"Prospecting

question 78

Multiple Choice

"Prospecting:"

• A) involves following a few leads in the target market.
• B) should require a sales rep to spend the same amount of time with each prospect.
• C) refers to selection of the firm's target market.
• D) should use a system for allocating time to potential customers based on their potential.
• E) None of these alternatives is correct.

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Definitions:

Marginal Utility

The additional pleasure a consumer experiences from acquiring another unit of a product or service.

Marginal Utility Per Dollar

The additional utility gained from spending one more dollar on a good or service.

Diminishing Marginal Utility

The principle stating that as a person consumes more of a good or service, the satisfaction gained from each additional unit decreases.

Utility Maximizer

An economic concept referring to consumers who select goods or services in a way that maximizes their total satisfaction or utility.