What is one factor influencing buyer bargaining power?

The correct choice highlights that when buyers are well-informed about a product, their bargaining power significantly increases. Knowledgeable buyers can effectively evaluate their options, compare prices, and understand the features and benefits of competing offerings. This information allows them to negotiate better terms and challenge suppliers on pricing, quality, and service, making it harder for suppliers to maintain higher prices or unfavorable terms.

Buyers who possess this level of information can also identify substitutes and understand market trends, which further strengthens their position in negotiations. They are less likely to accept a high price if they are aware of competitive alternatives, which compels suppliers to provide better value or risk losing sales. Therefore, the ability of buyers to make informed decisions directly impacts their leverage in negotiations and the overall dynamics of the marketplace.