1. A market characterized by many buyers and sellers offering similar products or services, where no single participant can significantly influence prices or market conditions
In a competitive market, businesses must continuously innovate to maintain their market share.
Em um mercado competitivo, as empresas devem inovar continuamente para manter sua participação de mercado.
2. An economic environment where price competition, quality, and customer service drive business success
The smartphone industry is a highly competitive market with multiple major players.
A indústria de smartphones é um mercado altamente competitivo com vários atores importantes.