The Typical Process for Developing a Weighted Point Evaluation System

question 24

True/False

The typical process for developing a weighted point evaluation system is to: (1)meet with the supplier to identify the factors or criteria for evaluation, (2)ask the supplier to determine the importance of each factor,and (3)negotiate a system for rating the supplier on each factor.

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Definitions:

Positioning

Form of promotion in which marketers attempt to establish the identity and value of their products in the minds of customers by communicating to buyers meaningful distinctions about the attributes, price, quality, or use of a good or service.

Promotion

Function of informing, persuading, and influencing a purchase decision.

Identity

The distinctive characteristics or personality of an individual, organization, or brand, which sets it apart from others.

Product Placement

Form of promotion in which marketers pay fees to have their products showcased in various media, ranging from newspapers and magazines to original online television and movies.