competitive practices

Competitive practices refer to the strategies and behaviors that businesses use to attract customers and gain an advantage in the marketplace. These include offering quality products at fair prices, advertising effectively, and innovating to meet customer needs. Fair competition encourages companies to improve and keeps prices reasonable for consumers. However, some practices—like colluding to fix prices or unfairly limiting rivals—are considered anti-competitive and can harm the market. Regulatory bodies monitor these practices to ensure a level playing field, promoting healthy competition that benefits consumers and the economy.