The parrotfish and lobster fisheries play important ecological functions. Besides the ecological functions, the fisheries are important market assets exploited for food and income and cater for different markets. Because of the differences in the value of the two fisheries, competitive strategies employed by fishers and traders and the implications of these on resources and livelihoods are likely to be different. In spite of the ecological and economic importance of these fisheries, information regarding competitive strategies and how these influence livelihoods and resources have not been empirically examined among these fisheries in Kenya. Such strategies are likely to have different implications on the resources as well as livelihood/wellbeing of actors.The study employs the structure-conduct-performance framework to understand these dynamics by studying the two fishery types representing both low and high value fisheries that have different market characteristics. The study analyzes the structure, competitive strategies and performance of both fisheries at five representative sites along the Kenyan coast. A comparison of the two fisheries shows differences in terms of actor characteristics, volumes and value, as well performance/profitability of individual actors.