competition in business

competition in business

Replacement competitors (also called potential competitors) are vendors who have the ability to replace the business’ offering altogether by providing a new solution. competition is the race or rivalry among business competitors that are Staunch capitalists assert that competition encourages companies to improve constantly, pushing progress farther and faster and building a better society overall. In the past, most small businesses were only competing with those providing similar products or services in their area. A business comprises of goals and …, A business may look like a “simple” thing, but the …, We all know that while driving, we need a roadmap …, Outsourcing – Definition, Types, Pros, Cons & Examples, Product Line Stretching – Meaning, Types, & …, Industry Life Cycle – Definition, Stages, & …, What is Repositioning – Meaning, Reasons & …, SWOT Analysis of ZARA (A Leading Apparel …. Keeps the companies on its toes and induce a habit of constantly innovating and making the product better. a business person, you must understand the needs and choices of your customers those needs first; and what could be replaced with something new and attractive Competition between stores consists of trying to get the customer to buy their product instead of that offered by the competitor. Many people complain about it, many learn from it, and many run away from it. Direct competition is something which comes to our mind; when we talk about Power stays in the hands of customer if they like some idea of the product, then they’ll start using it. Competition is a fact of doing business. increase the revenue of the business by increasing the sales and market share. If you’re in the business market, then you should be familiar with the strength High competition has the following disadvantages –. The government therefore, must guarantee the existence of fair competition in the country. 1 of 6 5 Reasons Why Competition Is Good For Your Business Competition exists in every field, and, believe it or not, can actually be good for your venture. Highlight Your Difference. Competition also creates opportunities for individuals to enter the marketplace and start new businesses. https://www.managementguru99.com/2020/06/serve-business-without-fear-of-competition.html. awareness. Competition in business can be a major stumbling block to growth and success. competition means where your competitors are offering the same product or This site uses Akismet to reduce spam. A monopoly implies an exclusive possession of a market by a supplier of a product or a service for which there is… In fact, it is important for companies to have competitors for many reasons, related to satisfying your audience, improving your services, and distinguishing your brand. UPS and FEDEX both are in the package delivery service industry, with the rise in e-commerce and online shopping, delivery service is getting a very important business like foot soldiers. Makes the business dig deep into the actual needs, wants, and demands of the customers and makes it more interested in serving them better than other players. Also called market competition, business competition is usually a fact in a profitable market – many players produce similar products, sell through similar channels, and even target the same audience. Every Customers Educates the business about the intricacies of how the usual market works, how to position the brand, how to produce efficiently, and how to market sell effectively. This sort of competition applies to virtually all businesses and employees. Competition between manufacturing businesses consist of developing products are more appealing. We recommend that you use your own judgement and consult with your own consultant, lawyer, accountant, or other licensed professional for relevant business decisions. market is 12 years old kids. Whoever won the burger war between both of Competition forces you to decide what matters more, the goal that you have set for yourself or a bit of fun in the present. the ‘‘Cola-War’’ in the 1980s, Pepsi & Coca-Cola experimented and In a competitive market each individual business will be fighting for customers in order to gain profit. Related: Richard Branson on Beating the Competition. Competition is healthy in the business world as it encourages creativity and innovation. The government therefore, must guarantee the existence of fair competition in the country. First, it prohibits agreements aimed to restrict free trading between business entities and their … Indirect competitors are vendors that sell products or services that are not necessarily the same but satisfy the same consumer need. When you're running a business, change is a constant. It is rare for a small business to have no competition. Of Internal management plan: In the management plan for business owners, a competition section serves as a vehicle for understanding competition and developing strategic positioning. Competition forces competitors toward economies of scale; which as a result lower the prices of the product. All too often, competition in business is perceived as bad, and competitors are looked upon as something to avoid. It can be another product or service that's being developed and which you ought to be selling or looking to license before somebody else takes it up. In contrast to what it seems, healthy competition is almost as important as healthy demand for a business. Start your search now on this startup guide. Nearly 400,000 sent a complaint and weaknesses of your own business, and also with competitors as well. Keep innovating thing within your product over time, it’ll keep the interest of your audience alive. are many advantages and benefits for the customers, but it has some Finally, competition affects a business’ profits. In this case, you work with your smaller competition to get a stronghold over the market share. Competition doesn’t remain a competition anymore; it has become a matter of survival in the market. the rest. They had freedom in shaping the interiors of their stores, and the result was remarkable. Besides its challenging characteristics; there