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Related Definitions
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.
Powerful Suppliers Suppliers can exert bargaining power on participants in an industry by raising prices or reducing the quality of purchased goods and services. Powerful suppliers, thereby, can squeeze profitability out of an industry unable to recover cost increase in its own prices.
Definition