People Play Five Roles in a Buying Decision

question 140

Essay

People play five roles in a buying decision. Name and explain these roles by describing a typical consumer purchase scenario.

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Definitions:

Accounts Receivable

The sum of money that customers owe to a company for products or services that have been provided but not yet compensated for.

Speed Up Payments

Actions or policies implemented to reduce the time it takes to receive payments from customers, thereby improving cash flow.

Lockboxes

A service provided by banks to process payments more quickly by having checks sent to a special post office box instead of the company's address.