Bargaining power of suppliers
BARGAINING POWER OF SUPPLIERS
In an industry where powerful suppliers are crucial to a market, suppliers can increase the competition of an industry by increasing the prices of their products or lower the quality of their products. This may raise the cost of companies in the industry to acquire their products, leading to a decreased profit.
Read more:
- Jeff Short, YouTube (2015, May 14). Bargaining power buyers and sellers
Retrieved from: https://youtu.be/fIpJq_rYgmU (Last accessed 2020, Feb 11) - Bargaining Power of Suppliers: Porter’s Five Forces Analysis. (2020). Retrieved from: https://learn.marsdd.com/article/bargaining-power-of-suppliers-porters-five-forces/ (Last accessed 2020, Mar 4)
- Porter, M. (1998). Competitive Strategy. New York: Free Press, pp. 27-29.