The acronym ABCS refers to the four:

A. stages in the typical sales career path.
B. personality characteristics of sales managers.
C. types of nonfinancial rewards salespeople desire.
D. main elements of the customer relationship process.
E. steps in the sales process.


Answer: D

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A segmentation approach to the market is more efficient than a mass marketing approach because:

A) money is spent only on those whom the manager has determined are potential customers. B) it creates entry-barriers. C) customers are homogeneous. D) production costs for standardized products are minimal in comparison to customized products.

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Once the firm knows that a potential market exists, it needs to do all of the following except

A. set up a foreign subsidiary. B. choose between exporting directly or indirectly. C. find and establish overseas distribution if it decides to set up its own export operation. D. consider seeking assistance from a trade specialist if it wishes to engage in indirect exporting.

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Answer the following statement(s) true (T) or false (F)

1. Markov processes use historical probabilities. 2. All entries in a matrix of transition probabilities sum to 1. 3. All Markov chain transition matrices have the same number of rows as columns. 4. A unique matrix of transition probabilities should be developed for each customer. 5. The probability that a system is in state 2 in the fifth period is ?5(2).

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Assignment. On August 8, 1978, the plaintiff, Shirley Petry, entered into a contract with the defendant, Cosmopolitan Spa International, Inc The contract was for a spa membership that was to include "processing, program counseling, and facilities

usage." The written contract contained an exculpatory clause. The pertinent part of the clause stated, "Member fully understands and agrees that in participating in one or more of the courses, or using the facilities maintained by Cosmopolitan, there is the possibility of accidental or other physical injury. Member further agrees to assume the risk of such injury and further agrees to indemnify Cosmopolitan from any and all liability to Cosmopolitan by either the Member or third party as the result of the use by the Member of the facilities and instructions as offered by Cosmopolitan." On or around January 1, 1980, Cosmopolitan sold the spa to Holiday Spa of Tennessee, Inc On February 25, 1980, the plaintiff, Shirley Petry, injured her back when she sat on an exercise machine and it collapsed under her. She brought suit against both Cosmopolitan and Holiday for damages for personal injuries resulting from the defendants' negligence in properly maintaining the exercise machine. The defendants claimed that the exculpatory clause negated their liability. Petry argued that Holiday could not use the excul-patory clause as a defense because it was part of a contract for personal services, and therefore the contract was not assignable. What will the court decide? Discuss fully.

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