The extent to which buyers succeed in their bargaining efforts depends on switching costs that reduce the buyer's bargaining power.

Question

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Switching costs refer to the costs a buyer incurs when switching from one supplier to another. If the switching costs are high, the buyer's bargaining power is reduced as they may be less willing to switch to a new supplier. This reduces their ability to negotiate better terms with their current supplier. Therefore, the extent to which buyers succeed in their bargaining efforts depends on switching costs.

The Extent to Which Buyers Succeed in Their Bargaining Efforts