Businesses Follow a Defined Buying Decision Process in Order to Ensure

question 3

Multiple Choice

Businesses follow a defined buying decision process in order to ensure the goods and services they purchase will meet their organization's needs. The process has multiple stages, and in one of the stages the business will evaluate each component of potential purchase. This includes evaluating the quality, design, materials and any other relevant aspect of the purchase. This evaluation takes place in which of the following stages of the business buying decision process?

• A) First stage - The business recognizes a problem or need exists
• B) Second stage - Product specifications are developed
• C) Third stage - Search for potential products
• D) Fourth stage - Product for purchase is selected
• E) Fifth stage - Product quality and supplier performance is evaluated

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Definitions:

Ratio

A connection between two figures that shows how often the first figure includes the second one.

Ratio

A quantitative relationship between two numbers showing how many times the first number contains the second or is contained by it.

Ratio

A quantitative relationship between two numbers indicating how many times the first number contains the second.

Ratio

A quantitative relationship between two numbers, showing how many times the first number contains the second.