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Bargaining Power of BuyersBargaining Power of BuyersThe ability of the buyer to negotiate the terms of sale significantly affects pricing and profits. As the customer becomes more powerful, downward pressure is exerted on pricing and profitability. Customer service begins to improve as industry participants find different ways to compete. Improved service has been observed in the banking industry as deregulation and overcapacity has pushed banks to compress product delivery times. Banks have dropped loan approval time from one week to one day on many types of commercial loans. 398
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