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Corporate Strategy MCQs

According to Michael Porter's five forces, what is the impact of increased buyer power?

Increased number of new entrants into the market.

Reduced business profitability as buyers exert downward pressure on prices.

Consolidation among established organizations as they look to increase control over prices.

Increased product differentiation as organizations look to other ways to maintain control over prices.

Answer

Correct Answer: Reduced business profitability as buyers exert downward pressure on prices.

Explanation:

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