The threat of new competitors occurs when a product or service can be replaced with goods and services from a competing firm or industry.

Name: The threat of new competitors occurs when a product or service can be replaced with goods and services from a competing firm or industry.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The threat of new competitors refers to the potential for new companies to enter the market, increasing competition, not the replacement of products or services by those from existing competitors.

The Threat of New Competitors Occurs When a Product or Service