Advanced Bionics Is a Global Leader in the Development of Implantable,high-Tech

question 45

Multiple Choice

Advanced Bionics is a global leader in the development of implantable,high-tech neurostimulation devices used to treat deafness and chronic pain.Just two-and-a- half years after introducing its new stimulators,the firm is doing $200 million in domestic sales.
How has Advanced Bionics been so successful? Its success can be attributed to its outstanding products and to three aspects of its sales approach.First,Advanced Bionics hired the right talent for its sales force.Companies tend to use experienced sales reps-often hired away from competing companies-to sell new medical devices.This can be very expensive since experienced reps generally expect as much as $200,000 in annual income.So when Advanced Bionics brought its medical device to market,it hired people with no experience selling medical devices and turned them into sales reps.Hiring inexperienced salespeople created some problems,however,and the company experienced high turnover rates during its first two years in operation.Second,Advanced Bionics provided salespeople with a rigorous training program.Third,Advanced Bionics allowed salespeople to plan their own activities while managers monitored their progress and pushed them to improve.In short,the company has been able to succeed by selecting good salespeople,training them well,and managing them carefully
-Refer to Advanced Bionics.Personal selling is important for Advanced Bionics because _____.

• A) its products are standardized
• B) its buyers are not very technologically savvy
• C) the complexity of its products has decreased
• D) its buyers are extremely dispersed
• E) its products are high value

---

Definitions:

Amortization Schedule

An amortization schedule is a table detailing each periodic payment on an amortizing loan, illustrating how the principal amount is reduced over time.

Effective Rate

The actual interest rate an individual pays on a loan or earns on an investment, accounting for compounding.

Monthly Rate

The interest or return generated by an investment or loan over a one-month period, often annualized for comparison purposes.

Loan Payment Schedule

A detailed plan showing the amount and timing of payments required to repay a loan, including both principal and interest components.