noun
competition, rivalry
B1
Konkurrenz: means 'competition' or 'rivalry', the struggle between businesses or individuals. Feminine noun (die Konkurrenz) with plural Konkurrenzen, though singular collective use is common. No irregular declension. Often appears with prepositions like 'mit' or 'zu' (in Konkurrenz mit/zu) or the phrase 'in Konkurrenz stehen'.
Examples
Unsere Firma hat viel Konkurrenz auf dem Markt.
Our company faces a lot of competition in the market.
Die Firma reduzierte die Preise, weil die Konkurrenz stärker war als erwartet.
The company reduced the prices because the competition was stronger than expected.
Die Konkurrenz zwischen den Teams war intensiv.
The rivalry between the teams was intense.
Details
Mnemonics
Two companies racing each other toward the same finish line.
Sounds like 'concurrence' or 'concurrent'—think of things running at the same time.
die = nouns ending in -enz/-anz are usually feminine; imagine 'the competition' as 'die Konkurrenz'
Notes
Konkurrenz is often used in business contexts (market competition) but can also mean rivalry between people or teams.