10 Questions
The B2B process starts with the product specification stage.
False
Need recognition in B2B can only be generated externally, not internally.
False
In the RFP process, vendors are not invited to bid on supplying required components and services.
False
A web portal is a physical location where businesses meet to negotiate contracts.
False
The proposal analysis stage is skipped in the B2B buying process.
False
The B2B buying process only involves one stage of decision-making.
False
B2B organizations do not inform their preferred vendors about their RFP needs.
False
The RFP process stands for Request for Pricing in B2B transactions.
False
The B2B buying process does not involve any negotiation between vendors.
False
The B2B buying process concludes with the need recognition stage.
False
Test your knowledge on assessing vendor performance based on specified order details, compliance penalties, and payment terms. Learn about the importance of evaluating vendors using metrics.© McGraw Hill LLC Shironosov/Getty Images 14 Step 5: Order Specification Firm places the order with its preferred supplier (or suppliers).The exact details of the purchase are specified, including penalties for noncompliance.All terms are detailed including payment.© McGraw Hill LLC Shutterstock / Bacho 15 Stage 6: Vendor Performance Assessment Using Metrics EXHIBIT 7.3: Evaluating a Vendor’s Performance (2) Importance Score (3) Vend...
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