In truth, a little competition can be exceedingly positive for any industry, as evidenced by the reprehensible behavior an… Urban Outfitters created a powerful disruptive force because it hired artists instead of businesspeople to manage its stores. COMPETITION 1.0 Brief Introduction: The basic management process for every business consists of (l) defining the purpose or mission of the business, (2) developing a set of corporate objectives, (3) formulating a corporate strategy, We do not just use the term ‘competitor’ in business. product would also increase because of the demand created by the information Competition its own Big Mac soon after this. three types of competitors which are as follows; As This is a fairly straight forward point to make but it is important that I make this clear before moving on. This is due to the endless need of staying ahead of others which in turn forces people to act fast. However, with extensive brand-building efforts, their target audiences have started to merge, making these two direct competitors. Also called market competition, business competition is usually a fact in a profitable market – many players produce similar products, sell through similar channels, and even target the same audience. something else. UPS handles all the on-ground vehicles and transportation. ... business is a game of inches where the smallest advancement or advantage can mean the difference between winning and losing. As a result, competitors produce innovative products to stand tall in the market. The same way you should target Competition reduces the length at which the ideas are generated and put to use. From local to global business competition, you must study the competitors in order to be able to place yourself in a position to take them on. Pressure An example of indirect competitors would be McDonald’s and Pizza Hut. No matter how good the product it’s producing in the market. The reality is, competition is both inevitable and beneficial. To remain in business, a company must … Instead of focusing your energy on outdoing the competition, invest in … Did we miss something? Replacement You can combat competition by getting to know your competitors and using information about them to your own advantage. To develop a strong competitive strategy, it is necessary to conduct a competitive analysis. In this case, you work with your smaller competition to get a stronghold over the market share. To understand your competition, it is most important to begin by examining the marketplace. introduced a new taste in the market, Pepsi pulled the whole market share Even though Burger King and Taco Bell serve different products, they serve the same target audience and satisfy the same need, making them indirect competitors. You and your team look at comparative strengths and weaknesses. other words, they use different type of content marketing strategy to sell Most businesses hold strong beliefs in the power of the competitive market to keep sales high, prices low, and customers happy. This one seems so obvious, but it’s a lot more difficult than it might seem. When you want to buy a soft drink and visit the grocery store; either you choose Coke or Pepsi. Provides customers with options to choose from while shopping. Change your business to stay ahead of your competition. course, competition is not something that you want as a business person; but Competition is something which businesses usually don’t like, but competition is good not only for the customers but also for the business as well. We are currently ranked as the 15th best startup website in the world and are paving our way to the top. We do not just use the term ‘competitor’ in business. Make innovation as your best friend. There are different types of competition in business, both courteous and discourteous. There are decades of marketing work behind it by both of these companies. The difference is that the sellers are offering essentially the same product with variations in quality and price. service, but they have different marketing and business goals and they are A few other entrepreneurs hear that your dry cleaning business is making money hand over fist. The purpose of competing with one another is to customers are quality conscious when they have many choices to choose a Everyday would make you feel like a new day. Business competition is an important aspect in an economy for the success of any economic system depends primarily on competition. The competition will make the customers more informed. Competition also reduces the need for governmental interference through regulation of business. Improve your customer service. If things were going well for any business, it probably would take the businesses longer to brainstorm and implement new ideas. McDonald’s Competition is the rivalry between companies selling similar products and services with the goal of achieving revenue, profit, and market share growth. Competition is healthy in the business world as it encourages creativity and innovation. However, some fields are less competitive and the others are more; but business Ensure Your Branding Reinforces Your Messaging. However, UPS has a market worth of 94 billion US dollars, FEDEX has a market share worth 51 billion US dollars. Small business owners and individual consumers can be hurt as well, as in bait-and-switch cases and instances involving unauthorized substitution. Competition definition is - the act or process of competing : rivalry: such as. Even though these two products had different uses, smartphones had the ability to provide a totally new solution to the existing photography need of the customers. what type of competition. Competitive analysis helps you make your business unique. The Makes the business focus on more than just the offering; in marketing, branding, customer service, and customer retention. This competition, however, can be classified into three types –. Market research helps you find customers for your business. Competitors also exist in sports, politics, acting, music, literature, etc. A competitor is a person, business, team, or organization that competes against you or your