Which statement below provides the most accurate description of the difference between an agentand a broker?O Agents represent final buyers while brokers represent marketing intermediaries.Agents represent one manufacturer in a large sales area, while brokers represent several differentmanufacturers in a smaller area.Agents develop a long-term relationship with the people they represent, while brokers are usually hired on attemporary basis.Agents take title to the goods they help distribute, while brokers never assume ownership of the productsthey distribute.Agents and brokers are equivalent and do not have any noticeable differences.

In the world of business and trade both agents and brokers play critical roles in arranging…

Answered: Which statement below provides the most…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Similar questions

How would you best describe a situation where Ms. Dalal who is a seller and Ms. Asma (a buyer) both committed their time and money to expand their business and benefit from it on a long-term basis? a. Strategic partnership b. Affiliate selling relationship c. Functional relationship d. Transactional relationship
A monopoly is a firm that is the only seller of a good or service that does not have A) a patent. B) a close complement. C) a barrier to entry. D) a close substitute.
__________ REFERS TO PARTNERSHIP AND COLLABORATION BETWEEN BUSINESS COMPETITORS FOR MUTUALLY BENEFICIAL RESULTS. a.Joint Ventures b.Strategic Alliances c.Coopetition d.Buyer-Supplier
An autonomous certifying body is being considered. For this organization to fulfill its job, reliable parts have to be submitted by sellers. Discuss the pros and cons of having such a certifying agency.
Your organization has a web site used for advertising your products or services around the world. The site is used only for disseminating information about your organization and its mission. What requirements (if any) should be in place regarding confidentiality, integrity, and availability?
1. A vendor buy-back contract that guarantees to buy back product not sold by the retailer is an example of solution selling which let the supplier overcome price-cutting pressures. A) true B) false 2. Omnichannel marketing is a method to increase the level of commitment. A) true B) false
Which explains why many firms have adopted the team selling approach to service large, complex accounts? A) Customers prefer dealing with many salespeople rather than one salesperson. B) A group of salespeople assigned to one account is cost effective for corporations. C) Salespeople prefer working in groups because of the opportunity for flex hours and job sharing. D) Products have become too complicated for one salesperson to support.
Co-branding is ________. A) the process of selling a famous brand to a third party B) an agreement to produce and market another company's product C) a legal protection given to owners for exclusive rights to the use of brands D) a method of testing and evaluating a new product E) a partnership
Choose relevant theoretical negotiations concepts that must be discussed in the training to provide the salespeople with the skills needed to deal with the problems.
A. Sellers grant credit to customers: a. During periods of high interest rates to reduce the overall cost of capital (WACC) and to increase return on assets b. When granting credit is a low-cost addition to the value proposition relative to other alternatives c. When the seller does not want new customers d. When the seller wants to increase its marketing costs B. Which from the following list is NOT a primary cost of granting credit to customers: a. The cost of managing credit and credit collections b. Some customers will not pay c. The cost of carrying the receivables d. Advertising costs C. Matching the credit period to the buyer’s cash cycle time makes purchasing from the seller: a. Less attractive for the buyer b. Increases the elasticity of buyer demand c. Does not impact attractiveness for the buyer d. More attractive for the buyer
Analyze the benefits and drawbacks of an anticipatory standard vs a reactive one.
Define the terms and describe the typical duties as well as the differences between a Managing Broker and a Real Estate broker? For example, what can they do or not do with each license?

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