(iii) Industry competition :A product faces competition from different companies producing the
same product with similar satisfying capability.
(iv) Brand competition :A product is in competition with different other brands of the same product
category, which are similar to it.
Examples of these four types of competition are given in Table 1.3.
1.13 CLASSIFICATION OF MARKETS
Markets may be classifi ed in a number of ways. Among them, the two important classifi cations are
based on the nature of the product and the traded products.
■Nature of product : Based on the nature of the product, ...
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