For Sales Training Purposes, Some Firms Use Classification Methods to Categorize

question 138

Multiple Choice

For sales training purposes, some firms use classification methods to categorize buyers according to

• A) personality and the buying situation.
• B) the buyer's expertise and ease of making sales.
• C) the firm's account size and products purchased.
• D) their interest in trying new product lines.
• E) their level of input to the sales decision.

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Definitions:

Labor Supplied

Refers to the total hours that workers are willing and able to work at a given wage rate, in a given time period.

Income Effect

Describes how a change in an individual's income affects their purchasing decisions.

Substitution Effect

The shift in buying habits because of variations in the prices of different products, causing individuals to substitute pricier options with more affordable ones.

Labor Supply

The total hours that workers are willing and able to work at a given wage rate in an economy.