D099 Study guide questions

Réussis tes devoirs et examens dès maintenant avec Quizwiz!

- Offering a customer accessories that complement a product. - selling a different but related or complementary product to an existing customer to improve profits. a. cross-selling b. upselling c. differentiation

- Understanding and sharing the feelings of another - Helps create a personal connection essential for building relationships and trust a. empathy b. verbal communication c. conflict resolution d. analytical decision-making

- direct labor - direct materials - commissions - piece rate wages - manufacturing supplies a. direct costs b. indirect costs

- outlines income expenditures - generally annual - business tools - tactical plan - based on sales forecast - static a. budgets b. forecast

A B2B company that purchases parts, products, or ingredients to produce other goods and services to see to other companies. a. producers b. reseller c. organization

A CRM system organizes information, records, and reports and automates, streamlines, and monitors workflows and activities quickly. CRM systems are also intended to integrate with a broad range of company and office platforms in order to provide superior flexibility. a. improved efficiency b. customer focus c. data accessibility d. enhanced accountability

A business-to-business (B2B) firm designs, develops, and sells a variety of technology goods that require specialized knowledge for each solution. The sales force is divided into groups based on the type of technology solution the clients need. Which organizational structure is this company utilizing? a. Product b. Customer c. Geography d. Matrix

A cable company salesperson was given a quota to increase sales of bundled services. The quota is based on units and was stated as 100 new bundled subscriptions sold regardless of how much each bundled package brought into the company.Which type of quota is described? a. Volume b. Overlay c. Profit d. Activity

A small, privately owned business that produces handmade crafts has experienced a sizable sales increase. As a result, the owners have decided to offer their entry-level sales staff greater rewards in the immediate future. What are two examples of rewards that would best suit this business? a. Team pay and sales contest b. Gain-sharing and stock options

A tool that records both positive and negative behavior of a salesperson as related to specific instances. a. critical incident technique b. behaviorally anchored rating c. behaviorally observation scale

A trainer is teaching a salesperson how the economy influences consumer buying. Which type of training is the trainer providing? a. Industry b. Technical c. Product d. Professional

A training manager is awarded a one-time bonus of $1,000 at the end of the year for ensuring that every employee in the company receives annual training on time. Which type of incentive is being provided to the manager? a. Reward b. Gain-sharing c. Intrinsic reward d. Deferred compensation

A type of statistical approach that requires only candidates with high (preset) scores go to the next stages of the selection process. a. multiple hurdle model b. multiple cutoff model c. headhunter

A written statement that outlines a particular job's title and an employee's responsibilities. a. job description b. job analysis c. job design d. job specification

An antiaging company has introduced a new moisturizer to replace an older product. The sales team received product training on the new product prior to launch. As a result of the training, the sales team was able to schedule additional customer appointments to present the product to existing customers. Which sales training benefit did the sales team experience? a. Improved productivity b. Improved morale c. Reduced customer turnover d. Professional development

An engineering firm is looking to hire a technical business-to-business (B2B) salesperson to build a manufacturer client base. The sales manager sends the job description out to all employees of the firm to apply for the position. Which approach to recruiting is this sales manager using? a. Internal recruitment b. External recruitment c. Contracting a headhunter d. Hiring a staffing agency

An individual who interacts with sellers and facilitates their access to members of the buying center. a. gatekeeper b. influencer c. initiator d. user

An investment manager has identified a need for new financial services software and decides to discuss the new software with the administrator responsible for technology purchases.Which type of business-to-business (B2B) stakeholder is this investment manager? a. Initiator b. User c. Gatekeeper d. Buyer

An office manager wants to repurchase office products from a supplier that offers the company discounts for consistent monthly orders.Which buying relationship is this office manager seeking? a. Functional b. Strategic c. Co-marketing d. Affiliative

B2B decisions are influenced by characteristics of the individuals involved in the selection process. A person's job position, tenure, and level in the organization may all play a role in influencing a purchasing decision. a. individual factor b. organizational factor c. business environment d. Government and regulatory environment

Based on the number of units or subscriptions sold that results in a certain sales figure. a. profit/revenue quota b. activity quota c. volume quota

Involves pursuing a desired outcome or standing by an opinion while considering and respecting the desired results and views of others. It permits the salesperson to advance a sales interaction without insulting or frustrating the customer. a. assertiveness b. self-awareness c. empathy d. problem-solving e. optimism

The sales department is informed that there will be delays with merchandise deliveries for the next month due to a change in the company's delivery carrier. The sales manager takes this into account as she forecasts performance for the next month. Which factor does the delivery delay represent for the sales forecast? a. Planning issue b. Competitor market c. Economic climate d. Personnel change

An appraisal system that has received increasing attention in recent years is the __________. As a salesperson moves from extremely poor performance to extremely good performance, the performance descriptions increase. Oftentimes, 6-10 scales are used to describe the performance on the job and should relate specifically to the role. a. behavioral observation scale (BOS) b. behavioral anchored rating scale (BARS)

An employee is learning sales techniques by a qualified instructor through a live webinar. Which type of instruction is being provided? a. Gamification b. Synchronous c. Programmed instruction d. Asynchronous

An individual who lives in a town that is primarily supported by a large automotive factory is shopping for a new car and debating whether to buy a foreign or locally made vehicle. The individual considers the neighbors' reactions to the purchase before buying the car. Which factor of product perception is influencing this consumer's buying process? a. Situational b. Social c. Object d. Personal

An individual with specialized knowledge that would be useful during the decision-making process. a. gatekeeper b. influencer c. initiator d. user

- Considers the costs associated with only certain activities. - Often used to analyze internal processes . - Only considers costs that are directly traceable to a product or process. - Analyzes financial information related to internal processes. a. Full Product Costing b. Activity-Based Costing

- Goals, objectives and culture changes - Human resources - Financial resource availability - Production and supply chain capabilities - Technological requirement a. external forces b. internal forces

- Loss of control - Sellers can decide which products to sell - Communication issues - Impact on company culture - Problems with quality control a. outsourcing benefits b. outsourcing drawbacks

- predicting the financial future - can be over any period - business tools - strategic plan - based on historical records or research - flexible a. budgets b. forecast

- supervisors salaries - quality control costs - insurance - depreciation a. direct costs b. indirect costs

-Using written and spoken language, and responsive listening -Helps determine the level of trust that colleagues or customers have in the person a. empathy b. verbal communication c. conflict resolution d. analytical decision-making

A B2B company that buys finished goods to sell, lease, or rent to other companies or consumers a. producers b. reseller c. organization

A CRM system increases a favorable customer experience and improves communication through tracking the connection of an organization with customers on all touchpoints. a. improved efficiency b. customer focus c. data accessibility d. enhanced accountability

A company has decided to use internal recruiting to fill a position. What is a benefit of using this hiring approach? a. Expansion of the talent pool b. Familiarity with the product c. Increased diversity of candidates d. More recruitment options

A company is creating a strategic recruitment plan for its sales staff. The company is currently working on the forecast for its staffing needs. Which internal factor does the company need to consider? a. New employment laws b. Limitations to the budget c. Changes in future technology d. Increased competition

A company is training its new sales force on the geographic market each member will represent, consumer buying behavior, and economic conditions that impact the market.Which type of training is being provided by this company? a. Technical b. Industry c. Product d. Team

A company is using a point system that assesses the qualities and undertakings of their sales staff in order to determine their productivity over time.Which performance-evaluation method is being used by this company? a. Behavioral checklist b. Graphic rating scale c. Employee-comparison d. Peer assessment

A company seeks to expand into new consumer markets in the western United States. It has chosen to use U.S. Census data to help segment customers. Which relevant information will the company gain from the Census that aids in its expansion and segmentation efforts? a. Predicted future buyer behavior of potential customers b. Demographic traits of potential customers c. Psychographic traits of potential customers d. Past buyer behavior of potential customers

A company wants to develop a 360-degree customer view of its online purchasing experience. How should the company achieve this goal? a. Perform a product quality audit b. Review social media interactions c. Hire a website developer d. Analyze call center volume

A consumer in a department store goes to the perfume counter to purchase a gift and is assisted by a salesperson. The consumer chooses a perfume, purchases it, and leaves the store. Which type of selling is being used by this salesperson? a. Promotional b. Transactional c. Referral d. Relationship

A consumer is looking to buy a new house. He has chosen the neighborhood, price point, and type of house he is looking for. He has even been pre-approved for the loan. He contacts a real estate agent and asks to see houses that match his requirements. At which stage is this consumer on the buyer's journey? a. Action b. Desire c. Attention d. Interest

A customer is purchasing a new television. Prior to making the purchase, she researches the latest television models and arrives at the electronics store with a list of the dimensions and picture resolution that she wants. Which of the four main factors has influenced the behavior of this consumer? a. Situational factors b. Object factors c. Personal factors d. Social factors

A firm's marketing team uses sales analytics to prioritize its current customers so that marketing messages can target the current customers more effectively. Which action is the marketing team taking? a. Processing b. Segmentation c. Collection d. Placing

A local company has exclusive rights to make a nationally known soft drink and put it into grocery stores for sale in the local area. The company's agreement with the soft drink's headquarters precludes it from making or selling any rival brands of soft drink. Which type of intermediary role is the local company performing in this distribution channel? a. Wholesaler b. Distributor c. Retailer d. Agent

A mobile phone manufacturer recently purchased a new operating system that is openly sourced by volunteer coders. The manufacturer decides to survey users of the new operating system to determine whether the operating system is working properly.Which organizational buying decision stage is reflected in this scenario? a. Requests for proposal b. Performance review c. Bid analysis d. Need recognition

A multinational fast food company that diversifies its menu based on each region it serves. a. customer structure b. geography structure c. product structure

A national restaurant chain is having financial trouble and wants to cut costs by eliminating underperforming restaurants. Store managers were tasked with reviewing their sales reports from the last quarter to help the executive team make an informed decision about which restaurants to close. What should the executive team use in the decision-making process? a. Outbound prospecting b. Business intelligence (BI) c. Research and development d. Big data analytics

A process used to collect data about the responsibilities, duties, and necessary skills of a particular job. a. job description b. job analysis c. job design d. job specification

A rater's bias that occurs because of the rater rating an individual too positively. a. confirmatory bias b. leniency error c. strictness

