competitive (and anti-competitive) behaviour

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The conduct of businesses in market situations involving actions and reactions to achieve advantage over rivals. Strong competition is usually beneficial to the consumer. Most governments in the advanced economies are dedicated to inculcating competitive behaviour and discouraging anti-competitive behaviour (such as monopoly, cartels, collusion to limit supply, predatory pricing to drive competitors out of business, and price fixing). Strong and unbiased enforcement of competition policy is one of the key elements in the creation of a modern market economy. Effective marketing depends upon a strong climate of competition and effective regulation of anti-competitive practices that are inimical to consumer interests. The EU and the US have learned from experience that lively domestic competition leads to greater international competitiveness. Weak enforcement of competition policy all too often hinders innovation or else leads to inefficient allocation of resources in the economy and high input costs for business, and hits the defenceless consumer hardest. EU regulatory bodies on competition can fine a company up to 10% of its total world turnover for anti-competitive behaviour and actions.

Subjects: Marketing.

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