Why is competition important?

[Snazzy001]

Competition is very important because it is the only medium through which goods and services can be readily available in great quality and service to the consumers

 

[Masifon]

Live itself is a competition so as it stands, competition makes individual to know that in live you need to sit up to be above your equal,it also makes one to focus

 

[Sotherefore]

Competition is not really good but sometimes it is still necessary in our life because this can actually help you to reach your destination faster especially if you are trying to meet up to a certain position within a short period of time.

 

[Kubiat-Abasi]

Whether we admit it or not, we compete with each other consciously or unconsciously. Competition is not only natural but can be seen as a place of opportunity for better decision making and innovations.

 

[Kelly5]

Studying the competition in your line if business is a very important aspect of your business planning if you must make or break even in your business. You don't want to start something without knowing who your competitors are would you?

 

[tyrim88]

I believe that competition in business is healthy for customers only because competition forces business owners to improve their products quality and services and this is good for customers.

One thing the presence of competition does is that it will make any busines owner to always be on top of his game,he will be thinking of constant improvement for his business.

 

[Seno inyang]

Without competition in your line of business by other competitors you may feel relaxed, you won't do something new and outstanding to your business, that's going extra miles to rebranding or adding value to your business because you may feel that you've already achieved it.

 

[eLdavis]

Without competition in your line of business by other competitors you may feel relaxed, you won't do something new and outstanding to your business, that's going extra miles to rebranding or adding value to your business because you may feel that you've already achieved it.

Competition bring out the best in you. Most times we tend to be content with the position or level we find our selves. We might feel that is the best we can be until we see someone who would challenge us to bring out those locked up potential.

 

[Seno inyang]

Competition bring out the best in you. Most times we tend to be content with the position or level we find our selves. We might feel that is the best we can be until we see someone who would challenge us to bring out those locked up potential.

Exactly!

 

[Partisan]

Competition is very necessary for growth and development of an individual or an organisation because they try to bring the best out in you and also give you the opportunity to be focus in what you are doing and know that at least something is at stake

 

[Stnicholaz]

Competition in business is very good. It make you to be focused and be creative to get customers. It makes the market open to options to choose from and the price of goods and services will be relatively the same.

But an uncompetitive business make the business owner fix any price he wants on the product because he knows you have no option or alternative around.

 

[07Trinity]

As a business person, I've realised that it's impossible not to have either direct or indirect competitors in your line of business. Main reason why new business starter needs to do their home work and faction in competitors in their business plan.

This bring the question, how do you strive to have an edge over others?

Challenges in business is inevitable,even if you start a business without competition,the success of the business will always draw attention and motivate others to follow such path, always stay true to your act.

 

[Bright7777]

I hate competition with passion but I believe that competitions has it advantage like helping to situp and avoid doing things that will ruin and spoilt your business.

 

[YERUS]

As a business person, I've realised that it's impossible not to have either direct or indirect competitors in your line of business. Main reason why new business starter needs to do their home work and faction in competitors in their business plan.

This bring the question, how do you strive to have an edge over others?

We can not over rule competition in any business.
What a business starter in that position should do is to try and find out ways his or her business can be different from other competitors.
This is how you can have an edge over them.

 

[Lucy ID]

Competition is always needed and very good, without competition brands or products will not work more on making their products better and even affordable at all times

 

[Josan]

Competition at a point though not worth following saves as a motivation or trigger in other to spur you up to go higher but at times can make you rush to landing wrongly.

 

[Immilash1]

you first need to know what's absent from your competitor and bring it in to your own business,you also need to have a strong connection between you and your customers.

 

[Kaffyfolla]

Competition also creates opportunities for individuals to enter the marketplace and start new businesses. It creates jobs and provides people with a choice of selecting career

 

[Laurentta]

In a business, there must always be competition either directly or incredibly. In other to beat competitors you must strive to be the best, know what you are doing and be good at it, ensure good relationship with customers, ensure you satisfy customers, as the saying goes "happy customers are returning customers".

 

[tyrim88]

In business for it to move forward there must be competition, that is why its good to have good strategies, always know what your clients want, that is a very good way of beating competitors around you. Always go for good and reliable Information that will help in boasting your business

One way of getting information from your customers is through delibrate avenue for feedbacks,their reply will give you an idea of what you really need to do,and align it with your strategic plan for the business.