A rating tool that identifies observable job-related behaviors as they relate to superior or inferior performance using performance descriptions. a. critical incident technique b. behaviorally anchored rating scale (BARS) c. behaviorally observation scale (BOS)

A routine sale that does not require interaction with a salesperson is a ________________ purchase, such as a customer buying _______________. a. limited involvement; computer b. low involvement; orange juice c. high involvement; house

A sales department manager gives an individual a test that evaluates how the individual navigates ambiguity, his attention to detail, and his organization. What type of test is the manager providing to the individual? a. Job knowledge test b. Personality test c. Aptitude test d. Achievement test

A sales manager is forecasting next week's sales by calculating the total sales from the last six weeks of the year, then dividing by the number of weeks.Which approach to sales forecasting is being used by the sales manager? a. Weighted moving average b. Simple moving average c. Exponential smoothing d. Decomposition analysis

A sales manager receives feedback that the sales team's strategic thinking needs improvement. Which activity should demonstrate the sales team's strategic thinking ability? a. Increased customer satisfaction and sales referrals b. Performance that connects company and customer goals c. Training in conflict management and resolution d. Sales revenues that are based on lower cost of goods

A salesperson is developing a plan to improve product demonstrations. The plan will have the customers evaluate the importance of product demonstrations in order to create long-term trust and recurring sales. Which factor is the focus of the salesperson during the development of this plan? a. Customer needs b. Customer lifetime value c. Customer return on investment d. Customer budget

A salesperson is feeling pressure to meet sales goals for the quarter. How should the salesperson determine whether goals have been met? a. Identify the product value to customer b. Conduct a win-loss review of purchases c. Evaluate product sentiment by customer d. Analyze reviews of customer satisfaction

A salesperson meets with a potential customer to explain how a product creates an innovative solution that competitive products cannot offer. Which concept is the salesperson discussing with the customer? a. Customer lifetime value b. Value proposition c. Return on investment d. Net customer profit

A software salesperson is meeting with a client to demonstrate new features of their application and answer questions as to why it brings value to the client's company. The salesperson also takes the opportunity to discuss with the client why this software is better than the competitor's version and how it provides the solutions the client needs. What two sequential steps of the sales process is this salesperson applying? a. Closing and presenting b. Presenting and handling objections c. Prospecting and presenting d. Presenting and following up

A training manager is awarded a one-time bonus of $1,000 at the end of the year for ensuring that every employee in the company receives annual training on time.Which type of incentive is being provided to the manager? a. Deferred compensation b. Reward c. Gain-sharing d. Intrinsic reward

A type of statistical approach that requires that a candidate have a minimum score level on all selection criteria. a. multiple hurdle model b. multiple cutoff model c. headhunter

Activity-based costing identifies what a business's ____________ will be for a product or process. To begin the four-step process, the manager first should __________. a. direct costs; identify cost drivers associated with sales b. indirect costs; identify activities that require resources

An ___________ is the term for quotas assigned to managers who supervise the sales representatives. The quotas will be assigned to the sales staff under the managers. For example, a geographic territory of three sales personnel, each having a quota of 50 sales, would have a total quota of 150 sales. a. activity b. overlay c. direct d. volume

A company manager is deciding between office product suppliers and asks an administrative assistant to choose the supplier that has provided the best service with past orders. How will this administrative assistant support the buying process? a. Initiating the company purchase opportunity b. Granting access to the purchase agent c. Linking the product purchase to profitability goals d. Using personal experience to recommend the purchase

A company wants to hire a new technical salesperson for business-to-business (B2B) sales because the current salesperson is planning to transfer to another location. How should this company develop a description of the job responsibilities? a. Research competitor job advertisements b. Interview marketers for ideas on competencies c. Identify what consumer sales activities involve d. Collect data on the existing performance tasks

An online retailer logs the number of customer clicks made on its website and tracks all related purchase data. The retailer takes this action to create detailed customer profiles that provide insights which are used to create personalized offerings for each customer. Which customer relationship management (CRM) strategy is the retailer using? a. Mass marketing b. One-to-one marketing c. Direct response marketing d. Relationship marketing

An online retailer logs the number of customer clicks made on its website and tracks all related purchase data. The retailer takes this action to create detailed customer profiles that provide insights which are used to create personalized offerings for each customer. Which customer relationship management (CRM) strategy is the retailer using? a. Mass marketing b. One-to-one marketing c. Relationship marketing d. Direct response marketing

There are three primary functions of a CRM system: operational, analytical, and collaborative. CRM function helps understand, predict, scale, and optimize customer interactions to strengthen customer relationships is ___________? a. Operational b. Analytical c. Collaborative

These are clients who have established an ongoing relationship with the company through its website and may or may not have a recurring order. These clients do not require contact with outside sales but do have some intermittent contact with customer service representatives via chat, email, and phone calls. a. inactive account b. passive account c. active account

These are purchases under $250,000. The purchasing procedures involve less paperwork and fewer approval levels. a. micro-purchases with credit cards b. Simplified Acquisition procedures c. sealed bid d. contracting by negotiations e. consolidated purchasing vehicles

These are the most commonly used performance evaluation system. Typically, the raters use a five- to seven-point scale to rate employees' productivity. Salespeople are assessed on specific characteristics, accomplishments, and behaviors. This is a useful method to observe improvements over time. a. behavioral checklists and scales b. graphic rating scales c. employee comparison methods

This individual typically works in the IT department and influences the buying decision at the execution level. a. economic buyer b. infrastructure buyer c. user buyer

This is an expert on a specific product or service area. They participate in sales calls, after the customer shows an interest, to demonstrate or describe the use and applications of the product or service. a. Prospector b. Technical c. Trade d. Missionary

This is one of the primary uses of predictive sales analytics. It recognizes trends in the customer journey and uses them to predict where the customer is in the sales pipeline. With the use of this function, sales managers can set priorities for the sales team in order to close more deals. a. predictive analytics b. predictive lead scoring c. predictive forecasting d. predict customer attrition e. sales performance monitoring

This practice provides a cushion in case sales are adversely affected by some unanticipated factors. a. activity quota b. overassigned c. overlay d. underassigned

A company wants to hire a new technical salesperson for business-to-business (B2B) sales because the current salesperson is planning to transfer to another location. How should this company develop a description of the job responsibilities? a. Research competitor job advertisements b. Identify what consumer sales activities involve c. Interview marketers for ideas on competencies d. Collect data on the existing performance tasks

What kind of strategic partnership includes a formal agreement between companies to share resources? a. Functional relationship b. Alliance agreement c. Minority investment d. Co-marketing agreement

A computer retailer purchases laptops without software and installs custom programs on the laptops for commercial customers.Which type of customer does this company represent? a. Reseller of finished goods for distribution b. Technology distribution consultant c. Manufacturer of consumable products d. Value-added reseller of products

When Endothon analyzes its past sales, it recognizes that their sales numbers spike around the first of September and the holiday season. They factor in all their sales data from the previous year but account for the spikes. Which forecasting technique is Endothon using when it accounts for its sales spikes? a. Exponential smoothing b. Decomposition c. Moving average d. Rollover

When forecasting the business activities of the sales department, the sales manager should review the potential ____________ of buying new equipment that will cost the department money, as well as the potential _______________ coming from the customer orders placed. a. revenue; expense b. expense; revenue c. variance; cash flow

Which action exemplifies the newcomer tactics stage using the organizational socialization model? a. Realizing the employee is satisfied with his or her role b. Recognizing that an employee seeks information c. Providing the employee with formal orientations d. Observing that an employee has a proactive personality

Which approach to forecasting is Endothon using when it engages knowledgeable consultants to offer insight? a. Sales force composite b. Expert opinion c. Delphi technique d. Executive opinion

Which business practice does relationship marketing focus on? a. Differentiating a segment of customers in a market b. Emphasizing customer retention and satisfaction c. Using the internet to mine big data from customers d. Getting a message out to as many potential customers as possible

A construction company posted a job profile to an online job board. During a 30-day period, 500 visitors clicked on the job link, and 100 prospects completed the application. Out of the 100 applicants, 20 were invited for an interview. Which measure is derived when evaluating these data? a. Applicant-to-hire ratio b. Fill rate c. Qualified candidates per hire d. Yield ratio

A consumer receives an email with an ad for a product they have never seen before and the customer then moves on without opening the ad. Which stage of the buyer's journey is illustrated by this action? a. Action b. Interest c. Desire d. Attention

A department store recently acquired a nearby shoe store and opened a new shoe department that incorporates the products and sales staff from the former store. The department store has a storewide discount offering a sizable reduction in prices. However, the shoe department also has a sales promotion that was already in place. As a result, the sales staff is having difficulty determining how to focus its efforts. What role perception issue is contributing to the sales staff's poor performance? a. role behavior b. role inaccuracy c. role conflict d. role ambiguity

A food distributor is analyzing data from their CRM to understand the status of their accounts. They are specifically looking for those customers who consistently make purchases with the company so they can offer promotional items to retain those clients. Which type of accounts is the food distributor specifically trying to identify? a. Inactive accounts b. Geographical accounts c. Passive accounts d. Active accounts

A group of marketing and sales professionals are meeting to discuss the customer experience at each stage of the purchase process. Which component is being discussed during this meeting? a. Company strategy b. Supplier bargaining power c. Competitive position d. Buyer's journey

A hair product company's vision statement is based on creating eco-friendly products and giving back to the community where each store is located. When onboarding new salespeople, the founder requires them to review and answer a brief questionnaire regarding the company's vision statement. Which purpose does the vision statement serve? a. It outlines a strategy to accomplish the sales plan. b. It describes the product sold by the business. c. It lists specific sales objectives to be accomplished. d. It declares a comprehensive purpose and how it will be distinguished from its competitors.

