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Don't just cut the tail - how substitutable are your products?

Don't just cut the tail - how substitutable are your products?

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A customer looking for Diet Coke
finds that it is out of stock in the
vending machine and settles for a
Coke Zero instead. This is the idea
of Substitutability. It means that for
certain products or services, some
customers may happily switch to a
similar product or service that they
deem a substitute. The degree of
Substitutability varies greatly by
product, service, customer segment,
sales technique, sales channel,
pricing, promotion, or competition.
In this case, Substitutability refers
to the products or services offered
by the same company, not by a
competitor. It is the opposite of
cannibalization, whereby companies
introduce more and more products
which in effect “steal” sales from
existing products or services.
A customer looking for Diet Coke
finds that it is out of stock in the
vending machine and settles for a
Coke Zero instead. This is the idea
of Substitutability. It means that for
certain products or services, some
customers may happily switch to a
similar product or service that they
deem a substitute. The degree of
Substitutability varies greatly by
product, service, customer segment,
sales technique, sales channel,
pricing, promotion, or competition.
In this case, Substitutability refers
to the products or services offered
by the same company, not by a
competitor. It is the opposite of
cannibalization, whereby companies
introduce more and more products
which in effect “steal” sales from
existing products or services.

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Categories:Types, Business/Law
Published by: Wilson Perumal & Company on Aug 08, 2013
Copyright:Attribution Non-commercial

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09/22/2013

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