MKT 360 Ch 1

The national average salary for an entry-level sales position in 2019 was about ______ per year. $34,000 $86,000 $56,000 $104,000

$56,000

Arrange the following industries in order of their percentage of revenue attributable to social selling, from largest to smallest.

1. computer and network security 2. hospital and health care 3. financial services 4. telecommunications

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

Inside

Why are salespeople particularly important in sales situations in which customers perceive the purchase as risky? Salespeople have psychological training that helps them re-focus potential customers away from their possible worries and concerns. Salespeople can often overcome objections by sweeping aside or discounting buyers' objections. Salespeople are trained to use technical language and jargon to explain their products to potential buyers. Salespeople help to build customers' trust in the firm and its products.

Salespeople help to build customers' trust in the firm and its products.

_ selling is the the process of developing, nurturing, and leveraging relationships online to sell products or services.

Social

Which of the following statements are true of CRM systems? They help the company and the salesperson see the customer's entire history and order status in one place. Their goal is to increase sales and profitability. They help to manage all of a company's relationships and interactions with existing customers and potential customers. They exist to improve business relationships. They rely on traditional, paper-and-pencil methods of tracking leads and closing business.

They help the company and the salesperson see the customer's entire history and order status in one place. They help to manage all of a company's relationships and interactions with existing customers and potential customers. They exist to improve business relationships.

From the following list of statements, select all that are true of sales analysts. They seek to reduce sales barriers and low revenue levels. They focus on the past rather than the future. 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 in charge of training the sales force in the most modern sales and negotiations techniques. They are responsible for the collection and analysis of sales data.

They seek to reduce sales barriers and low revenue levels. 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.

Order the following steps in the sales management career path from most junior job to most senior job.

1. sales mgr 2. district sales mgr 3. regional sales mgr 4. VP of sales

The number of people working as sales professionals in the United States is approximately _______. 1 billion 15 million 875,000 50 million

15 million

How do B2B buyers typically differ from individual consumers? B2B buyers often possess extensive knowledge about the product. B2B buyers make small-scale, inexpensive purchase decisions. B2B buyers are usually inexperienced at negotiations. B2B buyers cannot be reached by traditional sales techniques.

B2B buyers often possess extensive knowledge about the product.

From the following list, select the commonalities between selling to individuals and B2B selling. Both center on helping customers solve problems. Both follow a similar sequence of steps. Both involve massive advertising budgets. Both require salespeople who have not yet reached middle age. Both require salespeople to interact with multiple decision makers.

Both center on helping customers solve problems. Both follow a similar sequence of steps.

_ are the moral standards expected by a society.

Ethics

SMEI Code of Conduct at Sterling Sales Nikesha is attemptiong to Provide excessive gifts to Anna, including a cruise and sports tickets, in an attempt to get her to recommend Nikesha's Company for a new contract. Erin is selling retail electronics and refuses to take no for an answer. As the customer attempts to leave, she blocks the door and continues to aggressively sell. James is selling a used boat at a profit that is likely not going to work once the new owner tries to use it in the water. Stephanie manages a team of five salespeople. She provides no training and tells the salespeople to simply generate specific revenue targets. Donald is selling a new product that he is confident is negatively impacting the environment and potentially hurting society at large. Will is having an inappropriate personal relationship with Shari, who is the buyer for Will's largest client.

I hereby... Donald My concept... I shall... Nikesha

Which of the following are the three pledges contained in the SMEI code of conduct? I will maintain the highest standards of ethical professional conduct in all my business relationships. I believe that salespeople have the right to withhold information as necessary to ensure that a sales is closed. I will not blow the whistle on any unethical practices that take place in my company, because the company pays my salary and it has my primary loyalty. I acknowledge my accountability for adhering to the highest professional standards in my work and personal relationships. The basic principle of my selling is the sovereignty of consumers in the marketplace and the need for mutual benefit to buyers and sellers in all transactions.

I will maintain the highest standards of ethical professional conduct in all my business relationships. I acknowledge my accountability for adhering to the highest professional standards in my work and personal relationships. The basic principle of my selling is the sovereignty of consumers in the marketplace and the need for mutual benefit to buyers and sellers in all transactions.

Sales Analytics at Bengal Telecommunications This activity is important because organizations should understand how sales analytics provided by customer relationship management (CRM) systems help them prioritize when personal selling will be most effective. David recently joined a regional telecommunications company, Bengal Telecommunications, as their vice president of Sales. From his industry experience, David knows that personal selling is typically more effective than other tools when products are new to the world, infrequently purchased, highly technical, or very risky. David has started a complete review of all of Bengal's accounts and is looking for information to decide which accounts he should deploy his best salespeople to.

New to the World Century MFS Grizz Infrequently Purchased XO Comm El Dorado Highly Technical SBC Very Risky Axient St Bernard

_ organizations are those whose motive is something other than to make a profit for their owners.

