Sovi.AI - AI Math Tutor

Scan to solve math questions

QUESTION IMAGE

substitute products can steal customers. influential suppliers can driv…

Question

substitute products can steal customers.
influential suppliers can drive down profits by charging higher
competition can steal customers.
knowledgeable employees can force down prices by pitting riv
competition will give you customers.
new market entrants can steal potential investment capital.

Explanation:

Brief Explanations
  • Substitute products: By offering alternatives, they can take customers away.
  • Influential suppliers: Higher prices reduce profits.
  • Competition: Directly competes for customers.
  • New market entrants: Attract investment capital that could have gone to existing firms.
  • Competition will give you customers: This is incorrect as competition typically takes customers rather than gives.
  • Knowledgeable employees pitting rivals: This is not a standard force in basic competitive analysis (like Porter's 5 Forces which these seem related to).

Answer:

  • Substitute products can steal customers.
  • Influential suppliers can drive down profits by charging higher prices.
  • Competition can steal customers.
  • New market entrants can steal potential investment capital.