Competitive Space

Posted in Marketing and Strategy Terms, Total Reads: 1391
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Definition: Competitive Space

Competitive spaces are areas of business in which a firm feels comfortable enough to compete based on their cost advantage and/or technological superiority.

 

Most of the times both cost advantage and technological superiority are required for feel that a business lies in its competitive space. For example, take a FMCG major, it has the cost advantage through scale of operations to enter in the telecom sector but not the technical prowess to feel comfortable in the sector.

 

Knowledge about market and competitive space you exist in is very important to make proper business decisions.

 

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