How does a market structure and changes in the environment affect the intensity of the competition of a marketing consultancy firm in HK?

The market structure in Hong Kong, characterized by a mix of oligopoly and monopolistic competition, influences the intensity of competition among marketing consultancy firms by dictating pricing strategies and service differentiation. Changes in the environment, such as economic fluctuations, technological advancements, and evolving consumer preferences, further intensify this competition as firms must adapt rapidly to maintain relevance. Additionally, regulatory changes can reshape market dynamics, prompting firms to innovate or adjust their offerings to meet new compliance standards. Consequently, the interplay between market structure and environmental changes necessitates agility and strategic foresight for firms to thrive in a competitive landscape.