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
