MK 330 Exam 1

Which of the following statements are true of product presentations?

-A product demonstration can help get a prospect interested in and excited about the product. -Over half of all potential customers want to see a product demonstration during the first sales call. -Before conducting a product demonstration, you must be sure that the product will work as promised.

Which of the following are potential benefits of using customer success stories? There is more than one correct answer.

-Customer success stories focus on the experiences of a real client, thus making the depiction of product features and benefits seem more authentic. -Clearly communicating how your product or service helped solve a problem for a customer makes your offerings more relatable and tangible to others. -By using a story-like format, customer success stories attract stronger interest and better engage prospective buyers. -Case studies help make clear that salespeople and their firm have a clear understanding

To which of the following questions must a salesperson answer "yes" to qualify a lead as a prospect?

-Does the lead have a buying approach that aligns with our selling approach? -Does the lead have a need for our product or service? -Does the lead have the potential needed to justify an organizational investment? -Does the lead have the authority to purchase our product or service? -Does the lead have the ability to purchase our product or service?

From the following list, choose all the pieces of advice that will impress your possible customers with your good presentation skills.

-Move deliberately from one side of the room to the other as you speak, turning slightly to face each buyer as you speak. -Face the audience directly. -Use the front of the room as much as possible. -Do not simply read from PowerPoint slides.

Which of the following are limitations of standard memorized presentations?

-Some buyers view memorized presentations as amateurish. -Memorized presentations can ignore customers' complex buying needs. -Memorized presentations offer no opportunity for salespeople to tailor the presentation to specific customers' needs.

From the following list, select all the statements that are true of straight-rebuy purchases.

-The dollar volumes associates with these purchases are typically low. -Customers' information needs for these purchases are low. -The customer has a significant history to rely on for these purchases. -These purchases are often automated based on parameters agreed upon between buyer and seller.

From the following list of statements, select all that are true of sales analysts.

-Their goal is to increase sales productivity and customer satisfaction. -They create standardized and customized reports that analyze a wide variety of data. -They are responsible for the collection and analysis of sales data. -They seek to reduce sales barriers and low revenue levels.

From the following list, select all the statements that are true of deciders

-They make the actual choice of a product or service for purchase. -They typically rely on other individuals on the buying team when making their decision. -The titles of these individuals is typically a function of purchase importance, with higher-level executives usually in charge of new-task purchase situations.

From the following list, select the three benefits of using product comparison sheets.

-They may encourage some buyers to do their analysis on criteria presented in the product comparison sheets. -They can serve to enhance perceptions of seller credibility and professionalism. -They enable buyers to easily compare different options, thus allowing social sellers to provide value to prospective clients.

From the following list, select all the characteristics of influencers.

-They often affect the final purchase decision or some facet of the purchase decision. -They help determine the priorities that need to be addressed when making the purchase decision. -They express their opinions regarding potential solutions.

From the following list, select all the activities that sales managers perform.

-They serve as conduits for information received from the front lines to senior management about ongoing market trends and competitive actions. -They develop annual sales quotas for their assigned territories. -They establish sales objectives. -They work with human resource personnel to recruit, select, train, supervise, and evaluate employees.

From the following list, select all the statements that are true.

-We best learn and visualize information through stories. -Stories can simplify and clarify complex information. -Through stories, facts and raw data gain meaning. -Stories help the audience remember what they've heard.

Which of the following questions should you ask when you are attempting to socially surround a buying committee?

-Who else in the business is part of the buying committee? -Are there other divisions or related corporate entities and people within the organization that I need to know? -Who influences the members of the buying committee?

From the following list, select all the items that are benefits of telling stories in sales presentations.

-motivating individuals to take action -motivating groups to take action -making data and facts come to life -capturing the audience's attention

From the following list, select the knowledge bases on which a high level of competence is built.

-service knowledge -industry knowledge -technological knowledge -product knowledge -company knowledge -customer knowledge -competitive knowledge

Which of the following are common elements of a formula sales presentation?

-trial closes -objections -a focus on the product being sold -questions

If you are looking to create a new sales opportunity based on sharing a particular client success story, which three pieces of information will you need?

-vendors, partners, or customers that interact with the featured client regularly -competitors of the company selected for the case study -past and current employees of the featured company

Place the four steps of developing a prospecting strategy in order, from first to last.

1. develop a prospecting plan 2. allocate adequate time to the prospecting process 3. track results 4. evaluate lead-generation methods and overall prospecting success

Place the steps in the prospecting process in order from first to last. Instructions

1. lead generation 2. lead prioritization 3. lead qualification 4. prospect prioritization 5. call planning

In a formula sales presentation, the salesperson talks about _______ percent of the time and listens about _______ percent of the time.

