The purchase of capital equipment by a company, which is likely quite an involved process, is an example of a _____ situation.

The scenario described involves the purchase of capital equipment, which typically requires significant research, evaluation, and consideration of multiple factors such as cost, specifications, and how the equipment aligns with the company's operational needs. This makes the purchase a new buy situation.

In marketing terminology, a new buy refers to a situation where an organization is purchasing a product or service that it has never bought before. Since capital equipment is often a major investment and likely represents a significant addition or change to the company’s operations, the decision-making process is more extensive compared to other purchasing scenarios. This may involve seeking approval from multiple stakeholders, conducting market research, and comparing various suppliers and products.

In contrast, a straight rebuy would involve purchasing the same product from the same supplier without much thought or reevaluation, while a modified rebuy refers to purchasing a similar product but with some changes in specifications or suppliers. A reseller purchase applies to buying products intended for resale, which is not the case here. Thus, the nature of the capital equipment purchase makes it an example of a new buy situation.