intratype (adjective, in-tra-type, \ ˈɪntrətaɪp \) competition (noun, com-pe-ti-tion, \ ˌkɑːmpəˈtɪʃn \)
Definition: is a type of competition that exists in a market when two or more companies operate in the same industry and share the same target audience. Intratype competition is possible in virtually all industries that aren’t monopolized and presents a company with a challenge to secure a share of the larger market for itself. For instance, such competition exists between various supermarket chains, pizzerias, coffee shops, office supply stores, etc.
In a Sentence:
- Our intratype competition is crushing our little tea shop store. Ever since they introduced ten new exotic flavors, we’ve lost about a third of our clients.
- Since the very beginning, Burger King and McDonald’s have existed in an intratype competition relationship. That’s why both chains have always felt the need to widen their menus beyond burgers to get ahead of the competition.
- If we expand our production to soda drinks, we’ll have to face serious intratype competition from Coca-Cola and Pepsi.
Synonyms and related words: brand competition, intertype competition, monopolistic competition, pure competition, direct competition