A large manufacturer has identified production inefficiencies due to excess movement by the manufacturing assemblers. The production manager holds a meeting with the assemblers to determine which new part bin system on the floor would improve mobility.Which stage of the organizational buying process will occur during this meeting? a. Request for proposal b. Search for suppliers c. Review the performance d. Define the need

A new salesperson observes a seasoned salesperson in order to improve client relationship-building skills. The new salesperson travels with the seasoned salesperson for one month.Which type of training is being used to prepare this new salesperson? a. Programmed instruction b. On-the-job coaching c. Lunch and learn d. Job shadowing

In which two ways is a budget used by a sales manager? Choose two answers. a. To determine where to find new customers b. To allocate company resources c. To assign a salesperson a sales territory d. To plan for employee compensation

b, d

What are two examples of competency-based analysis? Choose two answers. a. Giving sales presentations to future clients b. Knowledge of sales principles c. Answering customers' questions about products d. Able to work within a team

b, d

What are two types of tools that are part of the predictive analytics process? Choose two options. a. Demographics and firmographics b. Sales performance monitoring c. Product demonstrations d. Predictive lead scoring e. Lead nurturing

b, d

A company sales team is meeting after receiving completed sales analyses on long-term trends to determine where the company should place its marketing efforts for the next quarter. Which type of analysis did the sales team receive? a. Demographic b. Diagnostic c. Prescriptive d. Correlation

A company that sells goods for the kitchen, healthcare items, beauty products, and activewear. a. customer structure b. geography structure c. product structure

A company wants to purchase new printing equipment from a commercial supplier. The equipment is used by all business units in the company. Why should a buying center be used to make this purchase decision? a. One functional area analyzes the priority of department use. b. Consideration involves low costs and low risk of procurement. c. Multiple stakeholders evaluate and provide insights on use. d. Supplier engagement is limited in the process of acquisition.

A company wants to purchase new printing equipment from a commercial supplier. The equipment is used by all business units in the company. Why should a buying center be used to make this purchase decision? a. Supplier engagement is limited in the process of acquisition. b. One functional area analyzes the priority of department use. c. Multiple stakeholders evaluate and provide insights on use. d. Consideration involves low costs and low risk of procurement.

A company wishes to tap into the collective knowledge of industry experts to set sales quotas for an innovative product that will be launched in nine months. The company is concerned about groupthink and wants to make sure the sales forecast ideas from the less outspoken are heard and incorporated into the process in time.Which method should the company use to gather this information? a. Customer opinion b. Sales force composition c. The Delphi technique d. Jury of executive opinion

A company's chief executive officer (CEO) wants to modify the sales compensation plan to motivate salespeople to achieve the aims of customer growth and market leadership according to the company's mission.What should the CEO align the compensation plan with to achieve the desired behaviors? a. Production efforts b. Master budget c. Strategic objectives d. Human resource policy

A comparison with a competitor's similar product. - makes a product stand out as different or better than other similar products from competitors. a. cross-selling b. upselling c. differentiation

A department store is launching a new clothing brand. The brand sends a representative to help the store set up an area to display the latest apparel. Which type of salesperson is the representative from the brand? a. Prospector b. Technical c. Trade d. Missionary

A global cell phone producer sets a target to sell one million new phone models by the end of the second quarter. They send this figure to regional sales managers who in turn guide the sales teams in meeting this target. What is this target set by the company called? a. Revenue goal b. Tactical plan c. Sales quota d. Sales plan

A government agency or nonprofit group that purchases products or services to serve or sell to its constituents. a. producers b. reseller c. organization

A manufacturing company has increased efficiencies by linking its materials providers, warehouses, and distribution companies through a technology platform. Which type of network has this company created? a. Co-marketing b. Partnership c. Supply chain d. Consulting

A person who identifies and approaches suitable candidates to fill open position. a. multiple hurdle model b. multiple cutoff model c. headhunter

A popular technique for evaluating employees who are involved in jobs that have clear quantitative output is _________. a. behavioral observation scale (BOS) b. behaviorally anchored rating scale (BARS) c. Management by objectives (MBO)

A retail store that sells high-performance running shoes relies on relationship marketing with loyal customers to improve its business. Which tactic should the firm use for this marketing approach? a. Report on strategic partnerships related to marketing b. Promote its corporate social responsibility initiatives c. Advertise its marketing philosophy in its annual report d. Conduct regular free fun runs for customers

A sales manager is categorizing existing clients by recency, frequency, and monetary value. Which process is the sales manager using? a. Business development b. Pareto principle c. Marketing logistics d. Account management

A salesperson is developing a plan to improve product demonstrations. The plan will have the customers evaluate the importance of product demonstrations in order to create long-term trust and recurring sales. Which factor is the focus of the salesperson during the development of this plan? a. Customer needs b. Customer budget c. Customer lifetime value d. Customer return on investment

A sales manager is categorizing existing clients by recency, frequency, and monetary value. Which process is the sales manager using? a. Pareto Principle b. Marketing logistics c. Business development d. Account management

A sales manager sets a goal for a salesperson to sell 100 units of a product to a specific city by the end of the year. What is the sales manager describing to the salesperson? a. A job design b. A sales workload c. A territory allocation d. A sales target

A shoe retailer is evaluating the effectiveness of a recent employee training. The manager wants to know which participants need additional training. How can he do this? a. Interview participants to evaluate what they learned b. Provide participants with a questionnaire to complete c. Have participants take a standardized test d. Have participants submit a summary after each training session

A successful retailer is hiring a candidate to fill an upper management position. The retailer decides to hire an outside recruiter who will charge anywhere from 10 to 20 percent of the first-year salary once a candidate is successfully placed. However, the retailer feels this option is worth the expense. Which type of recruiter is this company using? a. Corporate recruiter b. Contingency recruiter c. Executive search firm d. Staffing firm

A tendency in which an individual favors people who are like themselves, often at the expense of those who are not. a. confirmatory bias b. leniency error c. similarity bias d. recency error

A tool that rates a salesperson based on several forms of measurements. a. assessment center b. sales analysis c. graphic rating scale

There are three primary functions of a CRM system: operational, analytical, and collaborative. CRM function involves many parties, including the customer; other internal departments such as finance, sales, and service; and other interaction points with external vendors. What CRM function is this? a. Operational b. Analytical c. Collaborative

These are clients who have an ongoing relationship with the business and have either frequent orders, large orders, or both. a. inactive account b. passive account c. active account

This happens when the salesperson is mistaken in his or her perceptions of the role the salesperson is expected to perform. a. role ambiguity b. role conflict c. role inaccuracy d. role stress

This individual decides whether the organization will achieve its financial objectives through the purchase. a. economic buyer b. infrastructure buyer c. user buyer

This is someone who calls on retailers and helps them display, advertise, and sell products to consumers. a. Prospector b. Technical c. Trade d. Missionary

Those who have experience or expertise that can help improve the buying decision. a. initiator b. users c. influencers d. buyer

Under this approach, employees receive at least a portion of their rewards as a function of their level of contribution to the organization. The greater the contribution (such as performance), the greater the reward. This mechanism is most prominent in merit-based incentive programs in which pay and bonuses are determined by performance levels. a. extrinsic rewards b. intrinsic rewards c. distributive justice

Which two components should a sales manager include in an on-the-job (OJT) training plan? a. A copy of the training participant's work history b. The time required to commute to training c. An estimated training completion date d. The number of hours the training will take

c, d

Which three evaluation types focus on benchmarks to more accurately promote constructive criticism during subjective assessments? a. Sales department suggestion surveys b. Online consumer discussion panels c. Employee self-assessments d. Informal customer feedback calls e. Behavioral checklists f. Graphic rating scales

c, e, f

What are three examples of strategic partnerships in business-to-business (B2B) transactions? (Choose three answers.) a. Two or more companies regularly buy a good or service from another company. b. Two or more companies regularly sell a good or service to another company. c. Two companies exchange tools and training to promote one another's services. d. Two or more companies purchase the same good or service at the same time. e. Two companies decide to share resources to achieve a competitive advantage. f. Two or more companies decide to work together to create one specific product.

c,e,f

sales - manufacturing variable costs - variable costs attributed to the department

contribution margin

-Using and analyzing all available information when making decisions -Helps uncover customer needs and opportunities to offer solutions a. empathy b. verbal communication c. conflict resolution d. analytical decision-making

A CRM system can improve workflows and communication between teams and employees, defining roles and responsibilities in an organization. a. improved efficiency b. customer focus c. data accessibility d. enhanced accountability

A business is initially gathering information about customer purchases, trends, and competitive data. Which customer relationship management (CRM) process cycle is this business in? a. Analysis and refinement b. Market planning c. Customer interaction d. Knowledge discovery

A company makes high-end knives for hunting. In order to contain costs, the company has representatives sell the knives at hunting shows. The representatives demonstrate the knives but do not take ownership of them. Which type of intermediary in the distribution process is being used by this company? a. Wholesalers b. Distributors c. Customers d. Agents

A sales manager wants to recruit and hire a sales candidate who fits in with the department culture. Currently the sales force is composed of males, ages 30-40, with a college education. The sales manager plans to screen out candidates who do not meet this profile. Which statute is this sales manager violating? a. Americans with Disabilities Act b. Fair Labor Standards Act c. Equal Pay Act of 1963 d. Title VII of the Civil Rights Act of 1964

A sales team is meeting to brainstorm strategies to use to win the market.Which strategy should be chosen by this team? a. Reduce the number of sales channels b. Reduce the number of support staff to reduce costs c. Measure contribution margins to include fixed costs d. Measure sales against gross profit margins

A salesperson would like to demonstrate knowledge of clients' goals in order to build sustainable relationships that generate recurring opportunities. Which activity should be used by the salesperson to achieve this result? a. Try to close deals immediately to meet targets b. Require clients to disclose budgets c. Delay sales to meet future quotas d. Focus on customer needs to generate sales

Alliah Company, which makes puzzles, is planning for the next year and has started to build its budgets. When assessing one budget, Alliah's budget director reviews its financial budgets and its operating budgets and realizes that a budget reduction is necessary given the large costs of production. Which type of budget is Alliah's budget director reviewing? a. Sales budget b. Administrative budget c. Production budget d. Master budget

An HR manager wants to evaluate how well a potential sales candidate handles rejection from customers. Which tool should the manager use? a. Aptitude test b. Structured interview c. Biographical information blanks d. Weighted application form

An administrative assistant has been asked to take calls from suppliers that are responding to the company's request for proposal (RFP). Once the suppliers have responded, the administrative assistant will pass the list of suppliers to the manager responsible for the project. How will the administrative assistant support the buying process? a. Initiating the acquisition of services b. Recommending a service provider c. Influencing the purchasing group decision d. Granting access to the buying center

