### Analyzing the Statement

1. **Understanding Competitive Pressures:** The existence of substitute products introduces significant competitive pressures within a market. When substitutes are readily available, consumers can easily switch to these alternatives if they find them more appealing in terms of price, quality, or features.

2. **Effects of Readily Available Substitutes:** When substitutes are easily accessible, the threat posed by those substitutes increases. This means that businesses must be more innovative and responsive to changing consumer preferences to retain their market share.

3. **Conclusion:** Given these points, the statement suggests a correlation between the availability of substitutes and the level of competitive pressure faced by established products in the market.

### Final Answer
**True** - The competitive pressures from substitute products tend to be stronger when good substitutes are readily available.

Question

### Analyzing the Statement

1. **Understanding Competitive Pressures:** The existence of substitute products introduces significant competitive pressures within a market. When substitutes are readily available, consumers can easily switch to these alternatives if they find them more appealing in terms of price, quality, or features.

2. **Effects of Readily Available Substitutes:** When substitutes are easily accessible, the threat posed by those substitutes increases. This means that businesses must be more innovative and responsive to changing consumer preferences to retain their market share.

3. **Conclusion:** Given these points, the statement suggests a correlation between the availability of substitutes and the level of competitive pressure faced by established products in the market.

### Final Answer
**True** - The competitive pressures from substitute products tend to be stronger when good substitutes are readily available.

Knowee AI · Accepted Answer

### Analyzing the Statement

1. **Understanding Competitive Pressures:** The existence of substitute products introduces significant competitive pressures within a market. When substitutes are readily available, consumers can easily switch to these alternatives if they find them more appealing in terms of price, quality, or features.

2. **Effects of Readily Available Substitutes:** When substitutes are easily accessible, the threat posed by those substitutes increases. This means that businesses must be more innovative and responsive to changing consumer preferences to retain their market share.

3. **Conclusion:** Given these points, the statement suggests a correlation between the availability of substitutes and the level of competitive pressure faced by established products in the market.

### Final Answer
**True** - The competitive pressures from substitute products tend to be stronger when good substitutes are readily available.

The competitive pressures from substitute products tend to be stronger when good substitutes are readily available. Question 1AnswerTrueFalse

Question

The competitive pressures from substitute products tend to be stronger when good substitutes are readily available.

Solution

Analyzing the Statement

Final Answer

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