Select all that apply

The Alta Velocidad Espanola high$-$speed trains allow passengers to travel in comfort and reach their destinations in less time than it would take to fly to the location. As a result, many people choose to take the train when traveling. Which of the following points are illustrated by this example?

Non$-$price competition has far less influence than price$-$related strategies.

Buyer power is sufficiently strong to impact industry profitability.

Firms must look beyond their immediate industry for competitors.

A higher value proposition can make a substitute more appealing.