Explain the Reason Why Substitute Products Are Taken as a Threat

question 47

Essay

Explain the reason why substitute products are taken as a threat by firms.

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Definitions:

Holmes Report

An influential resource and publication within the public relations industry known for its in-depth analysis, reports, and rankings of PR agencies.

PR Documentation

refers to the collection of records, evidence, and materials that outline public relations strategies, efforts, and outcomes in promoting a brand or organization.

PR Spending

The amount of money allocated by organizations to public relations activities, aimed at managing and enhancing their public image and communications with various stakeholders.

Writing Clearly

The practice of conveying messages in a straightforward and understandable manner, ensuring that the intended audience easily comprehends the text.