Purchasing Specifications

question 127

Multiple Choice

Purchasing specifications

• A) may simply include a brand name or part number when purchasing requirements are complicated.
• B) for services, as compared to goods, tend to be detailed because services are usually performed before they're purchased.
• C) for services, as compared to goods, tend to be detailed because services are more standardized than goods.
• D) are often simple for manufactured items with highly standardized quality.
• E) None of these alternatives is correct.

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Definitions:

Escalation Of Commitment

The decision-making error of investing additional resources in a failing course of action due to commitments already made.

Market Share

The percentage of an industry's sales that a particular company controls, signifying the company’s size and competitiveness in the market.

Informational Influence

The effect of information or knowledge from others in shaping one’s beliefs, attitudes, or behaviors, often occurring in social settings where individuals look to others for guidance in uncertain situations.

Normative Influence

The impact of the expectation of conforming to the norms of a given group, which guides an individual's behavior to match group standards.