You Receive a Raise of 3% at Work

question 1

Multiple Choice

You receive a raise of 3% at work.The rate of inflation is reported to be 5%.

• A)Your purchasing power has decreased 2%.
• B)Your purchasing power has increased 2%.
• C)Your purchasing power remains the same.
• D)Your purchasing power is not a variable and therefore is not affected.

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Definitions:

SPIN Selling

SPIN Selling is a sales technique that focuses on asking potential customers Situation, Problem, Implication, and Need-payoff questions to better understand their needs and offer solutions.

Consequences

The results or outcomes of actions, which can be intended or unintended, positive or negative.

Marketing Concept

The idea that a firm’s long-term success must include a companywide effort to satisfy customer needs and wants.

Sales Presentation

A pitch or demonstration given to prospective buyers with the goal of making a sale by highlighting the benefits and features of a product or service.