Markets and competitors

Companies and markets

You can talk about the poeple or organizations who buy particular goods or services as the market for them, as in the ‘car market’, ‘the market for financial services’, etc. Buyers and sellers of particular goods or services in a place, or those that might buy them, form a market.

If a company :
enters penetrates		it starts selling there for the first time.
abandons gets out of leaves		it stops selling there.
dominates	a market	it is the most important company selling there.
corners monopolizes		it is the only company selling there.
drives another company out of		it makes the other company leave the market, perhaps because it can no longer compete

Words

penetrate /ˈpenətreɪt/ ★☆☆ vi, vt.

to enter something and pass or spread through it, especially when this is difficult like pierce

Sunlight barely penetrated the armour plating.

abandon /əˈbændən/ ★★☆ W3 vt.

to leave someone, especially someone you are responsible for

Hw could she abandon her own child?

get out of something phv.

to avoid doing something you have promised to do or are supposed to do

See if you can get out of that meeting tomorrow.

dominate /ˈdɒməneɪt $ ˈdɑː-/ ★★☆ W3 vi, vt.

to control someone or something or to have more importance than other people or things

The industry is dominated by five multinational companies.

corner /ˈkɔːnə $ ˈkɔːrnər/ ★★★ S1 W2 v.

to gain control of the whole supply of a particular type of goods or services

Singapore has made significant efforts to corner the market in this type of specialized service company.

monopolize  /məˈnɒpəlaɪz $ -ˈnɑː-/ vt.

to have complete control over something so that otehr people cannot share it or take part in it.

The company has monoplizedthe soft drinks market.

More word combinations with ‘market’

		‘Market’ is often used in these combinations:
	growth	In the late 1990s, Internet use was doubling every 100 days. Market growth was incredible.
	segment	Women are a particularly interesting target for the Volvo V70. They are an important market segment for Volvo.
market	segmentation	The Softco software company divides the software market into large companies, small companies, home office usres, and leisure users. This is its market segmentation.
	share	Among UK supermarkets, Tesco sells more than any of the other chains. It has the highest market share.
	leader	Tesco is the market leader aomong UK supermarkets as it sells more than any of the other chains.

Words

segment /ˈseɡmənt/ ★☆☆ n.

[countable] a part of something that is different from or affected differently from the whole in some way

segments of the population

segmentation /ˌseɡmenˈteɪʃən, -mən-/ n.

[uncountable] when something divides or is divided into smaller parts

the segmentation of society

Competitors and competition

Companies or products in the same market are competitors or rivals. Competitors compete with each other to sell more, be more successful, etc.

The most important companies in a particular market are often referred to as key players.

Competition describes the activity of tyring to sell more and be more successful. When competition is strong, you can say that it is intense, stiff, fierce or tough. If not, it may be described as low-key.

The competition refers to all the products, businesses, etc. competing in a particular situation, seen as a group.

Words

compete /kəmˈpiːt/ ★★★ S3 W3 vi.

if one company or country competes with another, it tries to get people to buy its goods or services rather than those available from another company or country.

They found themselves competing with foreign companies for a share of the market.

competitor /kəmˈpetɪtə $ -ər/ ★★☆ n.

[countable] a person, team, company etc that is competing with another

Last year they sold twice as many computers as their competitors.

competition /ˌkɒmpəˈtɪʃən $ ˌkɑːm-/ ★★★ S2 W1 n.

[uncountable] a situation in which people or organizations try to be more successful than other people or organizations

Competition for the job was intense.

intense /ɪnˈtens/ ★★☆ W3 adj.

having a very strong effect or felt very strongly

Young people today are under intense pressure to succeed.

stiff /stɪf/ ★★☆ S3 adj.

difficult to do or deal with

a stiff test

if someone or a part of their body is stiff their muscles hurt and it is difficult for them to move

Her legs were stiff from kneeling.

fierce /fɪəs $ fɪrs/ ★★☆ adj.

done with a lot of energe and strong feelings, and sometimes violence

fierce fighting in the city

low-key adj.

not intended to attract a lot of attention to an event, subject, or thing

They want tthe funeral to be as low-key as possible

It is the end of this time : )