If a Salesperson Learns He Has Lost a Customer to a Competitor

question 14

True/False

If a salesperson learns he has lost a customer to a competitor, he should visit the account as soon as possible and make sure the client is made aware of any weakness associated with the competitor's product.This action often leads to the customer staying with the original company.

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Definitions:

Opportunity Cost

The value of the next best alternative foregone as a result of making a decision.

Specialize

The process of focusing effort and resources on a narrow area of activity or field of study to gain efficiency or expertise.

Production Possibilities

A graphical representation showing the maximum quantity of goods and services that can be produced using limited resources to the fullest extent.

Opportunity Cost

The act of losing potential gains available through other choices upon selecting one option.