Readmore Publishing House, the publisher of a regional daily, has been slowly losing profits as its readers prefer to get news through the television. A recent study on the readers who made the switch stated that it is more accessible and faster to attain up-to-date news through the television rather than to wait for the next day for an update on current events. Which of the following is Readmore Publishing House is facing?
A)Producer power
B)Network effect
C)Substitute
D)New entrant

Question

Quizplus · Accepted Answer

Readmore Publishing House is facing a substitute, as their readers have found a faster and more accessible way to attain news through television.

Readmore Publishing House, the Publisher of a Regional Daily, Has