way to identify competitors is to group competitors according to the degree they compete for a buyer's choice.

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This is true. Competitors can be grouped based on the extent to which they compete for a buyer's choice. Some may offer similar products at similar prices, while others may offer substitute products or compete solely on price. Understanding these different levels of competition can help a business better position itself in the market.

Way to Identify Competitors Is to Group Competitors According to the Degree