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If income is $50,000, consumption is $47,500, and saving is $2,500, then the marginal propensity to consume is:
Servicing
The process of maintaining or repairing a product or fulfilling the terms of a service agreement.
Personal Selling Process
Sales activities occurring before, during, and after the sale itself, consisting of six stages: (1) prospecting, (2) preapproach, (3) approach, (4) presentation, (5) close, and (6) follow-up.
Approach Stage
The phase in a project or process where strategies are developed and plans are made to tackle objectives or problems.
Preapproach
The stage in the sales process where initial research about a potential customer is conducted before making contact.
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