Marketing 325 Final
Fill- In- The- Blank: Attt, "The Platinum Rule" is at the heart of the style- flexing sales strategy. What is The Platinum Rule?
"Do unto others as they want done unto them."
Managerial personnel, professionals, entrepreneurs, and marketing personnel and customer service representatives make up what the book identifies as:
Knowledge workers
In his presentation, Randy Donalson said a salesperson needs to know/ understand a number of entities in order to be successful. Which of the following is NOT one of the four entities a salesperson needs to know and understand according to Randy? A. customers B. industry C. competition D. Company E. Randy said a salesperson needs to know/ understand all of these
Randy said a salesperson needs to know/ understand all of these
"I'll tell you what," said Tim. "I'll buy all my building supplies from your company if you'll make sure your people rent generators from my firm." Tim is proposing: A. receivership B. reciprocity C. a tie-in sale D. price bartering E. discriminatory
Reciprocity
Attt, this is something that you want the customer to do during the sales presentation. In class I called it a sales call objective. You text book defines it as a:
action objective
Which of the following statements concerning creating a presentation that adds value is FALSE, according to the text and class discussion? A. the use of humor, in moderation, is valuable in a presentation B. appeal primarily to one or two senses to prevent overload on the part of the customer C. use proof devices to demonstrate buyer benefits D. cover one idea at a time and use an appropriate amount of detail E. quantify the solution
appeal primarily to one or two senses to prevent overload on the part of the customer
Attt, the Value-Added Product- Selling Model is made up of four different types of "potential" products. Which of the following is NOT one of these 4 types of "potential" products? A. Value- added product B. augmented product C. potential product D. generic product E. expected product
augmented product
The capacity for monitoring our own filing and those of others, for motivating ourselves and for managing emotions well in ourselves and in our relationships is known as
emotional intelligence
Attt, the connectors between your messages and the internal emotions of the prospect are known as:
emotional links
Attt, the final stage int he typical buying process is:
implementation
A group that consists of the category of people that you see your belonging to, and with which you habitually compare yourself, is known as a:
reference group
"A potential customer who has been recommended by a current customer or by someone who is familiar with the product." is known as a:
referral
Fill- in- the-blank: as discussed in class and identified in the text, the greatest influence on the ethical standards of an organization come from:
the top of the organization
The set of benefits and values the salesperson configures to meet and exceed customers' specific needs is known as:
the value proposition
Fill-in- the blank: Define as we did in class, gatekeepers:
they are secretaries/ assistants to the person you are wanting to do business and depending on how they are treated may or may not result in a meeting with who you are requesting
A sales process that most effectively matches the needs of the value- conscious buyer who is primarily interested in price and convenience:
transactional selling
Fill- In- The- Blank: The text identifies 3 "power tools" which help customers get their way when dealing with salespeople. Identify these 3 "power tools":
1. instant comprehensive info from the internet about all products sold online and offline 2. immense choice in in every segment of commerce- a wide variety of options and prices in the world. 3. Real- time price comparison at the moment and location of purchase on increasingly advanced technology
The text identifies four major developments that have affected the development of relationship selling in the information economy. Which of the following is NOT one of these major developments identified in the text? A. major advances in information technology and electronic commerce B. strategic resource is information C. business is defined by customer relationships D. a broader concept of what constitutes a "product" in todays economy E. Sales success depends on creating and adding value
A broader concept of what constitutes a "product" in todays economy
The text identifies and discusses a number of "rules of etiquette" that should be followed in sales in order to help build strong relationships. Which of the following statements about etiquette is FALSE, as identified in the text? A. turn off your cell phone ringer any time you are with customer B. never call someone by their first name until the third meeting- at that time is it OK C. always be on time- if you're on time, in reality you are late D. when you take a customer to lunch, do not discuss business before the meal is ordered unless the clients initiates the subject E. avoid offensive comments or stories
B. never call someone by their first name until the third meeting- at that time is it OK
In class, I provided 5 criteria a goal must meet in order to be a "good" goal. Which of the following is NOT one of those five criteria? A. realistic B. measurable C. contain a time frame D. be written and or communicated to others E. be competitive with the goals of others
Be competitive with the goals of others
A software program that records in one place the extensive information necessary to understand a customer and their needs and expectations, thereby helping salespeople be more effective in matching the benefits of the product they are selling to the needs of the prospect or customer is known as a:
Customer Relations Management (CRM) Program
The Communication Style Model, as identified in the text, results in 4 different communication "styles". Which of the following is NOT one of the communication styles discussed in the text? A. emotive style B. supportive style C. directive style D. expressive style E. refelective style
Expressive Style
The " Buyer Resolution Theory" is based on the customer asking and answering 5 questions before they are ready to make a purchase. Which of the following is NOT one of these 5 questions? A. How much should I buy? B. What is a fair price? C. Where should I buy? D. When should I buy? E. according the the text, all of these are questions the customer must answer before they are ready to make a purchase
How much should I buy?
