Question

Jenny was feeling frustrated. "What's taking them so long to make a decision? It's been weeks since I first met with them, and they all seem interested in the product. I've also jumped through all their paperwork hoops." Jenny is likely selling to a firm in which kind of buying situation?

Answer 1

Answer: A. New buy

Explanation:

The situation described is most likely a NEW BUY situation because it bares some characteristics of same. In a new buy, customers generally take their time to make a decision and put the seller through a lot of paperwork in the case of corporate entities in a bid to assess the risk or cost of the new product. It is also necessary to do so as they have no previous experience with the seller and so trust cannot play a center stage.

Jenny also implied that it was the first time she had met them and it was also the first time they had been introduced to the product so there is that.

If you have any need for clarification do react or comment.

Answer 2

Group of answer choices:

A) New buy

B) Modified rebuy

C) Straight rebuy

D) Generic buy

E) Adapted buy

Answer:

The correct answer is letter "A": New buy .

Explanation:

In the corporate world, the new buy refers to the process in which a firm engages in the purchase of a new product or service. The company needs time to research different options attempting to select the most suitable. From the seller side, they must provide as many details of their goods as possible to attract new consumers. Persuasion is a key factor to close the deal.

After the decision is taken, some organizations may still be looking for options in case the product bought does not meet their standards.