The process of learning as much as possible about the prospect
Pre-Approach
100
What are two objectives of Advertising?
Shift demand
Change Elasticity
100
If All Assets were sold to pay off all liabilities the result would be
Owners Equity
200
This ratio compares lender financing to owner financing (smaller values imply less debt)
debt to equity ratio
200
Name two items that would be classified as current Liabilities
What is Accounts payable
Notes Payable
200
the most important attribute of a salesperson
Listen
200
The four components of the Marketing Mix
Product Price Place Promotion
200
Which financial ratio measures liquidity?
Current Ratio
300
This ratio compare current assets to current liabilities (values greater than 1 are preferred) larger values imply greater liquidity
Current Ratio
300
If assets are $10 and Liabilities are $5 What is Owners Equity?
Assets-Liabilites=OE
10-5=5
300
Confirming the amount of inventory and the agreed upon price is one way to accomplish this step in the personal selling process
Close
300
The three components of a good TV advertisement
hook target emotion
300
The term that describes the ability to meet financial obligations at they come due without disturbing normal revenue generating activities
Liquidity
400
Margin of safety in a dollar value
Working Capital
400
Name 3 examples of non-current Assets
Buildings
Land
Machinery & Equipment
400
This step in the personal selling process involves identifying good customers and screening out poor ones by looking at factors such as financial ability, volume of business and needs
Qualifying
400
name two factors that affect advertising effectiveness
% of population reached
% that understands the message
% that has awareness
% with a favorable attitude
% of first time buyers
400
This concept measure the degree to which liabilities are backed up by assets
Solvency
500
Suppose you calculate a debt to asset ratio of 70% what does this tell you about the company
70% of the assets are owed to lenders, lower values are preferred, at the very least we can conclude this firm has a lot of debt
500
If Total (Owners) equity is 5 dollars and contributed capital is 3 dollars what is the value for retained earnings
2 dollars (RE=Equity-CC)
500
This part of the personal selling process is where the salesperson meets and greets the buyer and gets the relationship off to a good start
Approach
500
Name the 5 stages in the product lifecycle
Product
Price
Place
Promotion
500
The product that has the largest advertising budget when compared as a percent of sales