In which of the following situations is the bargaining power of suppliers especially strong?

A) Products are highly specialized.
B) Suppliers rely on single customers.
C) Customers have low switching costs.
D) Affordable, substitute products exist.

Highly Specialized

Highly specialized refers to products, services, or roles that are focused on a narrow aspect, requiring specific knowledge or skills and catering to a particular niche or market segment.

Low Switching Costs

Low switching costs refer to the minimal barriers or expenses that consumers face when changing from one product, service, or provider to another, leading to higher competition among companies.

Substitute Products

Goods or services that can serve as replacements for each other, meeting the same needs or desires of the consumers, thereby providing a choice.