In the context of Porter's Five Forces Model, which of the following is a difference between buyer power and supplier power?
A) Buyer power is low when customers have many choices, whereas supplier power is low when customers have fewer options.
B) Buyer power is high when customers have few choices, whereas supplier power is high when customers have more options.
C) Buyer power is low when customers have many options, whereas supplier power is low when customers have more choices.
D) Buyer power is high when customers have many choices, whereas supplier power is high when customers have fewer options.

Question

Quizplus · Accepted Answer

Buyer power is high when customers have many choices because they can easily switch to another supplier, while supplier power is high when customers have fewer options because the supplier can exert more control over prices and terms.

In the Context of Porter's Five Forces Model, Which of the Following