How do businesses handle competition? - IELTS Speaking Part 3

Answer: Businesses may handle competition in various ways, such as by differentiating themselves from competitors through unique products or services, or by lowering prices to remain competitive. Reason: Competition is a natural aspect of the business world, and businesses need to adapt and innovate in order to remain competitive and succeed. Example: For example, a restaurant may differentiate itself from competitors by offering unique menu items or by providing exceptional customer service. Similarly, a tech company may lower prices or offer new features to remain competitive in the market. Alternative: However, some businesses may resort to unethical practices such as price-fixing or unfair competition, which can harm both competitors and consumers.