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Business Data Management, Quiz 2

May 2022 term, 10 Jul 2022, Set QPE1

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Question 1

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Which of these situations is likely to cause high bargaining power of suppliers?

Select one option

A.
Many customers with low brand loyalty
B.
A few large suppliers dominate the market
C.
Many alternative sources of supply
D.
None of these

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Which of these situations is likely to cause high bargaining power of suppliers? What is the main purpose of Porter’s Five Forces Model? In Porter's five forces model, what is meant by the term 'substitute'?