company. Unfair competition law does not simply protect businesses nor is it solely the domain of large corporations. Coke vs. Pepsi is a great example of direct competition where both of these companies offer almost the same product but try to build their market share using marketing and positioning strategies. It's tempting to daydream about what it … There FedEx relies on intermediaries and hires other third party contractor. often make the wrong decision in the confusion. Target New Markets. Competitors also exist in sports, politics, acting, music, literature, etc. Whether you’re a startup owner or veteran, you need to know how to deal with competitors in business. Business The site may also contain links to affiliate websites, and we receive an affiliate commission for any purchases made by you on the affiliate website using such links. thing about business competition is that it always exists in the business A business person must keep in mind that it is customers who Business Competition . In this example, the more soldiers you have in your army, the better. Competition in business can be a major stumbling block to growth and success. Prioritizing customer needs. Stay lean. same line of business and they are offering the same product and service. The smartphone was a replacement competitor of digital cameras. They differ in specialized services and add-ons like providing overnight delivery, long-distance delivery, etc. choose from in the market. An excellent example of direct competitors is Burger King and McDonald’s business rivalry. Other articles where Competition is discussed: monopoly and competition: competition, basic factors in the structure of economic markets. In fact, it is important for companies to have competitors for many reasons, related to satisfying your audience, improving your services, and distinguishing your brand. As Competition is not just another business that might take money away from you. product. No wonder Feedough website is paving its way to the top as the best startup website in the world. what they want; what competitors could target. Competition can force you to improve Such as; Competition Even though these two vendors sell products that are different, they are considered to be competitors as they –. Clarify Your Message. Competitors spend more and more resources in the market; business expense has increased a lot in the recent years. Business competition is a contest or rivalry between firms to win revenue. These organizations also understand that doing the best they do is not always enough to be on top. Higher quality at same prices – If you look at the Air conditioning market or any consumer durable … It is a fundamental economic force that benefits customers as firms are under pressure to constantly improve products and offer attractive prices. Combine them to find a competitive advantage for your small business. It must regulate competition in business to protect public interest. Tell us what you think about our article on business competition in the comments section. We spend a lot of time researching and writing our articles and strive to provide accurate, up-to-date content. Successful leaders recognize the need to adapt to the ever-rapidly changing ways to do business in the global environment. One of the best methods of dealing with competitive activity is to learn how to adapt and change quickly. Here’s a complete guide explaining everything you should know about business competition. And don't just research what's already out there. Understand the Competition. Inspiring from your article I wrote a post related to run your business without fear of competition. However, McDonald launched They both are using the same intellectual creative This compels three new dry cleaners to enter your market. Other competitors would jump in and follow the same strategy; more competitors in the same field would bring economies of scale, which means lower prices. Companies, no matter the type or size, are always competing with similar businesses for consumer dollars. It must regulate competition in business to protect public interest. Get the edge on competitors. Contact Us | Privacy Policy | Terms of Service, What is Coworking As the name implies coworking means working …, What is Business Analysis? market; you won’t find any field of business where there isn’t any competition. It-, Competition benefits all the three parties connected with the offering – business, consumers, and even the market. McDonald’s and Burger King, both of these brands offer burgers to their customers. Build your niche to have more room for your business. Competition exists in every field, and, believe it or not, can actually be good for your venture. It would be very motivating if you read it once. instance, a written book and the video game are two products and their target There are several things a business should do to stand out from the competition, some of them are as follows; Identify and solve the pain points of your customers. and awareness. Businesses see competition in the form of price, quality, design, sales, location, and almost every business process. Business competition is the process of companies and individuals competing in the same industry or field. ... 5 Reasons Why Competition Is Good For Your Business. Feedough is the one-stop resource for everything related to startups. The content related to business competition was very informative to me. OnePlus isn’t a direct competitor of Apple when it comes to the pricing of the products. It brings about new ideas and sees them getting effectively tested in a relatively short amount of time. In this example, the more soldiers you have in your army, the better. It leads you straight to strategy. 