In Three- Dimensional Product Solutions Model, which of the following is NOT one of the three dimensions? A. product dimension B. industry dimension C. salesperson dimension D. company dimension
Industry dimension
The basic ingredient of character that is exhibited when you achieve congruence between what you know, what lousy, and what you do is known as:
Integrity
Fill- in- the-blank: the principle that holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired products to fulfill the needs and wants is known:
Marketing Concept
The principle that holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired products to fulfill the needs and wants is known as the:
Marketing concept
Fill- In- The- Blank: In his presentation, Randy Donaldson identified 3 things he said were the most important information found in a resume. What are the 3 pieces of information Randy said were the most important pieces of information in a resume?
Name, phone number, email
In class, I said that I buy all of my pharmaceutical supplies (prescriptions, OTC remedies, bandages, etc.) from Springhill Pharmacy because I have been doing business with them for almost 20 years and they have always been good to me and done things that others would not do, when necessary. In this situation, my primary buying motive is which type of buying motive?
Patronage Buying Motive
Fill- In- The- Blank: Those decisions and activities intended to create and maintain a certain concept of the product in the the customers' mind is what the book defines as
Positioning
Which of the following quotes did I say was reflective of my teaching philosophy for this and other classes?
Prepare the child for the path, not the path for the child.
Which of the following is NOT one of the components (or basic parts) of a firms promotional efforts, as identified in the text? A. Advertising B. Publicity C. Product Delivery D. Public relations E. personal selling
Product Delivery
Recognition and security are major needs common to virtually all people. Sales (as a career) provides for both of these needs. Recognition is provided with petitions, sales leaders awards, and other programs that involve success in selling. Security i provided because successful salespeople are always in demand during both good and bad economic times. The provision of recognition and security insoles is known as:
Psychic income
In class, I said one of the components of the firm's promotional effort discussed in class did not really belong in the promotional efforts area, but we included it anyway. Which of the following component did I say did not, technically, fit into the promotional effort discussion? A. Personal Selling B. Sales Promotion C. Direct Response Marketing D. Publicity e. Public Relations
Publicity
Which of the following is NOT one of the objectives we seek to accomplish when setting goals? A. provide motivation B. provide direction C. improve performance D. maintain focus E. simplify the selling process
Simplify the selling process
Which of the following is NOT one of the criteria a "good" goal must meet? A. Realistic B. Simplistic C. Contain a time frame D. be written and or communicated to others E. Measurable
Simplistic
Fill-in- the blank: The text identifies 3 practices a salesperson can follow in order to improve their active listening skills. Identify these 3 practices:
Take notes, paraphrase back to the customer, pay attention/ be attentive
Joe is a salesperson for Proctor and Gamble. He sells products to wholesalers and retailers, but not to the ultimate consumer. Joe would most accurately be classified as a: A. Direct Salesperson B. missionary salesperson C. trade salesperson D. industrial salesperson E. Retail salesperson
Trade Salesperson
The text identifies a number of areas of nonverbal communication which influence the way we are viewed by others/ Which of the following is NOT discussed in the text as on of the influences in nonverbal communication? A. entrance and carriage B. eye contact C. facial expressions D. voice tone and accent E. shaking hands
Voice tone and accent
In class we said all the salespeople will lose customers at times. Which of the following is NOT one of the reasons a salesperson may lose a customer over from time-to- time? A. the customer moves outside of the salespersons territory B. a change in the product makes it irrelevant for the customer C. the failure or merger of the customer's business D. a loyal purchasing agent leaves their position E. sales are lost to the competition
a change in the product makes it irrelevant for the customer
"A carefully conceived plan that results in understanding the customers perceptions and maximizing customer satisfactions and responsiveness." is the book's definition of:
a customer strategy
Attt, salespeople often attempt to estimate the sales potential account before allocating time and effort in order to determine which potential accounts they should call on first. They attempt determine the sales potential of an account by conducting an:
account analysis
"Altering sales behavior in response to the actions or responses of the prospect in order to improve communications with the customer." is how the text (with a bit of modification by me) defined as:
adaptive selling
The process of altering sales behavior during a customer interaction in order to improve communication relates to a salespersons ability to collect information regarding the customer's needs and responded appropriately. This process is known as :
adaptive selling
