Identify and briefly discuss any three of the factors that influence the bargaining strength and leverage of buyers.
What will be an ideal response?
Among these factors are: (1) cost of buyers switching to competing brands or substitutes, (2) number of buyers or if a customer is particularly important to a seller, (3) level of buyer demand, (4) degree to which buyers are well informed about competing products and prices, and (5) degree to which buyers pose a credible threat to integrating backward into the business of sellers.
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Random error affects the measurement in a constant way and represents stable factors that affect the observed score in the same way each time the measurement is made
Indicate whether the statement is true or false
How do merchant wholesalers and agents/brokers differ?
What will be an ideal response?
The buying process starts with ________, in which the buyer recognizes a need or want
A) problem/opportunity recognition B) information search C) product awareness D) product interest E) evaluation of alternatives
The ability of a corporation to obtain capital is
A) less than a partnership. B) about the same as a partnership. C) restricted because of the limited life of the corporation. D) enhanced because of limited liability and ease of share transferability.