Disadvantage of competition in business

Johnson2468 · Jan 13, 2023

Increased pressure on pricing
Limited market share
Difficulty differentiating products or services
Increased marketing costs
Risk of copycats
Increased pressure on customer service:

cherry123 · Jan 13, 2023

Competition means there would be struggling with the market share. So you need to work to hard to capture the market share

Niyi Briggs · Jan 13, 2023

I don't see any disadvantage that competition has on a business. It rather leads to better goods and services. It also leads to a reasonable pricing system.

Shavkat · Feb 21, 2023

The only disadvantage that I am pondering right now is not able to compete with the competitors in business. If they continue in this situation, then they can lead to brankruptcy.

eldavis · Feb 21, 2023

One major disadvantage of business is that it would lead to your competition trying to spoil your name. Most business owners are willing to do anything just so they can be at the top.

Springtime · Feb 21, 2023

Johnson2468 said:
Increased pressure on pricing
Limited market share
Difficulty differentiating products or services
Increased marketing costs
Risk of copycats
Increased pressure on customer servt

The points you mentioned are valid. On the other hand, if there is no competition, companies may not make improvements on their products and may stick to their price level. If businesses have to compete for customers, they may try to manufacture their products in a more cost effective way. They may also make improvements on their products from time to time to outsmart competitors.

Bisolami · Feb 21, 2023

Springtime said:
The points you mentioned are valid. On the other hand, if there is no competition, companies may not make improvements on their products and may stick to their price level. If businesses have to compete for customers, they may try to manufacture their products in a more cost effective way. They may also make improvements on their products from time to time to outsmart competitors.

That is why competition is necessary
They will not find ways to improve their products if they do not compete. It will help them to be creative.

uptrendfinancialsignal · Feb 27, 2023

One of the disadvantages of involving in competition in a business is that, it will reduce sales.

Reedex · Mar 14, 2023

Competition has a lot of advantages but the only disadvantage in competition is when it is unhealthy.

IB D · Mar 15, 2023

Competition in business has both advantages and disadvantages. One major disadvantage of competition is that the competitor would be dragging your customers with you. No matter how established you are, your revenues would drop a little when conversation sets in.

Magnus2022 · Mar 15, 2023

I don't think there is any reasonable disadvantage of competition. The only disadvantage I can think of is that competition will not give a business owner a time to relax a bit. Competition will give you no rest.

IB D · Mar 15, 2023

If you were the only person that owned a provision shop serving the entire street, and then someone just pops up to open a provision shop next to you, do you think it would not affect you in any way?

Magnus2022 said:
I don't think there is any reasonable disadvantage of competition. The only disadvantage I can think of is that competition will not give a business owner a time to relax a bit. Competition will give you no rest.

Magnus2022 · Mar 15, 2023

IB D said:
If you were the only person that owned a provision shop serving the entire street, and then someone just pops up to open a provision shop next to you, do you think it would not affect you in any way?

I am commenting from the position of a customer not of a business owner.

IB D · Mar 15, 2023

Magnus2022 said:
I am commenting from the position of a customer not of a business owner.

Now, your comment is understandable. From a customer's point of view, competition gives a customer more options and varieties to choose from .

Disadvantage of competition in business

Johnson2468

Notable

cherry123

Popular

Niyi Briggs

Well Known

Shavkat

Very Familiar

eldavis

Very Familiar

Springtime

Well Known

Bisolami

Very Familiar

uptrendfinancialsignal

Well Known

Reedex

Well Known

IB D

Well Known

Magnus2022

Notable

IB D

Well Known

Magnus2022

Notable

IB D

Well Known

Connect With Us