Which of the following best explains 'the customer's specification'?
A) The buyer knows precisely the cost of the material to be purchased.
B) The buyer can only obtain a rough indication of the product's cost by means of supply market research.
C) The buyer can only obtain a rough indication of the product's cost by means of demand market research.
D) The buyer knows precisely the profit margin on the material to be purchased.

Question

Which of the following best explains 'the customer's specification'? 
A) The buyer knows precisely the cost of the material to be purchased. 
B) The buyer can only obtain a rough indication of the product's cost by means of supply market research. 
C) The buyer can only obtain a rough indication of the product's cost by means of demand market research. 
D) The buyer knows precisely the profit margin on the material to be purchased.

Quizplus · Accepted Answer

The customer's specification refers to the specific requirements or details that the buyer has for a particular product or material they want to purchase. This may include details such as the product's dimensions, materials, features, or functions. Knowing the cost of the material is an important aspect of the customer's specification as it helps them determine whether the product they want to buy fits within their budget.

Which of the Following Best Explains 'The Customer's Specification