BBR 503 & BUYING

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Assignment

DRIVE	SPRING 2015
PROGRAM	Bachelor of Business Administrate – BBA
SEMESTER	5
SUBJECT CODE & NAME	BBR 503 & BUYING
BK ID	B1804
CREDIT & MARKS	2 Credits, 30 marks

Q.1 Managing the buying function helps retailers in performing buying activities in a planned manner. Comment.

Answer: - Meaning of Buying:-

Buying in may refer to:

In management and decision making, buy-in (as a verb or noun, although only the noun form should be hyphenated) signifies the commitment of interested or affected parties to a decision (often called stakeholders) to 'buy into' the decision, that is, to agree to give it support, often by having been involved in its formulation.

·         Buying in (poker), a tournament entra

Q.2 Explain on buying decision making and types of data required for market research.

Answer: - Buying decision making process: - Buyer decision processes are the decision making processes undertaken by consumers in regard to a potential market transaction before, during, and after the purchase of a product or service.

More generally, decision making is the cognitive process of selecting a course of action from among multiple alternatives. Common examples include shopping and deciding what to eat. Decision making is said to be a psychological construct. This

Q.3 Give short notes on:

Answer: - Centralized buying: - A purchasing system in which all the departments of a company with a wide geographical distribution can make purchases through a common purchasing organization. Centralized purchasing aids finding the best deals with local vendors for the corresponding location of the company department. Avoids duplicity of orders and promotes benefits arising from the high volume bulk discounts, lower transportation and inventory management costs, organized transactions and improved vendor relationships. Usually located at company headquarters. Opposite of decentralized purchasing.

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