The Use of Short-Term Incentives to Encourage the Immediate Purchase

question 115

Multiple Choice

The use of short-term incentives to encourage the immediate purchase or sale of a product or service is called ________.

• A) indirect marketing
• B) sales promotion
• C) personal selling
• D) public relations
• E) advertising

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Definitions:

Personal Guarantees

A commitment by an individual to repay a debt if the original borrower defaults, often required in business loans.

Joint and Severable

A legal term indicating that all parties in a contract are equally responsible for fulfilling the terms of the agreement, and each can be held fully accountable.

Interest Rates

The cost of borrowing money or the return on investment, expressed as a percentage of the principal, that lenders charge or pay over a specific period.

Premium

An amount paid in addition to a standard price, often for a higher quality or more expedited service.