Competition gives an opportunity, encouragement and incentive to do good, better, best.
Onur Cobanli explains:
Great design products are those that you want to have and experience repeatedly; as you know design is not just about products but about projects, services, and experiences. Great designs are especially addictive as experiences and services but also as projects and products; you may enjoy good design but you will not order it again if you are full; addictive means buying or consuming these products even though you do not actually need them currently; such products create a new type of motivation to push you towards a purchase; they may be collectible, or they may make you proud; they may have a story to tell; great designs pull clients and customers emotionally, you know you have a great design when you can sell it even if your customers do not need it or you buy it when you do not need it; it is not about functional needs; such needs are more emotional and maybe about prestige, self-appreciation and self-satisfaction. Sometimes people say they compensate things they lack with products; but I think that is oversimplification; I think most people seek something they value within themselves in products and designs they buy; if people value grandeur, they look for luxury products and designs that bring grandeur, if people value being unique, they look for custom products, perhaps hand-crafted items; great design satisfy an emotional aspect in this sense; all great design incorporates an important emotional aspect that people wish to grow and communicate.