6.3 Buyers


Buyers of products/services want the prices to be as low as possible.
In general, if a company is the only provider of product/service the price is higher.
If there are many companies providing the same product/service the price will be lower.
The use of IS may result in a stronger bargaining power for customers as purchasing mediums are going global.
This means that more products and services are accessible to the customer at cheaper prices.
The power of customers lies in their ability to switch easily to a competitor’s products and services.
The other power of customers may lie in their ability to drive businesses and their competitors to compete on price alone.