Business Competition: Definition, Types, Importance & Examples


Disadvantages Of Business Competition



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Disadvantages Of Business Competition

Business competition isn’t always beneficial too. High competition has the following disadvantages –

  • Reduces the market share of the business: A rise in competition makes the business share its market with other players. This is often unwelcomed by the existing businesses.
  • Puts pressure on business: Competitions puts much pressure on businesses to up their game and results in many of them failing because of their inability to compete with the big market players.
  • Employees feel pressurized: Increased competition adds much pressure to employees to perform well and think out of the box. Many employees can’t cope up with this increased pressure.
  • Makes business spend unnecessarily: Competition often makes a business overspend on marketing and other promotional strategies to woo the customers, business partners, and employees. This adds to the expense and is often unnecessary.

Business Competition Examples Coca-Cola And Pepsi

  • Coke vs. Pepsi is a great example of direct competition where both of these companies offer almost the same product but try to build their market share using marketing and positioning strategies.
  • DHL and FedEx are direct competitors which offer courier delivery service all over the world. They differ in specialized services and add-ons like providing overnight delivery, long-distance delivery, etc. They also try to build their market share using price wars.

Constantly competing companies

  • MCDONALD’S VS. BURGER KING
  • FORD VS. GM
  • NIKE VS. REEBOK
  • Apple VS. Samsung
  • Thomas Edison vs. Nikola Tesla
  • Airbus vs Boing
  • DUNKIN’ DONUTS VS. STARBUCKS

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