What Does the Price/value Formula Indicates to a Sales Person

question 62

Multiple Choice

What does the price/value formula indicates to a sales person?

• A) use it to smoke out stalling objections
• B) given price is "fixed," the only way to decrease costs is to increase the value the product provides the prospect
• C) to handle objections in proper order, beginning with hidden objections and proceeding to price objections
• D) that to a seller price and cost are identical
• E) avoid at all cost discussing price unless your product is the price-leader

Explain the significance and effects of full warranties under the Magnuson-Moss Act.

Identify circumstances under which an implied warranty of fitness for a particular purpose is granted.

Understand the statutory requirements for written warranties and their implications for sellers and buyers.

Understand the basic premises of contract law and how it differs from tort law.

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Definitions:

Personal Knowing

The knowledge that comes from personal experience and introspection, contributing to an individual's understanding of self and others.

Empirical Knowing

Knowledge gained through observation, experience, or experiment rather than through theory or pure logic.

Ethical Knowing

The aspect of nursing knowledge that consists of understanding moral principles and ethical dilemmas, allowing nurses to deliver care that respects patients' values and dignity.

Emancipatory Knowing

Knowledge that enables understanding of the social, political, and economic forces affecting people’s lives, fostering empowerment and liberation.