60-70; 30-40

Which of the following explain why attrition occurs?

Customers may cease operations in the category the salesperson sells in. Customers may be dissatisfied. Customers may go out of business.

Which technology provides a mechanism through which many straight-rebuy purchases are transacted, especially in B2B settings?

EDI

In an attempt to influence buyers, product comparison sheets usually stack the deck in favor of the issuing company's product.

False

Memorized sales presentations are particularly suited to customers with complex buying needs.

False

Which of the following is an example of a new-task purchase?

For the first time, a company purchases a fleet of cars for its executives to use.

Which of the following provides a periodic digest of information from around the world on any company, person, or subject that you specify?

Google Alerts

Which of the following are characteristics of a prospect?

It possesses the ability and authority to purchase. It demonstrates both organizational potential and purchasing alignment. It demonstrates a need for the product or service being offered.

From the following list, select all the reasons why salespeople may be hesitant to prospect.

Prospecting takes too much time away from existing customers. Rejection is demoralizing and can exact a heavy emotional toll.

Sales professionals should adopt social media because ______.

Sales professionals should adopt social media because ______.

Which of the following is the key downside to using product comparison sheets?

They risk exposing buyers to rival solutions they may not have previously considered.

On which of the following questions should a salesperson focus when determining which sales-presentation method to use?

What are the specifics of the product I am selling? What are my strengths and weaknesses? What are the buyer's preferences?

Which of the following is an example of a modified-rebuy purchase?

a line review to decide which products the company will regularly stock in the coming year

In terms of evaluating the effectiveness of a story, what type of response from the customer is most likely to lead to a sale?

a visceral response

Stories that engage the audience's emotions are particularly useful for nonprofit organizations because they can achieve which of the following goals?

achieving fundraising goals raising awareness mobilizing volunteers building trust

When you engage in social listening, you monitor your brand's social media channels for customer feedback and mentions, and then you ______.

analyze the information to gain insights and act on the opportunities

A professional ______, such as that offered by GrowthPlay, can help you discover your strengths as a salesperson.

assessment

Which term refers to groups of individuals who ultimately have a voice in the purchase decision?

buying teams

The avoidance of customer interactions when prospecting is called __________.

call reluctance

Which two of the following are synonyms for customer success stories?

case studies, testimonials

The stories told by for-profit organizations tend to focus on ______, while the stories told by nonprofit organizations tend to focus on _______.

changing the world; hope and perseverance

To act as a consultative salesperson, you must demonstrate a high level of_____________ in various knowledge bases: customer knowledge, company knowledge, product knowledge, competitive knowledge, industry knowledge, technological knowledge, and service knowledge.

competence

The definition of what constitutes strong character is ______. That is, it depends on the situation.

contexual

Content _______ is the process of continually finding, grouping, and sharing across social networks the most relevant content on a specific issue

curation

The first step in preparing an effective sales presentation is to develop a _______.

customer-value presentation

Constrained loyalty exists when ______.

customers continue to purchase from the selling firm because they are constrained to the relationship, perhaps by a contract

Which members of the buying team make the actual choice of a product or service for purchase?

deciders

The process of developing a successful prospecting strategy begins with ______ and ends with ______.

developing a prospecting plan; evaluating overall prospecting processes

To ensure an adequate focus on customer acquisition and retention at the organizational level, sales have begun ______ sales roles based on the activities performed.

differentiating

Sales ________, are sales-support staff who interact with their counterparts in the customer's buying center to address technical questions and issues that arise during the sales process

engineers

A good way to test your decision for the specific type of sales presentation you will use with a customer is to ______.

explain your decision to a colleague or manager

In situations that involve the purchase of high-importance items, the same person is usually both decision maker and purchaser.

false

In the modern sales environment, social selling is used mostly by enormous companies that sell globally.

false

The jury is still out on social selling; we need more research to determine whether it is more effective than traditional prospecting techniques.

false

The primary element in a social-selling strategy is a one- or two-day workshop to teach people about social media platforms.

false

___________ typically call on customers at the customer's place of business. They typically work for B2B and wholesale organizations whose sales processes rely on relationship-building and long-term contracts.

field reps

The first step in socially surrounding a buyer is to ______.

find relevant information about the buyer

A salesperson with a farming orientation tends to _________.

focus more on selling to existing customers by building long-term relationships

In which type of sales presentation does a salesperson follow a somewhat less structured, prepared outline, allowing more flexibility and opportunity to gather customer feedback?

