During Periods of Recession

question 56

Multiple Choice

During periods of recession

• A) the unemployment rate declines.
• B) the unemployment rate rises.
• C) household income rises.
• D) output rises.
• E) real GDP rises.

Recognize psychological and economic needs influencing customer purchases.

Understand the importance of emphasizing product benefits in sales presentations.

Identify specific sales strategies, like the SELL Sequence and FAB technique, for effective sales presentations.

Discern the different levels of consumer need awareness and appropriate sales techniques for each.

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Definitions:

Personal Banker

A bank employee who provides financial advice, manages accounts, and offers banking services to individual clients.

Government Agency

An organization part of the government tasked with enforcing specific laws, regulating industries, or providing government services.

Service Continuum

The range of services offered by a company, from purely physical products to purely service offerings.

Government-sponsored Services

Services provided by the government to its citizens, including education, healthcare, and public transportation.