Disadvantage of competition in business

[Johnson2468]

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

 

[cherry123]

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

 

[Niyi Briggs]

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]

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]

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]

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]

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]

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

 

[Reedex]

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

 

[IB D]

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]

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]

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 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]

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]

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 .