Front

Brand

Back

A symbol, logo or design that is recognisable and distinguishes a product from competitors.

Front

Competition

Back

The rivalry among sellers trying to achieve goals such as increasing profits, market share, and sales volume.

Front

Competitive market

Back

When there are many rivals selling similar products.

Front

Competitor

Back

A rival business operating in the same market offering similar goods or services.

Front

Direct competition

Back

Businesses produce similar products that appeal to the same group of customers.

Front

Dynamic market

Back

A market that is subject to rapid/continuous change.

Front

Indirect competition

Back

Different businesses make or sell products that are not in direct competition but compete for the same customer experience.

Front

Innovation

Back

The creation, development and implementation of a new product, process or service.

Front

Market

Back

Where buyers and sellers interact.

Front

Market growth

Back

An increase in demand/sales for a particular product/service.