Suppose You're Working as a Salesperson and One of Your

question 29

Multiple Choice

Suppose you're working as a salesperson and one of your prospects tells you they are interested in your product because you offer a long warranty and a liberal return policy. Which of the following needs is the buyer expressing?

• A) Situational needs
• B) Functional needs
• C) Social needs
• D) Psychological needs
• E) Knowledge needs

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Definitions:

Ten Years

A period of ten consecutive years, often used as a significant measurement of time for planning, analysis, and comparison in various contexts.

Discount Rate

The interest rate that is used in the context of DCF analysis which helps in determining the current value of cash flows to be received in the future.

Lease Payments

Regular payments made to lease or rent an asset, such as machinery or office space.

Annual Payment

A periodic payment made once a year, often related to financial agreements or obligations.