In Michael Porter's model, "buyers" refers to manufacturers (e.g., GM) and retailers (e.g. Wal-Mart), rather than consumers. Strategic Elements of Competitive Advantage In Michael Porter's model, "buyers" refers to manufacturers (e.g., GM) and retailers (e.g. Wal-Mart), rather than consumers. Answer: TRUE Learn More : Share this Share on FacebookTweet on TwitterPlus on Google+