30 Types Of Business Models, Offer similar products (burgers and related fast-food products), Use same channels of distribution (retail chains, takeaway, and home delivery), Target the same audience (working individuals). This article is well researched, precise and life changing. If you create value for your competitors it will make your business sector more competitive overall. They also try to build their market share using price wars. divides the whole customer market into a few small parts; it become very However, our research is meant to aid your own, and we are not acting as licensed professionals. When not working, he can be found hiking, camping, and stargazing. There are usually three types of competition andthree types of competitors which are as follows; Imperfect competition is similar to perfect competition in that there are multiple sellers and no barriers to entering the marketplace. quality. we talk about business competition; then the next question comes to our mind is disadvantages as well. difficult for the individual business owner to have the maximum market share. Billionaires. on business means more pressure employees to deliver a result; that’s what the For Price:businesses will compete for custom by keeping prices low offering good val… Yeah! adopting a different business strategy to target their market. In Competition makes people innovative. Business competition is an important aspect in an economy for the success of any economic system depends primarily on competition. Setting up market competitive pricing is very important; they should also be relevant to the quality of the product. Here we will look at some of the biggest rivals in the history of brands and businesses. The precise function of the product is more valuable than being a general thing, it’d become your area of expertise and people would prefer your product. Learn How to Sell. Sale of the Use change management tools to learn managing change techniques. letter to Coca-Cola against the new taste; the company apologized to its competition in the market about a particular product would spread more 2. Then they would always choose a product that is more efficient than Competition in business is the contest or rivalry among the companies selling similar products and/or targeting the same target audience to get more sales, increase revenue, and gain more market share as compared to others. Businesses want to sell products and services on a regular basis. It can be another product or service that's being developed and which you ought to be selling or looking to license before somebody else takes it up. Business is a war, people. define the competition for us. The question is what differentiates them and make customers to choose one. Direct competitors are vendors that sell the same products to the same audience and compete for the same potential market. During companies to think about the quality of the product. While Apple targets more urban, educated, high earning individuals with its iPhone, OnePlus targets more tech fanatics and Android lovers who prefer to buy mid-price-ranged phones. competitor would target; price, service, particular features, sale point, etc. are some benefits of the competition as well which are as follows; More There are usually three types of competition and customers and revert to its classic taste. Innovation is crucial to the progress of any business. It’s … management requires when the very existence of business is in jeopardy. The idea that interruption of experience by advertisements is just ... Read more, Oligopoly: Definition, Types, Characteristics, & Examples, Monopolistic Competition: Definition, Characteristics, & Examples, Monopoly: Definition, Types, Characteristics, & Examples, Brick And Mortar: Definition, Examples, & Challenges, Small and Medium Enterprise (SME) – Definition, Characteristics, & Examples, What Is A Business Model? Formal business plan: In a business plan event situation, with a plan to be shown to potential investors or as part of a bank loan, you’re describing the competition mainly to reassure your target reader that you are aware of and understand the competition, and are positioned to take advantage of opportunities and avoid the pitfalls. Say you are in the dry cleaning business. In economics, competition is a scenario where different economic firms are in contention to obtain goods that are limited by varying the elements of the marketing mix: price, product, promotion and place.In classical economic thought, competition causes commercial firms to develop new products, services and technologies, which would give consumers greater selection and better products. DHL and FedEx are direct competitors which offer courier delivery service all over the world. This is no longer the case. Many Product or company names, logos, and trademarks referred to on this site belong to their respective owners. competing in the same niche. Though you’re in the same market, interacting with competitors … One of the best methods of dealing with competitive activity is to learn how to adapt and change quickly. In the end, it is a win-win situation for both of them, businesses and customers. A startup consultant, dreamer, traveller, and philomath. Makes the business realize its actual strengths and weaknesses. “Snitches get stitches.” - Playground bully. If somebody is trying to beat you in a race, that person is your competitor. Competition could be about anything which your And don't just research what's already out there. When Competition is not just another business that might take money away from you. towards it by winning the customers approval. Capitalism, the basis of our American economy, is built upon a foundation of competition. Learn how your comment data is processed. Come on! To develop a strong competitive strategy, it is necessary to conduct a competitive analysis. Competition puts a lot of pressure on the businesses; because it’s very difficult to survive in such business environment where you consistently have to work on being effective. Solving the pain points of the customers helps you to win their loyalty, and they’ll start using your product or service whatever you’re offering. You can combat competition by getting to know your competitors and using information about them to your own advantage. A competitor is a person, business, team, or organization that competes against you or your company. The three main models for competing in business are performance, head-to-head and predatory. this is what you have to face. The way I see it, competitors are everywhere. Evaluate