Bargaining power refers to the relative ability of parties in a negotiation to influence the terms and outcomes of that negotiation. It is the strength or leverage that one party has over another when it comes to negotiating agreements or contracts. Bargaining power can derive from various factors, including: 1. **Resource Control**: Having control over resources that the other party needs can enhance bargaining power. For instance, a supplier that provides a unique or essential product may have more leverage in negotiations with customers.
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