When Buyers Use ___________________ to Draw Inferences About the Quality

question 12

Multiple Choice

When buyers use ___________________ to draw inferences about the quality of products, then markets may have trouble reaching _________________ and quantity.

• A) adverse selection; an equilibrium price
• B) imperfect information; a market price
• C) the market price; an equilibrium price
• D) imperfect selection; a market price

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Definitions:

Prospecting

The method of finding possible customers, clients, or purchasers for the products or services offered by a business.

The Close

Refers to the point in a sales process where a salesperson convinces the client to make a purchase.

The Pre-Approach

A step in the sales process involving research and planning before making direct contact with a potential customer.

Desired Action

The specific behavior or response a marketer aims to elicit from the target audience.