Question

In the establishment of the specifications stage of a B2B buying process:

Question 3 options:

	each vendor's proposal, bid, or price quotation is evaluated for acceptability.
	the buyer works out any terms that still remain.
	the business spells out what is needed and develops decision criteria on which to make a vendor choice.
	the requirements arising out of a company's operations are recognized.
	the choice of how to acquire a product is made.

Answer 1

Ans: the business spells out what is needed and develops decision criteria on which to make a vendor choice

The establishment of specifications or the development of specifications is the step at which the exact needs are outlined. The appropriate people in the organization would determine the exact specifications of the product: what functions it will have, how large it will be, what materials it will be made of, how many colors will be offered, and all other attributes of the product.