An airline and a bed-and-breakfast network create an agreement to increase travel and tourism to the West Coast of the United States.Which type of relationship is described in this agreement? a. Supply chain agreement b. Consulting partnership c. Functional agreement d. Strategic partnership

An inaccuracy or flaw in performance appraisal caused by the evaluator's reliance on the most recent occurrences of the employee's behavior. Oftentimes, managers focus on a salesperson's most recent behavior in the evaluation process a. confirmatory bias b. leniency error c. strictness d. recency error

An individual who has specifications in mind for products and how they should perform for the organization. a. gatekeeper b. influencer c. initiator d. user

The process of finding solutions to difficult or complex issues. This ability helps the customer perceive that the salesperson is interested in delivering value by providing a solution that benefits the customer. a. assertiveness b. self-awareness c. empathy d. problem-solving e. optimism

The sales manager of a clothing company is creating a sales forecast based on trends. He includes all the historical data from the past five years that the company has been in business. However, he places the greatest emphasis on the numbers from the most recent period, using a decreasing weight as the observations move backward in time. Which technique is the sales manager using to forecast? a. The simple moving average technique b. The rollover technique c. The weighted moving average technique d. The exponential smoothing technique

This is someone who calls on people who make decisions about products but do not actually buy the products. For example, a pharmaceutical representative might call on a physician to provide the doctor with clinical information about a medication's effectiveness. The salesperson hopes the doctor will prescribe the drug. Patients, not doctors, actually purchase the medication. a. Prospector b. Technical c. Trade d. Missionary

This type of partnership refers to the non-controlling share in a company held by another organization or an investor. A minority investment normally is less than 50 percent of the total shares of the organization. a. alliance agreement b. Joint R&D agreement c. Co-marketing agreement d. Minority investments

What is adaptive selling? a. A sales approach in which selling is centered on the company's presenting their products or services to make a quick sale b. A sales approach that focuses on using a traditional method of communicating to a person or situation c. A sales approach in which the salesperson quickly sells the product after meeting face-to-face with the customer d. A sales approach that focuses on tailoring the selling style to the customer's behavior

What is an advantage of a company having a salary compensation method? a. It results in substantial discounting to increase sales. b. It creates internal motivation to excel. c. It helps attract top-performing employees. d. It provides stability and security for employees.

What is an example of an order taker? a. Software salesperson b. Retail store clerk c. Customer service representative d. Car salesperson

What is an intermediary? a. Businesses that sell goods to the public in relatively small quantities for use or consumption rather than for resale b. People or businesses that act as an extension of a manufacturing company and makes their profit through fees c. Businesses that sell goods in large quantities at low prices, typically to retailers d. People or businesses that connect buyers and sellers together as a conduit for goods or services in the supply chain

Predictive sales analytics assist sales managers in customizing their coaching strategy with their sales team. After identifying shortcomings, sales managers can use analytics to measure and analyze future events from which they can help salespersons overcome their shortcomings and achieve their targets. a. predictive analytics b. predictive lead scoring c. predictive forecasting d. predict customer attrition e. sales performance monitoring

The knowledge, skills, and abilities that the job requires. a. job description b. job analysis c. job design d. job specification

The person who signs the purchasing contract. a. initiator b. users c. influencers d. buyer

Estimated overhead / Estimated base units or cost driver

Activity Rate

Actual amount of activity cost driver × Activity rate

Applied Overhead

What is the third stage of the business-to-business (B2B) buying process? a. Complete a bid analysis b. Search for suppliers c. Complete a performance review d. Recognize the need

- Labor Force - Government regulations - Technology changes - Competition - Legal and political changes - Social and cultural changes a. external forces b. internal forces

- Also called absorption costing - Considers every cost incurred by the business - Direct costs are traced to their cost objects - Indirect (overhead) costs are allocated - Considers all the costs associated with business activities a. Full Product Costing b. Activity-Based Costing

- Gain access to more buyers - Access to more markets - Can be less expensive - Access to larger talent pool - Lower labor costs. Less money spent on benefits and training. a. outsourcing benefits b. outsourcing drawbacks

A canned goods company has found that its current individual incentive program is not helping drive sales. As a result, the owners have decided to switch to a group incentive program instead. What is one reason an individual incentive plan can be less effective? a. Individual plans can lead to aggressive sales tactics. b. Individual plans are more difficult to distribute. c. Individual plans only offer annual rewards. d. Individual plans often fail to motivate employees.

A chief executive officer (CEO) plans to build a new factory that will last over 20 years.Which type of budget must the CEO prepare for this project? a. Capital b. Sales c. Operations d. Incremental

A company has requested that the economic buyer analyze a prospective business-to-business (B2B) purchase. How will this economic buyer support the buying process? a. Linking the product purchase to company profitability b. Evaluating which supplier accesses the purchasing group c. Identifying the need for the product purchase d. Reducing time to make the product purchase decision

A company operates in many different countries and has organized the sales teams based on the defined areas that will cover customers. Which organizational structure is this company utilizing? a. Geographical b. Product c. Centralized d. Customer

A company sales team is meeting after receiving completed sales analyses on long-term trends to determine where the company should place its marketing efforts for the next quarter. Which type of analysis did the sales team receive? a. Prescriptive b. Correlation c. Demographic d. Diagnostic

A company seeks to expand into new consumer markets in the western United States. It has chosen to use U.S. Census data to help segment customers. Which relevant information will the company gain from the Census that aids in its expansion and segmentation efforts? a. Demographic traits of potential customers b. Past buyer behavior of potential customers c. Predicted future buyer behavior of potential customers d. Psychographic traits of potential customers

A company that sells industrial equipment to a variety of restaurants in an area. a. customer structure b. geography structure c. product structure

A company wants to develop a 360-degree customer view of its online purchasing experience. How should the company achieve this goal? a. Review social media interactions b. Perform a product quality audit c. Analyze call center volume d. Hire a website developer

A company would like to advertise a job, and the goal is to obtain the best candidate possible, regardless of the amount of time it takes. Which action must occur first during this process? a. Identify the sales tasks b. Select a search committee c. Create a weighted selection instrument d. Review applicants' resumes

A company would like to identify how effective their salespeople have been at analyzing and earning business in their territories over the last several years. Which type of ratio category should the company use for this purpose? a. Account development b. Expense c. Call activity d. Job knowledge

A consumer sees an ad for a new product on the internet and does some research to learn more about the product. Which stage of the buyer's journey is illustrated by this action? a. Interest b. Desire c. Attention d. Action

A customer is purchasing a pair of sneakers from an online store. He recently heard about the product from a professional athlete's endorsement, and he believes the sneakers must be high quality if this particular celebrity is promoting them. Which of the four main factors has influenced the behavior of this consumer? a. Social factors b. Personal factors c. Object factors d. Situational factors

A customer's gender, age, or other demographic information. a. personal b. object c. situational d. social

A formal agreement among companies who want to share resources to create a competitive advantage. Although the companies have a formal agreement, they remain independent businesses. a. alliance agreement b. Joint R&D agreement c. Co-marketing agreement d. Minority investments

A local bike shop wants to start selling road bikes that are manufactured by a high-end bicycle manufacturer. Shortly before the contract is to be signed with the manufacturer, the sales representative leaves the company, and another sales representative is assigned. The contract is eventually signed, but the negotiation process is drawn out an extra month due to the change in sales representatives. Which level of complexity is the cause of the delay in signing this vendor contract? a. Timing b. Technical c. Production d. Individual

A new ice cream shop wants to capitalize on the fact that it makes all of its flavors in house and sources its products from local suppliers. The owners decide they need to offer current and potential customers a clear, compelling, and differentiating message. Which type of communication is this ice cream shop aiming to develop? a. Value proposition b. Consultative selling c. Value perception d. Relationship selling

A new telecommunications company is struggling with retaining sales personnel beyond a year of employment. Exit interview data indicate that the former employees felt that their personal and professional growth was inadequately supported, and they lacked opportunities to interact with other experienced personnel. As a result, sales numbers plummeted. Which approach to professional development should this company adopt to encourage employee retention? a. Mentoring b. Lesson study c. Facilitated learning d. Technical assistance training

A publisher is developing a brand new biology textbook, and the sales team has begun to sell it. William, a salesperson who has worked for the publisher for nearly two decades, uses a CRM to look up his list of contacts. He calls Maya, a professor at a local community college. Every semester, she makes decisions on textbooks and looks at various options. She is the only person at the school who has adopted books from William and the publisher in the past. She and he start the call with a friendly chat and then begin discussing the details of the new book. He answers all of her questions. At the end of the call, she agrees to use the book. At this point, she will instruct her students to purchase it. What has William used to maintain a good relationship with this account? a. KAM b. Distribution channel c. TOFU d. Pareto principle

A publisher is developing a brand new biology textbook, and the sales team has begun to sell it. William, a salesperson who has worked for the publisher for nearly two decades, uses a CRM to look up his list of contacts. He calls Maya, a professor at a local community college. Every semester, she makes decisions on textbooks and looks at various options. She is the only person at the school who has adopted books from William and the publisher in the past. She and he start the call with a friendly chat and then begin discussing the details of the new book. He answers all of her questions. At the end of the call, she agrees to use the book. At this point, she will instruct her students to purchase it. Which step in the sales process occurred when William called Maya and began a friendly chat? a. Approaching b. Prospecting c. Following up d. Presenting

A publisher is developing a brand new biology textbook, and the sales team has begun to sell it. William, a salesperson who has worked for the publisher for nearly two decades, uses a CRM to look up his list of contacts. He calls Maya, a professor at a local community college. Every semester, she makes decisions on textbooks and looks at various options. She is the only person at the school who has adopted books from William and the publisher in the past. She and he start the call with a friendly chat and then begin discussing the details of the new book. He answers all of her questions. At the end of the call, she agrees to use the book. At this point, she will instruct her students to purchase it. Which type of account is the community college where Maya works? a. Passive b. Pareto c. Inactive d. Active

A sales manager develops a forecast so executive leadership will be able to allocate budgets throughout the company's departments.Which task is the sales manager performing? a. Identifying expected revenue for budget allocations b. Monitoring allocation of sales budget c. Setting limits for performance incentives d. Establishing performance quotas for sales force

A sales manager is analyzing the aims and values of the organization before developing the sales plan.Which action is the sales manager taking? a. Reviewing mission statement b. Formulating planning process c. Developing strategic analysis d. Performing management review

