Some small firms find that they can increase their buying power if they join
A) trade associations
B) purchasing coops
C) diversification buying groups
D) associative forecasting groups

Question

Quizplus · Accepted Answer

Purchasing cooperatives, also known as co-ops, are organizations that bring together small businesses to collectively purchase goods and services at a lower cost than if they were purchasing individually. By pooling their resources and negotiating with suppliers as a group, members of a purchasing coop can benefit from increased buying power, lower prices, and improved access to products that might not be available to them otherwise. This can be especially beneficial for smaller firms that may not have the resources or negotiating leverage to get the best deals on their own. While trade associations, diversification buying groups, and associative forecasting groups might offer other benefits, in terms of increasing buying power, purchasing coops are generally the best choice for small firms.

Some Small Firms Find That They Can Increase Their Buying