What Is the Purpose of a Situation Question in the SPIN

question 56

Essay

What is the purpose of a situation question in the SPIN (situation questions,problem questions,implication questions,need payoff questions)technique used by salespeople to understand a customer's needs?

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Definitions:

Paid-In Capital

The amount of capital "paid in" by investors during common or preferred stock issuances, including the par value of the shares and any amount paid in excess.

Authorized

Officially sanctioned or given permission, often used in the context of legal or financial matters to indicate approved actions or processes.

Par Value

The nominal or face value of a stock or bond as stated by the issuing company, which may differ from its market value.

Entity

An organization or being with a distinct and independent existence, usually referred to in legal, financial, or tax contexts.