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Buyer Power
The influence that customers have on the pricing and terms of purchase.
Implications
The influence and leverage that buyers have over sellers, often determined by factors such as availability of alternatives, volume of purchases, and information symmetry.
Example
Example: Large retailers like Walmart exert significant buyer power over suppliers, often negotiating lower prices due to their large purchase volumes.
Related Terms
Different from supplier power, which focuses on the influence of suppliers over buyers, buyer power examines how buyers can shape market conditions and pricing.
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