L4M2 Exam Dumps | Which of the following factors might prompt an organisation to procure an alternative product? Select

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Question 79/92

Which of the following factors might prompt an organisation to procure an alternative product? Select THREE that apply:

A. Brand loyalty

B. Relative value to money between options

C. Buying organisation's propensities to change

D. Easy access to distribution channel

E. Threat of retaliation

F. Switching cost

Correct Answer: B,C,F

According to Michael Porter, the threat of substitution, is a function of three factors:
* The relative value/ price of a substitute compared to an industry's product
* The cost of switching to the substitute
* The buyer's propensity to switch
(Porter, Michael E.. Competitive Advantage: Creating and Sustaining Superior Performance (p. 278). Free Press. Kindle Edition.)

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