What are some examples of competitors?

Software as service is another common example of competitors with different models. Some software offers downloadable services, while some offer subscription services or free trials with paywall premium features. Though the business models may vary, they are still in competition with each other.

What does 'competitor' mean?

Competitor – definition and meaning A competitor is a person, business, team, or organization that competes against you or your company. If somebody is trying to beat you in a race, that person is your competitor.

What is the difference between a competitor and a rival?

Competitors also exist in sports, politics, acting, music, literature, etc. In business, we call a close a competitor a rival. In other words, rivals are the same size and make similar products. If two companies are leaders in their field, we refer to them as arch rivals. Beverage giants Coca-Cola and PepsiCo make virtually identical products ...

Who wins if a competitor has to compete to gain market share?

If a competitor has to compete to gain market share, the winner is the consumer. The consumer wins because competition ensures top quality. If two companies offer similar products at similar prices, quality will determine what the customer buys. If a company has no competitor, it has a market monopoly.