Substitute Products

question 62

Multiple Choice

Substitute products

• A)reduce the attractiveness and profitability of an industry.
• B)represent those items manufactured by direct rivals within an industry.
• C)are usually cheaper than the products they can replace.
• D)are always a serious threat to rivals in an industry.

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Definitions:

Customer Relationship

The ongoing process of engaging with and managing interactions with customers to enhance satisfaction, loyalty, and retention.

Customer Experiences

The perceptions and responses of customers resulting from the use or anticipated use of a company's products or services.

Repeat-Purchase Intention

Repeat-Purchase Intention is the likelihood that a customer will buy a product or service again, often influenced by satisfaction, brand loyalty, and product quality.

Customer Satisfaction

A measure of how products or services meet or surpass the customer's expectations, often used as a key performance indicator within business.