00:01
What are the substitutes, compliments, and major competitors of coca -cola and exxonmobil and explain why? so let's look first at what are substitutes, complement, and competitors.
00:15
So let's start with substitutes.
00:25
So substitute goods are where you can consume one in place of another.
00:41
Complementary goods are goods that are consumed together.
00:54
And competitors are those that are selling similar goods because customers are, likely to choose one over the other.
01:13
So they're competing with one another.
01:15
So we're going to look at coca -cola and exxonmobil.
01:20
And let's start with substitute goods.
01:32
So for coca -cola, a substitute good could be pepsi.
01:39
For some people, for some people, coke and pepsi are interchangeable.
01:42
It is a substitute good because it is another soda.
01:45
A substitute good for exxonmobil.
01:48
Exxon -mobile is a, it's gas.
01:50
I might choose to go to chevron.
01:52
I might choose to go to bp...