A sales manager is being criticized for using management by objectives (MBO) for the evaluation of salespeople. Why is the manager being criticized for this practice? a. It places too little emphasis on qualitative job knowledge. b. It places too little emphasis on quantitative performance standards. c. It places too much emphasis on competitive benchmarks d. It places too much emphasis on team-based competition

A sales manager is developing a training session to improve a salesperson's ability to understand the concept of account development. The sales manager needs to know how much experience the salesperson has had with account development. Which type of training needs assessment should the sales manager conduct? a. Individual b. Organizational c. Customer d. Occupational

A sales manager is implementing a relationship-building strategy to retain existing customers. This strategy will incur costs as it requires sales representatives to spend more time with each customer to understand their needs and develop tailored solutions that will result in sales. Which measure should the sales manager use to calculate the costs of this strategy relative to the increase in sales generated by the strategy? a. Return on investment (ROI) b. Value proposition c. Customer lifetime value (CLV) d. Value exchange

A sales manager wants to evaluate the performance of the sales team's ability to move buyers along the sales funnel toward final purchase. How should the sales manager evaluate the sales team? a. Analyze conversion ratios b. Review new opportunities c. Count total demonstrations. d. Measure hours in meetings

A sales manager wants to hire a business-to-business (B2B) salesperson who will contact prospective clients, meet with them to learn about their business needs, and propose which of the company's technology products would provide an optimal solution. Which element of a task-based job analysis should be assessed for this sales position? a. Giving product presentations to clients b. Developing product loyalty programs c. Reviewing social media analytics d. Posting website content for buyers

A salesperson has worked for a manufacturing firm for five years. Recently, the company has increased pressure on salespeople to make sales and has changed the pay structure from salary plus commission to just commission. What will be a result of the increased pressure on salespeople to make sales? a. Turnover b. Self-awareness c. Role inaccuracy d. Role conflict

A salesperson is asked to account for the amount invested in a recent trade show. The salesperson determines the specific hours associated with each established expense type that the sales department uses for accounting purposes. Which action is this salesperson taking? a. Identifying cost drivers and assigning costs b. Analyzing sales close-rate statistics c. Calculating account development rates d. Determining the effectiveness of sales activities

A salesperson is demonstrating a product and explains how the item will add value to the customer's manufacturing operations. The difference between the price the customer will pay and the improvement in manufacturing will result in a threefold increase in production efficiency. a. Return on investment b. Customer lifetime value c. Customer needs d. Product cost

A salesperson was just given a new account to service. She decides that before going to meet the client, she will research the client's website, find out information about the company contact on social media, and look at CRM data to see what the client activity has been in the last few months. What essential skill is this salesperson utilizing? a. Research b. Critical thinking c. Building rapport d. Time management

A shoe company has had difficulty attracting salespeople at a time when apparel sales are volatile. Potential employees are worried about maintaining a stable income. How can the company improve its compensation package to attract new salespeople? a. The store should set up a hybrid wage system. b. The store should offer more perks, such as travel tickets. c. The store should establish contests and other incentives. d. The store should offer sign-on bonuses and straight commission to all employees.

Creating a forecast based on the sales potential of a product. - collects information on the potential of a brand within a product category to determine how well it will sell in the future. a. market testing b. customer opinion c. sales force composite d. jury of executive opinion

Customer Relation Management (CRM) goals include customer retention, customer acquisition, and customer profitability. Which CRM goal captures new leads and moves them through the sales process? a. Customer acquisition b. Customer retention c. Customer profitability

Customers that require more resources to serve and generate lower revenue. - Is in the customer classification matrix are the least profitable as they want highest quality at lowest prices. a. aggressive b. bargain basement c. passive d. carriage trade

Daniel recently moved to a new city and receives a brochure in the mail from Freedom Rock Bicycles that says "welcome to your new home" and offers a discount on his first tune-up. He finds their offer to be attractive and brings his bike to the shop. A week after he brings his bike home, Freedom Rock emails Daniel a survey asking about his experience, which he answers. A year later, he is sent an automated email reminder for an upcoming tune-up. However, unlike other customers, Daniel does not receive an email about a sale on new bikes, because he indicated in the survey that his bike is only one year old. Where should Freedom Rock Bicycles place the information from Daniel's survey? a. Data warehouse b. Company website c. Dashboard d. Intranet

Divide the forecasted sales volume by the average productivity of one sales representative. # of sales personnel needed = forecasted sales volume/estimated productivity of 1 sales rep. a. breakdown method b. workload method c. incremental method

During the sixth stage of the business-to-business (B2B) process, a merchandising buyer places a product order electronically. The buyer receives the product three weeks later. Which action will the buyer take after receiving the product? a. Review performance b. Define needs c. Analyze bids d. Choose a supplier

Encourages employees to make a strong selling effort. a. commission b. mixed c. salary

Forecasting Methods - Subjective - Use expert opinion and judgement - Used when consumer buying habits have changed, current data is not available, or there is a long-term planning horizon - Watch for bias, peer pressure and secondary gain a. qualitative method b. quantitative method

How can a return on assets managed (ROAM) report be used by a sales manager? a. To evaluate proposals of a sales strategy b. To determine overhead costs of the sales department c. To understand a customer's potential profitability d. To decide which sales tactic should be used with a customer

How can marketers present customer relationship management (CRM) data for understanding and analysis? a. Dashboard metrics b. Gantt chart presentation c. Business model canvas d. Process re-engineering

How does personal selling offer an advantage over other forms of promotion? a. Personal selling provides a detailed sales message that is adapted to the interests of each customer. b. Personal selling conveys only a message that is consistent with the promotional mix. c. Personal selling helps coordinate and monitor the results of using a promotional mix. d. Personal selling is cheaper than advertising as it provides a general message targeted at multiple customers.

How is Freedom Rock Bicycles demonstrating customer relationship management (CRM) when it sends Daniel a welcome brochure in the mail? a. Customer acquisition b. Customer preference c. Customer retention d. Customer profitability

How is distributed computing used in sales and marketing? a. Integrating data across multiple file systems b. Storing structured data in relational databases c. Using algorithms to make decisions based on data d. Tracking customer purchasing data using web analytics

How should a company develop quota methods to provide a cushion for meeting company goals? a. By overassigning quotas for the sales staff b. By overlaying quotas for the sales staff c. By using activity quotas for the sales staff d. By using direct quotas for the sales staff

How should a company use buyer demographic data to execute one-to-one marketing using customer relationship management (CRM)? a. Create personalized marketing experiences b. Generate reports on brand quality improvements c. Identify competitor approaches to customer acquisition d. Respond to new market entrants in industry

How should a company use customer relationship management (CRM) to have a customer-centric approach to all business activities? a. By sharing risks and rewards in a relationship business model b. By maximizing company revenues through standardizing products c. By providing the same promotional messages across all target segments d. By pushing the company message to all product consumers

How should a sales organization compare a salesperson's performance to the opportunities the salesperson faces? a. Using a win-loss analysis b. Using customer acquisition cost c. Using activity goals d. Using key performance indicators

Jack has been selling cars for a car dealership for many years. A long-time customer named Omar walks into the dealership. Jack is surprised to see Omar, despite his being a loyal customer, since his most recent purchase occurred under two years ago. After the two talk for a while, Omar explains that he does not really need a new car, but he recently got a nice promotion at work and is thinking about upgrading. Although he is happy with his SUV, he wishes he had a car that gets better gas mileage. Jack explains that the dealership offers several cars that get better mileage than the SUV. He asks a variety of questions to gain a good understanding of Omar's exact needs. Having come to know Omar over the years, Jack understands Omar's social style well. He explains to Omar the pros and cons of various car models, delineates the facts, and clearly describes how the different options will serve him. At the end, Jack suggests one model in particular. What is Jack demonstrating when he explains the gas mileage of various models? a. Ethical behavior b. Customer loyalty c. Psychological reciprocity d. Business intelligence (BI)

Lease and rent payments, utilities, some salaries, and interest payments are examples of: a. fixed costs b. variable costs

Michael is a salesperson who works for a company that sells headlights to car manufacturers. He is part of the company's top sales team in the country. He recently completed a sale with a large car company to provide lights for all the vehicles in one of their lines. His next paycheck reflected both the sale and the amount he is guaranteed. After seeing the amount on the check, he smiles and tells his friend how happy he is to work for a company that respects his contributions. He expects to receive a bonus at the end of the year as well because he met his objective to sell a specific type of headlight to a large car company. A week later, to his surprise, he receives the Salesperson of the Year award in recognition of his accomplishments. What did the company's reward system influence, as determined by Michael's reaction to his paycheck? a. Job satisfaction b. Attendance and retention c. Occupational and organizational choice d. Job effort and performance

Refers to how comprehensively the measure assesses the underlying construct that it claims to assess. a. content validity b. construct validity c. criterion validity

Retailers often refer to their buyers as ______________, and most of the workers who do this job are responsible for _____________. a. merchandiser; securing new manufacturing products for the retailers b. traders; securing new customer for the retailer c. financer; securing new investment account for the retailers

Rewards are distributed to ensure that employees with the same job classification receive similar compensation. a. equality b. power c. distributive justice d. performance appraisal

Role perceptions refer to the ___________ of a salesperson and are likely ______________ from company to company. a. expectation; vary b. performance; remain the same c. revenue; be applied

Sales activities that lead to fulfilling a sales task, such as number of days worked, calls made, or emails sent to prospective customers. a. Inputs b. Outputs

Shows the relationship between a business's costs and its sales. a. expense ratio b. account development ratio c. call activity ratio

Sparkit is a company whose sole business is producing light fixtures for restaurants. Ren Martin is one of the five sales representatives who work for Sparkit, specifically assigned to national chain restaurants, and reporting only to the national sales director. The chain Orange Zest Café recently reached out to him in need of a vendor to produce light fixtures for an upcoming expansion. Ren reaches out to Sparkit's product manager, Mateo, to suggest a potential deal that requires Sparkit to design and manufacture ten thousand light fixtures within one year. Mateo appreciates the suggestion but replies that it is not feasible since current staff capacity is limited and the chief executive officer (CEO) has mandated that any new business should be limited to small projects only. Although Ren does push back, Mateo affirms the decision is final and no further negotiations are possible. Ren, as frustrated as he has ever been while employed by Sparkit, goes to the gym after work. The next day, Ren wakes up feeling better and breaks the bad news to Orange Zest Café. Ren hopes to get future business from Orange Zest Café, so he encourages them to explore different options from a Sparkit competitor and provides a recommendation to speak to a salesperson he personally knows who will provide good service. What degree of centralization exists within Sparkit? a. High b. Medium c. None d. Low

