At the End of the 1980s,Lloyd's of London Was in Severe

question 185

Multiple Choice

At the end of the 1980s,Lloyd's of London was in severe financial trouble because of:

• A)a major recession in Western Europe and the United States.
• B)terror attacks by the IRA.
• C)asbestos claims.
• D)the war in Iraq.

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Definitions:

Personal Selling Process

The series of steps salespeople follow when selling a product or service, including prospecting, approaching, presenting, handling objections, closing, and follow-up.

Preapproach

In the personal selling process, occurs prior to meeting the customer for the first time and extends the qualification of leads procedure; in this step, the salesperson conducts additional research and develops plans for meeting with the customer.

Optimist

An individual who habitually looks on the more favorable side of events or conditions and expects the most favorable outcome.

Salesperson

A professional who sells products or services, often directly to consumers, playing a crucial role in the customer purchase experience.