Suppose You're a Salesperson Making a Sales Proposal to a Potential

question 21

Multiple Choice

Suppose you're a salesperson making a sales proposal to a potential customer.During the presentation you learn your product offering will not maximize the buyer's evaluation score in comparison with a competitor's offering.Which the following is probably the best strategy for you follow?

• A) End your presentation without disclosing your product's weaknesses
• B) Exaggerate a little to improve your score
• C) Attempt to explain to the buyer that the characteristics on which your product scores low are not really important
• D) Modify your market offer to one that is more customized to your buyer's needs
• E) Call attention to neglected attributes

Assess externalities and their impacts on social welfare.

Evaluate the role of public policy in addressing free-rider problems and externalities.

Comprehend the characteristics and examples of each of the four types of goods discussed.

Understand the concept of public goods, including the free-rider problem and its implications for the provision of public goods.

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Definitions:

Raw Materials Inventory

The total cost or value of all the raw materials that are to be used in production and are currently stored in inventory.

Raw Materials Production Needs

The quantity and type of raw materials required to meet production targets based on the designed product and manufacturing processes.

Raw Materials Cost

The expense associated with acquiring the unprocessed materials required in the manufacture of products.

Cash Collected

The total amount of money received from sales, services, or other business activities.