When a Business Purchaser Reorders a Product That Has Performed

question 97

Multiple Choice

When a business purchaser reorders a product that has performed satisfactorily in the past without assessing competing options,the buying situation is called:

• A)a straight rebuy.
• B)new-task buying.
• C)value engineering.
• D)a modified rebuy.

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Definitions:

Industrial Regulation

Regulatory policies and procedures designed to control or supervise industries with the goal of promoting fair competition, reducing monopoly power, and protecting consumer interests.

Fair Return Price

A fair return price is a price level set for a product or service that allows a company to cover its costs while earning a reasonable profit, often discussed in the context of regulated industries.

Herfindahl Index

A measure used to calculate the level of concentration in a market, indicating the competitiveness of the market.

Market Shares

The portion of a market controlled by a particular company or product, often expressed as a percentage of total sales in that market.