A close competition is the rivalry between two similar companies that offer alternative products to one another. For completion to qualify to be a close competition, the two companies involved must be big enough financially and physically. In a close competition, the two players overshadow the presence of other organizations within the industry. Close competitors invest a lot in marketing to ensure that their brands remain in the minds of the consumers at all times.
The characteristics of a close competition include the symbiotic relationship between the competitors. In a close competition, the success of one company amounts to the success of the competitor. The competitors help one another to innovate and create different …
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