The buying situation where an organization is a first-time buyer of the product or service is referred to as a(n)

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BlackTom AI · Accepted Answer

The question asks about the buying situation when an organization is a first-time purchaser of a product or service.

Option 1: "initial buy." This term is sometimes used informally to describe a first purchase, but the conventional and widely accepted term in business purchasing is "new buy." Using "initial buy" can be misleading because it’s not the standard textbook terminology for a first-time organizational purchase.

Option 2: "new buy." This is the correct term. In purchasing literature, a new buy refers to a situation where the organization is purchasing a product or service for the first time, requiring more extensive decision processes, supplier evaluation, and information gathering.

Option 3: "preliminary buy." This term is not a standard designation for the first organizational purchase. It suggests an early or exploratory phase, but it is not the conventional label used to categorize first-time organizational purchases.

Option 4: "straight rebuy." A straight rebuy occurs when the organization reorders a product or service from a supplier with little to no modifications. It is a routine repurchase of an existing item, not a first-time purchase.

Option 5: "modified rebuy." A modified rebuy involves some changes to the existing order—such as new specifications, price, or suppliers—but it still builds on an existing relationship, not a completely new purchase. This is not the first-time purchase scenario.

In summary, among the choices provided, the term that correctly identifies a first-time organizational purchase is "new buy." Other options describe repeat purchases or nonstandard terms that do not capture the first-time purchase context.

The buying situation where an organization is a first-time buyer of the product or service is referred to as a(n)

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