According to Michael Porter, there are five determinants of competition. An example of _____ is when a buyer purchases a large fraction of an industry's output and can demand price concessions.

A) threat of entry
B) rivalry between existing competitors
C) pressure from substitute products
D) bargaining power of buyers
E) bargaining power of suppliers

Bargaining Power

The capacity of one party to influence the terms and conditions of an agreement in its favor during negotiations with another party.

Price Concessions

Adjustments made to the original price of a good or service in response to negotiating tactics or market demands.

Buyer

An individual or entity that acquires goods or services in exchange for money or other forms of payment.