Describe the difference between a competitor and complementor and identify the role complementors play in an...

Describe the difference between a competitor and complementor and identify the role complementors play in an industry.

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Expert Solution

Difference between a competitor and complementor.

Competitor as the name means can be a player whose products will compete with yours. In market, competition between similar products are always seen. A product which decreases the value of your own product is called a competitor. A company has to adopt many strategies to overcome competition and be successful.

On the other hand a complementor can be taken as a player or a product which gives additional value to your products in their presence. In other words your market value of products will go high when a complementor is present.

Role of complementors in an industry.

1. Identifying complimentors is a great asset to the industry.

2. Complementors add value to your service. So it is wise to study what kind of value they offer.

3. There is a big scope of industry when they merge or link with each other and increase their value.

4. With complementors resources are enormous

keosha answered 1 month ago

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