The First Step of the Business Buying Process Is ________

question 14

Multiple Choice

The first step of the business buying process is ________.

• A)general need description
• B)supplier search
• C)proposal solicitation
• D)problem recognition
• E)order-routine specification

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Definitions:

Trading Up

A strategy where a business encourages customers to purchase higher-priced items, upgrades, or add-ons.

Trading Down

Opting for cheaper or lower-quality products or services, often as a result of economic constraints or budget considerations.

Repositioning

The strategy of changing the marketing mix for a product or brand to target new markets or change the product's image.

Product Life Cycle Shapes

The visual representation of the stages a product goes through from its introduction to the market until its decline, typically shown as a graph.