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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"
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∙ 13y ago
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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
The role of ATM in business transaction?
what are the roles of ATM in business transaction.
What are the types of competitors in the market?
business competitors business competitors business competitors business competitors business competitors
What is the roles and responsibility of business economist?
roles and responsibility of business economist?
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
Describe major roles an office performs for a business?
what roles an office performs for a business?
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
What is the roles of quantitative technique in business?
What is the role of quantitative technique in business?
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.
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
Can you get a masters in business with a bachelors in art?
yes if you have a great amount of business experience in high roles e.g. managerial roles.
