If a Potential Vendor Offers What Is Perceived by a Member

question 130

Multiple Choice

If a potential vendor offers what is perceived by a member of the buying center to be a better buy, the company may want to revisit the purchase decision. This type of situation is typically a:

• A)straight rebuy.
• B)modified rebuy.
• C)new task purchase.
• D)joint demand purchase.

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Definitions:

Cross-elasticity of Demand

A measure indicating how the demand for one good responds to a change in the price of another good.

Popcorn

A type of corn kernel which expands and puffs up when heated, commonly enjoyed as a snack.

Potato Chips

Thin slices of potato that are fried or baked until crispy and often flavored.

Income Elasticity of Demand

A measure of how much the quantity demanded of a good responds to a change in consumers' income.