Full & Open Competition

Posted in Marketing and Strategy Terms, Total Reads: 586
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Definition: Full & Open Competition

Full & Open competition can be defined as the competition in which all the qualified firms or companies can compete with each other in a free manner.


This type of competition provides each and every one equal opportunity to compete & offer their product or services.


Advantage:

The advantage of this type of competition is that there is no monopoly kind of situation & consumers are free to choose the product they want & have many options at hand.




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