Ag marketing Final

Which of the following is NOT a true statement?

An example of routine decision making is making the decision to buy land or property

Which step in the sales process is used to attract potential clients and customers?

Approaching the customer

Which method of closing a sale consistently asks customers questions which require yes for an answer?

Ascending close

Which of the following methods brings the objection back to the customer as a selling point?

Boomerang method

Which of the following may occur within a showroom or during a trade show?

Business-to-business selling

Which of the following is true about business goals as mentioned in the presentation?

Direct the business in the right direction

Which of the following is used when there has been little or no previous experience with a product?

Extensive decision making

Which of the following is the examination of the forces of supply and demand in a commodity market?

Fundamental analysis

Which of the following are contractual agreements made between two parties through a regulated futures exchange?

Futures

Which of the following are typically producers and consumers who buy and sell futures contracts seeking "to lock in" future prices for commodities which are essential to their business operations?

Hedgers

Which of the following is NOT a true statement? 2

If sellers are scarce, buyers will likely buy at a lower price

Which of the following is NOT a benefit of contracts to agriculture producers?

Increase income risks of price and production variability

Which of the following is used when items have been previously purchased but not on a regular basis?

Limited decision making

Which of the following is used when the perceived risk is low?

Routine decision making

Which approach should be used when a customer is in a hurry or making a routine purchase?

Service approach

Which of the following are traders with the goal of profiting on future price moves?

Speculators

Which method of closing a sale encourages the client to buy based on limited supply or special promotion?

Standing room only close

Which of the following happens when a product is produced in larger quantities than it is demanded?

Surplus

Which of the following is NOT a goal of agricultural sales?

Tarnishing product reputation

Which of the following describes the process of selling over the phone?

Telemarketing

Recommending larger quantities to a customer is known as which of the following?

Up-selling

Which of the following is matching the characteristics of a product to meet a customer's wants or needs?

Using the feature-benefit selling

Which method of closing a sale encourages a customer to make a decision between two items?

Which close

Which of the following is a reward to an employee based on actual performance?

Commission

Which of the following are reasons for not buying or making a purchase with a particular salesperson?

Excuses

What percent of production and marketing contracts govern the value of U.S. agricultural production?

36 percent

Which of the following is the largest futures exchange in the United States by volume?

Chicago Mercantile Exchange

Which of the following is met when the quantity of a product matches the demand of the product?

Equilibrium

Which of the following is a growing industry in agriculture?

Online sales

Which of the following is the most common type of sales within the agricultural industry?

Personal selling