Wider Concept of A Business' Competitor

Many businesses only consider their competition to be other businesses who provide the same product or service. Thus, Barnes & Noble might only consider Borders or WaldenBooks to be its competitors. But a business' competitor is any other entity with which that business' customers might compare it (Connellan 17-18).

For example, a customer who mail orders a book from Barnes & Noble might have to confirm his or her address with FedEx before the book can be delivered. That customer now has an opportunity to compare Barnes & Noble's customer service with FedEx's customer service. If Barnes & Noble fares poorly in the comparison, that customer might very well consider trying Borders the next time he or she needs to order a book. Another example could be the customer who regularly shops at Barnes & Noble, but has always been just a little dissatisfied with the selection and service. Still, it's a large store, so she can usually find something that will fit her needs. But then she shops at CostCo one day and is simply blown away by the selection and service there. After that experience, she no longer wants to settle for Barnes & Nob

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Category: Business - W