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Sagot :
Competitive dynamics is the term for an intense rivalry, involving actions and responses among similar competitors vying for the same customers in a marketplace.
What is fierce competition?
Competitive rivalry is a gauge of how fiercely existing companies compete with one another. Competitive activities like price lowering, higher advertising costs, or investing on service/product innovation and upgrades can reduce profits and foster competition.
When there are few companies selling a good or service, when the market is expanding, and when customers may quickly and affordably switch to a competitor's product, then competition is strong.
Learn more about Competitive dynamics refer
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