Which of the following statements is true of a new buy?

Question

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A new buy is a situation where the buyer has no previous experience of purchasing a product or service. This generally involves extensive research and evaluation of suppliers and their offerings, which can be time-consuming. Therefore, a new buy is more time-consuming than a modified rebuy where the buyer has experience and is familiar with the product or service. Option A is incorrect because a purchasing contract can be used in any type of purchase situation. Option B is incorrect because a change in the original service is not necessary in a new buy situation. Option C is incorrect because a new buy can be a critical and urgent situation, depending on the nature of the product or service being purchased.

Which of the Following Statements Is True of a New