According to Porter's Five Forces Model,established Companies Face Stronger Threats

question 50

Multiple Choice

According to Porter's five forces model,established companies face stronger threats from substitutes if the substitute's ________.

• A) price is lower
• B) benefits are different
• C) switching cost is higher
• D) functions are different

Appreciate the importance of cognitive psychology in understanding mental processes and aiding technological advancements.

Understand the interdisciplinary nature of the Human Genome Project and the roles of different types of psychologists.

Grasp key figures and theories in the field of cognitive psychology, especially related to language and perception.

Recognize the theoretical perspectives most associated with animal studies and emotion research.

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Definitions:

Normative

Pertaining to norms or standards, often involving rules or guidelines that dictate correct or expected behavior within a society or group.

Informational

In marketing, this term often relates to messages or media that provide consumers with factual data and details about a product's benefits, features, or usage.

Bandwagon Effect

The tendency for people to adopt certain behaviors, styles, or attitudes simply because others are doing so, often used in marketing to drive product popularity.

Cultural Pressure

The influence exerted by society on individuals to adopt certain behaviors, norms, or practices, often to conform to societal standards.