Generally, an industry is more attractive when quality substitute products are not readily available, the prices of substitute products are higher, and buyers' costs of switching products is high.

Question

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If there are no quality substitute products available, customers have no option but to purchase from the industry, giving them an advantage over any substitute products. Additionally, even if substitute products are available, if they are priced higher or buyers face high costs of switching, they may still choose to stick with the industry's products.

Generally, an Industry Is More Attractive When Quality Substitute Products