In discussing the impact appearance has on relationships, the text identifies four key words (or concepts) which should govern our decisions as to how to dress. Which of the following is NOT one of these four keys words (concepts)? A. quality B. visual integrity C. simplicity D. appropriateness E. brand
brand
Are the principles and standards that guide behavior in the world of business:
business ethics
I am a salesperson for XYZ corporation. My biggest competitor is ABC corporation. In talking to one of my customers, I let it slip that I have heard that ABC is having financial difficulties and is looking to pull out of out area. I know this is not true, but this customer is goof friends with a business I have been trying to sell to for 3 years. I am sure that this customer will tell that prospect I am trying to, which will increase the likelihood that I will be able to finally get this prospect to buy my product. In a legal sense, I am guilt of which of the following? A. reciprocity B. product disparagement C. insider trading D. business slander E. business libel
business slander
A cross functional team of decision makers who often represent several different departments, in which each team member is likely to have some expertise needed in a particular purchase decision, is called a:
buying center
The text identifies seven different types of approaches. Which of the following is NOT one of these seven types of approaches identified in the text? A. conciliatory approach B. customer benefit approach C. agenda approach D. premium approach E. product demonstration approach
conciliatory approach
The text identifies three objectives of the approach step in the sales process. Which of the following is NOT one of these objectives? A. confirm the basic needs of the prospect to be fulfilled B. establish rapport C. transition to the next stage in the sales process D. capture the persons full attention
confirm the basic needs of the prospect to be fulfilled
Fill- in- the-blank:In most states, a customer has a period of time (it varies by state) in which they can void a contract to purchase goods and services when purchased under a salesperson's persuasive influence. Many of these laws are designed to deal specifically with sales made in the consumer's home. These provisions are known as:
cooling off law
Attt, the sum total of beliefs, values, knowledge, ethnic customs, and objects that people use to adapt to their environment all combine to create or form a:
culture
"Mr. Vaquez, I would like the opportunity to learn about your accounts receivable and accounts payable procedures. We may be able to develop a customized program that will significantly improve your cash flow." Is an example used in the text as an example of which type of approach? A. conciliatory approach B. customer benefit approach C. survey approach D. question approach E. curiosity approach
customer benefit approach
The strategic/ consultative selling model features five steps'ach of which is built on 3 prescriptions. The 1st in the model is:
developing a personal selling philosophy
Attt, the communication style model is based on 2 important dimensions of human behavior. These 2 dimensions are:
dominance and sociability
The communication style model discussed in the book is based on 2 important dimensions. Those 2 dimensions are:
dominance and sociability
Attt, an inner force that makes the salesperson want and need to make a sale is known as:
ego drive
The book talks about a 30 second message that summarizes what you want people to know about you, your company, and your product line. The book says this should be practiced in front of a mirror to improve its effectiveness. This is known as:
elevator presentation
Attt, people who have the ability to imagine themselves in someone else's position and understand what the person is feeling also have the ability to understand to subtleties of human interaction. These people are known as:
empathizers
In Maslow's Hierarchy of Needs, we need to feel worthy in the eyes of others. Salespeople who custom fit a value-added solution that meets and exceeds their clients' needs providing a feeling of competency to buyers in complex buying situations is acting at what level of Maslow's model? A. self- actualization needs B. approval needs C. social needs D. appreciation needs E. esteem needs
esteem needs
The text identifies and discusses 3 "zones" within each quadrant of the Communication Style Model. The outer most zone is characterized by a high degree of intensity and rigidity. This zone is known as the:
excess
In Value- Added Product- Selling Model, the "product" which represents the customers' minimal purchase expectations is known as the:
expected product
The text identifies three things related to the Ferris Wheel model that can improve the quality and results of the prospecting process. Which of the following is NOT one of these 3 things? A. increase the number of accounts who board the ferris wheel B. improve the quality of the prospects who join the ferris wheel C. have a "drop out" spot and if the prospects has not surpassed that in an allotted time they are dropped from the "ferris wheel" D. shorten the sales cycle by quickly determining which prospects you should recalling on
have a "drop out" spot and if the prospects has not surpassed that in an allotted time they are dropped from the "ferris wheel"
In his presentation Randy Donaldson identified a number of responsibilities recruiters have in attending career fairs. Which of the following is NOT one of the responsibilities of recruiters, according to Randy's presentation? A. fill a need/ find people B. identify other companies looking for people C. talk to applicants D. represent the company E. all of the above are responsibilities of recruiters in attending career fairs