formula sales presentation

Product users often focus on the _______ of the offering, as this is important to them in their role.

functionality

The presence of ______ means that salespeople must be adept at developing communications that spark an interest among members of the buying team, motivating them to engage.

gatekeepers

Which members of the buying team control access to the buying-team members and have influence over the communication the salesperson is able to have with these members?

gatekeepers

Personal selling offers which two unique advantages over other promotional elements (advertising, sales promotion, and public relations

immediate feedback relationship selling

A customer's sphere of _____________ is composed of the individuals or groups within one degree of separation from the sales prospect.

influence

Which group of people in the buying team helps determine the priorities to be addressed when making the purchase decision and expresses their opinions regarding potential solutions?

influencers

________________ salespeople are those who perform selling activities at the employer's location, typically using email and the telephone.

inside

The difference between persuasion and manipulation is often based on______________, or what is in the prospect's best interests

intent

The gatekeeper typically _______ a formal member of the buying team.

is not

The prospecting process begins with _______ and ends with ______.

lead generation; call planning

Which term refers to the personal connection or social bond between a salesperson and a customer?

likeability

Relationship selling is a ______ approach to building and maintaining customer trust.

long-term

When repurchasing from a firm, customers may exhibit three different types of

loyalty

The term _______ refers to activities through which individuals strengthen their social and professional relationships.

networking

Which types of salespeople are responsible primarily for finding new customers and securing their business?

new-business salespeople

To succeed at the business level, social selling must become a(n) _______ strategy.

organizational

_______ is the two-way flow of communication between a buyer and a seller, paid for by the seller and seeking to influence the buyer's purchase decision. Multiple choice question.

personal selling

Referrals are extremely beneficial in sales because _______.

potential customers are typically more receptive to salespeople who are reaching out based on the suggestion of another customer

In 2019, during a press conference, Elon Musk attempted to prove that the glass window of his Tesla Cybertruck could not be broken. One of his assistants threw a metal ball at the window, and, contrary to Tesla's promise, the window shattered (but did not fall out of the frame). Tesla's publicity event was an example of a failed _______.

product demonstration

_______ is the process through which salespeople identify and engage with new customers or areas of business with existing customers.

prospecting

The key purpose of evaluating lead-generation methods and prospecting processes is to _________.

refine the overall process for interacting with potential new customers

When a story holds the attention of the audience and connects to their personal experiences:

remember the presentation better

In straight-rebuy purchases, the customer has ______ to rely on, and the purchases themselves require ______.

significant history, little time or energy

The modern way for sales professionals to initiate and develop meaningful relationships with potential customers is ______.

social selling

Which of the following is the process of developing, nurturing, and leveraging relationships online to sell products and services?

social selling

In a sales context, ethical practices mean understanding _______ and acting in a way that puts the company, the profession, and the job in a positive, ethical light.

societal norms and values

A product specification sheet is also known as a

spec sheet

Which of the following is a tried-and-true method of building a relationship to a center of influence and gaining access to a larger group?

sponsoring an event

______ loyalty exists when the customer continues to purchase only out of habit.

spurious

Suppose you are about to give a PowerPoint presentation and your laptop computer dies. You forgot your recharging cord, and you don't have the presentation backed up on a thumb drive. Your sales presentation is likely to fail due to ______.

technical problems

Suppose you are selling the services of your company, which offers doggie daycare and kennel services to dog lovers. Which one of the following pieces of information would your potential customers find irrelevant?

the company's commitment to finding homes for stray kittens

What is the goal of social listening?

to gain insight and act on emerging opportunities

What is the goal of any company that is engaged in social selling?

to have its salesperson and company be the first person or brand that prospects think of when they're ready to buy

Which industry-specific events bring together selling companies and customers in the same physical location?

trade shows

Historically, the salesperson was the primary provider of information required to begin the purchasing process, but this situation has changed as the internet has become a dominant force in society.

true

Research suggests that more than half of potential buyers want to see how a product works during the first sales call

true

The initiator often serves as a champion for the salesperson as the sales process unfolds.

true

A salesperson who has earned the trust of a customer through high character and high competence is known as a

trusted advisor

From the following list, select the five types of data that may appear on a product specification sheet.

usability handling components or ingredients disposal description

Traditional sales meetings are conducted _________.

via phone or onsite at the customer's place of business

Which of the following is an authoritative document intended to fully inform the reader on a particular topic?

white paper

When we say that prospecting is the lifeblood of the sales organization, we mean that ________.

without a continuous flow of new customers, the organization would cease to exist