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:

Dress Code

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House of Commons

The lower house of the Parliament of the United Kingdom, comprising Members of Parliament who are elected to represent constituencies.

Senate

A legislative or governing body in various countries, often part of a bicameral system, tasked with making and passing laws.

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The condition where more than half of the available positions or seats within a particular assembly, such as a parliament or council, are held or occupied by members of a specific party or group.