identify other companies looking for people
Which if the following is NOT one of the benefits (value added for both the customer and the salesperson) identified in the text when talking about using the consultative selling approach? A. more closed sales B. increased repeat business and referrals C. increased customer satisfaction D. fewer order cancellations and returns E. increased profit margins for both the customer and the salesperson
increased profit margins for both the customer and the salesperson
Attt, the development of a personal selling philosophy involves 3 "prescriptions". Which of the following is NOT one of these 3 prescriptions? A. become a problem solver/ partner B. know your product thoroughly and completely C. Value personal selling D. adopt the marketing concept
know your product thoroughly and completely
The text talks about few common discounts that may be provided to when using transactional selling tactics. These discounts are designed to help reduce the price to the customer who wants to participate in a transactional selling situation. Which if the following is NOT one of the discounts discussed in the text? A. trade or functional discounts B. quantity discounts C. promotional allowances D. loyalty discounts E. seasonal discounts
loyalty discounts
Attt, the ability to visualize an object, concept, or action not actually present is known as:
mental imagery
A salesperson who does not actually try to sell the product but tries to convince an influencer to require/recommend that others buy/ use their products (i.e. pharmaceutical salespeople, textbook salespeople) is known as a:
missionary salesperson
I work for a manufacturer of automobiles. We have redesigned the look of the rear view mirror for the latest model year. The mechanism operating the mirror is the same as previous models, but we want to make the design more aerodynamic. We also want to consider whether to use metal or plastic for the new design. As a result, I talk to our supplier about the changes and also call a couple of additional suppliers to see the cost differential for the design and the different materials. I need to make a decision and select a supplier in the next three or four days. I am following which type of buying decision? A. new task buy B. Variety seeking decision C. complex decision making D. straight rebuy E. modified rebuy
modified rebuy
Attt, the first step in the typical buying process is: A. information search B. evaluation of potential solutions C. needs awareness D. evoked set analysis E. specification development
needs awareness
The book says every salesperson should develop a healthy attitude toward your competition. Which of the following is NOT one of the specific recommendations made in the text concerning addressing your competition in a sales presentation? A. never criticize the competition B. be prepared to add value to the competition's proposal C. never admit your competitors product is better than your product in any way D. In most cases, do not refer to the competition during the sale presentation E. never discuss the competition unless you have all of your facts straight
never admit your competitors product is better than your product in any way
Which of the following is NOT one of the recommendations made by the text for making appointments vis the telephone? A. plan in advance what you will say B. state the purpose of your call and tell how the potential client can benefit from meeting with you C. show respect for the prospects time by telling the person how much time the appointment may take D. offer the potential client two or three potential meeting times that work well for you E. politely identify yourself and the company you represent
offer the potential client two or three potential meeting times that work well for you
The text identified four types of needs discovery questions. Which of the following is NOT one of these four types of questions? A. survey questions B. probing questions C. need satisfaction questions D. confirmation questions E. opinion questions
opinion questions
"A collection of beliefs, behaviors, and work patterns held in common by people employed by a specific firm." is the book's definition of:
organizational culture
The text identifies 4 groups that influence our buying decisions. Which of the following is NOT one of these four groups? A. roles B. orientation C. social class D. culture and subculture e. reference groups
orientations
Attt, a strategically developed, long-term relationship that solves the customer's problems is known as:
partnering
Fill- in- the- blank: What is personal selling?
personal selling is when you have strong strategy and a foundation of relationship skills to help a customer choose what product best suits their needs
according to Maslow's Hierarchy of Needs, the most basic needs, the ones which are of initial concern to an individual, are needs known as:
physiological needs
In the portfolio model, this type of account is attractive only if competitive weaknesses can be overcome. It requires careful planning and execution and deserves some effort because of its potential. This type of account is known as a
problem account
Fill-in- the blank: At Color Tile, when a customer was interested in a particular pattern of floor tile and was having trouble visualizing what the floor would look like when it was done, I would frequently get down on the floor in a relatively open area of the store and lay out nine to sixteen tiles as they would appear on the floor in the customer's home. This was an example of which concept discussed in the text?
