Answer:
Creating an innovative product.
Step-by-step explanation:
So, to make things simple, competitive market means that there is an open market that every company or a product can enter or exit freely. Since there are lot of products from different companies there is a rivalry between them to win over customers to buy their products. They do so by lowering the price, making special offers or innovating the product to enhance the its performances, upgrade it or ameliorate it in any way. In this case, we see that new smartphone is faster which means its features were upgraded, made better so we now have an innovative product.