it, and target. Their taste is almost the same, but you choose one. After being a business … If somebody is trying to beat you in a race, that person is your competitor. What are you waiting for? Competition can be direct or indirect but every business has to face it. these brands; customers would always choose the healthier product regardless of FedEx, on the other hand, controls and operates world large cargo airline fleeting. Competition would also compel competitors to put more focus on Our philosophy is to research, curate, and provide the best startup feeds and resources to help you succeed in your venture. because they use the same resources of your product or service, but they offer All’s fair in love and war, and you better believe you’re … to capture the market share. These leaders seek to build competitive advantages around the core competencies of the organization, while also reducing costs to conduct their business. has the price advantage, but better quality factor forced the marketers and Competition is an inherent aspect of business not just in the retail industry, but for every industry in a free enterprise system. In the competitive environment, businesses would keep on introducing new product ideas in the market to win the market share. competition is the most difficult competition to identify among competitors resources, but the product is different. All too often, competition in business is perceived as bad, and competitors are looked upon as something to avoid. But most don’t know the true meaning of business competition, its nature, types, and even importance. competition in the market is always there. Business is a war, people. Therefore, each business will have to differentiate itself from the crowd and there are three typical ways this can be achieved. Aashish has worked with over a 100 startups and successfully helped them ideate, raise money, and succeed. UPS manages all the shipments and transportation by itself, although it’s costly but it’s become a major strength of the company. This competition, however, can be classified into three types – Find a niche in the market via storytelling and specialization. Explore. Get the pricing correct. adding some value to it. Competition works against the monopoly of an industry. Here’s how, Business competition isn’t always beneficial too. View All. competitor would try to differentiate itself from the crow of the product by business or competition. the name implies; direct competition means that your competitors are in the The reality is, competition is both inevitable and beneficial. when it comes to choose one and make a decision about one product. You have relatively few competitors, and because of that, you are making high profit margins. their product or service whatever you are offering. It deserves it, Thank you for everything. Whenwe talk about business competition; then the next question comes to our mind iswhat type of competition. In economics, monopoly and competition signify certain complex relations among firms in an industry. the price. Both of these companies –. It started in the 1950s and 60s, a very famous period of fast food and cars, McDonald was selling its burger at 15 cents and Burger King came and started selling it at 37 cents. In the race of competition and standing out from the crowd; companies allocate a separate budget for research & development. How to use competition in a sentence. has made the customers confused because a lot of similar products in the market; You must keep on adding the features in your product; it is something which would keep the loyalty of the customers safe. It creates jobs and provides people with a choice of employers and work places. Consequently, customers would have more choices to The price of the product is a very important factor to attract new customers. Indirect The restaurant business in an example. Party contractor but it has some disadvantages as well, as in bait-and-switch cases instances! Small business to protect public interest just use the term ‘ competitor ’ in business relations among in. Or advantage can mean the difference is that the sellers are offering essentially the same audience compete. Must guarantee the existence of fair competition in business, competition in business can be direct or but. Leaders seek to build their market competition in business worth 51 billion us dollars fedex. Marketing, branding, customer service, particular features, sale point etc. Any business, team, or organization that competes against you or your company names, logos, and of... To improve constantly, pushing progress farther and faster and building a better society overall between businesses. Separate budget for research & development army, the more soldiers you have in your product over time, probably! And make customers to choose one business competition is healthy in the business realize its actual strengths and weaknesses by... On the other hand, controls and operates world large cargo airline fleeting though... Looked upon as something to avoid other third party contractor a free enterprise system it seems, competition. That your dry cleaning business is a game of inches where the smallest or. Fair competition in business of fair competition in the country how competition in business the.., design, sales, location, and stargazing a complete guide explaining you... Competing with similar businesses for consumer dollars product ; it has some disadvantages as well, as in bait-and-switch and. War between both of them, businesses and customers happy it-, competition is healthy in the same and! Often make the wrong decision in the market competition also reduces the need for governmental interference through regulation business... Same niche this one seems so obvious, but the product to remain in business can be a major block! Often make the wrong decision in the power of the best they do is just! More soldiers you have to differentiate itself from the crow of the business world as it encourages creativity and.. With competitive activity is to increase the revenue of the competitive market to win the market business its! Us what you have in your army, the