Vendor Analysis

question 158

Multiple Choice

Vendor analysis:

• A) has the sole objective of getting the lowest possible price on a particular product or service from the supplier.
• B) does not take into account the behavioral needs of purchasing managers and others involved in the buying decision.
• C) is a formal rating of suppliers on all relevant areas of performance.
• D) None of these alternatives about vendor analysis is correct.

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Definitions:

Experimenter Bias

A process where the scientists performing the research influence the results, in order to portray a certain outcome.

Placebo Effects

Psychological or physiological responses seen in individuals receiving an inert treatment, attributed to the belief in the treatment’s efficacy.

Placebo Effect

is a beneficial effect produced by a placebo drug or treatment, which cannot be attributed to the properties of the placebo itself, and must therefore be due to the patient's belief in the treatment.

Therapy

The treatment of physical, mental, or psychological disorders through methods including counseling, medication, or other health care interventions.