Ch 3: Competitive Market & Environment

About This Chapter

Healthy competition can encourage innovations, but to stand out against competitors, your employees need to understand the inner workings of the market. Let the informative lessons in this chapter help your team learn to develop a competitive strategy.

Competitive Market & Environment - Chapter Summary

The lessons examined in this chapter will educate employees about the effects of competition in the marketplace. Let your staff discover how organizations can use this competitive structure for their benefit. Employees will find out more about these key concepts:

  • Attributes of a competitive market
  • Benefits and disadvantages of a competitive business market
  • Key competitive strategies
  • Effects on pricing and promotional campaigns
  • Competition factors related to global marketing

You can use our materials during training meetings for large groups of employees, or you can let each of your employees work their way through the chapter at their own pace. To make sure they are learning everything they can about surviving in a competitive global economy, you can assign the lesson quizzes and chapter exam. As your staff members go through these materials, they may come up with questions about how to respond to competitors, so we have made our instructors available to provide further clarifications.

How It Helps

  • Strengthens knowledge base: Team leaders require a deeper understanding of how competition affects sales and marketing to develop stronger competitive strategies.
  • Increases global awareness: With so much business conducted online, organizations have to start considering their competition around the world to guarantee business longevity.
  • Teaches competition survival skills: Most of the major markets are flooded, so your team members need to learn key survival skills to keep your business competitive in today's economy.

Skills Covered

Upon completing this chapter, employees will know how to:

  • Identify the characteristics contributing to competition in the marketplace
  • Spot the obstacles involved in going against competitors
  • Examine competitors in a flooded market and learn about common strategies
  • Inspect how competition affects distribution and promotional marketing
  • Compare the advantages and drawbacks to competing in a global market

Chapter Practice Exam
Test your knowledge of this chapter with a 30 question practice chapter exam.
Not Taken
Practice Final Exam
Test your knowledge of the entire course with a 50 question practice final exam.
Not Taken

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Other Chapters

Other chapters within the Creating a Framework for Competitive Analysis course