Tim Has Just Finished Compiling a List of Potential Customers

question 149

Multiple Choice

Tim has just finished compiling a list of potential customers and evaluating their ability, willingness, and authority to buy. He knows his next step in the personal selling process is to

• A) approach.
• B) preapproach.
• C) make the presentation.
• D) prospect.
• E) overcome objections.

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Definitions:

Monthly Income

The total amount of earnings received every month from work, investments, benefits, and other sources.

Inferior Good

A type of good for which demand decreases as the income of consumers increases, opposite to normal goods where demand increases with rising income.

Product X

A placeholder term for an unspecified or hypothetical product used in discussions or analyses.

Income Elasticity of Demand

A measure of how much the quantity demanded of a good changes in response to a change in consumer income.