A buyer will have less bargaining power if all of the following factors apply ex

Question

A buyer will have less bargaining power if all of the following factors apply except Select one:

A. buyers have limited information.

B. buyers face few switching costs.

C. the products purchased are highly differentiated and unique.

D. buyers do not have the ability to manufacture the products

. Question 2 Not yet answered Points out of 1.00 Not flaggedFlag question Question text The key is to make the external analysis process as ________ and ________ as possible. Select one:

A. efficient; effective.

B. efficient; competitive.

C. turbulent; stable.

D. All of the answer choices are correct.

Question 3 Not yet answered Points out of 1.00 Not flaggedFlag question Question text In conducting an external analysis, the search for information may yield Select one

: A. a lack of information

. B. too much information.

C. an emphasis on demographic trends.

D. an emphasis on pending legislation.

Question 4 Recent census data showed that for the first time in the history of the United States there were more Americans over age ________ than under. Select one:

A. 25

B. 30

C. 21

D.

19 Question 5 t One of the factors that shapes the definition of exit barriers as factor(s) that keep companies competing in businesses even when those businesses are failing is Select one:

A. economic factors.

B. strategic factors.

C. emotional factors.

D. All of the answer choices are correct.

Question 6 When organizations consider whether there are upcoming price increases in the products purchased by the industry, this issue refers to the ________ of the Porter five forces model. Select one:

A. bargaining power of buyers

B. threat of potential entrants

C. threat of substitute products

D. bargaining power of suppliers

Question 7 The major problem with forecasts and trend analyses is Select one: A. the information is difficult to compile with the latest technology.

B. the information constitutes predictions of the future, not actual facts.

C. the information is built using historical trends.

D. consumers do not benefit from technological trends predicted.

Question 8 As an open system, an organization ________ and ________ its external environment. Select one:

A. reacts to; controls

B. interacts with; responds to

C. interacts with; controls

D. reacts to; responds to

Question 9 ________ refers to cost savings that you get as volume increases. Select one:

A. Switching costs

B. Economic costs

C. Economies of scale

D. All of the answer choices are correct

Question 10 When an organization considers whether it has the ability and resources itself to manufacture the products it is purchasing from the industry, this issue refers to the ________ of the Porter five forces model. Select one:

A. bargaining power of buyers

B. threat of potential entrants

C. threat of substitute products

D. bargaining power of suppliers

Question 11 In an external analysis, the primary role of the middle manager is to Select one:

A. use information in terms of the �big picture.�

B. act as an information gatherer and disseminator.

C. encourage workers to listen to the customer.

D. All of the answer choices are correct.

Question 12 The various studies of organizational environments can be summarized from the following perspective(s): Select one:

A. environment as a source of information.

B. environment as a source of resources.

C. environment as a source of power.

D. environment as a source of information and of resources.

Question 13 Which of the general environmental sectors is affected when minimum wage laws are changed? Select one:

A. Economics

B. Demographics

C. Sociocultural

D. Political/legal

Question 14 Which of the following is not one of the five competitive forces? Select one:

A. Competition forms substitute products

B. The threat of potential entry

C. The strength of industry forces

D. The bargaining power of buyers

Explanation / Answer

The correct answer is option B (buyers face few switching costs).

Bargaining power of customer is the ability to put pressure to the company to minimize the cost of the product as per customer perceived value. It also depends on the number of alternative product present in the market. Companies can reduced the bargaining power of the customer by coming up with promotions, discounts or offering the products at fixed price.

Bargaining power of buyer is low when the switching cost is high, low buyer concentration, very less price sensitive customers, buyers does not have much knowledge and information, customers preferring specialized products, etc.

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