For a Specific Product or Service, the Existence of Close

question 35

True/False

For a specific product or service, the existence of close substitutes means that customers could switch to these substitutes if prices, service levels or other factors make it in their interests to do so.

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Definitions:

Kohlberg

Refers to Lawrence Kohlberg, an American psychologist best known for his theory of stages of moral development.

High Emotional Intelligence

The ability to recognize, understand, and manage our own emotions as well as to recognize, understand, and influence the emotions of others.

Sensitivity

The quality of being easily affected by external stimuli or the feelings of others, or the ability to perceive and respond to subtle changes or details.

Self-awareness

The conscious understanding of one's own character, feelings, motives, and desires.