If the Prospect Legitimately Offers the "No Money" Objection, the Salesperson

question 106

True/False

If the prospect legitimately offers the "no money" objection, the salesperson should give up trying to sell to him or her.

Analyze and calculate the rate of mark-down necessary to achieve desired profit margins or break-even points.

Apply knowledge of cost, selling price, and profit to evaluate business decisions.

Interpret and apply terms of payment to ensure discounts are maximized.

Calculate the rate of markup on selling price versus markup on cost.

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Definitions:

Price Reduction

The act of lowering the selling price of goods or services, often to stimulate demand, clear out inventory, or respond to market competition.

Target Costing

A pricing method that involves determining the desired cost for a product to ensure profitability at its anticipated selling price.

Desired Return

The profit or return that an investor or company aims to achieve on an investment or project.

Investment

The dedication of assets to achieve an increase in value over time, including purchases of securities, real estate, and other items with the expectation of generating future income or profit.