Which of the following statements about buyer-seller relationships in business marketing is TRUE?
A) Strong personal and business relationships between buyer and seller are extremely rare
B) Close personal relationships exist between buyer and seller in all industries
C) Personal selling is never an important element of the marketing mix
D) Companies rarely enter into long-term contracts as the opportunity cost of mistakes is high
E) Many companies focus on building relationships that enable buyers and sellers to plan jointly

Question

Quizplus · Accepted Answer

Many companies focus on building relationships that enable buyers and sellers to plan jointly. This helps to ensure that both parties can anticipate each other's needs and work together to meet them, leading to a more successful long-term partnership. While personal relationships may not always be extremely close, there is typically some level of rapport and trust that develops over time. Personal selling can also be an important element of the marketing mix, especially in industries where the products or services being sold require a high level of expertise or customization. Finally, some companies do enter into long-term contracts with suppliers, recognizing that the benefits of such a contract (e.g. more stable pricing, guaranteed supply) can outweigh the risks.

Which of the Following Statements About Buyer-Seller Relationships in Business