- 3. Threat of substitutes – the market attempts of companies in other industries to win customers over their own substitute product.
// substitutes matter when customers are attracted to the products of firms in other industries.
// how strong the competitive pressures are from substitute products depends on:
\ whether attractively priced substitutes are available.
\ whether buyers view the substitutes as being satisfactory in terms of quality, features, performance, ease of use, and other relevant attributes.
\ whether buyers can switch to substitutes easily.
// therefore, as a rule then, the lower the price of substitutes: and the lower the customers’ witching cost, the more intense the competitive pressures posed by substitute products.
// good indicators of the competitive strength of substitute products are the rate at which their sales and profits are growing. The market they are making, and their plans for expanding production capacity.
- 3. Threat of substitutes – the market attempts of companies in other industries to win customers over their own substitute product.
// substitutes matter when customers are attracted to the products of firms in other industries.
// how strong the competitive pressures are from substitute products depends on:
\ whether attractively priced substitutes are available.
\ whether buyers view the substitutes as being satisfactory in terms of quality, features, performance, ease of use, and other relevant attributes.
\ whether buyers can switch to substitutes easily.
// therefore, as a rule then, the lower the price of substitutes: and the lower the customers’ witching cost, the more intense the competitive pressures posed by substitute products.
// good indicators of the competitive strength of substitute products are the rate at which their sales and profits are growing. The market they are making, and their plans for expanding production capacity.
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