Competitive space

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competitive (adjective, com-pet-i-tive, \ kəmˈpetətɪv \) space (noun, space, \ speɪs \)

Definition: is a set of business areas in which a company can stay competitive and battle against various market pressures by using both its cost advantage and technological superiority. If a company possesses only one of those elements, the specific business area can’t be counted as a competitive space, as the business can’t feel completely comfortable in it. A company has to be fully aware both of the market situation and of the competitive space it exists in to be able to make correct and timely business decisions.

In a Sentence:

  1. While we have the cost advantage due to our streamlined operations network, we don’t possess the technology to count the electronic watches industry as our competitive space.
  2. I don’t think we can enter the internet provider market, as it isn’t a part of our competitive space.
  3. Since selling winter clothing designed for extreme weather conditions is within Nordic Bear’s competitive space, they had no problem conquering a new market in Canada.

Synonyms and related words: competitive marketing, competitive position, competitive analysis, competitive niche