Today, we are talking about the #5forces framework by #porter. One of the forces that shape the market and should influence your success is the #threatofsubstitutes. #substitutes are the #products (or #services) that are different in nature but may offer you a similar result. Think of butter vs margarine - different in nature (made of milk vs sunflower oil) but both may be used for breakfast. Moreover, the conditions of usage have an impact on the #propensitytosubsitute: while margarine for breakfast is seldom preferred, margarine for backing easily substitutes butter and only a few can taste the difference.
Enjoy this #episode, #subscribe, #comment, and #share - it does matter!
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