Unit 1.3.9 Competitors Behaviour

Question 1

Competitors

Answer 1

• Businesses
• Operate in the same or similar industry
• Offer a similar good/service

Question 2

Competitor behaviour that can impact business planning

Answer 2

• Competitors selling a similar good/service for a lower price
• Competitors who sell a highly differentiated food/service
• Entering an industry where few businesses have a large market share
• Threat of potential new competitors entering the market

Question 3

Competitive advantage

Answer 3

• The conditions/attributes
• Place a business in a superior position
• Compared to its immediate competitors