The Three Types of Organizational Buy Classes Are

question 153

Multiple Choice

The three types of organizational buy classes are

• A) industrial, reseller, and government.
• B) consumer products, industrial goods, and services.
• C) users, influencers, and deciders.
• D) straight purchase, barter, and countertrade.
• E) new buy, straight rebuy, and modified rebuy.

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Definitions:

Unit Elastic

Describes a situation where the change in quantity demanded or supplied is exactly proportional to the change in price.

Midpoint Method

A method employed in economics for determining demand or supply elasticity through calculating the mean of the initial and final prices and quantities.

Price Elasticity

A measure of how much the quantity demanded or supplied of a good or service changes in response to a change in its price.

Strategic Leader

A person who guides an organization towards long-term goals by making visionary decisions and inspiring others.