Victor Kiam, former business executive best known for his purchase of Remington Products, once said “In business, the competition will bite you if you keep running. If you stand still, they will swallow you.”
Most branded manufacturers are well aware of their competitors – and healthy competition makes companies better. Consumers are constantly seeking products with more features and capabilities, products that cost less but can do more, and products that solve their needs and wants better than any other product can. Simply put, when companies compete, consumers get what they want.