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Business strategy
Merits of having competitors in business.
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[QUOTE="Johnson2468, post: 303112, member: 93261"] Here are some merits of having competitors in business. Enhances Quality: Businesses are motivated to raise the quality of their goods and services by competition. Businesses are more inclined to make extra efforts to improve their products when they must compete with others. As a result, buyers finally have access to high-quality goods. Variety is provided: Marketers may have access to a greater range of goods and services as a result of competition. Businesses that want to stand out from the competition sometimes provide goods or services that the competition does not. This gives customers more options and may result in a more varied market. [/QUOTE]
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