Competition is something which businesses usually don’t like, but competition is good not only for the customers but also for the business as well. Competition works against the monopoly of an industry. In the competitive environment, businesses would keep on introducing new product ideas in the market to win the market share. Power stays in the hands of customer if they like some idea of the product, then they’ll start using it. Other competitors would jump in and follow the same strategy; more competitors in the same field would bring economies of scale, which means lower prices. In the end, it is a win-win situation for both of them, businesses and customers.