Many Small Firms Cannot Afford Extensive Training Programs

question 45

Multiple Choice

Many small firms cannot afford extensive training programs.Instead,smaller firms:

• A)Hire new recruits and see which ones succeed.
• B)Use more promotion and less selling.
• C)Offer above-average compensation to attract experienced salespeople.
• D)Send their sales trainees to customer's sales training programs.

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Definitions:

Brand Recognition

Brand recognition is the extent to which consumers can correctly identify a brand through its visual indicators like logos, colors, packaging, or advertising, without the brand name being mentioned.

Viral Marketing

Marketing techniques that use social networks to produce increases in brand awareness or sales through self-replicating viral processes.

Economies of Scope

Cost advantages that a business experiences when it increases the variety of products or services it offers.

Customer Value Chain

A series of steps a company takes to deliver a product or service to the customer, focusing on adding value at each stage to meet customer needs.