Nonprofit

Which of the following statements are true of nonprofit organizations? The funds raised by a nonprofit are typically distributed to owners or shareholders. Nonprofits are generally organized to further a social cause or to advocate for a point of view. Unlike for-profit companies, nonprofit organizations do not need to sell themselves. Many nonprofits need a sales team to reach large numbers of intended beneficiaries. To accomplish its mission and grow, a nonprofit must continually bring in new donors and workers/volunteers.

Nonprofits are generally organized to further a social cause or to advocate for a point of view. Many nonprofits need a sales team to reach large numbers of intended beneficiaries. To accomplish its mission and grow, a nonprofit must continually bring in new donors and workers/volunteers.

From the following list, select all of the major challenges associated with professional selling. Personal selling requires tenacity; for most products, one sales call will not result directly in an order. Personal selling does not usually show a good return on investment. Personal selling is expensive. Personal selling can lead to inconsistent messaging.

Personal selling requires tenacity; for most products, one sales call will not result directly in an order. Personal selling is expensive. Personal selling can lead to inconsistent messaging.

From the following list, select all the activities that sales managers perform. They develop annual sales quotas for their assigned territories. They serve as conduits for information received from the front lines to senior management about ongoing market trends and competitive actions. They work with human resource personnel to recruit, select, train, supervise, and evaluate employees. They oversee the activities of field reps only at the lowest level of the organizational hierarchy. They typically work from home, rarely joining their employees for sales calls in the field. They establish sales objectives.

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

Which of the following statements are true of excellent salespeople? They focus more on bringing in new customers than on providing service to existing customers. They enjoy great visibility within the organization. They tend to move quickly into higher-level sales- and marketing-management roles. They often join the research and development (R&D) team after a year or two in the field.

They enjoy great visibility within the organization. They tend to move quickly into higher-level sales- and marketing-management roles.

Which of the following questions is not part of the four-question process that State Farm agents ask their clients? Where are you today financially? What are the gaps you need to address? What is important to you? What are the actions you need to take? What is the amount of money you have to spend on insurance?

What is the amount of money you have to spend on insurance?

Sales _ is the practice of generating insights from sales data, trends, and metrics to set targets and forecast future sales performance

analytics

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 prepare a PowerPoint presentation summarizing the information shut down any criticism of your product or service by deleting customers' negative comments reach out to salespeople who sell products or services similar to those that you are selling

analyze the information to gain insights and act on the opportunities

Which of the following are important components of strong communication? appropriate tone and emphasis staying silent while the customer talks speaking at louder volume than the client a "hard" or aggressive sales technique

appropriate tone and emphasis staying silent while the customer talks

State Farm develops relationships and different types of products to increase complexity. the number of employees required. automation. customer lifetime value. advertising.

customer lifetime value.

Personal selling tends to be most effective when a good or service is ______. an everyday purchase customizable simple to operate or use infrequently purchased viewed as risky brand-new to the market

customizable infrequently purchased viewed as risky brand-new to the market

The difference between excellence and mediocrity in sales is almost always a matter of attention to _.

detail

Video Case: State Farm Salespeople are especially valuable when the product they are selling are all of the following except: highly technical. customizable. new. easy to use. complex.

easy to use.

Which two methods do firms use to promote ethical behavior? monitoring sales reps via phone apps emphasizing core organizational values strictly enforcing ethical codes conducting market research among customers

emphasizing core organizational values strictly enforcing ethical codes

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

"Inside salesperson" and "telemarketer" are synonyms. True false

false

Customers are primarily concerned with a salesperson's ability to manage the "big picture," and they care less about the salesperson's management of tiny details. True false

false

One of the disadvantages of personal selling is that its use makes it more difficult for the firm to develop a personal relationship with its customers. T/F

false

To be a good salesperson, you must be born with a set of personality traits that make you suited to a sales job. True false

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 new-business salespeople B2C salespeople inside salespeople

field reps

From the following list, select all the items that are components of the SMEI code of conduct. high professional standards in work and personal relationships the need to compete primarily on the basis of quality and customer service the necessity for mutual benefit to both buyer and seller in all transactions high standards of ethical and professional conduct in all business relationships the sovereignty of all consumers in the marketplace the promise to put the company's needs before the salesperson's personal needs or the customers' needs

high professional standards in work and personal relationships the necessity for mutual benefit to both buyer and seller in all transactions high standards of ethical and professional conduct in all business relationships the sovereignty of all consumers in the marketplace

The key to being highly productive is ______. decreasing interactions with colleagues managing your time substituting technology for in-person sales calls minimizing the time spent sleeping

managing your time

Salespeople at Pitney Bowes, a global technology company, systematically utilize LinkedIn to network and distribute more timely and useful information to B2B buyers. This approach is known as digital buyer communications. relationship marketing. networking. social selling. social media marketing.

networking.

