The Competitive Pressures from Substitute Products Tend to Be Stronger

question 77

Multiple Choice

The competitive pressures from substitute products tend to be stronger when

• A)buyers are relatively comfortable with the quality and performance of substitutes,and the costs to buyers of switching over to the substitutes are low.
• B)there are more than 10 sellers of substitute products.
• C)substitutes exhibit the latest in technological innovation.
• D)buyers have high psychic costs in severing existing brand relationships and establishing new ones.
• E)demand for the industry's product is not very price sensitive.

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Definitions:

Virginia Colonists

Early European settlers in the Colony of Virginia, who established Jamestown in 1607 as the first permanent English settlement in what would become the United States.

Large Land Grants

Significant parcels of land awarded by governments or monarchs to individuals, institutions, or companies, often to promote settlement, agriculture, or development.

Carolina

Originally a British colony in North America, divided into North Carolina and South Carolina in 1712.

Barbadians

People from Barbados, an island country in the Caribbean region, known for its rich history, culture, and significant contribution to the transatlantic slave trade.