Buyers Are in Position to Exert Strong Bargaining Power in Dealing

question 4

Multiple Choice

Buyers are in position to exert strong bargaining power in dealing with sellers when

• A)their costs to switch to competing brands or to substitute products are relatively high.
• B)a particular seller's product delivers quality or performance that is very important to the buyer and is not matched by other brands.
• C)they buy the product infrequently or in small quantities and are not particularly well-informed about sellers' products, prices, and costs.
• D)buyer demand is growing rapidly.
• E)buyers are price sensitive because the product represents a significant portion of their purchasing budget.

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Definitions:

Diversity Jurisdiction

A form of jurisdiction in federal courts when parties are from different states, and the amount in dispute exceeds a specified value.

Principle Place of Business

The primary location where a company's business is performed or managed, often considered in legal jurisdictional issues.

Mediation

A form of alternative dispute resolution where a neutral third party helps disputing parties find a mutually agreeable solution.

Preserve Relationships

An approach or strategy aimed at maintaining positive and sustainable relationships within personal or professional settings.