AutomatedFry Inc. is the leading manufacturer of ventless deep fryers. It has developed a new high-capacity fryer
To identify the prospective clients for its latest product, it sends out brochures to thousands of food-service managers along with a detachable card that the managers can use to request more information. Based on this information, AutomatedFry Inc. is involved in the _____ step of the selling process.
a. needs assessment
b. lead generation
c. sales presentation
d. knowledge management
ANSWER: b
AutomatedFry Inc. is involved in lead generation. Lead generation or prospecting is the identification of those firms and people most likely to buy the seller's offerings.
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The product was developed by gathering focus groups of mothers and asking them what they need and what they wish normal planners offered them. This method of product development most likely:
A) is costly and inefficient B) is performed by the marketing department C) subscribes to the marketing concept D) reduces the barriers to purchasing E) is a method developed in the last decade
The production budgets are used to prepare which of the following budgets?
A) Operating expenses B) Direct materials purchases, direct labor cost, factory overhead cost C) Sales in dollars D) Sales in units
Organizations sometimes place too much emphasis on the techniques and methods of training and not enough on first defining what the employee should learn in relation to desired job behaviors.
Answer the following statement true (T) or false (F)
The question of when revenue should be recognized on the income statement according to GAAP is addressed by the:
A. Revenue recognition principle. B. Going-concern assumption. C. Measurement (Cost) principle. D. Business entity assumption. E. Objectivity principle.