Reverse auction pricing involves sellers bidding for organizational buyers' purchases.

Question

Quizplus · Accepted Answer

Reverse auction pricing is a process in which sellers compete to win the business of organizational buyers by bidding for their purchases. In this type of pricing, buyers set the terms of the auction, including the lowest price they are willing to pay, and sellers bid against each other until the lowest price is reached. Therefore, the statement is true.

Reverse Auction Pricing Involves Sellers Bidding for Organizational Buyers' Purchases