Bargaining power of buyers
BARGAINING POWER OF BUYERS
In an industry where buyers have more bargaining power than their suppliers, they are able to collectively exert pressure on the industry, and fight for lower prices, higher quality of products, and even fuel competition between the companies in the industry. It also usually diminishes the profits earned by the industry.
- Jeff Short, YouTube (2015, May 14). Bargaining power buyers and sellers
Retrieved from: https://youtu.be/fIpJq_rYgmU (Last accessed 2020, Feb 11)
- Bargaining Power of Buyers: Porter’s Five Forces Analysis. (2020). Retrieved from: https://learn.marsdd.com/article/bargaining-power-of-buyers-porters-five-forces-analysis/ (Last accessed 2020, Feb 11)
- Porter, M. (1998). Competitive Strategy. New York: Free Press, pp. 24-27.