Suppliers Are Powerful When They Control Such Factors as Prices

question 4

Multiple Choice

Suppliers are powerful when they control such factors as prices, delivery lead times, and ________.

• A) switching costs
• B) minimum orders
• C) exit barriers
• D) label offerings

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Definitions:

Product Pricing

The strategy of setting the appropriate cost for a product based on production costs, competition, target audience affordability, and market conditions.

Retain Customer

Strategies and activities aimed at keeping a company's existing customers engaged and satisfied with its products or services, thereby increasing loyalty and reducing churn.

Business Plan

A description of the direction for a new business and the financing needed to operate it.

Comprehensive

Inclusive, covering a wide scope or containing a great deal of information.