The Threat of Substitute Products or Services Refers to the Power

question 6

True/False

The threat of substitute products or services refers to the power of customers to purchase alternatives.

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Definitions:

Late Adulthood

Describes the stage of life typically associated with ages 65 and older, focusing on retirement, life reflection, and dealing with health issues.

Independence

The state of being self-sufficient and not reliant on others for decision-making or support.

Dependence

A state where an individual relies on a substance or behavior for normal functioning or feels unable to quit it.

Similarity

The degree to which two things resemble or match each other.