The introduction of Uber and Lyft as alternatives to traditional taxi services is an example of which of Porter's five competitive forces?
A) Potential new entrants
B) Bargaining power of suppliers
C) Threat of substitute products
D) Bargaining power of customers
E) Rivalry among competitors

Question

Quizplus · Accepted Answer

The introduction of Uber and Lyft provides a substitute product for traditional taxi services, which increases the threat of substitute products within Porter's five competitive forces.

The Introduction of Uber and Lyft as Alternatives to Traditional