How does the Internet increase the bargaining power of buyers? Identify two Information Systems strategies that...
How does the Internet increase the bargaining power of buyers? Identify two Information Systems strategies that can be used to combat this competitive force.
Homework Answers
Internet has increased the bargaining power of the buyers because buyers now have plenty of buying options and plenty of price options to choose from. It is important to mention that buyers not have more e-commerce sites and online websites to check prices of their desired products and choose accordingly.
The two information system strategy that can be used include monitoring the prices of commodities in rival companies, and having effective data presentation and analysis.
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