Keyword Analysis & Research: competitor meaning business dictionary

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What is the definition of business competition?

competition(noun) a business relation in which two parties compete to gain customers. "business competition can be fiendish at times". contest, competition(noun) an occasion on which a winner is selected from among two or more contestants.

Why is competition important in business?

competition is very important in any business for growth . Healthy competition makes business owners to sit up and strategize how to satisfy their customers better and improve on the brand which in turns makes the company better.

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