While Similar in Concept,blanket Purchase Orders Are Typically Used More

question 29

Multiple Choice

While similar in concept,blanket purchase orders are typically used more often for ____ purchases,while longer-term purchase agreements are used for ____ purchases.

• A) unique....routine
• B) lower-value....higher-value
• C) complex....simple
• D) higher-value....lower-value
• E) There are no differences in the types of products or amounts purchased in either method.

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Definitions:

Purchase Decision-Making

The process through which consumers or organizations decide whether or not to buy a product or service, considering various factors and influences.

Actual Purchase

Actual purchase refers to the completion of buying goods or services, marking a finalized transaction.

Close Customer Contact

A business strategy emphasizing direct and frequent interaction with customers to tailor services or products to their needs.

Formal

Relating to official, regulated, or structured situations, often characterized by established rules or customs.