direct (adjective, di-rect, \ dəˈrekt \) competition (noun, com-pe-ti-tion, \ ˌkɑːmpəˈtɪʃn \)
Definition: is a market state, in which two or more companies compete for the same target audience because they offer nearly identical products or services. To set their brand or product apart from direct competitors, companies use various strategies including marketing its unique features, offering a different price range, or relying on customer support. For example, Apple and Samsung are in the relationship of direct competition in the smartphone market as they compete with their iPhone and Galaxy product lines.
In a Sentence:
- The low amount of direct competition in the area motivated FitTrack to open two stores in the city.
- Opening a video hosting platform isn’t a good idea, as then you’ll be in direct competition with Youtube.
- Before launching a new product line, you have to think about how you’re going to make it superior to any direct competition you’ll face on the market.
Synonyms and related words: indirect competition, direct competitor, competitive differentiation strategy, selling point, direct marketing