Identify a Key Characteristic of Buyers Who Are Highly Committed

question 46

Multiple Choice

Identify a key characteristic of buyers who are highly committed to play the role the firm dictates.

• A) They have no interest in prescribing their role activities and accept their role as given to them.
• B) They often demand that they be kept constantly advised of all new developments to develop and further their own role.
• C) They seek to take charge in their role as buyer and have little commitment to company expectations.
• D) Such buyers are extremely innovative and have a casual stance toward performing the expected role.

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Definitions:

R&D

R&D stands for research and development, the process of investing time and capital in developing new products, processes, or services, or improving existing ones.

Competitive Industries

Industries in which multiple firms compete, often characterized by high levels of competition which drive innovation and efficiency.

Fast-Second Strategy

Fast-Second Strategy is a business approach where a company quickly follows innovators, improving upon their innovations or successfully commercializing them.

Dominant Firm

A company that has a large market share within its industry, giving it significant market power and the ability to influence market conditions.