Answer:
When the products being purchased are standard or undifferentiated, it results in higher bargaining power of consumers.
Step-by-step explanation:
When the products are more standardized and carry the same features then it creates a greater pool of products for the customers to choose from. Similar products are available to buyers from several suppliers. Since these products work as a substitute to each other, they compete on the basis of price, and hence, the product prices fall. It is the high bargaining power of the customer that puts collective pressure on the industry to reduce its margins.