Question

Tim rutherford is thinking about starting a firm in the medical equipment industry. in the industry analysis tim has been? conducting, one thing he has noticed is that the medical equipment industry is characterized by buyer group concentration. this factor concerns tim because it tells him that the profitability of the medical equipment industry is potentially suppressed by the? ________.

Answer 1

The correct answer is: bargaining power of buyers.

Step-by-step explanation:

Buyer concentration is referred to several consumers that get together within the same market. This is usually carried out when the buyers massively claim a certain price for a product which leads to the bargaining power of buyers. That is the influence that consumers have in setting the price for goods or services, normally against producers' interest.

Answer 2

By the bargaining power of buyers. The nearness of effective purchasers lessens the benefit potential in an industry. Purchasers increment rivalry inside an industry by compelling down costs, anticipating enhanced quality or more administrations, and playing contenders against each other.