The Primary Responsibility of Order Takers Is to

question 266

Multiple Choice

The primary responsibility of order takers is to

• A) "preach" the benefits of a new product or service to a customer rather than close the sale.
• B) build market share in a sales territory.
• C) convince a customer from a competitor to switch to the firm's product or brand.
• D) preserve ongoing relationships with existing customers and maintain sales.
• E) create a sense of goodwill not only to the brand but also to the entire product mix of the firm.

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Definitions:

Inventory Method

The approach a business uses to value its inventory and determine the cost of goods sold, such as FIFO (First-In, First-Out) or LIFO (Last-In, First-Out).

Gross Profit Ratio

A financial metric used to assess a company’s financial health by dividing gross profit by net sales.

Lost Inventory

Inventory that is unaccounted for due to theft, damage, or error, leading to discrepancies in stock records.

Gross Profit Method

The Gross Profit Method estimates the cost of goods sold and the ending inventory value by applying the company's average gross profit percentage to its net sales.