Be a dominant competitor in that selected market.  

@Cheza M. you can start by comparing the info we provide on our website to competitors...

This is why I suggested not doing business with a guy that drags in a $5 sandwich from a competitor, clearly labelled. 

Also, more pragmatically, no one refers business to their competitor.

In pure capitalism, it is inevitable that randomly, one competitor in an industry eventually gets so big such that they can acquire, squash, and price out any future would be competition.

But, as a turnkey company owner, I share the roll of representing the industry in a positive light with a lot of our competitors that I respect a great deal.

This includes trends in consumer behavior, technology adoption, and any industry-specific developments.Regulatory Environment:Be aware of the local regulatory environment and any recent changes in policies that may affect businesses.Competitive Landscape:Identify key competitors in the area and understand their market share.

I’ve studied countless competitors (currently working thru 30+ competitors within the west coast market that I sell in). 

I definitely recommend competitive research to see what your competitors are doing and how you can do it better on your website.

When hotels want to build a new hotel they know the competition and the announced new competitors.