Bargaining power of buyers

Bargaining power of buyers,

Definition of Bargaining power of buyers:

  1. An advantage to consumers that comes from gathering together to put collective pressure on producers to lower prices or improve quality. The bargaining power of buyers typically has the strongest effect on pricing when buyers are organized and they collectively account for much of the producers income, they are interested in a product that has an excess of suppliers, and they are interested in making substantial purchases.

Meaning of Bargaining power of buyers & Bargaining power of buyers Definition