Some Salespeople Make the Mistake of Considering Anyone a Prospect

question 107

True/False

Some salespeople make the mistake of considering anyone a prospect without first finding out whether he or she really provides the opportunity to make a sale.

Understand the significance of financial considerations, including costs and benefits, in utilizing 3PL and 4PL services.

Understand the common drivers and facilitators of successful supply chain relationships.

Differentiate among a vendor, a partner, and a strategic alliance within the supply chain context.

Identify and describe the basic types of Third-Party Logistics (3PL) firms.

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Definitions:

Force-Coercion Strategy

A change management approach that involves the use of authority, threats, or pressure to achieve desired organizational changes.

Deadweight Loss

Deadweight loss represents an economic inefficiency that happens when a good or service doesn't reach or cannot reach its equilibrium point.

Price Elasticity

An economic measure indicating how the quantity demanded of a product changes in response to a change in the price of that product.

Equilibrium Quantity

The equilibrium quantity is the quantity of goods or services that is supplied and demanded at the equilibrium price, where supply equals demand.