What is a substitute product?
A) A product that is exactly the same as another
B) A product that performs a similar function but is not exactly the same as another
C) A completely different product
D) A product that goes well with another product
E) Another product which customers like
Correct Answer:
Verified
Q23: The threat of new entrants is high
Q24: Substitutes form:
A) Price floor
B) Price ceiling
C) Industry
Q25: Rivalry increases when:
A) The number of competitors
Q26: The higher the _ the more likely
Q27: Organized labor would be considered in Porter's
Q29: Strategic groups are:
A) Firms from substitute industries
B)
Q30: In a value chain, the primary activities
Q31: In the value chain the support activities
Q32: Evaluation and control is employed to _:
A)
Q33: The goals and objectives the firm establishes
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