Question

17 Select the correct answer. Which characteristic best describes organizational buying? A. The market contains huge numbers of buyers. B. Buying is informal in nature. C. The sales cycle is often very short. D. Sellers regularly offer customized products.

Answer 1

Answer:

The market contains huge numbers of buyers.

Explanation:

Organization buying is the process through which formal institutions establish the basis for purchasing products or services. It involves identifying, evaluating, and picking the ideal option from the available brands and suppliers. A typical organization will have a team of skilled workers directly or indirectly involved in the buying process.  Businesses that purpose to maximize profits will go the extra mile to get the best deals on their purchases.

Organization buying will involve the participation of many people.  Common characteristics of organization buying are

• Several people in the organization influence buying
• The organizational buyers are qualified professionals in purchasing.
• A lot of purchasing occurs in direct dealing with producers.
• The purchases are in large quantities
• Close relationships and service are required.