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:

Markup

The amount added to the cost price of goods to cover overhead and profit, expressed as a percentage of the cost.

Gross Profit

The financial gain obtained after subtracting the cost of goods sold from the total revenue.

Net Profit

The amount of money remaining after all operating expenses, interest, taxes, and dividends have been deducted from total revenue.

Zone Price

The price based on geographic location or zone of customers.