According to Business Case Studies, the presence of competitors helps to drive down the profit that a firm can make. Competition in business occurs when many firms sell identical products and act independently to supply ... More »

Competition may benefit businesses if they offer lower costs or meet consumer demands in ways competitors do not, but it can hurt companies who enter into crowded markets and do not offer distinct advantages. To thrive i... More »

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There are three popular strategies that businesses can use to gain an advantage against their competitors: cost leadership, differentiation and focus. Professor Michael Porter of Harvard Business School pioneered these g... More »

A marketing program is a comprehensive and detailed blueprint used in business to attain objectives, including market research, methods of identifying and connecting with target market segments leading to decisions in pr... More »

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Competitive advantage refers to a specific advantage of a business or firm, such as greater financial resources or greater technology, giving it a leg up on the competition. Competitive advantage exists in many forms, an... More »

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Demographics play a crucial role in the success of businesses, as learning consumer characteristics helps a business owner determine what products and services to create and how to market them. Future shifts in demograph... More »

Business owners must file Schedule C, Form 1040, Profit or Loss From Business if the business engaged in an activity for income or profit and is actively involved in the activity regularly and continually, notes the Inte... More »

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