MARK 3337 (Chapter 1-5)

Information technology aids salespeople in creating and maintaining relationships with customers.

true

One of the earliest formal statements indicating corporate interest in the marketing concept came from a General Electric Executive in the 1950s.

true

The goal of strategic alliances is to achieve a market place advantage by teaming up with another company whose products fit well with your own.

true

The presentation strategy includes a reminder that outstanding services should be the overriding theme of every sales presentation

true

Typical salespeople spend about 30 percent of their time in actual face-to-face selling situations

true

Which of the following statements would NOT be an application of the marketing concept?

A) Let's speed up production and get these products to customers faster by eliminating the field test.*** B) Let's show these product designs to some prospective buyers for their reactions. C) Let's examine our points of distribution to see if we're reaching the market effectively. D) Let's do some research to see which colors the consumers prefer. E) Let's ask customers which products they used most heavily.

Which of the following statements accurately describes value-added selling?

A) The value added by salespeople today is increasingly derived from tangibles. B) The value added by salespeople today is increasingly derived from intangibles.*** C) Value-added selling surfaced during the evolution of strategic selling. D) Value-added selling would not be an appropriate strategy in international markets. E) Value-added selling is only appropriate for services, not products.

When UPS was first established, founder Jim Casey described the firm's focus as follows:

A) To become a leader in international shipping B) To become the world's most profitable company C) To render perfect service to our stores and their customers*** D) To become the world's most efficient shipping company E) To become the fastest shipper in the world

The development of a personal selling philosophy involves all of the following EXCEPT:

A) a full acceptance of the marketing concept B) a full appreciation of the tenets of the free enterprise system*** C) developing an appreciation for the expanding role of personal selling in our competitive national and international markets D) assuming the role of a problem-solver in helping customers make complex buying decisions E) assuming the role of a partner in helping customers make complex buying decisions

The evolution of strategic selling can be traced to:

A) a need to use fewer salespeople to sell more products B) the growing demand for less expensive products C) the need for salespeople to master sales force automation practices D) new levels of competition E) several trends that resulted in a more complex selling environment***

Maintaining high ethical standards:

A) can strengthen your relationship with a customer*** B) should be secondary to closing a sale C) is rare in the world of sales D) will lead to lost revenue for a company E) often puts you in conflict with your customers

The four broad strategic areas of the Strategic/Consultative Selling Model are:

A) connected to each other B) in conflict with each other C) independent of each other D) not independent of each other*** E) identical to each other

CRM software is used to hold information about all of the following EXCEPT:

A) customers B) competitors*** C) prospects D) coworkers E) suppliers

For a strategic alliance to be successful, the first step is for a company to:

A) enlist legal assistance to make sure its interests are protected B) talk to the customer to discover what its needs are C) assemble a team of product experts D) define the ethical guidelines that will apply to the alliance E) find out as much about the proposed partner as possible***

A partnership is beneficial for both parties because the successive sales are:

A) equal to the initial sales B) greater than the initial or repeat sales*** C) not necessarily guaranteed D) a function of the price of the product E) transactional in nature

The effective exchange of information is the foundation of most economic transactions. This is known as:

A) exchange theory B) personal selling C) the value-added economy D) the information economy*** E) the post-consumer economy

Account managers from Campbell's help add value for their culinary customers by:

A) giving them cheaper prices B) selling more products than the competition C) helping them improve their menus*** D) providing various payment options E) expediting shipments

the term product should be broadly interpreted to encompass:

A) information, services, ideas, and issues*** B) information and items C) tangible items and issues D) all tangible items E) all intangible items

The customer strategy always takes into consideration:

A) maintaining a close partnership B) what the customer needs*** C) the profit margins of the product D) the relationship between the selling partners E) the company's sales quotas

The highest form of partnering is the:

A) marketing alliance B) value-added alliance C) partnering alliance D) customer partnership alliance E) strategic selling alliance***

The process of building and maintaining strong customer relationships by providing customer value is called:

A) marketing concept B) value-added selling C) customer relationship management*** D) personal sales philosophy E) customer strategy

Achieving a marketplace advantage by teaming up with another company whose products or services fit well with your own is referred to as a:

A) marketing strategy B) customer strategy alliance C) sales strategy D) strategic selling alliance*** E) successive sales alliance

A major development that has helped the information economy is:

A) new demands for improved customer service B) recognition that customers want more information C) major advances in information technology*** D) the need for more strategic alliances E) diversification of products

All of the following are elements of the marketing mix EXCEPT:

A) personnel*** B) product C) promotion D) place E) price

Eric Villa obtained a license to sell real estate and then accepted a sales position with a local Century 21 agency. To prepare for this new position, he purchased and read a research report entitled "Buying Habits of Today's Home Buyers." Mr. Villa is attempting to develop a:

A) presentation strategy B) product strategy C) customer strategy*** D) relationship strategy E) price strategy

The ultimate goal of the "marketing concept" is:

A) product diversification B) customer satisfaction*** C) brand loyalty D) rising profit margins E) efficiency of production

Preparing objectives for the sales presentation and a plan to reach those objectives is the:

A) product strategy B) customer strategy C) presentation strategy*** D) relationship strategy E) marketing strategy

In a market characterized by vigorous competition, look-alike products and customer loyalty that depends on quality relationships as well as quality products, the salesperson should fully utilize the:

A) product strategy B) customer strategy C) presentation strategy D) relationship strategy*** E) marketing strategy

Customers want quality products and:

A) quality relationships* B) low prices C) free shipping D) custom installation E) little contact

Sharon Wiley is a sales representative employed by a leading producer of pharmaceuticals used in veterinary medicine. Recently she attended a university-sponsored seminar that focused on new research findings in selected areas of veterinary medicine. Ms. Wiley is attempting to develop a:

A) relationship strategy B) customer strategy C) service strategy D) presentation strategy E) product strategy***

All of the following are broad strategic areas of the Strategic/Consultative Selling Model EXCEPT:

A) relationship strategy B) product strategy C) customer strategy D) service strategy*** E) presentation strategy

A well-thought-out plan for establishing, building, and maintaining quality relationships is a:

A) relationship strategy*** B) customer strategy C) product strategy D) presentation strategy E) personal selling philosophy

The promotion element of a marketing program can be subdivided into the areas of:

A) sales, promotion, and advertising B) market research, personnel, and product publicity C) product research, product design, product production, and product publicity D) public relations, place, personal selling, and personnel E) sales promotion, public relations, personal selling, and advertising***

When a marketer decides to adopt partnering, emphasis will be placed on:

A) selling strategies B) product development C) selling tactics D) the customer*** E) the salesperson

All of the following are steps to creating and delivering the customer value model EXCEPT:

A) understanding the customer's value needs B) creating the value proposition C) communicating the value proposition D) delivering the value proposition E) presenting the value proposition***

List the three prescriptions for developing a personal selling philosophy.

Adopt marketing concept, value personal selling, and assume role of problem solver.

________ selling can be defined as a series of creative improvements within the sales process that enhance the customer experience.

Value-added

Peter Drucker stated that "the ________ defines the business."

customer

A ________ ________ is a carefully conceived plan that will result in maximum responsiveness to customers

customer strategy

A "strategy" can be best described as collection of techniques, practices, or methods you use when you are face to face with a customer.

false

Consultative-style selling practices have become popular because they can easily mastered.

false

The four major strategies that form the strategic consultative selling model are independent of one another.

false

Today we use the computer more for data crunching and less for connecting.

false

the partnering concept, as an enhancement of personal selling, became very popular in the 1970s.

false

A ________ ________ is a well thought-out plan for establishing, building and maintaining quality selling relationships.

relationship strategy

________ ________ evolved because of broader and more diverse product lines, demand for specific customized solutions, and more competition.

strategic selling

Business firms vary in terms of how strongly they support the marketing concept.

true

Consultive-style selling, which emerged in the late 1960s and early 1970s, is an extension of the marketing concept.

true

Value-added selling can be defined as a series of creative improvements within the sales process that enhance the customer experience.

true

When measured by either the number of people employed or expenses as a percentage of sales, personal selling is often the major promotional method use by American businesses.

true

a major reason for the demise of the product solution is the growing number of look-alike products.

true