Strategic Sourcing Is Almost the Same as Procurement

question 25

True/False

Strategic sourcing is almost the same as procurement.

Describe the roles within a buying center and the importance of each in the B2B purchasing process.

Distinguish between different B2B buying situations: new buy, straight rebuy, and modified rebuy.

Understand the concept of an evoked set in consumer decision-making.

Recognize the unique aspects and market participants in the institutional market.

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Definitions:

Anticipation

The action of expecting or predicting something based on current knowledge or instincts.

Spontaneous Recovery

The reappearance of a previously extinguished conditioned response after a period of rest with no further conditioning.

Higher-Order Conditioning

Occurs when a strong conditioned stimulus is paired with a neutral stimulus, causing the neutral stimulus to become a second conditioned stimulus.

Extinction

Within the field of psychology, the slow diminishment and ultimate vanishing of a learned response occurs when a conditioned stimulus is continuously shown without pairing it with the unconditioned stimulus.