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English definition of “competitive”

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competitive

adjective
 
 
/kəmˈpetɪtɪv/ COMMERCE, ECONOMICS
involving or encouraging competition: highly/extremely/fiercely competitive The severe downturn in the worldwide semiconductor market has increased competitive pressures in the Japanese market. The corporate watchdog law requires large companies to formalize competitive processes for selecting vendors.
competitive prices, services, etc. are as good as or better than other prices, services, etc.: The technology exists to convert grain and sugar to ethanol at a competitive price. We know we have competitive products to sell, if only consumers had access to them. The hotel works hard to offer competitive salaries and benefits to our employees. We can't put up our prices and still remain competitive with similar brands.
competitively /kəmˈpetɪtɪvli/ US   /-ˈpeṱəţɪv-/ adverb
(Definition of competitive from the Cambridge Business English Dictionary © Cambridge University Press)
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