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This industry focuses on continually developing cutting edge products using the latest science and technology. Rivalry is stronger when customer's costs to switch brands are low. Switching costs in the personal care industry are very low, due to the large amount of different brands of similar products. This cost is due to the higher number of competitors in the personal care industry and their tendency to copy new products in order to stay competitive.
While there is strong competition in the beauty products industry, there is a weak threat of new entrants and an even lesser threat of substitute products...
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