Purchasing Managers in Business Markets (Compared to Buyers in Consumer

question 2

Multiple Choice

Purchasing managers in business markets (compared to buyers in consumer markets) are generally:

• A) fewer in number.
• B) more technically qualified.
• C) less emotional in their buying motives.
• D) more insistent on dependability and quality.
• E) all of the above.

---

Definitions:

Price Discrimination

A pricing strategy where a seller charges different prices for the same product or service to different customers, based on factors like location, age, or buying habits.

Elastic Demand

Refers to a situation where the quantity demanded of a good or service significantly changes in response to changes in its price.

Single Price

A market condition where all units of a homogeneous good or service are sold at the same price to all buyers.

Price Discrimination

A pricing strategy where a seller charges different prices for the same product or service to different consumers, based on factors like demand, market conditions, or consumer attributes.