_____ Generally Outline the Procedures to Be Used in Specific

question 16

Short Answer

_____ generally outline the procedures to be used in specific ethical situations, such as marketing practice, conflicts of interest, and observance of laws.

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Definitions:

Manufacturers' Representatives

Individuals or businesses that sell manufacturers' products to wholesalers and retailers without taking ownership of the goods, operating on a commission basis.

Sales Administration

The process of overseeing and managing a company's sales operations, including planning, reporting, and goal setting.

Ethics

The branch of philosophy that deals with questions about morality, including the analysis of concepts like right and wrong, virtue and vice, and justice.

Pricing Strategies

Methods businesses use to set the selling price for their products or services, based on factors like cost of production, market demand, competition, and customer value perception.