When There Are Many Substitute Products, a Company Can Create

question 23

True/False

When there are many substitute products, a company can create a competitive advantage by increasing fees.

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Definitions:

Act Professionally

Conducting oneself in a manner that is ethical, responsible, and respectful within a professional environment, often adhering to the standards and expectations of the profession.

T-Account Close

The process of transferring the balances of temporary accounts to a permanent account at the end of an accounting period to prepare for a new period.

Benjamin Franklin Close

A sales technique that encourages a customer to make a decision by listing pros and cons of purchasing a product or service, akin to Benjamin Franklin's decision-making method.

Assumptive Close

A sales technique where the salesperson assumes that the prospect has decided to purchase and moves forward with finalizing the sale.