A substitute product is a similar item or service that can be used in place of another product to fulfill the same need or desire. It is an alternative option that offers comparable features, benefits, and functionality to the original product. Substitute products are often seen as competitors to the original product, as they can be used interchangeably and may impact the demand for the original product. They can also provide consumers with more choices and potentially drive down prices through competition. However, substitute products may not always be identical to the original and may have slight differences in quality, price, or other attributes. Overall, substitute products play a significant role in the market by providing consumers with options and influencing the success of a product.