Knowing the Industry Requires Active Research by the Salesperson

question 54

Multiple Choice

Knowing the industry requires active research by the salesperson.Which of the following is not a way to learn about the industry when conducting a needs assessment?

• A) Attending industry and trade association meetings
• B) Reading articles published in industry and trade journals.
• C) Keeping track of legislation and regulation that affect the industry
• D) Being aware of product alternatives from competition
• E) Memorizing a product's pricing and billing procedures

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Definitions:

Secured Loan

A loan that requires collateral as security for the lender.

Collateral

Assets that a borrower offers to a lender to secure a loan, which can be seized if the borrower fails to repay the loan.

SBA Loan

A loan made to a small business through a commercial bank, of which a portion is guaranteed by the Small Business Administration.

Commercial Bank

A financial institution that provides services such as accepting deposits, providing business loans, and offering basic investment products.