Competition is an (1)....... element in business that drives the conduct of the marketplace. In this current age of globalization, the survival of firms and the business as a whole has been made even more uncertain due to the increase in competition. This is making it more (2)............ to sustain a profitable business; hence the recent trend towards greater consolidation. This results in the ultimate beneficiary: the consumer. From the overall quality of the product down to the intricacies of pricing, all aspects offered by firms will improve as they fight to survive and gain an edge over their competitors.

Điền chỗ trống (2)........

Knowing who your competitors are, and what they are_________, can help you to make your products, services and marketing stand out.

Your__________ could be a new business offering a substitute or similar product that makes your own redundant.

Phone and face-to-face_______ will also give you an idea of the style of the company, the quality of their literature and the initial impressions they make on customers.

1. Our company always _ (analyze) our competitors to stay ahead in the market.

At them moment, they _ (launch) a product similar to ours in a festival of jobs. 

Our product______ (perform) better than most rivals in quality tests at the present.

The company aims to outpace its rivals in customer_______ (satisfactory).

Last quarter, they increases their advertising_______ to compete with rivals.

To_______ competitors, the company improved its customer service this year.

They _____ (introduce) a loyalty program to attract customers from competitors at the supermarket now. 

Our competitors (reduce) prices to stay competitive in the market.