The Group of People Within a Business Who Are Involved

question 19

Multiple Choice

The group of people within a business who are involved in making business buying decisions is referred to as

• A) the new-task team.
• B) negotiators.
• C) purchasing agents.
• D) deciders.
• E) the buying center.

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Definitions:

Economic Environment

The economic factors that impact the operation and performance of businesses, including inflation, interest rates, economic growth, and unemployment rates.

Countercyclical Sales

Countercyclical sales refer to revenues generated from products or services whose demand increases during economic downturns, opposite to the general market trend.

PEST Analysis

A strategic tool used to analyze a company's external environment in four areas: Political, Economic, Social, and Technological factors.