A "versenytárs" is a Hungarian term that translates to "competitor" in English. It refers to an individual or organization that competes with others in the same market or industry. Versenytársak strive to attract the same customers and gain a larger market share, often leading to innovation and improved services. In business, understanding your versenytárs is crucial for strategic planning. Companies analyze their versenytársak to identify strengths and weaknesses, which helps them develop effective marketing strategies. This competitive analysis can involve studying pricing, product offerings, and customer service practices to stay ahead in the market.