Explain the market force of "pressure from substitute products," as detailed by Porter's Five Forces model,
with an example.
What will be an ideal response?
Industry profits can decrease if new products or services delivering the same function are introduced to the
industry, especially if they cost less than existing offerings. For example, the sugar industry saw a drop in sales with
the introduction of high fructose corn syrup as a substitute sweetener. Incumbent companies can reduce the
pressure by showing how their product or service is superior to those of substitutes. For example, fans of natural
foods perceived high fructose corn syrup so negatively that the Corn Refiners Association petitioned the U.S. Food
and Drug Administration to change the name to ""corn sugar"" to reduce the negative connotation.
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The U in the acronym for the OUCH test stands for what?
A. understanding: the knowledge and ability to judge a particular situation or subject B. uniform in application: applied the same way to all persons involved C. underhanded: done in a secret and dishonest way; intended to deceive or trick someone D. ulterior: kept hidden until achievement of a specific result
Speeches about objects lend themselves to all of the following EXCEPT
a. topical formats. b. spatial formats. c. cause and effect formats. d. chronological formats.
Callable bonds are redeemable by the issuing corporation within the period of time and at the price stated in the bond indenture
Indicate whether the statement is true or false
An acculturated person
a. has become part of the melting pot. b. has become socioculturally assimilated. c. understands his or her own culture. d. accepts another culture's ideas.