Final answer:
Sales quotas and targets are not information gathered during the knowledge acquisition stage of the selling process. This stage focuses on customer needs, competitor analysis, and product specifics to inform and tailor sales approaches.
Step-by-step explanation:
During the knowledge acquisition stage of the selling process, a salesperson should gather all the following information, except sales quotas and targets. Understanding customer needs and preferences, competitor analysis, and product features and benefits are crucial for tailoring the sales approach and offering value to the customer. Gathering information from customers and other stakeholders, finding expert information, and doing a root cause analysis can help in understanding the market and customer needs.
In competitive markets, buyers and sellers act independently and compete with each other, yet both must be well-informed of the market conditions. Since every purchase is based on a belief about the satisfaction a good or service will provide, having accurate and clear information is vital for preventing buyer's regret and encouraging future purchases. Sellers can reassure buyers faced with imperfect information by offering guarantees, providing detailed product information, demonstrations, and testimonials, and facilitating easy return policies.