Developing a List of Potential Customers Is Called Prospecting

question 39

True/False

Developing a list of potential customers is called prospecting.

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Definitions:

Product Cost

The total expense incurred in manufacturing or acquiring a product, including materials, labor, and overhead.

Delivery Time

The period it takes for a product or service to be delivered to a customer after an order has been placed.

Implied Demand Uncertainty

The unpredictability in demand faced by a company due to factors like customer preferences, market conditions, and technological changes, indirectly inferred through observed behaviors or trends.

Demand Uncertainty

The difficulty in accurately predicting customer demand, affecting inventory management, production planning, and capacity utilization.