The document discusses various strategies for dealing with competition, including how to identify competitors, analyze their strengths and weaknesses, expand market share, and compete effectively. It outlines different competitive strategies such as being a market challenger, follower, or niche player. Market challengers should define objectives, choose a general or specific attack strategy, and approaches like frontal, flank or guerrilla attacks. Followers can imitate or adapt competitors' strategies. Niche players specialize in specific customer types or attributes. The optimal strategies depend on analyzing industry forces and competitors using tools like SWOT analysis and competitor matrices.