According to Porter,________ refers to the power that customers have over the firms operating in an industry.
A)the threat of new entrants
B)buyer power
C)supplier power
D)the threat of substitute products
E)intensity of rivalry

Question

Quizplus · Accepted Answer

Buyer power, according to Porter's Five Forces model, refers to the impact that customers have on a market. When buyers have strong bargaining power, they can influence the terms and conditions of transactions, including price, quality, and service, which can affect the competitive environment and profitability of firms within an industry.

According to Porter,________ Refers to the Power That Customers Have