Intratype Competition
This article covers meaning & overview of Intratype Competition from marketing perspective.
What is Intratype Competition?
When two or more firms compete for the same set of customers than that type of competition is known as Intratype competition. This type of competition is possible in all types of industries.
Intratype competition takes place in almost all industries be retail, drug store, lifestyle. This type of competition is to capture the share of market. It all depends who gets how much share. So a firm might be targeting the same customers but the product’s quality price may vary which sometimes is the deciding factor. The retail structure is changing because everybody is offering the same thing so create a unique proposition it is important to have a differentiating factor.
Example
Competition between Burger king and McDonalds is known as intra type competition as both the chains are ultimately offering the burgers. So they try to diversify their menus to give variety to their customers.
Insight
The changing habits of the customers like shopping online or ordering on phone has amplified the sphere of intra type competition as people now can get everything offline as well as online. It has become difficult for the marketers to offer something in this challenging environment.
The companies should therefore not enter a business with a me-too outlook but should decide based on their long term goals. They should do a thorough research about the environment and potential of the business. The emphasis should be on the dynamics of the market and a decision based on the long term sustainability of a business should be the key idea.
Key points
1. Service should provide customer satisfaction
2. Product quality and diversification is a must.
3. Changing environment dictate strategies.
4. Long term orientation and constant upgradation is vital for success.
Hence, this concludes the definition of Intratype Competition along with its overview.
Browse the definition and meaning of more similar terms. The Management Dictionary covers over 1800 business concepts from 5 categories.
Continue Reading:
