Competition in business

[nara1892]

Actually, in this case, everything related to goods and services clearly must have competitors because apart from being a benchmark as you said, this is also quite good for us as consumers because this can be several options and not only 1.
I am speaking from a consumer point of view, obviously being a little happy with the competition both in products and services so that it is not too monotonous when determining what we want because apart from there are various types, of course we are looking for the right price for us because at that time it was cheap. only one then it will be very difficult to determine this.

As a consumer then it is really that a benefit since we could really be having lots of options but it is really bad for business owners when they do really have those lots of  competitors which we know that it do affects

revenue making but well every business that is expected to have competition and tending to get some market share which it isnt really that surprising.This is why as a business owner then you should really be that

keep on seeking for something new or something that hadnt been in the market.This is why being progressive is really that important on any business.
As long you do sustain then thats really the most important thing to consider.

This goes back to their ability to do business because regardless of what it is about good management in business whether they can compete or not.
Because of course this is when we are in a business competition will definitely continue to happen considering that in this case it is like the law of the jungle. who is strong then he is the one who survives.
It depends on whether we are able to compete or not because actually there are only two in this case when we are able to compete then we can survive but if not then surely you have to leave the business.

Currently the market is so aggressive that when there is a new product or new service there will be a lot of competition so when we do business we must pay attention to this.

[Vaculin]

Competiton, especially healthy competition in business is good. We have seen technological innovations spring up as well as novel marketing ideas as a result of competition. Besides this, from the side of the consumers, there is a lot to gain from healthy competition among businesses. Imagine for a second two companies providing the same services and all of a sudden one company decides  to set its price too high, we know what will happen next. The consumers will just change service providers with the business with lower fees so as to save money.

For sure, the consumers won’t only go for lower prices without meeting the quality of the items. The quality and quantity should always go hand in hand. However, healthy competition gives us more advantage as the consumers because we are given choices which one is better than the other. Though it’s a sad reality that those who can’t keep up from the demand will bound to fall and may suffer bankruptcy.

[goaldigger]

Competiton, especially healthy competition in business is good. We have seen technological innovations spring up as well as novel marketing ideas as a result of competition. Besides this, from the side of the consumers, there is a lot to gain from healthy competition among businesses. Imagine for a second two companies providing the same services and all of a sudden one company decides  to set its price too high, we know what will happen next. The consumers will just change service providers with the business with lower fees so as to save money.

For sure, the consumers won’t only go for lower prices without meeting the quality of the items. The quality and quantity should always go hand in hand. However, healthy competition gives us more advantage as the consumers because we are given choices which one is better than the other. Though it’s a sad reality that those who can’t keep up from the demand will bound to fall and may suffer bankruptcy.

Many customer buys the cheaper option at first but when they already experience the quality of that item, they will realize that it’s not worth it and tendency are, they will buy the expensive one again and it can cost them a lot. Buying quality products are the best for long term, competition is also good as long as it’s healthy. Many businesses sees competition as an opportunity but I agree that in a competition, some company will suffer and that’a a big challenge for them to come up for a better solution and for them to stay in the competition.

[Russlenat]

In my POV,

Competition is good when I am the customer
Competition is not good when I am the Businessman

Well it is really something an advantage for customer or clients which we would really be having lots of option if competition would really become even more tighter which we would really be seeing different types of businesses would really be seen in the market.This is on all possible industry whether its food,gambling,ecommerce related or something else.For business owners or creators then expect that there would really be a
competition, thats why it would really be important that you should always consider on trying out to improve and trying out to make something which it doesnt been shown or be seen on the current market.
Make yourself to be that obliged on finding some new ways on to hook customers or people which will really make possible more revenue.

Once you’re a business owner, I think that’s also your own initiative to always think on how to improve your business and how to maximize your sales by keeping the demand of your customers or clients. If you quit, you will always be left behind and business will fall. So I think a healthy competition is also necessary so we can be more competitive not in a way to threat other businesses, but to compete in a positive way on how to satisfy every customer that goes in our store and will give us assurance that they will always come back.

[Fatunad]

Competiton, especially healthy competition in business is good. We have seen technological innovations spring up as well as novel marketing ideas as a result of competition. Besides this, from the side of the consumers, there is a lot to gain from healthy competition among businesses. Imagine for a second two companies providing the same services and all of a sudden one company decides  to set its price too high, we know what will happen next. The consumers will just change service providers with the business with lower fees so as to save money.

