Analyse the industry explaining the role of the "buyer power" in the industry.

The assignment basically is talking about the” buyer power” which is one of the forces of porter’s 5 forces model. I want you to write a page and a half or two pages on the “buyer power” in the industry of a company called “Big Lots” . so your analysing the industry exaplaining the role of the “buyer power” in the industry. If your not familiar with porter’s 5 forces model then tell me. and please no overview or long introduction.

YOU SHOULD CONSIDER THESE WHEN WRITING

Buyer power Can be stronger if…

•Buyer switching costs to competing brands or

substitutes are low

•Buyers are large and can demand concessions

•Large-volume purchases by buyers are important to sellers

•Buyer demand is weak or declining

•Only a few buyers exists

•Identity of buyer adds prestige

to seller’s list of customers

•Quantity and quality of information

available to buyers improves

•Buyers have ability to postpone purchases until later

•Buyers threaten to integrate backward

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