A firm deciding to purchase more energy-efficient machines in response to rising fuel prices illustrates the first step in the business buying process.

Question

Quizplus · Accepted Answer

The first step in the business buying process is problem recognition, which occurs when a firm realizes that there is a problem or opportunity that can be addressed through a purchase. In this case, the firm has recognized the problem of rising fuel prices and is considering purchasing more energy-efficient machines as a solution.

A Firm Deciding to Purchase More Energy-Efficient Machines in Response