For sure, the consumers won’t only go for lower prices without meeting the quality of the items. The quality and quantity should always go hand in hand. However, healthy competition gives us more advantage as the consumers because we are given choices which one is better than the other. Though it’s a sad reality that those who can’t keep up from the demand will bound to fall and may suffer bankruptcy.

Many customer buys the cheaper option at first but when they already experience the quality of that item, they will realize that it’s not worth it and tendency are, they will buy the expensive one again and it can cost them a lot. Buying quality products are the best for long term, competition is also good as long as it’s healthy. Many businesses sees competition as an opportunity but I agree that in a competition, some company will suffer and that’a a big challenge for them to come up for a better solution and for them to stay in the competition.

On businesses the cheapest offer would be the ones on getting much interest and demand and this is where competition starts specially on the same industry or products you would be offering.You should already

anticipate about these things yet competition would really be always there on any angle.You cant really just be the one or solely been offering those products or services.
Its really an advantage for us consumers yet we could really have lots of options or alternatives but totally that a tough thing for those sellers or businessowners.

[Cookdata]

Competition is an important pointer/indicator on the free market, without competition there is no free market. Best example, planned economy in the USddR, free economy is determined by supply and demand, everything else is not a healthy market. What I like about cryptomarkt - is a healthy and fair competition. And that's a good thing, that's how it should be

Is crypto market actually healthy? I can say for bitcoin, it is healthy and fair to everyone in every part of its protocol, the sender, the receiver, the node validator and even the miners, they are all healthy but I can’t say for some altcoins, they can be free markets but not healthy, the projects are not even fair because ventures have become the suckers of retailers by having a greed allocations because of small seed funding, that’s not healthy and fair in my opinion.

Competition is what improves an environment, it gives everyone the idea to be versatile, this gives us the idea for improvement and no to rely on a single products but is that applicable to crypto, I’m yet to see any project that has overcome bitcoin and have the trust of people like bitcoin, free market doesn’t really apply to crypto space as we see it.

[Captain Corporate]

One thing that wasn't calculated when considering "competition is healthy" was the fact that not everyone would have the chance to purchase the same services or items. For example, at certain point companies started to stop manufacturing the best they could for as cheap as possible, and they started to create products that was the best but expensive for the rich people, and alternative cheap versions for the poor people. Same goes for service, you want to get a website made? There is a guy who can do it for 50 bucks, and another one who can for 50k dollars, not same results, and 50k can't be afforded by most, so we are stuck with bad results.

[justdimin]

Competition ensures better quality of their items that will help the consumers meet their demands on that certain product. That is why it’s always a good scene to witness a healthy competition in all types of businesses, as that will only prove which business will have more to show, and which business will just stop there and quit. Maybe there are some businesses who also just got more luck than others and they last longer compared to others.

Competition increases the quality, and decreases the price, that is why it is always good. Of course, it should be at a legal level as well. Just to give an example, these days Amazon can sell any book they want for as cheap as they possibly can, right? That is amazing for the readers, that means thanks to Amazon we can now buy books for cheap, and if we want to, we can resell them with some loss instead of just putting it on a shelf.

However, that also means destroying all booksellers as well, we don't see too many bookshops in the world these days, do we? You need to make sure that while you are helping one, you are not destroying the other, that’s very sensitive.

[Quidat]

One thing that wasn't calculated when considering "competition is healthy" was the fact that not everyone would have the chance to purchase the same services or items. For example, at certain point companies started to stop manufacturing the best they could for as cheap as possible, and they started to create products that was the best but expensive for the rich people, and alternative cheap versions for the poor people. Same goes for service, you want to get a website made? There is a guy who can do it for 50 bucks, and another one who can for 50k dollars, not same results, and 50k can't be afforded by most, so we are stuck with bad results.

Financial capability is always a concern here, that's why there's a small business that are actually competing with the top brands by offering a cheaper alternatives and that's where the mass public are, many left with no choice but to deal with the cheaper option even if the quality is not that good. Every business have their own target market, many can stay within the competition while others can't, this is how business works and not everyone will always win.

There's really a certain market basing up on categories

1. Rich-Expensive market
2. Middle class- Poor ones market

So expect that there would be business which would really be serving out those categories.
You cant really make yourself go in all every aspect or all rounder and this is something really good for
consumers but as said that you could really make out differentiation in terms of quality but of course its
something expected and depends on what you had paid for.

[serjent05]

Business monopoly only means stagnant.  Since there is no competition in the market, the market will become boring and won't develop.  We have seen a lot of examples when an industry is monopolized by one company.

