Chan Sold a Business to Scott and in the Process

question 181

True/False

Chan sold a business to Scott and in the process they valued the good will of the business at $50,000. In the sale contract, it was agreed that this amount would be paid by Scott giving Chan 15% of the business profits until it was paid. This creates a partnership between them.

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Definitions:

Marketing Promotions

Activities and techniques designed to enhance visibility, stimulate demand, and differentiate a product or service to boost sales.

Emotional Appeals

Marketing or advertising strategies that aim to elicit an emotional response from the audience to influence their attitudes or behaviors.

Sex, Humour, Fear

Advertising strategies aimed at capturing attention and eliciting responses by leveraging basic human emotions and reactions.

Cognitive Responses

The thoughts that arise in a person's mind in reaction to communications or stimuli, which can influence attitudes and behaviors.