The threat of substitute products or services refers to the power of customers to purchase alternatives.

Name: The threat of substitute products or services refers to the power of customers to purchase alternatives.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The threat of substitute products or services is one of Porter's Five Forces, indicating the likelihood that customers might switch to alternatives that fulfill the same need, thus affecting the industry's competitive environment.

The Threat of Substitute Products or Services Refers to the Power