I will take our country's telecom company as an example.  Due to the communication industry being monopolized by one company, the price rate of their service is very expensive, data speed is very slow, the company is lazy for technological upgrades and customer support sucks. When new competition arrives, they tried to block it by bribing corrupt officials.  This practice is very rampant until the dynasty of what we called yellowtards ended.  When the new administration opens the door to new competitors, we have seen great improvement in the service and can be avail at a cheaper price.

With competition, customers have options to choose from.  The competition makes these participating company to offer their best service and is keen for technological advancement in order to get ahead of the race.  Service is also offered way cheaper and customer greatly benefits from the competition.

[cozytrade]

These are some characteristics of competition;
1. A healthy competition should always be neutral and un-biased.
2. Competition is constant and ceaseless as it goes on all the time. We all indulge in competition whether knowingly or unknowingly
3. Competition is universal, common and all embracing as it goes on all over the world.

There is a famous saying. Everything is fair in love and war. This terms also true about business competition. In this sector, no one wants to or cares about its neutrality and unbiased or not. Winning or making a position is the only thing that matters. In this process, companies take actions in legal and illegal both ways.

Generally, competition is very essential in a free market and without competition, there would be monopoly in the production of goods and rendering of services. And when there’s a monopoly, small business and start ups are destined to fail.

In a free market, economy competition is vital for its growth. This keeps price lowers, force companies to improve product quality and services, and fasten innovation. On the other hand, it could destroy local businesses because of the investment of foreign companies. Local small businesses and factories were forced to shut down because of their small resource. Though there are some disadvantages, a free market economy plays a vital role to increase a country's GDP growth.

[Ani1985]

Competition is a selection to get quality products or services, in countries that provide economic freedom, of course this is very good because it will make positive competition, but many occur that unhealthy competition that makes competitors die.

[Kemarit]

One thing that wasn't calculated when considering "competition is healthy" was the fact that not everyone would have the chance to purchase the same services or items. For example, at certain point companies started to stop manufacturing the best they could for as cheap as possible, and they started to create products that was the best but expensive for the rich people, and alternative cheap versions for the poor people. Same goes for service, you want to get a website made? There is a guy who can do it for 50 bucks, and another one who can for 50k dollars, not same results, and 50k can't be afforded by most, so we are stuck with bad results.

Financial capability is always a concern here, that's why there's a small business that are actually competing with the top brands by offering a cheaper alternatives and that's where the mass public are, many left with no choice but to deal with the cheaper option even if the quality is not that good. Every business have their own target market, many can stay within the competition while others can't, this is how business works and not everyone will always win.

Yeah, and I guess it's 50/50 for us consumers, if there could be some competition that offers cheap alternative and it's good as the original or expensive one, then definitely, consumers will go and try and maybe stick with them.

The problem is that those cheap alternatives will have to keep it that way, lower the price but the quality is still at par with the best. But as I have said, once they become famous or corner the majority, they started to raise the price as well.

[gantez]

The positive competition will reflect on the reputation of the products so good competitors would still win in the end.

Competition is good for business like you said good product are achieved but not only products, price also goods down or stay reasonable price not like in the monopoly of market, the sole manufacturer choose good price for himself and not caring the pucket of the buyers which is the customers or end users. Competition is the main ingredient in capitalist market system. This kind of market system give opportunity for businesses to exist for better service to the customers.

[Iroh]

One thing that wasn't calculated when considering "competition is healthy" was the fact that not everyone would have the chance to purchase the same services or items. For example, at certain point companies started to stop manufacturing the best they could for as cheap as possible, and they started to create products that was the best but expensive for the rich people, and alternative cheap versions for the poor people. Same goes for service, you want to get a website made? There is a guy who can do it for 50 bucks, and another one who can for 50k dollars, not same results, and 50k can't be afforded by most, so we are stuck with bad results.

Financial capability is always a concern here, that's why there's a small business that are actually competing with the top brands by offering a cheaper alternatives and that's where the mass public are, many left with no choice but to deal with the cheaper option even if the quality is not that good. Every business have their own target market, many can stay within the competition while others can't, this is how business works and not everyone will always win.

Yeah, and I guess it's 50/50 for us consumers, if there could be some competition that offers cheap alternative and it's good as the original or expensive one, then definitely, consumers will go and try and maybe stick with them.

The problem is that those cheap alternatives will have to keep it that way, lower the price but the quality is still at par with the best. But as I have said, once they become famous or corner the majority, they started to raise the price as well.

That’s the beauty of a healthy competition. If those cheap alternatives aren’t innovative or good enough to meet consumer demand, it would close up shop leaving the goods with better quality and standard on the market. The consumer wins either way.

