Identify the INCORRECT statement regarding product form competition.
A) It is a narrow view of competition
B) It only considers products that "look" the same as the product or service in question
C) It provides the best perspective for a longer-run view of competition
D) It is a convenient definition of competition
E) It provides the set of the closest competitors in a product feature sense

Question

Quizplus · Accepted Answer

Product form competition, which focuses on products that appear similar or serve similar functions, offers a narrow perspective suitable for short-term analysis rather than a comprehensive, longer-run view of competition. This is because it doesn't account for broader market dynamics or potential substitutes that might not "look" the same.

Identify the INCORRECT Statement Regarding Product Form Competition