Essay: Power of Buyers of Toyota
This factor can be measured by the number of buyers present in the market. In the case of the automobile industry, there are now a significant number of manufacturers in the market as well as the expansion of the market in China which is increasing the number of consumers and buyers for automobile supplies.
Other factors that affect this variable but are relatively little used with regards to this industry are the purchase volumes, prevalence of alternative options to the buyers and the price sensitivity of the customers. In the case of the crucial US automobile market, the consumers were observed to shift to foreign auto car makers as they sources their supplies from alternative sources which although did hamper reliability to some extent.
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