Suppliers are powerful when no satisfactory substitutes are available, the selling industry is relatively more concentrated than the purchasing industry, and switching costs are high.

Question

Quizplus · Accepted Answer

This statement summarizes the three factors that make suppliers powerful, which are: the absence of acceptable alternatives, the higher concentration of the seller industry, and high switching costs for buyers.

Suppliers Are Powerful When No Satisfactory Substitutes Are Available, the Selling