Question

Ideal Shoes is a new company that offers in-home shoe customization where a customer can digitally scan his or her entire foot and the company will make custom shoes specific for the customer's foot shape and size. This is an example of which of Porter's Five Forces______________________

Answer 1

Answer:

Threat of substitute products or services

Explanation:

Threat of substitute products or services is one of the porter's 5 forces, it talks about a product being available for purchase by consumer as a replacement for a substitute product from another industry.

A product is considered a substitute if it offers the same satisfaction consumers gets from it when compared with another product of the same type but from another industry. As stated by Porter's 5 forces "Threat of substitute" helps to give structure to how competition is in an industry.

When there is the availability of threat of substitute for a product, it tends to affect the income of a particular industry that has a substitute to their product as consumers can decide to go for the substitute.