What Is the First Step in the Personal-Selling Process

question 78

Multiple Choice

What is the first step in the personal-selling process?

• A) making the presentation
• B) soliciting
• C) approaching the prospect
• D) prospecting

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Definitions:

Effective Annual Rate

The interest rate on a loan or investment, adjusted for the effect of compounding over a given period.

Compounded Annual

The process of calculating interest on both the initial principal and the accumulated interest from previous periods on a deposit or loan.

Nominal Rates

The stated interest rate on a loan or investment, not accounting for inflation or compounding effects.

Real Rates

Real rates refer to the interest rates adjusted for inflation, representing the true cost of borrowing or the real yield on an investment.