Products or services that may be sought as alternative solutions-such as purchasing tax planning software rather than paying a CPA to assist with preparing your taxes-are referred to as:
A) buyers products.
B) rivalry products.
C) substitute products.
D) competitive alternatives.

Question

Quizplus · Accepted Answer

Products or services that may be sought as alternative solutions are referred to as substitute products. Substitutes can be a threat to a company's profitability because customers may choose to switch to the substitute product/service if it provides the same benefits at a lower cost or with more convenience. In the given example, tax planning software is a substitute for a CPA to assist with preparing taxes, as it provides similar benefits but at a lower cost.

Products or Services That May Be Sought as Alternative Solutions-Such