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:

World Trade Organization

An international organization designed to supervise and liberalize world trade by providing a forum for negotiation and dispute resolution.

Members

In a business context, individuals or entities that are part of an organization, group, or system with certain rights or obligations.

World Trade

The exchange of goods and services across international borders and territories, impacting global economies, standards of living, and the development of nations.

Countries

Distinct territorial bodies or political entities recognized as independent states, characterized by their own government and boundaries.