According to Porter's Five Competitive Forces Model, similar products produced by different firms within the industry affects a firm's ability to raise prices far more than substitutable products produced outside the industry.

Question

Quizplus · Accepted Answer

Substitutable products from outside the industry can limit a firm's ability to raise prices as they provide alternative options for consumers, potentially exerting more pressure than similar products within the industry.

According to Porter's Five Competitive Forces Model, Similar Products Produced