Homework Help is Here – Start Your Trial Now!
Business
Marketing
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
See similar textbooks
icon
Related questions
Question
**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.
Expert Solution
steps

Step by step

Solved in 3 steps

SEE SOLUTIONCheck out a sample Q&A here
Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Principles Of Marketing
Principles Of Marketing
Marketing
ISBN:
9780134492513
Author:
Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:
Pearson Higher Education,
Marketing
Marketing
Marketing
ISBN:
9781259924040
Author:
Roger A. Kerin, Steven W. Hartley
Publisher:
McGraw-Hill Education
Foundations of Business (MindTap Course List)
Foundations of Business (MindTap Course List)
Marketing
ISBN:
9781337386920
Author:
William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:
Cengage Learning
Marketing: An Introduction (13th Edition)
Marketing: An Introduction (13th Edition)
Marketing
ISBN:
9780134149530
Author:
Gary Armstrong, Philip Kotler
Publisher:
PEARSON
MKTG 12:STUDENT ED.-TEXT
MKTG 12:STUDENT ED.-TEXT
Marketing
ISBN:
9781337407595
Author:
Lamb
Publisher:
Cengage
Contemporary Marketing
Contemporary Marketing
Marketing
ISBN:
9780357033777
Author:
Louis E. Boone, David L. Kurtz
Publisher:
Cengage Learning
SEE MORE TEXTBOOKS