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Competitors fill a need for business owners by keeping them on the cutting edge.
Without competitors, a business would have no reason to keep prices in check. It would create a monopoly which is never good in any society. When two competitors compete for business, the market (customers) are the ones who decide who they will patronize with their dollars. Prices are usually the first element people choose when deciding which business or product to go with.
Competitors drive innovation and keep new ideas and procedures moving forward. Imagine if McDonald's were the only fast food hamburger restaurant in the world. There would never be a Burger King to compete. All food would taste bland and boring.
"Everyone is always looking to build a better mousetrap"
What else can I help you with?
Who is subways business competitors?
Quiznos
How competitors influence a business?
they influence a business by that they give them ideas to get more people to go to them
Is Using market power to drive competitors out of business is illegal?
no
What is a business that offers same goods to same customers?
Competitors
What does this business principle means no business exist in isolation?
...these means that no business will shine without any competitors..yes,it will grow but not popular as you are expecting..
What are the types of competitors in the market?
business competitors business competitors business competitors business competitors business competitors
Takl about competitors and how they might try and increase profits?
A competitors is a person that buys something from a business
Who is subways business competitors?
Quiznos
What is the roles and responsibility of business economist?
roles and responsibility of business economist?
Who are the strongest competitors in the business?
Some of the strongest competitors in the business world are companies like Apple, Amazon, Google, and Microsoft. These companies dominate their respective industries and have a significant market share globally. Their strong product offerings, innovation, and customer base make them formidable competitors.
How competitors influence a business?
they influence a business by that they give them ideas to get more people to go to them
Describe major roles an office performs for a business?
what roles an office performs for a business?
Is Using market power to drive competitors out of business is illegal?
no
What is a business that offers same goods to same customers?
Competitors
What is fair business competition?
Fair business competition refers to employing ethical methods of competing. This means avoiding shady practices like lying about competitors or stealing ideas from competitors.
How Nike have used their business environments to gain market share on their competitors and become a leader in their industry?
= How Nike have used their business environments to gain market share on their competitors and become a leader in their industry? =
What does this business principle means no business exist in isolation?
...these means that no business will shine without any competitors..yes,it will grow but not popular as you are expecting..
