Naomi is a market researcher for her company, which designs and manufactures carpets and rugs. She travels globally to conferences and trade shows to track current trends in her industry. During one trip, Naomi learns about a new dye technique that results in more resilient color at a lower cost. She brings the relevant information back to her team and other experts in her company to discuss the feasibility of implementing this technique in their products. Which competitive force has Naomi capitalized on to benefit her company's manufacturing processes?
a. Threat of substitute products or services
b. Buyer power
c. Supplier power
d. Rivalry among existing competitors

Question

15-09-2021
Business

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Naomi is a market researcher for her company, which designs and manufactures carpets and rugs. She travels globally to conferences and trade shows to track current trends in her industry. During one trip, Naomi learns about a new dye technique that results in more resilient color at a lower cost. She brings the relevant information back to her team and other experts in her company to discuss the feasibility of implementing this technique in their products. Which competitive force has Naomi capitalized on to benefit her company's manufacturing processes?
a. Threat of substitute products or services
b. Buyer power
c. Supplier power
d. Rivalry among existing competitors

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anthougo anthougo · Answer 1 · 2021-09-17T13:55:52+02:00

The competitive force that Naomi, the globe-trotting market researcher, has capitalized on to improve her company's manufacturing processes is a. Threat of substitute products or services.

With the new dye technique that Naomi learns about during a global trip, her company can lower the costs of its products in addition to using more resilient colors.

If Naomi had not learned of this dye technique, another company could have picked it up first to capitalize on its benefits to offer lower priced and higher-quality carpets and rugs to customers, thereby, grabbing the market from Naomi's company.

Thus, substitute products that offer improved customer benefits at reduced competitive prices are always preferred and can always threaten industry competition.

Learn more about the threat of substitute products or services at https://brainly.com/question/18649427