If a product comes to the market and attracts consumers with cheap prices but has low quality, consumers would very soon move on to the next alternative product on the market.

[kawetsriyanto]

Competition is a selection to get quality products or services, in countries that provide economic freedom, of course this is very good because it will make positive competition, but many occur that unhealthy competition that makes competitors die.

Yep. Competition triggers the improvement of the product or service quality. Sure, it is a good thing, this rises the standard of the quality of the products and services in a country. Every organization, company, or firm will be forced to have innovative and creative ways to deal with the competition. If they have no intention of doing that, they will be left behind. But this is also like the natural selection of a weak organization, company, or firm. The weak ones may disappear because they have no ability to compete. And the new ones will be difficult to develop during the high standard of quality.

About unhealthy competition, it should be handled by the government. There should be no space for unhealthy competition because it ruins the development of business, it kills the desire of having a better future.

[fullhdpixel]

With competition, of course, the product service and quality service will be better, without competition, producers will easily control anything such as raising prices, lowering quality and so on. The presence of competition will certainly make the business healthy and consumers get a profit.

In what way can consumer get a profit? Maybe you mean is that consumers can now save more in terms of expenses because services, products, etc will now be lowered due to too much competition. A consumer can buy a cheap product and they can choose to resell it for a little higher price, that is the only way for them to get a profit.

The disadvantage of the competition as said in the op is that it can threaten the small business that are only starting but why would they be affected? If you are truly committed about your business then you need to push it and ignore all the negativities that sorrounds you. Just be original so that you can stand out from the crowd.

[South Park]

The positive competition will reflect on the reputation of the products so good competitors would still win in the end.

Competition is good for business like you said good product are achieved but not only products, price also goods down or stay reasonable price not like in the monopoly of market, the sole manufacturer choose good price for himself and not caring the pucket of the buyers which is the customers or end users. Competition is the main ingredient in capitalist market system. This kind of market system give opportunity for businesses to exist for better service to the customers.

Competition is good for the customer but not for the businesses, believe me if they could every single company out there would like to destroy their competitors and keep all the market for themselves as in that way their need to be on top of everything will be reduced significantly, and even today monopolies exist, it is just that they have given themselves a more friendly look so we do not think of them as monopolies anymore, and what better example of this than Google or Facebook.

[dunfida]

The positive competition will reflect on the reputation of the products so good competitors would still win in the end.

Competition is good for business like you said good product are achieved but not only products, price also goods down or stay reasonable price not like in the monopoly of market, the sole manufacturer choose good price for himself and not caring the pucket of the buyers which is the customers or end users. Competition is the main ingredient in capitalist market system. This kind of market system give opportunity for businesses to exist for better service to the customers.

Competition is good for the customer but not for the businesses, believe me if they could every single company out there would like to destroy their competitors and keep all the market for themselves as in that way their need to be on top of everything will be reduced significantly, and even today monopolies exist, it is just that they have given themselves a more friendly look so we do not think of them as monopolies anymore, and what better example of this than Google or Facebook.

Competition do really creates lots of options for us consumers but it would really be a huge challenge into those businessowners where they are really dividing or trying out their best to get some marketshare

Its not really that surprising because there are really people who would really be tend to create a business which would really be possibly for them to have other source of income.

Making new ideas is a never ending process because all of them are really that finding new ways and products to be offered on the consumer market.
Its an advantage for us buyers but not for those business owners.

[Ahli38]

In the business world, competition is commonplace. and this competition always brings positive and negative impacts for the business people themselves. It depends on how the business competition takes place.
but this competition among entrepreneurs or businessmen also has a good impact on consumers from the business / business itself.

because with the competition between business people, of course they are business owners will compete in providing their best service to consumers. And of course the company with the best service will win. because consumers will certainly choose to subscribe to the company with the best service. so that consumers really become pampered from the impact of this business competition.
in addition to service, the company will also continue to strive to improve their products with innovations that are tailored to the needs and convenience of consumers.
the more business people involved in the competition, the more profitable it will be for consumers. because the prices they offer will always be adjusted to the ability of consumers.

but actually the intense competition is actually a little difficult for the business people themselves. because business people must get mental pressure in running their business. because they are required to always not lose in the competition and try to be the best. and it will really drain their minds in designing their business to continue to survive and thrive. and if they are business people who lose in competing then business failure will await them.

but in general this business competition has indeed had a good impact, such as the rapid progress and development in all fields of industry that are entered by the business people themselves. because they do compete in providing the best. For example, the film industry is getting more advanced, the electronics industry is getting more advanced and other industries are getting more advanced.