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Keisha failed in her Math paper this semester in college.However,she vows to perform better in the next semester.According to Richard Lazarus,Keisha has assessed this situation through:
Substitute Products
Goods or services that can be used in place of each other, offering consumers alternatives in their purchasing choices.
Degree of Rivalry
The extent of competition between firms in the same industry, influencing market dynamics and profitability.
Threat of Substitute Products
The potential risk that consumers might replace a company's product with similar goods or services from another provider.
Degree of External Competition
The extent of competition that a business faces from other companies within the same industry or market.
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