Shane Realizes That Price Should Not Be the Focal Point

question 17

Multiple Choice

Shane realizes that price should not be the focal point in a sale.He feels the best time to bring up the issue of price is:

• A)after the customer has initiated it.
• B)after the customer has raised some objections.
• C)after discussing buyer benefits.
• D)after you have discussed competitors products.
• E)as early as possible to get it off the table.

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Definitions:

Car Insurance

A contract between a vehicle owner and an insurance company, providing financial protection against physical damage or bodily injury from traffic collisions.

Asymmetric Information

An instance where in a transaction, one entity has higher or more detailed information than another.

Principal-Agent Problem

A dilemma in economics arising when one party (the agent) is able to make decisions and/or take actions on behalf of, or that impact, another party (the principal).

Moral-Hazard Problem

A situation where one party engages in risky behavior knowing that it is protected against the consequences, often because another party bears the cost of those actions.