New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    The power of buyers will increase

    when:
    A the number of buyers is high. Correct Answer Incorrect Answer
    B the number of buyers is low. Correct Answer Incorrect Answer
    C there are high switching costs. Correct Answer Incorrect Answer
    D the product represents a small share of the buyer's total cost. Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    Buyers are particularly powerful when they are few in number, there are low switching costs, or the product represents significant share of the buyer's total costs.

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