competitive (adjective, com-pet-i-tive, \ kəmˈpetətɪv \) position (noun, po-si-tion, \ pəˈzɪʃən \)
Definition: is a position, a place that a certain business occupies (or a place it is trying to take) in a market in a relation to its competitors. Ideally, a business’s competitive position should differentiate it from the competitors thanks to the uniqueness of its product or services. There is a number of factors that might influence a business’s competitive position, including the size of the market it operates in, the number of competitors, the market’s current stage of development, and the target clientele (their preferences, trends, and buying behavior). When a business is being seen as a preferred choice of the customers, this means it has acquired its competitive position.
In a Sentence:
- We have managed to establish a secure competitive position in the conditions of the current market.
- This company has established competitive prices, which now attract consumers. This means that this business has acquired a competitive position in the market.
- In order to achieve a competitive position, we need to conduct a full market analysis.
Synonyms and related words: competitive positioning, competitive benchmarking, competitive niche, market position, competitive structure, competitive advantage
