Substitutes Are Considered to Be Products

question 38

Multiple Choice

Substitutes are considered to be products

• A) from inside the industry that meet the same need
• B) are the product and service offerings of competitors
• C) from outside the industry that meet the same need
• D) that are better than the product and service offerings of competitors

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Definitions:

Trait

A characteristic or quality of an organism, which can be physical or behavioral, genetically determined or acquired.

Guilt

A cognitive or emotional experience that occurs when a person believes or realizes—accurately or not—that they have compromised their own standards of conduct or have violated a moral standard and bear significant responsibility for that violation.

Egocentricity

The inability to differentiate between one's own perspective and someone else's perspective, commonly seen in early childhood development.

Self-Esteem Fallacy

The self-esteem fallacy refers to misconceptions that high self-esteem is the primary cause of many positive outcomes or that boosting self-esteem will necessarily lead to better performance and fewer problems.