Principles of Marketing Final Exam

a simple definition of a leader is someone who

an individual with the ability to guide or direct the actions of others

which of the following is often the last step when answering an objection?

answer objections honestly and continue selling

which of the following is a true statement about leadership?

anyone can be a leader

the purpose of communicating with customers is to

attract customers interest

A salesperson who tells a customer that a particular product will be easy to keep clean has presented a

benefit

what is one factor that will determine how much a customer is willing to pay for a good or service?

buying power

which marketing function involves determining where products will be sold?

channel management

which closing technique is being used in the following situation: customer: "this bikes feels too light for long-distance riding." salesperson: "that's exactly what you need-your speed will be much faster, and you won't be as tired."

closing an objection

which of the following customer statements is a product objection?

color, size, model, brand preference, product quality, product features, service/maintenance required

which of the following is the best description of the marketing mix?

combination of the four elements of marketing product, price, place, and promotion

which of the following is a marketing activity?

communicating with customers

salespeople should use feature-benefit charts to help them

develop meaningful selling sentences

the closing technique considered the simplest and most natural of closes is the

direct close

if a company wants to market its product to a targeted group of consumers and get specific, measurable results, it should consider using

direct marketing

a leader with emotional intelligence is good at managing

emotions within themselves in others

when a group confronts a conflict, it's a good idea to

establish boundaries and guidelines

Prices set higher than the equilibrium price will result in

excess supply

to explain a product's quality to customers, a salesperson should stress the product's

features

when two people in the same department disagree about how to allocate their budget, they're experiencing a(n)

functional conflict

To select the best strategy available to them, marketers should consider

how the marketing concept applies to their sitaution

service marketers have a tough job because they have to market products that are

intangible

which of the following types of customers frequently raise objections?

interested customers

the reason that the sales presentation is a crucial part of selling is that it is used to

it gets the customer involved, creates desire, and shows proof

leadership is important when things are going well for a business because

it keeps everyone on task and lead change when necessary

it is a good idea to try to involve the customer in the product demonstration because this

it lets them try out the product

Billie's team was 20 minutes late starting the meeting because she didn't show up at work on time. Which time-management principle does she need to learn?

learn to be on time

of the following, which is a strategy for the goal of increasing this year's website sales by 9% over last year's sales?

let people know the web address

The best source of specific information on a product's construction and materials is

manufacturer's brochures and publications

Gathering, accessing, synthesizing, evaluating, and disseminating data for use in making business decisions is the responsibility of

marketing-information management

often, people can creatively resolve a conflict by

mediation

when a salesperson tells a story about people who have solved a problem by purchasing the good or service, the salesperson is using a ______ close

narrative

after determining customer needs/wants, salesperson should be ready to

offer solutions

Dave has a sales job selling very expensive cars. Each day, he wears a nice suit and tie to work. Which characteristic of a successful salesperson does Dave display?

personal appearance

Michael is interacting with a customer over the phone. Which of the aspect of selling does this illustrate?

personalized communication

which part of the sales presentation often uses action to back up the salesperson's claims for the product?

product demonstration

which marketing function involves creating the correct product mix for a business?

product service management

Two retail stores are striving to offer products for the lowest prices and best values in town. What role of selling in our economy does this illustrate?

promotes competition

Identify the marketing function illustrated in the following situation: Martha wants a winter coat and sees a style she likes in a magazine advertisement.

promotion

which marketing career is usually in charge of writing press releases?

public relations

To discover customer needs/wants, the salesperson should be skilled at

questioning and listening

the marketing function which involves the matching and satisfying of customer wants and needs with available goods and services is

selling

which of the following is an example of a product's being sold directly to the user for ultimate consumption?

selling roses

which of the following steps in the time-management process comes first?

set goals

which of the following is an example of a product's being sold to an organization for use in producing other goods?

sewing machine

a true statement about the steps of the selling process is that they

should be performed consecutively

which of the following is an example of digital marketing?

social media, online, on phones digital marketing specialist/manager, web marketer, content strategist, online marketing manager

what closing technique can be used effectively when a product is in very limited supply?

standing-room only

which of the following is an important characteristic of marketing tactics?

staying in line with your plan

a goal can be evaluated to determine its

success

what are the incentives in our economy that encourage producers to change and reallocate their resources?

supply and demand

when two coworkers cannot resolve a conflict, the first step to take is to

take a break

when a customer asks for a specific product, the salesperson should show

that specific product

in the marketing concept, whose point of view matters the most?

the customer

the point during the sales presentation that a sales close occurs is when

the customer makes the decision to buy

the emphasis put on each phase of the selling process varies according to

the product being sold

human capital refers to

the sum of a person's knowledge, skills, health, and values

what type of objection are customer using when they say they want to "shop around"?

time

which of the following is a true statement about time management?

time itself is not under our control, but our actions are

overall, what does marketing allow us to do?

to have new products, live our daily lives

what is the purpose of restating a customer's objection?

to show you respect their feelings

cleaning your office means you are organizing

true

determine whether the following statement is true or false: both retail and industrial salespeople must discover their customers' needs/wants

true

in order to prepare a feature-benefit chart, a salesperson must know

what features to look for, where to get the information, and what to do with the information

in conducting a product demonstration, when should the salesperson use unusual or dramatic actions?

when making live demonstrations to prove facts

in overall sense, where does marketing occur?

wherever customers are present

who gets the goods and services produced in our economy?

whoever is willing and able to buy

which of the following is an example of advertising?

writing, copy, or designing images

during a disagreement, Jerome gives his friend what s/he wants. Jerome's reaction is called the

yielding response mode

what is the greatest number of top-priority activities you should schedule for yourself in one day?

3

which of the following is an example of a change in the relative price ratio when the original price of red apples is $0.60 per pound and the original price of green apples is $0.80 per pound

3:4