competitiveness


	competitiveness
	Advantages allows them to differentiate their product and be much more efficient by keeping up with current demand stronger customer loyalty may allow the company to offer a premium focus more on quality the business itself has less influence making prices higher/lower	Disadvantages loose customers to comp which decreases market share, therefore advertising costs are increased t a high comp market is likely to have seasonal change, therefore you need to change your product and prices very frequently, increasing production costs if demand is high in the market, labour costs would be increased in order to improve capaciy utilistaion comp may have already took your idea comp can also use predatory and penetration pricing, reducing customer loyalty you would need strong barriers to entry
	Evaluation

allows them to differentiate their product and be much more efficient by keeping up with current demand
stronger customer loyalty may allow the company to offer a premium
focus more on quality
the business itself has less influence making prices higher/lower

loose customers to comp which decreases market share, therefore advertising costs are increased
t
a high comp market is likely to have seasonal change, therefore you need to change your product and prices very frequently, increasing production costs
if demand is high in the market, labour costs would be increased in order to improve capaciy utilistaion
comp may have already took your idea
comp can also use predatory and penetration pricing, reducing customer loyalty
you would need strong barriers to entry

Get Revising