Lonnie Is a Newly Trained Salesperson for a Company That

question 54

Multiple Choice

Lonnie is a newly trained salesperson for a company that manufactures customized display shelf and storage units for retail stores. Lonnie was proud of the number of sales he made during his first months of selling. Today he received a call from his sales manager who was highly critical of Lonnie's recent sales. It seems that Lonnie was offering potential customers a 10 percent discount if they would make an immediate purchase. Lonnie's company has a policy of not offering a discount of any kind

• A) Market/industry orientation
• B) Company orientation
• C) Territory management
• D) Product knowledge
• E) All of the above

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Definitions:

Marginal Product

The change in total output that results from the employment of one additional unit of a resource.

Marginal Cost

Represents the change in total production costs resulting from making one additional unit of a product or service.

Economies of Scale

Advantages in cost that businesses gain from expanding their production scale, leading to a decrease in the average cost per unit produced as the operation size grows.

Average Farm

Refers to a farm with characteristics (size, income, production level) that represent the mean or typical values when compared to the broader agricultural landscape.