How Can a Company Reduce the Threat of Substitute Products

question 13

Multiple Choice

How can a company reduce the threat of substitute products or services?

• A)Market the product to less than ten customers.
• B)Ignore competitive forces.
• C)By increasing switching costs.
• D)Offer less value making the product far more generic and similar to the competition.

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Definitions:

Bipolar Cells

Types of neurons in the retina of the eye that play a crucial role in visual processing by transmitting information from photoreceptors to ganglion cells.

Rods and Cones

Photoreceptor cells in the retina of the eye responsible for vision; rods detect light intensity and are crucial for night vision, while cones are responsible for color vision and visual acuity.

Feature Detectors

Neurons in the brain that identify specific features of a stimulus, such as edges, lines, or movements, enabling the recognition of patterns and objects.

Visual Processing

The interpretation of visual information by the brain from input received through the eyes, involved in recognizing, analyzing, and making sense of visual stimuli.