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________ are considered to be universal and biologically based.
Porter's Five Forces Model
A framework for analyzing a business's competitive environment, focusing on five key forces that influence its ability to serve customers and turn a profit.
Substitute Products
Products that serve as alternatives to one another in the market, satisfying similar needs or wants of consumers.
Immediate Rivals
Competitors that directly impact a business’s operations or market position, often operating in the same industry and targeting similar customer bases.
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