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Explain the Three Motives for Holding Money

question 30

Essay

Explain the three motives for holding money. Give one example of each.


Definitions:

Need-satisfaction

A sales approach focusing on identifying and meeting the specific needs of a client or customer, thereby creating value and fostering positive relationships.

Need-utilization

The process of identifying and making use of customers' requirements to effectively sell a product or service.

Need-perception

The process by which individuals recognize and understand their own needs or the needs of others.

Need-comprehension

The process of understanding and identifying a customer's needs, requirements, and problems that a product or service can solve.

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