Synesthor, a tech company specializing in cybersecurity, has launched a multichannel campaign to sell version 3.0 of its software called Wistopro. One of its sales methods includes emailing business-to-consumer (B2C) customers who purchased version 2.0 a year ago, but not all of them. The customers who do receive an email had visited the Synesthor website at least six times within the past year. Frequent customers received a different version of the email, offering additional products. The email campaign is very successful, convincing 5 out of 100 email recipients to make a purchase; and the number of sales of version 3.0 is outnumbering the sales of version 2.0. Which type of data from the 360-degree view of the customer did Synesthor capture by recording the number of website visits? a. Behavioral data b. Internal data c. Fit data d. Firmographic data

Talia was just hired to join the sales department at Bullzai, Inc, a telecommunications hardware company that sells antennae to cell phone service providers. In her first week on the job, she attends a training course where she learns about the different antennae they offer. The course had been designed several years earlier when the company conducted an analysis to determine which skills, knowledge, and abilities its employees needed for Bullzai to meet its strategic objectives. Talia learned a lot in the course, giving a significant amount of the credit to her instructor for using interactive strategies like role play, games, and breakout discussions. Six months after completing the training, her sales figures are 20% better than they were for new hires of the sales department five years ago before the training program was implemented. Other salespeople who took the course also have strong numbers. Which level of the return on investment (ROI) methodology is applicable when analyzing the sales figures of Talia and her classmates? a. Business impact b. Reaction and planned action c. Learning d. Return on Investment

Teachable abilities or skill sets that are easy to quantify. Typically, you will learn hard skills in the classroom, through books or other training materials, or on the job a. hard skills b. power skills

The chief financial officer (CFO) for a Fortune 500 company requests company data for the past five years. The CFO uses business intelligence to develop a number of reports to determine areas where the company can cut costs and to determine departmental budget allocations for the coming year. Which aspect of business intelligence is being used during this process? a. Decision-making b. External business research c. Collaboration d. Business process management

The financial budgets as well as the operating budget. a. master budget b. sales budget c. production budget d. selling and administrative budget

The organizational decision process frequently spans a long period of time, which creates a significant lag between the marketer's initial contact with the customer and the purchasing decision. - When personnel change, go on leave, or get reassigned to other projects, the decision process can take even longer, as new players and new priorities, or requirements, are introduced. a. timing complexity b. technical complexity c. organizational complexity

The people in the organization who first see the need for the product. a. initiator b. users c. influencers d. buyer

The person who makes the final purchasing decision. a. decision maker b. gatekeepers c. initiators d. users

The sales executive team for a television station is developing a sales compensation budget for its new sales staff.Which guidelines should the sales executive team follow to ensure its efforts are successful? a. Make incentive payouts contingent on actual sales b. Base sales compensation budgets on complex calculations to keep salespeople honest c. Make incentive payouts contingent on client good faith d. Base sales compensation budgets on variables that affect a single department

The sales manager of a fast-food chain is creating a sales forecast based on trends. Sales have been very steady for the past year. As a result, she has decided to copy the results directly from the previous period into the next period to create the forecast. Which technique is the sales manager using to forecast? a. The rollover technique b. The moving average technique c. The exponential smoothing technique d. The weighted moving average technique

The tendency to search for or interpret new information in a way that confirms a person's pre-existing beliefs. a. confirmatory bias b. leniency error c. strictness

The various forms of data, including structured and unstructured forms. a. variety b. velocity c. volume

There are three primary functions of a CRM system: operational, analytical, and collaborative. Which CRM function includes primary activities that result in actual customer interaction (integrating sales, marketing, and customer support to ensure that customer satisfaction is as high as possible)? a. Operational b. Analytical c. Collaborative

These are clients who made a one-time purchase or have not made a purchase for a specified period. This time period is established by each business according to its goals. a. inactive account b. passive account c. active account

These are purchases under $10,000, which do not require competitive bids and a procurement officer. Government agencies pay using a government purchase credit card. This type of purchase makes up 70 percent of all government purchases. a. micro-purchases with credit cards b. Simplified Acquisition procedures c. sealed bid d. contracting by negotiations e. consolidated purchasing vehicles

This individual purchases products from other companies that can help the organization to achieve a business advantage. a. economic buyer b. infrastructure buyer c. user buyer

This is a salesperson whose primary function is to find potential customers. The potential customers have a need, but for any number of reasons, they are not actively looking for products to meet those needs. Perhaps this is because they lack information about where to look for them or simply have not had the time to do so. They often knock on a lot of doors and make a lot of phone calls a. Prospector b. Technical c. Trade d. Missionary

To motivate their salespeople, Endothon sets quotas that will necessitate each person to bring in 50 new accounts. Which type of quota has Endothon set for its salespeople? a. Activity b. Revenue c. Combination d. Volume

Tracking new opportunities helps measure the strength of the sales pipeline. Sales managers can measure the number of opportunity calls, new opportunities added, and the number of proposals sent, acted upon, and approved. a. new opportunities b. prospecting c. product demonstration d. meetings and calls

Trained professionals' observing scenario-based situations and judgments made based on pre-planned exercises. a. assessment center b. sales analysis c. graphic rating scale

Typically, the manger is asked to rate each behavior on a scale from 1 to 5 to indicate the frequency with which the salesperson exhibits the behavior. Evaluation of a saleperson's performance on a particular dimension is derived by summing the frequency ratings for the behaviors in each dimension. a. behavioral observation scale (BOS) b. behavioral anchored rating scale (BARS)

Variations in the number and dynamics of the sales team can significantly impact sales results. For instance, if a salesperson leaves, sales will probably decrease until he or she is replaced and the new salesperson gets trained. a. Personnel changes b. economic conditions c. competitor changes d. product changes

What happened? a. descriptive analytics b. diagnostic analytics c. predictive analytics d. prescriptive analytics

What is an example of an order getter? a. Software salesperson b. Retail store clerk c. Customer service representative d. Car salesperson

What is the difference between power skills and hard skills? a. Power skills are personal attributes that help people effectively interact with others. Hard skills are abilities that are easily measurable. b. Power skills consist of product knowledge and software skills. Hard skills consist of verbal communication skills and analytical decision-making. c. Power skills are the technical skills necessary for effective decision-making. Hard skills are specific social skills necessary for building effective relationships. d. Power skills are easily measurable analytical abilities. Hard skills are technical abilities that are difficult to measure.

Showing a potential customer a more high-end version of a product than the customer is intending to purchase. - encourages a customer to buy a more expensive product and to spend more to increase the profitability of the sale. a. cross-selling b. upselling c. differentiation

What is the purpose of a professional and organizational code of ethics? a. To provide expectations in terms of responsibilities and behavior toward fellow employees and professionals, customers, and suppliers b. To justify the enactment of consumer protection laws due to the unfair advantage businesses have over customers who are unable to distinguish the nuances of complex contracts c. To illustrate examples of poor business behavior that can create a very negative image for a company, increase its expenses, and result in bankruptcy and jail time for the offenders d. To provide a set of standards that outline conflicts of interest that may occur when the potential for personal gain may influence the decisions of employees or government officials

What is the purpose of market segmentation in the customer relationship management process? a. It is the appropriate use of marketing messages to specific groups. b. It is effective manufacturing of new products into an emerging market. c. It is the thorough implementation of marketing budgets for competitive firms. d. It is the correct development method for creating warranties for new products.

What is true of a sale in which the customer has an extended problem-solving mindset? a. The customer is concerned with both quantitative and qualitative assessments of the product. b. The customer is swayed directly by advertising and promotion. c. The salesperson can expect to close the sale during the first interaction. d. The salesperson should focus on the product, not the benefits it provides the customer.

What occurs during the performance review and feedback stage in the organizational buying process? a. Measurement of user satisfaction against expectations b. Identification of supplier suitability for product quality c. Creation of specifications for product needs d. Solicitation of requests for proposal from producers

Which action occurs during the approach phase of the sales process? a. A salesperson makes an introduction to the buyer. b. A customer service representative addresses post-sale issues. c. A product's features are presented and described. d. A sales deal is negotiated with respective terms.

Which business practice is essential to creating one-to-one marketing? a. Creating a marketing database with customer information b. Investing in a large advertising budget c. Using multiple touchpoints to interact with customers d. Educating staff to be knowledgeable of the company website

Which key performance indicator is measured by the comparison of the increase in gains from one product and a decrease in a similar product? a. Cannibalization rate b. Average purchase value c. Customer acquisition cost d. Sales growth

Which method of customer feedback is Maya's boss using when he conducts an in-person meeting with one of her customers? a. Account visit b. Convention c. Peer assessment d. Business review

Shows the effectiveness of a salesperson in developing a sales territory. a. expense ratio b. account development ratio c. call activity ratio

Which part of the customer relationship management (CRM) process focuses on the development of strategies and processes directed by the knowledge discovery phase? a. Market planning b. Analysis and refinement c. Customer interaction d. Knowledge discovery

Which recruiting method is the human resources (HR) department alluding to for attracting candidates who will be more loyal and satisfied if hired? a. Referrals b. Job fairs c. Advertisements d. College recruiting

Which situation would lead to role conflict? a. A salesperson reports to two teams with very different demands. b. A sales manager fails to communicate revenue expectations to her team. c. A salesperson is unaware of a promotion in his department and fails to mention it to customers. d. A sales manager is unsure of the quality standards in his department.

Why does Maya's boss gather feedback from five of her colleagues--People working below and beside her—to provide feedback? a. To understand from all perspectives how Maya is performing b. To determine why Maya has been underperforming c. To eliminate the need for other forms of data gathering d. To find reasons to give Maya a job promotion

Why does an organization use key performance indicators (KPIs) in customer relationship management? a. To assess success in dealing with customers b. To track total cost of marketing overhead c. To convert potential customers into actual customers d. To determine an advertising budget

Why should a manager use a graphic rating scale during a performance appraisal of an employee? a. It provides both subjective and objective information about the salesperson's performance. b. It keeps an accurate record of a salesperson's successes. c. It allows for the majority of people to be rated in the middle of the scale. d. It considers general categories of employee behaviors.

