The Practice of Professional Selling Has Been Changed by the Advent

question 41

Multiple Choice

The practice of professional selling has been changed by the advent of better educated and more sophisticated buyers, better access to information, and intensified competition due to globalization. How should sellers respond to this shift?

• A) Sellers must use a balanced push-pull approach that meets the buyer's needs.
• B) Sales professionals must adopt a value-based approach to help improve the customer's bottom line.
• C) To be successful, sellers must be more focused on achieving their objectives.
• D) The practice of professional selling has not changed despite the many changes in the marketing environment.

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Definitions:

Marginal Cost

The alteration in the overall cost of production that occurs with each additional unit produced.

Total Revenue

The amount a firm receives for the sale of its output.

Nash Equilibrium

A concept within game theory where no participant can gain by a unilateral change of strategy if the strategies of the others remain unchanged.

Profit-Maximizing

The process by which a firm determines the price and output level that returns the maximum profit.