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5. Which of the following best describes a "sales funnel"?

5. Which of the following best describes a "sales funnel"?

Principles Of Marketing
Principles Of Marketing
17th Edition
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Kotler, Philip, Armstrong, Gary (gary M.)
Chapter1: Marketing: Creating Customer Value And Engagement
Section: Chapter Questions
Problem 1.1DQ
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**Question 5: Understanding Sales Funnels** **Which of the following best describes a "sales funnel"?** **Answer Choices:** 1. **A sales funnel is the process after a sale is closed where the customer receives the product and begins using it.** 2. **A process whereby sales decrease over time as if they are going into a funnel.** 3. **A process of drawing in people who might be good purchasers of your product by first finding out which are interested and have money to spend, then eventually leading them to purchase your product.** 4. **A sales funnel is used by department stores during key sale weekends. In a sales funnel, each day the price is reduced until the product is finally available at the lowest possible price.** **Explanation:** A sales funnel is a conceptual model that represents the journey potential customers take from the first awareness of a product or service to the final purchase decision. The funnel metaphor is used to illustrate the typically narrowing path—from many leads at the top to fewer conversions at the bottom. The most appropriate description from the provided choices is: **A process of drawing in people who might be good purchasers of your product by first finding out which are interested and have money to spend, then eventually leading them to purchase your product.** This accurately captures the essence of the sales funnel, which includes stages like awareness, interest, decision, and action.
Transcribed Image Text:**Question 5: Understanding Sales Funnels** **Which of the following best describes a "sales funnel"?** **Answer Choices:** 1. **A sales funnel is the process after a sale is closed where the customer receives the product and begins using it.** 2. **A process whereby sales decrease over time as if they are going into a funnel.** 3. **A process of drawing in people who might be good purchasers of your product by first finding out which are interested and have money to spend, then eventually leading them to purchase your product.** 4. **A sales funnel is used by department stores during key sale weekends. In a sales funnel, each day the price is reduced until the product is finally available at the lowest possible price.** **Explanation:** A sales funnel is a conceptual model that represents the journey potential customers take from the first awareness of a product or service to the final purchase decision. The funnel metaphor is used to illustrate the typically narrowing path—from many leads at the top to fewer conversions at the bottom. The most appropriate description from the provided choices is: **A process of drawing in people who might be good purchasers of your product by first finding out which are interested and have money to spend, then eventually leading them to purchase your product.** This accurately captures the essence of the sales funnel, which includes stages like awareness, interest, decision, and action.
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