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A very important chapter!
You should now have a good understanding of the conditions a business might find in the market it operates in. You should know that the degree of competition facing a business is a significant factor affecting its ability to set a price and make a profit.
This chapter is about the things a business can do to take advantage of market conditions or alter those conditions e.g. so as to gain more power to set a price. In this chapter you will be thinking about competition strategies.
Make sure that you understand each of the following strategies and attempt all of the tasks you come across. This really is a vital part of your unit 2 study: take time to understand the ideas in this chapter.
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