The Strategy of Convincing a Customer to Buy a Higher-Priced

question 232

Multiple Choice

The strategy of convincing a customer to buy a higher-priced item than he or she had originally intended is called:

• A)cross-selling.
• B)value-added selling.
• C)selling up.
• D)bait-and-switch selling.

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Definitions:

Adverse Selection

A situation in markets where buyers or sellers have information that the other party does not, leading to suboptimal market outcomes.

Mortgage Lender

A financial institution or individual that provides funds to borrowers for the purpose of purchasing real estate, which is secured by the property being bought.

Default

Failure to fulfill a financial obligation, such as not making scheduled loan payments, leading to potential legal consequences or credit score impact.

Shirking

The act of avoiding or evading work and responsibilities, often in employment contexts.