Competition Competition Bertrand competition is a model of competition used in economics, named after Joseph Louis François Bertrand (1822-1900). Specifically, it is a model of price competition between duopoly firms which results in each charging the price that would be charged under perfect competition, known as marginal cost pricing. ...more on Wikipedia about "Bertrand competition"
Competition is the act of striving against another force for the purpose of achieving dominance or attaining a reward or goal, or out of a biological imperative such as survival. Competition is a term widely used in several fields, including biochemistry, ecology, economics, business, politics, and sports. Competition may be between two or more forces, life forms, agents, systems, individuals, or groups, depending on the context in which the term is used. ...more on Wikipedia about "Competition"
Competition policy is an economics term referring to the body of laws of a state which govern the extent, and ability, to which bodies can economically compete. They hence attempt to restrict practices which remove competition from the market such as monopoly and cartel. ...more on Wikipedia about "Competition policy"
A competition regulator is a government agency, typically a statutory authority, which regulates competition laws, and may sometimes also regulate consumer protection laws. In addition to such agencies there is often another body responsible for formulating competition policy. ...more on Wikipedia about "Competition regulator"
Competitor analysis in marketing and strategic management is an assessment of the strengths and weaknesses of current and potential competitors. ...more on Wikipedia about "Competitor analysis"
Cournot competition is an economics model used to describe industry structure. It so called after Antoine Augustin Cournot (1801-1877) after he observed competition in a spring water duopoly. It has the following features: ...more on Wikipedia about "Cournot competition"
As a solution to the Bertrand paradox (economics) it has been suggested that each firm produces a somewhat differentiated product and consequently faces a demand curve that is downward-sloping for all price levels that the firm may charge. An increase in a competitor's price is represented as an upward shift of the firm's demand curve. As a result, when a competitor raises price, generally a firm can also raise its own price and enjoy an identical or higher profit level. ...more on Wikipedia about "Differentiated Bertrand competition"
The ecological model of competition is a reassessment of the nature of competition in the economy. Traditional economics models the economy on the priciples of physics (force, equilibrium, inertia, momentum, and linear relationships). This can be seen in the economics lexicon : terms like labour force, market equilibrium, capital flows, and price elasticity. This is probably due to historical coincidence. Classical Newtonian physics was the state of the art in science when Adam Smith was formulating the first principles of economics in the 1700s. ...more on Wikipedia about "Ecological model of competition"
Competition law is one of the areas of authority of the European Union. It comprises three main policy areas: ...more on Wikipedia about "EU competition law"
Geo (Marketing) (also called marketing geography) is a discipline within Marketing-Analysis which uses geographic information or Geolocation in the process of planning and implementation of marketing activities. Geo-Marketing analyses peculiarities of a specific geographic area and tries to incorporate the conclusions into the design of a marketing activity by tailoring it to the needs of this area. ...more on Wikipedia about "Geo (Marketing)"
In economic theory, imperfect competition, is the competitive situation in any market where the conditions necessary for perfect competition are not satisfied. ...more on Wikipedia about "Imperfect competition"
A moral victory occurs when a person, team, or army loses a battle, yet achieves some other moral gain. The gain in question is often totally unrelated to the battle in question; however, the one rule is that the gain must be considerably less than what would have been gained if the main battle had been won; otherwise, it would be characterized as either a "wash" or a proper victory. ...more on Wikipedia about "Moral victory"
Non-price competition is a marketing strategy "in which one firm tries to distinguish its product or service from competing products on the basis of attributes like design and workmanship" (McConnell-Brue, 2002, p. 437-438). The firm can also distinguish its product offering through quality of service, extensive distribution, customer focus, or any other sustainable competitive advantage other than price. It can be contrasted with price competition, which is where a company tries to distinguish its product or service from competing products on the basis of low price. Non-price competition typically involves promotional expenditures, (such as advertising, selling staff, sales promotions, coupons, special orders, or free gifts), marketing research, new product development, and brand management costs. ...more on Wikipedia about "Non-price competition"
Perfect competition is an economic model that describes a hypothetical market form in which no producer or consumer has the market power to influence prices. According to the standard economical definition of efficiency ( Pareto efficiency), perfect competition would lead to a completely efficient outcome. The analysis of perfectly competitive markets provides the foundation of the theory of supply and demand. ...more on Wikipedia about "Perfect competition"
In business and economics, the phrase perverse competition is used to describe a scenario where businesses are competing in a way not described as beneficial in arguments used to justify or explain capitalism. For example, many supporters of capitalism argue that the capitalist system turns individual greed into a societal good by pitting businesses against one another, who lower price (thereby benefiting consumers as a whole) and/or invent new technologies (thereby possibly benefiting the larger society who can also use that new technology or invention) to gain the upper hand. However two hypothetical shoe companies who make almost exactly the same kind of shoe but compete solely based on massive advertising campaigns (which cause their shoes to be more expensive) can be said to be a scenario of perverse competition, because their competition neither lowers prices for consumers or invents new technology. ...more on Wikipedia about "Perverse competition"
:For people whose family name is Price see Price (disambiguation). ...more on Wikipedia about "Price"
Most agreements between business competitors regarding the pricing of a product are considered price fixing and are illegal in many countries. ...more on Wikipedia about "Price fixing"
Pricing is one of the four aspects of marketing. The other three parts of the marketing mix are product management, promotion, and distribution. It is also a key variable in microeconomic price allocation theory. ...more on Wikipedia about "Pricing"
Runner-up is a term used to denote a participant which finishes in second place in any of a variety of competitive endeavors, most notably sporting events and beauty pageants; in the latter instance, the term is applied to more than one of the highest-ranked non-winning contestants, the second-place finisher being designated "first runner-up," the third-place finisher "second runner-up," and so on. ...more on Wikipedia about "Runner-up"
Socialist competition or socialist emulation (социалистическое соревнование, "sotsialisticheskoye sorevnovanie", or "соцсоревнование", "sotssorevnovanie") was a form of competition between state enterprises and between individuals practiced in the Soviet Union and in other Eastern bloc states. ...more on Wikipedia about "Socialist competition"
The Stackelberg leadership model is a model of duopoly in economics. It is named after the German economist Heinrich von Stackelberg who published Marktform und Gleichgewicht in 1934 which described the model. ...more on Wikipedia about "Stackelberg competition" shortopedia, it's as simple as that!
In marketing and strategic management, sustainable competitive advantage is an advantage that one firm has relative to competing firms. The source of the advantage can be something the company does that is distinctive and difficult to replicate, also know as a core competency, for example P&G' ability to derive superior consumer insights and implement them in managing its brand portfolio. It can also be an asset such as a brand, e.g. Coca Cola or a patent, such as Viagra. It can also simply be a result of the industry's cost structure, for example the large fixed costs that tend to create natural monopolies in utility industries. To be sustainable, the advantage must be: ...more on Wikipedia about "Sustainable competitive advantage"
Workable competition is any market structure in which, taking into account structural characteristics and the dynamic factors that shaped them, no clearly indicated change can be effected through public policy measures that would result in greater social gains or losses. ...more on Wikipedia about "Workable competition"
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