Competitor in the context of "Competitive intelligence"

Play Trivia Questions online!

or

Skip to study material about Competitor in the context of "Competitive intelligence"

Ad spacer

⭐ Core Definition: Competitor

Competition is a rivalry where two or more parties strive for a common goal which cannot be shared: where one's gain is the other's loss (an example of which is a zero-sum game). Competition can arise between entities such as organisms, individuals, economic and social groups, etc. The rivalry can be over attainment of any exclusive goal, including recognition.

Competition occurs in nature, between living organisms which co-exist in the same environment. Animals compete over water supplies, food, mates, and other biological resources. Humans usually compete for food and mates, though when these needs are met deep rivalries often arise over the pursuit of wealth, power, prestige, and fame when in a static, repetitive, or unchanging environment. Competition is a major tenet of market economies and business, often associated with business competition as companies are in competition with at least one other firm over the same group of customers. Competition inside a company is usually stimulated with the larger purpose of meeting and reaching higher quality of services or improved products that the company may produce or develop.

↓ Menu

>>>PUT SHARE BUTTONS HERE<<<

👉 Competitor in the context of Competitive intelligence

Competitive intelligence (CI) is the process and forward-looking practices used in producing knowledge about the competitive environment to improve organizational performance. Competitive intelligence involves systematically collecting and analysing information from multiple sources as part of a coordinated competitive intelligence program. It is the action of defining, gathering, analyzing, and distributing intelligence about products, customers, suppliers, competitors, and any aspect of the external business environment needed to support executives and managers in strategic decision making for an organization.

CI involves developing an understanding of what is happening in the world outside the business, so as to increase one's competitiveness. It means learning as much as possible, as soon as possible, about one's external environment including one's industry in general and relevant competitors. This methodical program affects the organization's tactics, decisions and operations.

↓ Explore More Topics
In this Dossier

Competitor in the context of Natural monopoly

A natural monopoly is a monopoly in an industry in which high infrastructure costs and other barriers to entry relative to the size of the market give the largest supplier in an industry, often the first supplier in a market, an overwhelming advantage over potential competitors. Specifically, an industry is a natural monopoly if a single firm can supply the entire market at a lower long-run average cost than if multiple firms were to operate within it. In that case, it is very probable that a company (monopoly) or a minimal number of companies (oligopoly) will form, providing all or most of the relevant products and/or services. This frequently occurs in industries where capital costs predominate, creating large economies of scale in relation to the size of the market; examples include public utilities such as water services, electricity, telecommunications, mail, etc. Natural monopolies were recognized as potential sources of market failure as early as the 19th century; John Stuart Mill advocated government regulation to make them serve the public good.

↑ Return to Menu

Competitor in the context of Market intelligence

Market intelligence (MI) is gathering and analyzing information relevant to a company's market - trends, competitor and customer (existing, lost and targeted) monitoring. It is a subtype of competitive intelligence (CI), which is data and information gathered by companies that provide continuous insight into market trends such as competitors' and customers' values and preferences.

MI along with the marketing capabilities of an organization provides a guideline into the allocation and implementation of resources and processes. It is used for the purpose of continuously supplying strategic marketing planning for organizations to gauge marketing positions in order for companies to gain competitive advantage and best meet objectives.

↑ Return to Menu

Competitor in the context of Obstacle racing

Obstacle course racing (OCR) is a sport in which a competitor, traveling on foot, must overcome various physical challenges in the form of obstacles. Races vary in length from courses with obstacles close together to events of several kilometers which incorporate elements of track, road and/or cross country/trail running. Courses may include climbing over walls or up ropes, monkey bars, carrying heavy objects, traversing bodies of water or mud, crawling under barbed wire, and jumping through fire.Since the beginning of modern OCR with the Tough Guy Competition in 1987, the sport has grown in popularity such that more than 2500 events are held annually across the world and several run organizing companies are commercially successful.

↑ Return to Menu

Competitor in the context of Marketing warfare strategies

Marketing warfare strategies represent a type of strategy, used in commerce and marketing, that tries to draw parallels between business and warfare and then applies the principles of military strategy to business situations, with competing firms considered as analogous to sides in a military conflict, and market share considered as analogous to territory in dispute.This view of marketing argues that in mature, low-growth markets, where real GDP growth is negative or low, commerce operates as a zero-sum game. One participant's gain is possible only at another participant's expense. Success depends on battling competitors for market share.

↑ Return to Menu