Personal Selling Refers to

question 292

Multiple Choice

Personal selling refers to

• A) a customer-directed flow of communications, often in a face-to-face encounter, designed to promote a product with the purpose of making a sale.
• B) an individualized communications program specifically designed for a single customer because the item being sold is unique to that person.
• C) a mass selling approach that has been tailored to meet the unique needs of a target market based on age, gender, ethnicity, or occupation.
• D) the two-way flow of communication between a buyer and a seller, often in a face-to-face encounter, designed to influence a person's or group's purchase decision.
• E) any spoken (rather than visual or print) attempt to promote a product for the purpose of making a sale.

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Definitions:

Marginal Revenue

The increase in revenue resulting from the sale of one additional unit of a product or service.

Sales Price

The amount of money a buyer pays to purchase a product or service.

Monopolist

A market participant that is the sole provider of a product or service, possessing significant market power to set prices.

Economic Profits

The gap between the total income a business generates and all of its expenditures, taking into account both direct and hidden costs.