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Case Study Vice Grip

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In Vice Grip situation, customers have a strong position they can bring considerable pressure to the market.
One factor that determine buyer bargaining power is the variety of sellers. If buyers are concentrated compared to sellers – if there are few buyers and many sellers – buyer power is high. Since our product is new to the world products, there will be a limit in among of sellers. Buyers don't have much power on choosing where to buy our product. This is a key marketing.
Switching costs – the cost of switching from buying a new shovel to buy Vice Grip is an important factor to the success of our product. The switching cost that apply to the situation when a customer buys Vice Grip instead of buying a new tool is negative. Basically, our

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