Which of the Following Best Explains 'Commodity Strategies

question 38

Multiple Choice

Which of the following best explains 'commodity strategies'? 

• A) A clear and detailed picture of a company's future purchasing spending. 
• B) A plan of action to reduce purchasing spending. 
• C) A plan of action to address past supplier difficulties. 
• D) A plan of action to reduce dependency on suppliers.

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Definitions:

Demographic Segmentation

Segmentation that divides markets by characteristics such as age, gender, income, education, and family size.

Loyalty

The state or quality of being loyal; fidelity to a company, brand, or person, often resulting in repeated business or advocacy.

Price Sensitivity

The degree to which the price of a product affects consumers’ purchasing behavior.

Broad Segmentation Bases

Wide-ranging criteria used to divide a market into distinct customer groups with varying needs, characteristics, or behaviors.