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In an Oil and petrol sector, Batteries (battery powered cars) are substitutes.
But in company’s point of view Isn’t it rivalry?There is a bit of a fine line between rivals and substitutes. Rivals are more of the same; substitutes achieve what’s needed by a different approach and usually a different technology. Successful substitutes will eventually dominate the market.
Substitutes are there to encourage companies to think widely rather than look at their immediate current rivals.
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