Yearly sales figure, total revenue generated, amount of calls made are examples of: a. objective b. subjective

___________ can be done between factors to determine relationships between factors, under the assumption that if factors are genuinely related to the sale of a product, then a past relationship would have existed. a. correlation analysis b. sales analysis c. past performance analysis

___________ can be used to make forecasts of likely sales outcomes based on data from a variety of sources, including ______________. a. predictive analysis; social media b. lead nurturing; marketing plan c. cross-selling; stock reports

____________ are external to the work itself. They are administered externally—that is, by someone else (usually management). Examples of extrinsic rewards include wages and salary, fringe benefits, bonuses, promotions, and recognition and praise from others. a. extrinsic rewards b. intrinsic rewards c. distributive justice

_____________ are financially attractive and lead to improved performance; However, aggression can develop within a sales team, and burnout can occur due to stress. a. straight commission b. substantial salaries c. hybrid wage system

_____________ happens when the activities and responsibilities required of salespeople in their role are unclear to them. a. role ambiguity b. role conflict c. role inaccuracy d. role stress

______________ is a sales strategy that involves focusing on achieving quick sales without a significant attempt to form a long-term customer relationship. Relationship selling focuses on having sales representatives form well-established associations with consumers to promote repeat purchases. a. transactional selling b. relationship selling c. adaptive selling d. the social style matrix

provides a variety of tools to sales managers to help them set objectives and priorities for their sales teams. Equipped with these tools, the sales manager can make better-informed decisions and develop strategies that lead to higher ROI. a. predictive analytics b. predictive lead scoring c. predictive forecasting d. predict customer attrition e. sales performance monitoring

The speed at which data are sent and collected. a. variety b. velocity c. volume

A sales manager has been hired for a sporting goods store that recently opened in a shopping mall. The store sells a mix of sporting equipment that would be useful for any customer along with high-end, specialty sporting goods. What are two tasks the sales manager should perform to develop the best sales force for the store? Choose two answers. a. Provide incentives and information support for all team members. b. Design a reporting structure that helps coordinate sales activities. c. Encourage salespeople to work independently from the marketing staff. d. Give salespeople leeway to define their role perceptions.

a, b

A small furniture company is planning to recruit entry-level salespeople for two of its locations in the local area during a 90-day time frame. The company has a very limited budget for recruitment. Which two recruiting methods should the HR manager implement to obtain desired results? Choose two answers. a. Advertise on social networking sites. b. Submit job profiles to relevant online job boards. c. Enlist the support of an executive search committee. d. Utilize an outside recruiting firm.

a, b

Which two benefits are related to outsourcing sales efforts? Choose two answers. a. Lower human resource expenses b. Improved quality control of sales services c. Availability of selling to more markets d. More regulation over which products are sold

a, c

The HR team works collectively to select candidates for an upper level management position. The team has decided not to use a clinical selection approach. In an effort to avoid personal stereotypes while interviewing the candidates, careful criteria are set that detail skills, qualities, and characteristics, which are weighted for the particular job. Which selection models should this HR team consider developing? a. Multiple cutoff model b. Contingency hiring model c. Weighted model d. Compensatory model

a, d

Which two are direct advantages of sales training for an organization? Choose two answers. Improves customer relationships Conserves company resources Increases employee benefits Increases employee morale

a, d

An organization with an innovative approach to cyber-security learns from its analytics team that 83% of prospects who sign up for a product demo result in purchasing and keeping the software for at least a year. However, only 12% of prospects are signing up for this demo. How should the organization use this data? a. Revisit the techniques used at the product demo b. Increase advertising and promotion of the demo c. Implement a customer retention program for current users d. Reduce the price of the software to increase sales

Based on the completion of certain tasks, such as landing new clients or booking deals. a. profit/revenue quota b. activity quota c. volume quota

Business-to-business (B2B) marketing most often includes the use of _____________ to encourage buyers to make decisions, and the selling process is ______________the process for consumer purchases. a. billboard; shorter than b. presentation; longer than c. radio advertisement; same length as

Business-to-business (B2B) salespeople are more likely to have a ______________ compensation structure. Business-to-consumer (B2C) salespeople are likely to take part in contests due to the ____________ volume of sales. a. incentives; limited b. salary; high c. commission; low

Calculate the total workload after considering the frequency and length of each call and then divide the total based on the time each sales representative has available. # of sales reps= NCxFCxLC/TA NC= number of customers FC= Average of frequency LC= Average Length of customer calls TA= Time an average sales rep has available for selling per year. a. breakdown method b. workload method c. incremental method

Calculate the total workload after considering the frequency and length of each call and then divide the total based on the time each sales representative has available. a. breakdown method b. workload method c. incremental method

Computations that allow an employee's sales activities to be measured. a. assessment center b. sales analysis c. graphic rating scale

Conscious knowledge of one's own character, feelings, motives, and desires. Identifying personal emotions and biases can help the salesperson relate to the customer in a way that builds trust and solid relationships. a. assertiveness b. self-awareness c. empathy d. problem-solving e. optimism

Creating a forecast based on surveys. - gather the opinion of customers can help determine the demand for a product in the future. a. market testing b. customer opinion c. sales force composite d. jury of executive opinion

Customer Relation Management (CRM) goals include customer retention, customer acquisition, and customer profitability. Which CRM goal supports and manages relationships with the current customer? a. Customer acquisition b. Customer retention c. Customer profitability

Customer relationship management (CRM) systems often include a ___________, which may include top sales performers, and this type of information is likely to lead to ______________ for the sales team. a. case study; marketing campaign b. dashboard; greater accountability c. marketing plan; fewer customers

Customers that generate lower revenue but require fewer resources to serve. - in the customer classification matrix result in less profit as they are price sensitive but are easy and less expensive to serve by requiring fewer resources. a. aggressive b. bargain basement c. passive d. carriage trade

Daniel recently moved to a new city and receives a brochure in the mail from Freedom Rock Bicycles that says "welcome to your new home" and offers a discount on his first tune-up. He finds their offer to be attractive and brings his bike to the shop. A week after he brings his bike home, Freedom Rock emails Daniel a survey asking about his experience, which he answers. A year later, he is sent an automated email reminder for an upcoming tune-up. However, unlike other customers, Daniel does not receive an email about a sale on new bikes, because he indicated in the survey that his bike is only one year old. How is Freedom Rock Bicycles demonstrating customer relationship management (CRM) when it sends Daniel a welcome brochure in the mail? a. Customer retention b. Customer acquisition c. Customer profitability d. Customer preference

Forecasting Methods - Objective - Use statistical analysis and historical data - Provides information on consumer trends, and the response of sales to competitor actions and environmental changes - Data may be dirty, corrupt or noise a. qualitative method b. quantitative method

How does big data support the customer relationship management (CRM) process? a. It replaces traditional market research. b. It reveals customer buying behavior. c. It increases the need for customer service. d. It decreases marketing research expenses.

How has the use of the internet and social media changed the selling process? a. The internet and social media have created an environment where information is exclusive to the buyer. b. The internet and social media ensure that each step now includes increased collaboration between buyers and sellers. c. The internet and social media have created an environment where information is exclusive to the seller. d. The internet and social media have made collaboration between buyers and sellers more difficult since there is so much available information.

In a __________ purchaser buys the same product in the same quantities from the same vendor. a. new task purchase b. straight buy c. modified rebuy

In a(n) ____________, a buyer continues to purchase a product from a seller out of habit, while in a(n) ______________ a buyer expects a certain level of expertise from a seller and is unlikely to make a purchase without it. a. strategic partnership; functional relationship b. functional relationship; affiliative selling relationship c. affiliative selling relationship; strategic relationship

It exists when a salesperson perceives that the expectations of others for his or her role performance are incompatible. a. role ambiguity b. role conflict c. role inaccuracy d. role stress

Jack has been selling cars for a car dealership for many years. A long-time customer named Omar walks into the dealership. Jack is surprised to see Omar, despite his being a loyal customer, since his most recent purchase occurred under two years ago. After the two talk for a while, Omar explains that he does not really need a new car, but he recently got a nice promotion at work and is thinking about upgrading. Although he is happy with his SUV, he wishes he had a car that gets better gas mileage. Jack explains that the dealership offers several cars that get better mileage than the SUV. He asks a variety of questions to gain a good understanding of Omar's exact needs. Having come to know Omar over the years, Jack understands Omar's social style well. He explains to Omar the pros and cons of various car models, delineates the facts, and clearly describes how the different options will serve him. At the end, Jack suggests one model in particular. In which stage in the buyer journey is Omar? a. Attention b. Interest c. Desire d. Action

Labor costs, utility costs, commissions, and cost of raw materials are examples of: a. fixed costs b. variable costs

Mei Nora is the chief operating officer of a 10-person startup content marketing company called Sparkit. As the company has grown and produced more material, Mei Nora has noticed that the content creation process has become increasingly disorganized. She suggests to her colleagues that Sparkit purchase a content management system (CMS) to help with workflow. Li and Jack, who are most involved with managing the flow of content, are consulted, agree a CMS should be purchased, and offer input on what features it should have. Mei Nora reaches out to a software company that specializes in CMS solutions, explains the situation, and sends a request for proposal (RFP). Which type of organizational buyer do Li and Jack represent? a. Economic buyer b. User buyer c. Procurement buyer d. Infrastructure buyer

Michael is a salesperson who works for a company that sells headlights to car manufacturers. He is part of the company's top sales team in the country. He recently completed a sale with a large car company to provide lights for all the vehicles in one of their lines. His next paycheck reflected both the sale and the amount he is guaranteed. After seeing the amount on the check, he smiles and tells his friend how happy he is to work for a company that respects his contributions. He expects to receive a bonus at the end of the year as well because he met his objective to sell a specific type of headlight to a large car company. A week later, to his surprise, he receives the Salesperson of the Year award in recognition of his accomplishments. What type of monetary compensation does Michael receive, by getting a paycheck that reflects his sale and guaranteed amount? a. Recoverable draw b. Salary plus commission c. Salary only d. Straight commission

Michael is a salesperson who works for a company that sells headlights to car manufacturers. He is part of the company's top sales team in the country. He recently completed a sale with a large car company to provide lights for all the vehicles in one of their lines. His next paycheck reflected both the sale and the amount he is guaranteed. After seeing the amount on the check, he smiles and tells his friend how happy he is to work for a company that respects his contributions. He expects to receive a bonus at the end of the year as well because he met his objective to sell a specific type of headlight to a large car company. A week later, to his surprise, he receives the Salesperson of the Year award in recognition of his accomplishments. Which guideline is Michael's company following about the effectiveness of its compensation program? a. The incentive program should be consistent with the culture and constraints of the organization. b. Incentive programs should be closely tied to actual job performance. c. Incentive programs should allow for individual differences whenever possible. d. Incentive programs should be carefully monitored over time.

