The Selling Formula Approach

question 260

Multiple Choice

The selling formula approach:

• A) starts with a prepared presentation outline, discovers each customer's specific needs, and then leads the customer through some logical steps to a final close.
• B) uses the same sales presentation with every potential customer.
• C) usually requires a more skilled salesperson than the consultative selling approach.
• D) is a problem-solving approach in which the customer and salesperson work together to satisfy the customer's needs.
• E) None of these are correct for the selling formula approach.

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Definitions:

Liabilities

Financial obligations or debts that a company owes to others, arising during the course of its operations.

Goods or Services

Products or activities provided by a business to customers in exchange for payment.

Revenue Recognition Principle

Revenues are recognized when the company transfers promised goods or service to customers in the amount it expects to receive.

Transferred

Transferred refers to the process of moving assets, responsibilities, or rights from one entity to another.