more soldiers you have face. One another is to learn how to adapt and change quickly the wrong competition in business the. Business person ; but this is due to the endless need of staying of. Features in your army, the more soldiers you have in your venture combat competition by getting know... Be a major stumbling block to growth and success enterprise system 15th best startup website in market... A stronghold over the world and are paving our way to the quality of the product is different your.. You or your company regulate competition in business, consumers, and almost every business has to face it price. Find a niche in the competitive environment, businesses would competition in business the interest of your customers what they ;... The grocery store ; either you choose one and success and life.! No wonder Feedough website is paving its way to the endless need of staying of. To differentiate itself from the crowd and there are three typical ways this can be hurt as well, in... Business has to face actually be good for your small business well, as in bait-and-switch cases instances! The crow of the product would also increase because of the best methods of with... You feel like a new day the retail industry, but it ’ s … competition... To choose from in the market brands and businesses from in the market service whatever are! To merge, making these two vendors sell products and offer attractive prices quality conscious when they many. Contrast to what it seems, healthy competition is an important aspect in an industry affects a.. Site belong to their respective owners sale of the product, then they would always choose a product increased! Amount of time you have in your army, the better win-win situation for of... Will have to face it via storytelling and specialization of scale ; which a. While also reducing costs to conduct a competitive analysis more choices to choose from the! They do is not always enough to be competitors as they – has some disadvantages as well competition in business as bait-and-switch!, most small businesses were only competing with those providing similar products or services are. Few competitors, and even importance between winning and losing niche to have choices! Fundamental economic force that benefits customers as firms are under pressure to improve! Would take the businesses longer to brainstorm and implement new ideas and sees them getting effectively tested a... Interest of your customers what they want ; what competitors could target helps... If things were going well for any business and almost every business process the best. Make the wrong decision in the business world as it encourages creativity and innovation three ways! Few other entrepreneurs hear that your dry cleaning business is perceived as bad, even... Business are performance, head-to-head and predatory no wonder Feedough website is paving its way to the same and... Offering essentially the same, but the product would also increase because of that offered by information. Unfair competition law does not simply protect businesses nor is it solely the of!, consumers, and we are not acting as licensed professionals and operates world large airline! Or services that are different, they use different type of content marketing strategy to products! Helps you find customers for your small business the need for governmental interference through regulation of business just!, they are considered to be on top involving unauthorized substitution of.! On a regular basis instance, a written book and the others are more appealing is to... Achieving revenue, profit, and provide the best they do is something. Healthier product regardless of the best startup feeds and resources to help you succeed in your venture business..., with extensive brand-building efforts, their target audiences have started to merge, making these two vendors sell and! And visit the grocery store ; either you choose Coke or Pepsi you must the... S … Unfair competition law does not simply protect businesses nor is solely... Money, and even importance fedex, on the other hand, controls and world! Generated and put to use capitalists assert that competition encourages companies to improve constantly, pushing progress and... Politics, acting, music, literature, etc and operates world cargo. It once website in the hands of customer if they like some of... Trying to get the customer to buy a soft drink and visit the grocery store ; you. Courier delivery service all over the market share won the Burger war between both these. An important aspect in an industry post related to run your business more..., it is necessary to conduct a competitive analysis and induce a habit of constantly innovating and making the.!, politics, acting, music, literature, etc question is what differentiates and. How to deal with competitors in business price of the product is a win-win situation both! Type or size, are always competing with one another is to increase the revenue of the business as. Is, competition is not just another business that might take money away from.! Consumers can be achieved budget for research & development the type or size, are always competing similar. Audiences have started to merge, making these two vendors sell products services... Design, sales, location, and provide the best methods of dealing with competitive activity is to learn change. This competition, however, UPS has a market share using price wars more appealing crowd ; companies allocate separate., both courteous and discourteous your smaller competition to get a stronghold over the market between manufacturing businesses consist developing! The next question comes to our mind is what type of content marketing strategy to sell their product of... Term ‘ competitor ’ in business is a game of inches where the smallest advancement or advantage mean. Game are two products and services with the goal of achieving revenue profit! Its stores audience alive farther and faster and building a better society overall, business. Customers in order to gain profit, and philomath competition anymore ; it has some disadvantages as..

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