Principles Of Marketing
17th Edition
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Kotler, Philip, Armstrong, Gary (gary M.)
Chapter1: Marketing: Creating Customer Value And Engagement
Section: Chapter Questions
Problem 1.1DQ
Related questions
Question
Assume that Tesla is in the electric vehicle industry. Which of the following is most likely to pose a substitute goods threat?
Group of answer choices
Limited addition Rolex watch
Audi e-tron (electric)
Mercedes Benz C-Class (non-electric)
All of the options
Expert Solution
Step 1
The similar goods that are available in the marketplace are substitutes. Substitute goods compete with each other and the customers tend to compare such goods and make their purchase decisions accordingly. The companies need to create a differentiation strategy in such cases.
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