The Tasks Involved in Managing Personal Selling Include the Following

question 118

Multiple Choice

The tasks involved in managing personal selling include the following: (1) setting objectives; (2) organizing the salesforce; (3) recruiting, selecting, training, and compensating salespeople; and (4) __________.

• A)identifying potential target markets.
• B)evaluating the performance of individual salespeople.
• C)using salesforce input to make product modifications.
• D)maintaining open communications between sales representatives and all other stakeholders.
• E)designing new promotional campaigns for the purpose of generating new sales.

Explain the use and calculation of the Laspeyres and Paasche price indices.

Understand the Weak Axiom of Revealed Preference (WARP) and how it applies to consumer choices.

Comprehend the Strong Axiom of Revealed Preference (SARP) and its implications for consumer behavior.

Examine how changes in income and price affect consumer preferences and choices across different time periods and scenarios.

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Definitions:

Objectives

Specific, measurable goals that an individual or organization aims to achieve within a certain timeframe.

Organizational Control Systems

Mechanisms put in place by a business to monitor, manage, and steer the organization toward its strategic objectives.

Strategies and Plans

Strategies and plans entail the deliberate actions and roadmaps that organizations or individuals set to achieve specific long-term objectives and goals, including the allocation of resources and timelines.

Evaluation-reward System

A structured process where an organization assesses the performance of its employees and provides rewards based on the outcomes, aiming to motivate and increase effectiveness.