Organizational Buying Is the Decision-Making Process by Which Formal Organizations

question 153

True/False

Organizational buying is the decision-making process by which formal organizations establish the need for purchased products and services and identify, evaluate, and choose among alternative brands and suppliers.

---

Definitions:

Feedback

Information provided about the results of one's actions intended to guide future behavior or performance.

Rational Model

A decision-making process based on systematic analysis of a problem, identification of options, and logical choice among alternatives.

Holistic Picture

An overall or complete view that considers all factors, elements, or aspects of a situation.

Rational Choice Models

These are analytical frameworks designed to understand social, economic, and political behaviors based on the assumption that individuals choose actions that maximize their utility or benefit.