The primary factors that determine whether competitive pressures from substitute products are strong, moderate, or weak include

substitutes have worse performance features and are thus priced lower than competitive products, so buyer loyalty in the market remains low.

good substitutes are readily available, attractively priced substitutes have comparable or better performance features, and buyers have low costs in switching to substitutes.

buyers view the substitutes as attractively priced in relation to their quality, performance, and other relevant attributes, and those substitutes target either a small, focused customer group or the mass market.

buyers' switching costs to obtain substitutes are high and occur regardless of whether or not the substitutes target a small, focused customer group or the mass market.

substitutes are not readily available because the rate of innovation is fast or slow, and buyers have high costs in switching to substitutes as a result.