Which of the Following Represents Buyer Power in Porter's Five

question 33

Multiple Choice

Which of the following represents buyer power in Porter's Five Forces Model?

• A) Low when buyers have many choices of whom to buy from and high when their choices are few
• B) High when buyers have many choices of whom to buy from and low when their choices are few
• C) Low when buyers have many customers of whom to buy from and low when their customers are few
• D) High when buyers have many customers of whom to buy from and low when their customers are few

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Definitions:

Production Team

A group of individuals who work together in the manufacturing or creation process of goods or services.

Perishable

Refers to goods that have a limited lifespan or durability and therefore need to be consumed or used within a certain period before they deteriorate.

Common Standard

A uniform criterion or benchmark that can be widely used across different systems, organizations, or industries to ensure compatibility and efficiency.

Management Duties

Encompasses a range of responsibilities held by managers, including planning, organizing, leading, and controlling resources to achieve organizational objectives.