What is one major advantage of sole proprietorship?
100
Easy to create and maintain
What is a major advantage of general partnership?
100
Non personal, mostly paid promotions often using mass media to deliver the message. The variations of advertising include; TV, Newspaper, Magazine, Internet and Outdoor advertising ( billboard, posters, buses, etc.)
What is advertising?
100
Prospecting / initial contact
What is a part to a sale?
100
Reaching agreement with the prospect to exchange the product or service outlined in the proposal for some price
What is gaining commitment ?
200
Business and owner are legally the same entity
What is a major advantage of sole proprietorship
200
No fees associated with creation of the business entity
What is a major advantage of general partnership?
200
This type of promotion uses third-party sources and particularly the news media, to offer a favorable mention of the marketer's company or product without direct payment to the publisher of the information.
What is Public Relations:
200
s an exhibition organized so that companies in a specific industry can showcase and demonstrate their latest products, service, study activities of rivals and examine recent market trends and opportunities.
What is a trade fair/case?
200
Discovering what is important to the prospect about their needs as they relate to what you might sell to them
What is the presentation part of a sale?
300
No fees associated with the creation of the business entity
What is a major advantage of sole proprietorship
300
Owners may report their share of net business losses on personal income taxes
What is a major advantage of general partnership ?
300
Involves the use of special short-term techniques, often in the form of incentives, to encourage customers to respond or undertake some activity. ( Sales flyers/ price discounts, Coupons, Samples/giveaways, special events and point of sale)
What is Sales Promotion
300
Contacting your leads to set up the opportunity to have a sales conversation
What is the explanation of Prospecting / initial contact
step to a sale?
300
Discovering what is important to the prospect about their needs as they relate to what you might sell to them
What is Need assessment
400
Owner is personally liable for any debts, judgments or other liabilities of the business
What is a major disadvantage of sole proprietorship
400
Owners must pay personal income taxes for all net business profits
What is a major disadvantage of general partnership?
400
Involved personal contact between company rep and those who make purchase decisions (e.g. consumers, manager or company buyer). Selling occurs face-to-face or via telephone and also now online via video conferencing or text chat.
What is Personal Selling?
400
Determining if the person you are talking to is able to and likely to buy from you
What is identifying and cross questioning part of a sale?
400
Owners of the business enjoy limited liability for the business' debts, judgments and other liabilities
What is a main advantage to a S corporation?
500
Owner must pay personal income taxes for all net business profits
What is a major disadvantage of sole proprietorship
500
All owners are jointly and personally liable for any debts, judgments or other liabilities of the business
What is a major advantage of general partnership?
500
encompasses a wide variety of marketing materials, including brochures, catalogs, postcards, newsletters and sales letters. Major corporations know that direct-mail advertising is one of the most effective and profitable ways to reach out to new and existing clients.
What is Direct mail
500
Questions, comments or concerns that the prospect has about your solution that – if left unanswered – may prevent the prospect from completing a purchase with you
What is meeting objections?
500
More expensive to establish than a sole proprietorship or partnership