Business Finance
Types of Competitive Dynamics Discussion

Question Description

I’m studying for my Business class and need an explanation.

Discuss the various types of competitive dynamics in an industry. Where does Hotel industry fall?

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Running Head: THE COMPETITIVE DYNAMICS

The competitive dynamics
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THE COMPETITIVE DYNAMICS

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Competitive dynamics
Competition in the industrial markets is highly characterized by activities which are
concerning prowess, or the uniqueness of the competing companies in the market (Davenport, &
Harris, 2017). These include the production of fewer products while focusing on high
profitability, innovative production processes over the costs, expansion of the products sale and
also the global expansion of the markets. For the competing firm to win favourable positions in
the competitive market, they have to access the market and employ unique features from those
already applied by the existing competing firms.
The primary importance of the competitive reactions to the firms is that they build the
foundation of the added competitive advantage or to defend the po...

strongboss5 (4933)
University of Virginia

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