Those Buying Decisions That Involve a Narrow Set of Choice

question 61

Multiple Choice

Those buying decisions that involve a narrow set of choice alternatives, encompass a moderate amount of both information search and analysis, and concentrate on the long-term relationship potential of suppliers are called:

• A)simple modified rebuy.
• B)complex modified rebuy.
• C)casual purchases.
• D)routine low priority purchases.
• E)specialty purchases.

---

Definitions:

Financed Equipment

Assets such as machinery or office equipment that are bought with borrowed funds or through a lease arrangement.

Balance Sheet

A statement presenting a firm's financial position by detailing its assets, liabilities, and equity held by shareholders at a particular moment.

Legal Fees

Payments made to attorneys or law firms for legal services rendered.

Title Insurance

An insurance policy that protects property buyers and lenders against losses from defects in titles.