Write short notes on Bargaining power of suppliers and buyers.
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Bargaining power of suppliers:
five forces, supplier power refers to the pressuresuppliers can exert on businesses by raising prices, lowering quality, or reducing availability of their products. ... Furthermore, a strong supplier can make an industry more competitive and decrease profit potential for the buyer.
Buyer bargaining power
Five Forces of buyer bargaining power refers to the pressure consumers can exert on businesses to get them to provide higher quality products, better customer service, and lower prices. ... A strong buyer can make an industry more competitive and decrease profit potential for the seller.
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