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Related Definitions
Buyers Buyers are the people in an organization,s buying center who make an actual purchase. Buyers have formal authority to select the supplier and arrange terms of purchase.
Powerful Buyers Customers likewise can force down prices,demand higher quality or more service,and play competitors off against each other- all at the expense of industry profits .
A buyer group is powerful if
It is concentrated or purchases in large volumes. Large volumes buyers are particularly potent forces if heavy fixed costs characterize the industry as they do in metal containers, corn refining, and bulk chemicals, for example-which raise the stakes to keep capacity filled.
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