Not Knowing the Roles of Key Players in the Buying

question 85

Multiple Choice

Not knowing the roles of key players in the buying process could cause a sales representative to

• A)bid too high a quantity.
• B)fail the vendor analysis.
• C)respond to an RFP too quickly.
• D)waste time and alienate people.
• E)misdirect his or her product.

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Definitions:

Patent

An exclusive right granted for an invention, which provides the patent holder with protection for the invention from commercial exploitation by others.

Intangible Asset

An asset that lacks physical substance, such as patents, trademarks, goodwill, and copyrights, which can nonetheless provide economic benefits.

Oil Well

A drilling operation focused on extracting petroleum or natural gas from underground reservoirs, usually involving significant exploration and investment.

Goodwill

The excess of the purchase price over the fair value of identifiable assets and liabilities acquired in a business combination.