Discuss the Various Approaches That Can Be Used to Formulate

question 40

Essay

Discuss the various approaches that can be used to formulate a compensation package.

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Definitions:

Cold Canvass Prospecting

The technique of approaching potential customers without prior contact or appointment; often used to generate new leads.

Prospect

A potential customer or client who has been identified as someone who might be interested in a company's product or service.

Competing Products

Products that are in direct competition with each other, usually within the same market category, offering similar features or benefits.