Organizational purchases tend to be data driven and based on ________
A) personal needs of the buyer
B) identifying alternative solutions
C) subconscious and sensory cues
D) relationships with the seller
E) functional and financial value
Answer: E
Explanation: Broadly speaking, however, organizational buyers tend to approach purchasing in a more rational, data-driven fashion, simply because organizational choices are nearly always about functional and financial value.
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According to Michael Porter, which of the following is true of differentiation as a generic strategy?
A) It is an effective strategy for obtaining above-average financial returns because unique products often command premium price. B) It offers an opportunity for small, specialized companies to grow while retaining their narrow focus on highly differentiated products. C) It requires companies to construct the most efficient facilities in terms of scale or technology and obtain the largest share of market. D) It has become increasingly popular in recent years as a result of the popularization of the experience curve concept.
Using Table 7.13, what is the probability that the project will be completed in 65 or fewer weeks?
A) less than or equal to 20% B) greater than 20% but less than or equal to 24% C) greater than 24% but less than or equal to 28% D) greater than 28%