Compared to advertising, what are the major advantages and limitations of personal selling?
What will be an ideal response?
Personal selling has both advantages and limitations when compared with advertising. Advertising is general communication aimed at a relatively large target audience, whereas personal selling involves more specific communication directed at one or several individuals. Reaching one person through personal selling costs considerably more than through advertising, but personal selling efforts often have greater impact on customers. Personal selling also provides immediate feedback, allowing marketers to adjust their messages to improve communication. Such interaction helps them determine and respond to customers' information needs.
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A loss on disposal of a plant asset occurs if the cash proceeds received from the asset sale is less than the asset's book value.
Answer the following statement true (T) or false (F)
Simple random sampling has been used to obtain a sample of size 60 from a population of size 700 . The sample mean was 500 with a standard deviation of 60
a. Estimate the standard error of the mean. b. Develop an approximate 95% confidence interval for the population mean.
Which of the following types of businesses might have an operating cycle longer than one year?
A. Commercial airplane manufacturer. B. Clothing retailer. C. Ski resort. D. Wheat farmer. E. Florist.
Which of the following is not an example of an internal failure cost? a. Process troubleshooting
b. Equipment calibration. c. Re-inspection following detection of a defect. d. Production downtime caused by defects. e. Scrap and process waste.