Competition And Industry

Competition is the rivalry between companies selling similar products and services with the goal of achieving revenue, profit, and market share growth. Companies strive to increase sales volume by utilizing the 4 components of marketing mix, also referred to as the 4 P's: Product, Place, Promotion, Place.All organizations must consider their competition, whether it is direct or indirect competition vying for the consumer’s dollar. Both nonprofit and for-profit organizations compete for customers’ resources. Coke and Pepsi are direct competitors in the soft drink industry, Apple and Samsung are competitors in the Cellphone manufacturing. A group of competitors that provide similar products or services form an industry. Michael Porter, a professor at Harvard University and a leading authority on competitive strategy, developed an approach for analyzing industries. Called the five forces model and shown in the figure below. The framework helps organizations understand their current competitors as well as organizations that could become competitors in the future. As such, firms can find the best way to defend their position in the industry.

Bargaining powers of suppliers and buyers have less say than the threats posed by the potential entrants of new product and substitutes offered in the market.

Chief Global Competition for Duracell Include companies like

1) Energizer

2) Sanyo

3) Panasonic

4) Sony

5) Toshiba

6) Ultralite

7) Matsushita