In the Business Buying Process, What Is the Purpose of Soliciting

question 124

Multiple Choice

In the business buying process, what is the purpose of soliciting an RFP?

• A) to offer qualified potential suppliers the opportunity to submit a proposal to provide the products as specified in the previous stage of the buying process
• B) to give interested suppliers the opportunity to be evaluated for their capability to provide the preferred solution to the buyer's problem
• C) to assess the performance capabilities of existing suppliers
• D) to signal to competitors that the buyer is looking for new sources of supply

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Definitions:

Product Development

The process of bringing a new product to market, including idea generation, design, and manufacturing.

Marketing Objective

A specific, measurable goal that a company aims to achieve through its marketing efforts.

Specific

Distinct or particular to something, not general or vague, often used to describe detailed or focused elements in various contexts.

Measurable

The characteristic of being able to be quantified or assessed through metrics or data.