competitive (adjective, com-pet-i-tive, /kəmˈpet̬ət̬ɪv/) structure (noun, struc-ture, /ˈstrʌkʃər/)
Definition: is a description of the product’s current status in its market, which oftentimes involves a vast amount of information. This information may include the number of the competitors and the comparative strength of each of them, the level of demand on the market, the available level of supply, and the ease of entry into the current market. In business, a competitive structure might also refer to a specific system of product evaluation, which implies comparing the product, its value, and potential revenue to the similar product type in a competitive market.
In a Sentence:
- A competitive structure is a company’s relative, comparative position within its field and industry.
- It is crucial that we consider the competitive structure of the current market, especially when it comes to developing our own business strategy.
- Potential investors study the competitive structures of various companies in order to estimate their own chances of success in the given market state.
Synonyms and related words: market structure, sustainable competitive advantage, competitive quotations, competitive marketing, competitive analysis, competitive advantage
