Understanding Competition
In this era of global trade, each company tries to defeat their competitors. A competitor is the rival. Practically, whenever one talks about competition, emphasis is placed on price, quality of product, customer service and other marketing variables. From the business person’s perspective competition refers to rivalry among firms operating in a market to satisfy the same need of customer. The businessperson’s major interest is to keep the market to himself or herself by adopting appropriate strategies. How and why competition occurs, its intensity, and what escape routes are feasible have not been conceptualized. In other words, there does not exist a theory of competition from the business viewpoint. In recent years, however, Henderson has developed the theory of strategic competition discussed above. Some of the hypotheses on which his theory rests derive from military warfare: • Competitors who persist and survive have a unique advantage over all others. If they did not have this advantage, then others would crowd them out of the market.
• If competitors are different and coexist, then each must have a distinct advantage over the other. Such an advantage can only exist if differences in a competitor’s characteristics match differences in the environment that give those characteristics their relative value.
• Any change in the environment changes the factor weighting of environmental characteristics and, therefore, shifts the boundaries of competitive equilibrium and “competitive segments.’’ Competitors who adapt best or fastest gain an advantage from change in the environment

Marketing Strategies
When a product is introduced in foreign market it has to undergo several processes. If a marketer really wants to capture the market of a developing country he had to follow best marketing strategies in proper manner