The Traditional Approach to Selling Views the Initial Sale of a Product

question 8

Multiple Choice

The traditional approach to selling views the initial sale of a product or service as

• A) merely the first step in a long-term relationship-building process.
• B) the culmination of the sales process.
• C) a long-term partnership mutually beneficial to both the buyer and seller.
• D) a relationship-building process and not the end goal.

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Definitions:

Concentration Banking

Employing one bank to manage the balances in remote accounts. Balances are generally swept into the concentration bank daily.

Wire Transfers

Electronic transfers of funds across a network administered by banks or transfer service agencies globally.

Average Collection Period

The average number of days it takes a company to collect payments from its credit sales.

Credit Sale

A transaction where the payment for the purchased goods or services is deferred to a future date.