Which types of salespeople are responsible primarily for finding new customers and securing their business? inside salespeople field reps new-business salespeople marketing-focused salespeople

new-business salespeople

When sales reps engage in active listening, they learn more about their customer's business and pain points, which helps them _______. move closer to meeting their sales quota increase their profit margin on the sale offer better solutions to the customer "finesse" the customer into making a purchase that is beyond his or her budget

offer better solutions to the customer

The largest occupational category in the United States is ______, followed by _______. salespeople, social media specialists marketers, clerical workers accountants, retail workers office and administrative workers, salespeople

office and administrative workers, salespeople

From the following list, select all of the activities that are involved in social selling. personal branding online trade shows interacting directly with potential buyers and customers social listening sharing relevant content with leads and prospects open-floor office plans

personal branding interacting directly with potential buyers and customers social listening sharing relevant content with leads and prospects

Which of the following are associated with success in a sales job? personal discipline positive attitude introversion extroversion high motivation

personal discipline positive attitude high motivation

State Farm agents asking questions and listening carefully to what the customer is saying typically takes place during which step in the personal selling process? prospecting pre approach social branding gaining commitment presentation

presentation

Which of the following is often the cause of salespeople losing focus on customers' needs? pressure to meet sales goals the desire for work/life balance family responsibilities the desire for a promotion

pressure to meet sales goals

Customer _ management (CRM) is a technology for managing all of a company's relationships and interactions with existing customers and potential customers.

relationship

Firms that emphasize CLV (customer lifetime value) focus on customer ______. relationships size profitability status characteristics

relationships

Which job function is responsible for the collection and analysis of sales data? sales coordinator sales strategist sales gun inside salesperson sales analyst

sales analyst

Which of the following is the practice of generating insights from sales data, trends, and metrics to set targets and forecast future sales performance? sales analytics data analysis P&L (profit and loss) forecasting GANTT planning

sales analytics

Which sales professionals have oversight of selling efforts at varying levels of the organizational hierarchy? sales engineers sales-support specialists inside salespeople sales managers

sales managers

Which of the following is the monitoring of your brand's social media channels for any customer feedback and direct mentions of your brand? social selling cost-benefit analysis SEO (search engine optimization) social listening

social listening

Which of the following is the process of developing, nurturing, and leveraging relationships online to sell products and services? social selling insider trading inside selling professional selling

social selling

State Farm agents using Facebook and other social media platforms to find, connect with, understand, and nurture relationships with sales prospects is an example of social selling. specialist sales force. customer lifetime value. lead scoring. FAB approach.

social selling.

Social selling involves meeting buyers on the _______ platforms where they are already conducting product research and due diligence online. social-network Microsoft-sponsored R&D publicity

social-network

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. profit models sales techniques stock market fluctuations societal norms and values

societal norms and values

Sales engineers play a ______ role in the sales process. support minor nonessential budget-focused

support

Regardless of your major, you need to "sell" potential employers on how your ______ will contribute to the success of their organizations. age and wisdom talents and experiences social and economic status college GPA and coursework

talents and experiences

Which of the following are the two key tools used by inside salespeople? social media telephone blogs in-person visits email text messages

telephone email

Active listening means really listening rather than ______. taking notes on the customer's needs and requirements offering solutions that will meet the customer's stated and unstated needs ensuring that any potential sales are mutually beneficial to seller and buyer thinking about what you'll say next

thinking about what you'll say next

When you have good _ management skills, you know how to sort through leads to find the most promising ones and do not waste time on deals that are going nowhere.

time

Sales analytics professionals ______. focus exclusively on expense management and minimization are responsible for preparing the firm's key financial documents (balance sheet, income statement) train newer members of the sales force on effective selling techniques translate insights from sales information and trends into actions for the field

translate insights from sales information and trends into actions for the field

A key advantage to personal selling is that face-to-face interactions with a customer facilitate a firm's ability to provide more detailed and individualized information about its products and services. T/F

true

According to research by author Daniel Pink, people spend roughly 40 percent of their work time in nonsales selling—that is, persuading, influencing, and convincing others in ways that don't involve making a purchase. T/F

true

For sales managers, one benefit of greater use of digital technology is that the selling environment has become less complex. This makes it much easier to hire and train new sales representatives. T/F

true

In complex sales settings, sales engineers commonly interact with counterparts within the customer's buying center to address technical questions. T/F

true

Nonprofit organizations often find that sales tools and techniques can help them raise funds. True false

true

Strong communication skills are essential in all careers, not just sales careers. True false

true

The job outlook is positive for numbers-oriented people who can glean insights from data and use those insights to make their organization more effective and profitable. True false

true

The promotion mix consists of three main elements of marketing communication: advertising, sales promotion, and personal selling. T/F

true

The traditional view of sales holds that sales performance is a direct result of the amount of effort that salespeople put into creating new opportunities and closing deals. True false

true

Relationship selling involves building and maintaining customer ________ over a long period of time—not just meeting periodic sales quotas. trust sales profits revenue friendships

trust

Ultimately, selling yourself means communicating your _______. Multiple choice question. value goals belief system salary requirements

value