The Threat of Substitute Products Pertains to the Likelihood of a Customer

question 48

True/False

The threat of substitute products pertains to the likelihood of a customer being able to use a completely different product obtained from a company outside the industry.

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Definitions:

STM

Stands for Short-Term Memory, which is the capacity for holding a small amount of information in an active, readily available state for a short period of time.

LTM

Stands for Long-Term Memory, which is the capability of the brain to store, preserve, and recall information over extended periods of time.

Sperling's Experiments

Studies conducted by George Sperling that investigated the capacity and duration of visual sensory memory.

Sensory Registers

Memory systems that temporarily hold incoming sensory information from the environment until it can be processed.