Growth in an Embryonic Industry Is Slow Because of Buyers

question 17

True/False

Growth in an embryonic industry is slow because of buyers' unfamiliarity with the industry's product, high prices due to the inability of companies to reap any significant scale of economies, and poorly developed distribution channels.

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Definitions:

Purchasing Agents

Purchasing agents are professionals responsible for buying goods, services, or works for their organization, emphasizing on obtaining the best quality at the lowest cost.

Buyer's Product Line

The range of products a buyer is responsible for purchasing or managing within an organization or retail environment.

Sales Call

is a communication attempt by a salesperson or sales team to pitch a product or service to a potential customer, typically over the phone or in person.

Relationship Marketing

A marketing strategy focused on building long-term relationships with customers to foster loyalty and repeat business rather than focusing solely on short-term sales.