Many Companies Recognize That Winning and Keeping Accounts Requires More

question 64

Multiple Choice

Many companies recognize that winning and keeping accounts requires more than making good products and directing the sales force to close lots of sales.It requires _______________ .

• A) earning business from customers based on low prices
• B) listening to customers, understanding their needs, and creating customer value to build lasting relationships
• C) closing deals quickly to meet team sales quotas
• D) gaining short-term sales that increase annual sales volume
• E) challenging customers to find better deals for products and services

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Definitions:

Compounded Interest

This refers to the calculation of interest on the original principal amount as well as on the interest that has accrued in earlier times, applicable to both deposits and loans.

Rate Of Return

The earning or losing of funds on an investment throughout a defined timeframe, detailed as a percentage of the original amount invested.

Profits

The financial gain made in a transaction or operation, calculated as the difference between revenue and costs.

Compounded Annually

This refers to the process where interest is added to the principal sum, so that from that moment on, the interest that has been added also earns interest, being calculated and added to the account annually.