5.2 Competitor's behaviour

Question 1

What is a Competitor

Answer 1

A business rival in the same market for products or services offered by the business

Question 2

List Behaviors of a Competitor

Answer 2

• Successful competitors watch what their business rivals are doing on a daily basis
• Offering inducements, incentives, memberships and loyalty schemes is another strategy used by businesses in their quest to gain a competitive advantage.