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The oil industry has a limited number of refineries to process petroleum in the country of Colombia. As a result, gasoline stations in Colombia are limited in who they can buy from. This industry, in terms
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The oil industry has a limited number of refineries to process petroleum in the country of Colombia. As a result, gasoline stations in Colombia are limited in who they can buy from. This industry, in terms of Porter's Five Forces is said to have high ____.

User Dashesy
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Answer:

Bargaining power of the buyer.

Step-by-step explanation:

  • The bargaining power the buyers is one of the five forces of the power model and is an analytical framework that refers to the pressure when the buyers are limited and strong
  • And this relationship is shown as monopsony and there are many suppliers an one or few buyers and thus the buyers set the roes and impacts the customers and the industry.
User Gilgamash
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