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Competitive Scenario Simulation
The use of simulation models to predict how different competitive scenarios might play out, helping companies prepare for various outcomes.
Implications
The process of creating and testing different competitive scenarios to understand potential outcomes and prepare strategic responses, often used in strategic planning and risk management.
Example
Example: A telecom company runs competitive scenario simulations to explore how market share might shift if a major competitor launches a new pricing plan, helping to prepare counter-strategies.
Related Terms
Different from traditional forecasting, which predicts likely outcomes based on current trends, scenario simulation explores multiple hypothetical situations to anticipate competitive moves.
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