Competition authorities all over the world monitor competition on markets. They increasingly rely on expert economic assessments of the impact on competition and consumers when they scrutinize commercial activity.
Securing Favorable Terms
In economics, competition is the rivalry among sellers trying to achieve such goals as increasing profits, market share, and sales volume by varying the elements of the marketing mix: price, product, distribution, and promotion. Merriam Webster defines competition in business as “the effort of two or more parties acting independently to secure business by offering favorable terms.”
In his 1776 The Wealth of Nations, Adam Smith described it as the exercise of allocating productive resources to their most highly valued uses and encouraging efficiency, an explanation that quickly found support among liberal economists opposing the monopolistic practices of mercantilism, the dominant economic philosophy of the time. Smith and other classical economists referred to price rivalry.
Key Benefits of the Service
Customer-centric businesses build a virtuous cycle we call the customer wheel. We help companies at every stage of growth, developing custom solutions and collaborating with all levels of your business.
- We help you understand customer behaviors
- We help break down barriers to innovation
- We help resolve the pricing paradox
- We help align brand strategy with key objectives
- We help companies nurture loyal customers who are more profitable
We help companies identify quick, targeted, customized solutions as well as strategic and operational improvements to boost underperforming sales organizations.
We help clients define the target customer or sweet spot — the area of distinct advantage over competitors—to inform business decisions and investment allocation.
We ensure marketing investments are generating highest returns and reinforcing the brand positioning; and build a loyal customer base through branding that cultivates a strong, trusted image.
We work with companies to develop a series of positive interactions with the customer to earn their advocacy and inform consistent delivery of experiences to drive top-line growth.