The Five “Right Objectives” of Purchasing Are

question 33

Multiple Choice

The five “right objectives” of purchasing are:

• A)Quality, Quantity, Price, Time, Place
• B)Cost, Service, Specs, Time, Quantity
• C)Place, Time, Price, Ethics, Contract
• D)Agent, Supplier, Contract, Price, Quantity
• E)Service, Time, Quality, Price, Quantity

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Definitions:

Market Segmentation

The method of segmenting a market into unique groups of purchasers, each with their own needs, traits, or behaviors, who may need different products or marketing approaches.

Luxury Car Wash

A premium service providing thorough cleaning, polishing, and detailing of automobiles, emphasizing high-quality care and customer service.

Premium Services

High-quality or additional services offered to customers, often at a higher price, to enhance their experience or provide added value.

Boutique Hotel

A small and stylish hotel that typically offers personalized services and is designed with a thematic or unique approach.