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Goryan [66]
2 years ago
5

Describe personal selling. Personal selling is direct communication between a sales representative and one or more prospective b

uyers in an attempt to influence each other in a purchase situation. Broadly speaking, all businesspeople use personal selling to promote themselves and their ideas. Personal selling offers several advantages over other forms of promotion. Personal selling allows salespeople to thoroughly explain and demonstrate a product. Salespeople have the flexibility to tailor a sales proposal to the needs and preferences of individual customers. Personal selling is more efficient than other forms of promotion because salespeople target qualified prospects and avoid wasting efforts on unlikely buyers. Personal selling affords greater managerial control over promotion costs. Finally, personal selling is the most effective method of closing a sale and producing satisfied customers.
5.1 Discuss the role of personal selling in promoting products. What advantages does personal selling offer over other forms of promotion?

5.2 What are the major advantages of personal selling to the company selling a product? What are the advantages to the person or company buying the product?
Business
1 answer:
ELEN [110]2 years ago
7 0

Explanation:

<u>5.1 Discuss the role of personal selling in promoting products. What advantages does personal selling offer over other forms of promotion?</u>

Personal selling is a traditional sales method that consists of a more personalized service and a more efficient product promotion compared to other forms of promotion. This is due to the fact that, in a personal sale, there is the direct influence of the seller to explain the functionalities and characteristics of a product, which is usually done using sales and negotiation techniques that directly influence the buyer to feel the need for the product that is being promoted. The advantages of personal selling as opposed to other types of promotion, is the possibility of reducing the time and effort of purchase, since in this type of sale, the seller goes to the customer to offer the product.

<u></u>

<u>5.2 What are the major advantages of personal selling to the company selling a product? What are the advantages to the person or company buying the product?</u>

The biggest advantages of personal selling for the company that sells a product is the greater possibility of having a closed purchase, since the potential sales are made with your potential customers. There is also a decrease with other types of product promotion, which can be costly, such as advertising an advertisement on television, and which may not generate the expected goal of increasing product sales.

The advantages for the person or company that buys the product is the possibility of knowing and seeing the functionality of the product before purchasing and the possibility of negotiating and providing meaningful feedback, which can influence the seller to make the sales proposal more flexible by making it more attractive to the customer. Personal selling also creates value for the customer, as the service is personalized, based on their profile, characteristics, desires and needs.

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Sale price $60 $100 Variable costs $35 $60 Machine hours required for 1 vase 1 2 Total fixed costs are $600,000, and Rose Incorp
MrRissso [65]

Answer:

a) CM1 = 25

CM2 = 40

b) CMmh1 = 25

CMmh2 = 20

c) 25,000 units of Vase 1 and 12,500 units of Vase 2

d) OI = $ 525,000

Explanation:

a. Determine the contribution margin per unit for each type of vase.

The contribution margin per unit is equal to the difference between the sale price and the variable cost per unit:

CM_1=P_1-VC_1=60-35=25\\\\\\CM_2=P_2-VC_2=100-60=40

b. Determine the contribution margin per machine hour for each type of vase.

For the Vase 1, the number of machine hours per unit is 1. So the contribution margin per machine hour for Vase 1 is equal to CM1=$25.

For the Vase 2, the number of machine hours per unit is 2. Then, the contribution margin per machine hour for Vase 2 is equal to CM2=$40/2=$20.

c. Determine the number of units of each style of vase that Rose Incorporated should produce to maximize operating income.

There are 3 restrictions:

- Max 25,000 units of Vase 1

- Max 25,000 units of Vase 2

- 50,000 hours of machine hour

As the contribution margin per machine hour is higher for the Vase 1, so we start producing the more we can of Vase 1. The limit is 25,000 units.

Then, we are left with 25,000 machine hours available for Vase 2. We can produce 25,000/2=12,500 units, which is under the market constraint.

d. What is the dollar amount of the maximum operating income as calculated in C above

The operating income for the mix proposed in C is:

OI=CM_1*q_1+CM_2*q_2-FC\\\\OI=25*25,000+40*12,500-600,000\\\\OI=625,000+500,000-600,000\\\\OI=525,000

4 0
3 years ago
In Clemens v. McNamee, major league pitcher Roger Clemens sued McNamee, a trainer, over McNamee's statements to investigators an
schepotkina [342]

The court decided in favor of the McNamee because he did not have sufficient minimum contacts to establish personal jurisdiction, since Texas was not the focal point of the story.  

Explanation:

The court gave his final decision in favor of McNamee. Clement has not received decision in favor of his though he suffered from distress and damage of his reputation in Texas. McNamee illustrated that he gave steroids to Clements who was an Texas citizen

Mc Namee was a citizen of New York. He did not have sufficient minimum contacts to establish personal jurisdiction. McNamee was a trainer. According to the national magazine there was no such detail of defamation was provided.

5 0
2 years ago
A company had average total assets of $932,000. Its gross sales were $1,097,000 and its net sales were $965,000. The company's t
Alborosie

Answer:

Total asset turnover is 1.035.

Explanation:

The total assets that the company had = $932000

Gross sales = $1097000

Net sales = $965000

The total asset turnover can be determined by dividing the net sales with average total assets. Here, the average total assets are $932000 and net sales is $965,000.  

Total asset turnover = net sales / average total assets

= 965000 / 932000

=1.035

3 0
2 years ago
Describe at least four ways you can take money out of a checking account. ​
Klio2033 [76]

Answer:

yes

Explanation:

You, as the account owner, can also withdraw or remove funds from the account. You can withdraw by automatic electronic transfer, check, ATM card or debit card. There are many ways these days to withdraw money from your accounts.

7 0
3 years ago
Today, you invest a lump sum amount in an equity fund that provides an 8% annual return. You would like to have $11,700 in 6 yea
V125BC [204]

Answer:

$7,372.99

Explanation:

Discounting is the method used to determine the present worth of a future amount which compounding is used to determine the future worth of a present amount. The relationship between both is such that;

Fv = Pv(1 + r)^n

where

Fv = future amount

Pv = present amount

r = interest rate and

n = time

The future amount = $11,700

time = 6 years

rate = 8%

$11,700 = Pv(1 + 0.08)^6

Pv = $11,700(1 + 0.08)^-6

Pv = $7,372.99

You need to deposit $7,372.99 today to reach your $11,700 goal in 6 years.

8 0
3 years ago
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