Personal Selling Is

question 194

Multiple Choice

Personal selling is:

• A)the two-way flow of communication between a buyer and a seller, designed to influence a person's or group's purchase decision.
• B)a short-term inducement of value offered to arouse interest in buying a good or service.
• C)a paid form of non-personal communication about an organization, good, service, or idea by an identified sponsor.
• D)a non-personal, indirectly paid presentation of an organization, service, or product.

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Definitions:

Competitive Quantity

Indicates the amount of product or service offered by businesses in a competitive market scenario, aimed at achieving optimum market share.

Natural Monopoly

A market condition where a single firm can supply a good or service to an entire market at a lower cost than two or more firms.

Average Total Cost

The total cost of production (fixed plus variable costs) divided by the total quantity of output.

Market Output

The aggregate amount of products and services created and available for purchase within a market.