Question

Which of the following can be considered as an example of an industrial buying process? 1. A student buying a pen 2. A patient buying medicine 3. A person buying grocery 4. A company buying machinery

Answer 1

Answer:

a company buying machinery

Answer 2

Option 4 (A company buying machinery) is the correct option.

Explanation:

• Industrial Buying Process or organizational buying process involves more physical and observable stages of decision-making process by which any organization establishes the need to purchase products, services or both and then identifies, evaluates, and chooses among alternatives available.

• The 8 steps involved in business purchasing process are: i) identifying the business need; ii) determining a budget; iii) selecting a purchasing team; iv) defining specifications; v) searching for options; vi) evaluating options; vii) making the purchase; and viii) re-evaluating the purchase.

• Option 4 A company buying machinery is an example of an industrial buying process, because it will involve an business entity or an organization to make a buying decision whereas the rest three option have an individual making decision to buy things.