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On the other hand, substitutes try to alter the cross-elasticity of their demand. You can read more about these strategies here. The hope is that some customers are willing to pay extra for these additional qualities. Alter Eco draws customers by offering fair-trade organic chocolate. Godiva, for example, competes against its chocolate-making rivals by marketing its chocolate as luxurious. Rivals also can try and differentiate their products. And Aldi sells quality European chocolates in the U.S. For example, Trader Joe’s sells chocolate ballotins for less than half the price of Godiva’s. To attract customers, rivals can try and lower costs and prices. But they usually compete in different ways. Rivals and substitutes compete for the same pot of money. On the other hand, Substitutes is the most common word used for functionally equivalent cross-category substitutes.
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Rivals is the most unique name for within-category substitutes. Another chocolate substitute is flowers, when chocolate is used as a gift. For example, a substitute for chocolate can be a granola bar, when chocolate is used as food. These substitutes have the same function but can be quite different. ‘ Substitutes’ is a term most commonly used to describe ‘ same-function cross-category substitutes’. For example, different chocolate brands, like Godiva, Lindt or Alter Eco, can be called rival products. These are goods or services that are quite similar. ‘ Rivals’ is the better and least confusing term to use for these ‘ within-category substitute products or services’. In the same manner, rival companies’ products and services could be called ‘ substitutes’. The term is technically accurate and familiar but also has other meanings.
![cockadoodledoo meaning cockadoodledoo meaning](https://i.pinimg.com/originals/f8/c4/b3/f8c4b35034c29a9af2685f1b2d8e8a11.png)
I also learned ‘ cock’, though accurate and familiar, had another meaning! I learned ‘ rooster’ is the more common word for ‘ coq’. A friend laughed very hard then told me to use the word rooster instead. Then one day, I decided to tell a story about cocks roaming around in the city. The English words for ‘coq’ were ‘rooster’ and ‘cock’. So I remembered the more familiar word. When I was learning English I looked up ‘ coq’ in my French to English dictionary.
![cockadoodledoo meaning cockadoodledoo meaning](https://i.ytimg.com/vi/MJLh3PbF_fU/maxresdefault.jpg)
Let me tell you a story before I explain why you should not call rival companies’ products and services ‘substitutes’:
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