The process which involves comparing alternative suppliers for buying raw materials needed in production is classified as?
Correct answer: C. business buying process
- A. business buyer behavior
- B. derived demand
- C. business buying process
- D. cognitive dissonance
Explanation
Business buying is a formal process that includes identifying needs, finding suppliers, comparing proposals, and selecting the best source. Derived demand describes why business demand exists, not the supplier-comparison process itself.
Report an error
The more specific you are, the faster it gets fixed. A source beats an opinion.
Prefer email? support@testustad.com
About Marketing
Marketing covers how organisations identify customer needs, create value and exchange products or services through suitable markets. Key concepts include market segmentation, targeting, positioning, consumer behaviour, the marketing mix of product, price, place and promotion, branding, product life cycle and differences between marketing and selling.
Practise Marketing
1,700 free Marketing MCQs from Management Sciences, each with the correct answer and an explanation. Unlimited attempts, no account needed.
Exams that ask Management Sciences questions like this
Management Sciences is on 2 papers prepared for on TestUstad, and all of them draw the same bank, so this question is worth knowing for every one of them.
More Marketing questions
The way of selling in which groups of people are involved from various departments such as finance, engineering and marketing to serve large accounts is called?
The growth share matrix divides SBU's in
The pricing strategy in which the price set must cover the product cost plus target profit is classified as?
In consumer promotions, the certificates given to product buyers which confirms savings when they buy particular items are called?
The stage in which the business buyer invites supplier to submit proposals is classified as?
The business buying situation in which the order is placed for first time is?