Organizational Buying Behavior Is Similar to Consumer Behavior in Some

question 54

Multiple Choice

Organizational buying behavior is similar to consumer behavior in some ways and different in others. Common to both is that they

• A)use the same five stages in the buying decision process.
• B)use formal vendor rating when choosing among alternative brands.
• C)are affected by derived demand.
• D)have virtually unlimited options for suppliers.
• E)rely on gatekeepers to control product information.

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Definitions:

Contractual Capacity

The legal ability of a party to enter into a contract, including being of legal age and having sound mind.

Undisclosed Principal

A situation where an agent acts on behalf of a principal, but the identity of the principal is not revealed to the third party involved in the transaction.

Liquor Sale

The regulated process of selling alcoholic beverages, subject to various laws and licenses depending on the jurisdiction.

Undisclosed Principal

A situation in a business transaction where the identity of the principal (the person for whom the agent acts) is not revealed to the third party involved in the deal.