Vocabulary for Discussing Competition

Question 1

What does it mean to edge someone out?

Answer 1

To win or achieve something narrowly, surpassing others.

E.g., The firm edged out its competitors by offering better terms in the acquisition deal.

Question 2

What is a level playing field?

Answer 2

A situation where everyone has equal opportunities or advantages.

E.g., The company’s flexible pricing model helped create a level playing field for smaller retailers.

Question 3

What does it mean to ‘close the gap’?

Answer 3

Reduce the difference between two things.

E.g., The company has launched a new strategy to close the gap in profit margins with its competitors.

Question 4

What are you doing when you ‘gain a foothold’?

Answer 4

Establishing a secure or initial position in a market

E.g., We allocated budget to regional expansion so our brand could gain a foothold before the next financial year.

Question 5

What does ‘on the face of it’ mean?

Answer 5

Based on initial appearance or what seems to be true at first glance.

E.g., On the face of it, the investment looks profitable, but we need to dive deeper into the underlying risks.

Question 6

What does it mean if someone is trailing behind?

Answer 6

Falling behind in progress or performance.

E.g., Despite recent efforts, their brand continues to trail behind the market leaders in terms of consumer awareness.

Question 7

What are you doing when you’re keeping tabs on something?

Answer 7

Monitoring or tracking something regularly.

E.g., The finance team is keeping tabs on the fluctuating foreign exchange rates to adjust forecasts accordingly.

Question 8

What are you doing when you make inroads with / into something?

Answer 8

Start to make progress in a new area or with a new group.

E.g., We’ve been able to make inroads with a new demographic thanks to a targeted social media campaign.