Which of the following statements accurately characterizes buying behaviour in organizational markets?
A)Organizational buying behaviour is similar to consumer buying behaviour since individuals are involved in both processes.
B)Purchase orders are usually small.
C)Demand for industrial products is elastic instead of inelastic or derived because companies, not ultimate consumers, determine the quantity of goods produced.
D)Fewer customers typically exist in organizational markets than in consumer markets.

Question

Quizplus · Accepted Answer

Organizational markets often have fewer customers compared to consumer markets because they consist of businesses purchasing goods or services for operations, production, or resale, rather than individual consumers buying for personal use. This leads to a more concentrated customer base.

Which of the Following Statements Accurately Characterizes Buying Behaviour in Organizational