Buyers Are Highly Price Sensitive When

question 63

Multiple Choice

Buyers are highly price sensitive when

• A) their purchase represents a small fraction of their procurement budget.
• B) they earn low profits or are strapped for cash.
• C) the quality of their products and services are highly affected by the quality of the inputs.
• D) the industry's products are highly characterized with non-price competition.

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Definitions:

Strictness

The quality of exacting standards or stringent enforcement of rules, often applied in disciplinary contexts.

Performance Appraisals

The process of evaluating an employee's job performance and productivity in relation to established criteria and organizational objectives.

Labour Market

The labour market is the arena in which employers seek employees to hire and where individuals offer their skills and labor in exchange for wages.

Employee Career

The progression and development of an individual’s work life and professional achievements over time, often involving various roles and responsibilities.