Steeling market share


 Introduction It is easy for consumers in a changing world to take availability and choice for granted. This can be best characterised by examining markets in the private sector, where it is clear few organisations are free from wide scale competitive pressures. Competition exists wherever products are developed as close substitutes for others. Some competition is more direct than others. As an example, two brands of micro washing-up liquids would be considered to be in direct competition. However, indirect competition might involve deciding to go to the cinema on a Saturday afternoon instead of visiting the local pizza bar. Competition occurs when consumers are faced with a range of alternative options and where choices have to be made. Competition exists at all times in all industries and the best organisations devise a series of competitive tools which enable them to deal with their competing forces. It must strike a balance between market opportunities and competitive threats, since wherever market opportunities exist competition tends to be fierce. Once a business has analysed and understood the nature of its competition it has to make decisions about what elements it wishes to adapt or change, so that it can strengthen and develop its...

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