________ competition can destroy entire product categories when a major innovation occurs,so it requires attention,especially for long-run planning.

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Generic competition refers to the competition between products that are substitutes for each other but are not identical, often leading to major innovations that can disrupt or even eliminate entire product categories. This type of competition is broader and can significantly impact long-term planning as it encompasses shifts in consumer preferences or technological advancements that make existing products obsolete.

________ Competition Can Destroy Entire Product Categories When a Major