This article covers meaning & overview of Standing Offer from marketing perspective.
Standing Offer is an agreement between a supplier and buyer where supplier agrees to provide the desired goods and services to the supplier as and when asked at a predetermined price. Standing offer is not a contract. It is only valid for a set period after which it needs to be renewed. There are various terms and conditions attached to the agreement. Such an offer mostly cannot be revoked.
Standing offers are mostly used when the buyer is ordering the goods very frequently and wants to get the goods delivered when actually required. It can be used when the buyer anticipates the future demand of these goods but is unable to identify the exact demand and hence a standing offer is made. It helps saving the time and cost so that the buyer can have the goods as and when required at a price already set.
Such services are often used for the common goods like food, pharmaceuticals, tyre supplies, plumbing requirements and office supplies etc
This article has been researched & authored by the Business Concepts Team which comprises of MBA students, management professionals, and industry experts. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
Browse the definition and meaning of more similar terms. The Management Dictionary covers over 1800 business concepts from 5 categories.
Continue Reading:
What is MBA Skool?About Us
MBA Skool is a Knowledge Resource for Management Students, Aspirants & Professionals.
Business Courses
Quizzes & Skills
Quizzes test your expertise in business and Skill tests evaluate your management traits
Related Content
All Business Sections
Write for Us