When you are thinking about business strategy it is important to focus on the business competition and the different levels of competitions. The 5 C”s Model of Competition is a very useful framework for assessing the level of competitive intensity in your market and thinking about the opportunities and threats that competition presents.
It is easy to take competition for granted and not to recognise the subtle different forms that exist. I know from my experience with price wars, your actions can influence your competitors for better or worse, intentionally or unintentionally.