product demonstration
According to report in Sales & Marketing Management, the number one characteristic of salespeople who are able to build trust with their customers is:
product knowledge
Which of the following is NOT one of the components of the marketing mix, as identified in the text? A. Production B. Price C. Place or Distribution D. Product E. promotion
production
The text talks about using persuasive vocabulary and they identify a number of words which are proven to be effective. They identify four words which research shows to be most important of all in selling and advertising. Which of the following is NOT one of these four words? A. you B. benefits C. sale D. advantage E. new
sale
Attt, consultative salesperson use a four step selling process. Which of the following is NOT one of the four steps in the consultative selling process identified in the text? A. need discovery B. servicing the sale C. sales profitability analysis D. election of the solution E. a need- satisfaction presentation
sales profitability analysis
Attt, in the past few decades, sales training has been expanded on four fronts. Which of the following is NOT one of these four "fronts"? A. selling simulation programs B. colleges and universities C. corporate- sponsored training D. training provided by commercial vendors E. certification programs
selling simulation programs
Society's relatively permanent and ordered divisions whose members share similar values, interests, and behavior is the book's definition of a
social class
The process whereby a salesperson uncovers and clarifies a customer's problem, works with the customer to create a vision of how things could be better, and then develops a plan for implementing the vision is known as:
solution selling
Attt, the process that matches the firms resources to its market opportunities is known as:
strategic planning
The deliberate attempt to adapt to ones communication style to accommodate the needs of the other person is what the book calls:
style flexing
Attt, techniques, practices, or methods you use when you are face-to-face with a customer are known as:
tactics
The text uses a "portfolio model" to identify four types of accounts a salesperson ay encounter as a part of their job. Which of the following is NOT one of these four types of accounts? A. strategic accounts B. Hold accounts C. targeted accounts D. problem accounts E. drag accounts
targeted accounts
According to the class discussion and the powerpoint slides, the MOST IMPORTANT factor in establishing an ethical sales climate is? A. establishing a corporate code of ethics B. the behavior of corporate leaders C. Encouraging and rewarding whistle blowing D. establishing control systems E. following industry standards
the behavior of corporate leaders
Attt, the nature and stage in a products life cycle is determined by several factors. Which of the following is NOT one of the factors that determines a product's stage in its life cycle? A. changes in technology, fashion, or demographics B. the products perceived advantage over available substations C. the length of time the product has been on the market with no substantial changes/ improvements D. competitive activity, including pricing, substitute product development and improvement, and effectiveness of competing advertising and promotion E. the product benefits and the importance of the needs it fulfills
the length of time the product has been on the market with no substantial changes/ improvements
Attt, the term "product" should be broadly interpreted to include all the of the following EXCEPT: A. issues B. information C. the selling environment D. service E. ideas
the selling environment
The text discusses, and we talked in class about, how much time should be spent on the needs discovery. Although I don't necessarily agree with all the of them, which of the following is NOT one of the factors determining the time allocated to needs discovery? A. The selling price of the product B. the sophistication/ complexity of the product C. the strength of the relationship between the salesperson and the customer/ potential client D. the customer's knowledge level E. the amount of time available
the strength of the relationship between the salesperson and the customer/ potential client
Channel intermediaries, such as wholesalers or retailers, often perform credit, storage, or transportation services within the distribution channel. The discounts given to them to cover the cost of providing these services are known as:
trade or functional discounts
Which of the following is NOT one of the standard rules of good business letter writing addressed in the text and in class? A. the visual format of a business letter B. proper use of white space C. Proper punctuation D. proper grammar and spelling E. use a lot of personal pronouns (I, we, me) to make the letter more personal
use a lot of personal pronouns (I, we, me) to make the letter more personal
Attt, "a series of creative improvements within the sales process that enhance the customer experience." Is the textbook's definition of:
value- added selling
In the text, the networking model identifies a number of area where it would be beneficial for a salesperson to spend time networking. Which of the following is NOT one of these areas? A. within your company B. within your industry C. within any social organizations to which you belong D. outside of your industry E. the text says all of these are areas where a salesperson should spend time networking
within any social organizations to which you belong