Organizational buying decisions frequently involve a range of complex technical dimensions. These could be complex technical specifications of the physical products or complex technical specifications associated with services, timing, and terms of delivery and payment. a. timing complexity b. technical complexity c. organizational complexity

People who decides if, and when, someone gets access to members of the buying center. a. decision maker b. gatekeepers c. initiators d. users

Personal attributes that enable someone to interact effectively and harmoniously with other people a. hard skills b. power skills

Provides stability during volatile periods while offering an incentive for salespeople who perform strongly. a. commission b. mixed c. salary

Purchasing decisions, especially big-ticket expenditures, may be influenced by the organization's strategies, priorities, and performance. Generally, the decision makers and the providers competing for the business must present a compelling explanation for how the new purchase will help the organization become more effective at achieving its mission and goals. a. individual factor b. organizational factor c. business environment d. Government and regulatory environment

Quotas can be based on __________, and a standard method includes adding a slight increase to the previous year's sales. Quotas also can be based on market factors, such as ______________. a. executive opinion; expert opinions b. past performance; disposable income c. customer surveys; sales force composite

Refers to whether the measure accurately assesses the underlying construct that it claims to asses. a. content validity b. construct validity c. criterion validity

Rewards are distributed based on job title or status among stakeholders in the company. a. equality b. power c. distributive justice d. performance appraisal

Sales activities that are the result of fulfilling a sales task, such as products sold, gross margin, or number of active accounts. a. Inputs b. Outputs

Sales managers can measure their sales team's ability to pick up new leads and enter the sales pipeline. The number of calls, new leads, and cold emails sent can be measured using performance metrics. a. new opportunities b. prospecting c. product demonstration d. meetings and calls

Sparkit is a company whose sole business is producing light fixtures for restaurants. Ren Martin is one of the five sales representatives who work for Sparkit, specifically assigned to national chain restaurants, and reporting only to the national sales director. The chain Orange Zest Café recently reached out to him in need of a vendor to produce light fixtures for an upcoming expansion. Ren reaches out to Sparkit's product manager, Mateo, to suggest a potential deal that requires Sparkit to design and manufacture ten thousand light fixtures within one year. Mateo appreciates the suggestion but replies that it is not feasible since current staff capacity is limited and the chief executive officer (CEO) has mandated that any new business should be limited to small projects only. Although Ren does push back, Mateo affirms the decision is final and no further negotiations are possible. Ren, as frustrated as he has ever been while employed by Sparkit, goes to the gym after work. The next day, Ren wakes up feeling better and breaks the bad news to Orange Zest Café. Ren hopes to get future business from Orange Zest Café, so he encourages them to explore different options from a Sparkit competitor and provides a recommendation to speak to a salesperson he personally knows who will provide good service. When is Ren feeling the lowest job satisfaction? a. When Ren reaches out to Mateo with a potential offer b. When Ren is told by the Sparkit product manager that they will not be able to meet the request c. When Ren suggests to Orange Zest alternative light fixture vendors d. When Orange Zest Café informs Ren that they need a new light fixture vendor

Sparkit is a company whose sole business is producing light fixtures for restaurants. Ren Martin is one of the five sales representatives who work for Sparkit, specifically assigned to national chain restaurants, and reporting only to the national sales director. The chain Orange Zest Café recently reached out to him in need of a vendor to produce light fixtures for an upcoming expansion. Ren reaches out to Sparkit's product manager, Mateo, to suggest a potential deal that requires Sparkit to design and manufacture ten thousand light fixtures within one year. Mateo appreciates the suggestion but replies that it is not feasible since current staff capacity is limited and the chief executive officer (CEO) has mandated that any new business should be limited to small projects only. Although Ren does push back, Mateo affirms the decision is final and no further negotiations are possible. Ren, as frustrated as he has ever been while employed by Sparkit, goes to the gym after work. The next day, Ren wakes up feeling better and breaks the bad news to Orange Zest Café. Ren hopes to get future business from Orange Zest Café, so he encourages them to explore different options from a Sparkit competitor and provides a recommendation to speak to a salesperson he personally knows who will provide good service. Why does Ren tell Orange Zest Café about another company that makes light fixtures for restaurants? a. To foster credibility with the competitor b. To inspire trustworthiness c. To encourage friendly competition d. To earn a job with the competitor

Synesthor, a tech company specializing in cybersecurity, has launched a multichannel campaign to sell version 3.0 of its software called Wistopro. One of its sales methods includes emailing business-to-consumer (B2C) customers who purchased version 2.0 a year ago, but not all of them. The customers who do receive an email had visited the Synesthor website at least six times within the past year. Frequent customers received a different version of the email, offering additional products. The email campaign is very successful, convincing 5 out of 100 email recipients to make a purchase; and the number of sales of version 3.0 is outnumbering the sales of version 2.0. Which performance metric is demonstrated when 5 of 100 email recipients make a purchase? a. Market share b. Conversion ratio c. Sales by product d. Activity goal

Territory management and product knowledge are examples of: a. objective b. subjective

The amount of knowledge a customer has about a product. a. personal b. object c. situational d. social

The economic climate is an essential factor to consider when forecasting. A strong economy usually delivers prospects who are confident and willing to buy. On the other hand, a weak economy can lead to slower sales cycles and reluctant prospects who may need more reassurance and encouragement. a. Personnel changes b. economic conditions c. competitor changes d. product changes

The expected demand for a product. a. master budget b. sales budget c. production budget d. selling and administrative budget

The pool is whittled down to three candidates, all of whom are asked a series of reasoning and mathematical questions. The candidate who performs best is offered the job and accepts. Which type of test are the three remaining candidates required to take? a. Job knowledge test b. Cognitive ability test c. Personality test d. Aptitude test

The sales team of a reputable appliance retailer reaches out to their current customers two weeks after a purchase to ensure their products have met their customers' expectations and to determine if they have any other needs or wants. How do the actions of the appliance retailer exemplify the primary role of sales in a business? a. They are generating new leads for the organization. b. They are creating a customer base by building a relationship with their customers. c. They are generating brand awareness and customer interest. d. They are managing the production and release of new products to market.

Those within an organization who use the product. a. initiator b. users c. influencers d. buyer

To contribute to __________, sales analytics can inform managers about the events that customers experience along the buying journey, such as _____________. a. customer lifetime value (CLV); analyzing sales metrics b. 360-degree view of buyers; joining a loyalty program c. prospect relationship management (PRM); establishing a marketing plan

To determine the compensation for sales staff, a manager can ______________ key metrics of the sales quotas to help make them ________________. a. remove; more detail b. separate; easier to understand c. multiply; a non-factor

Two companies have decided to combine their efforts in a promotional campaign to increase each individual company's brand influence and sales. Which strategic relationship is being sought by these two companies? a. Consulting partnership b. Co-marketing agreement c. Strategic alliance d. Minority investment

Two or more businesses join to develop a specific product or service. For example, NASA joined Google to create Google Earth. a. alliance agreement b. Joint R&D agreement c. Co-marketing agreement d. Minority investments

What are conversion ratios used to measure? a. The frequency of repeat business from a customer base b. The ability of a salesperson to change a prospect into a purchaser c. The number of views for a marketing campaign d. The input of a company's employees from one stage of production to the next

What are the requirements for effective relationship selling? a. The salesperson must know a great number of people in order to share general features and benefits of the product. b. The salesperson must be patient, care about the customer's problems, and believe in the product. c. The salesperson must be patient, customize their selling style, and relate to the customer's social style. d. The salesperson must present the product in a way that encourages the customer to buy as quickly as possible.

What are the strategies, priorities, and performance metrics that influence business-to-business (B2B) transactions? a. Individual factors b. Organizational factors c. Business environment d. Regulatory environment

What are two examples of rewards that would best suit large businesses? a. Team pay and sales contest b. Gain-sharing and stock options

What is Alliah doing by hiring a third party entity to perform some of its tasks? a. Costing b. Outsourcing c. Downsizing d. Freelancing

What is a specific incentive fund (SPIF) in the context of the sales compensation process? a. A method of sales compensation replacing a regular salary b. A repository of money that may be paid out for a particular sales behavior c. A general fund that is split among all sales executives if they meet a collective sales goal d. A deferred method of compensation where salespeople forego short-term payouts for higher long-term benefits

What is a sustainable competitive advantage? a. It is an overall strategy that is utilized to build vendor relations. b. It is a long-term ability that is not easily duplicated by opponents. c. It is a term used to describe what a company must do to compete. d. It is a short-term ability that provides a long-term profit boost to the business.

What is one possible starting point for establishing sales quotas before considering market indices? a. External factors b. Past performance c. Current leadership d. Production capacity

What is the main limitation of the Attention, Interest, Desire, Action (AIDA) model? a. The model assumes both consumers and marketers are active during the entire buying process. b. The model assumes consumers are passive and marketers are active during most of the buying process. c. The model assumes marketers are passive and consumers are active during most of the buying process. d. The model assumes that both consumers and marketers are passive during the entire buying process.

What is the order of steps in the sales process? a. Approaching customers, handling objections, closing sale, prospecting, approaching customers, demonstrating product b. Prospecting, approaching customers, demonstrating product, handling objections, closing sale, following up c. Closing sale, prospecting, following up, handling objections, approaching customers, prospecting d. Approaching customers, closing sale, following up, handling objections, demonstrating product, prospecting

What is the purpose of a sales performance incentive fund (SPIF)? a. To provide a payout to staff based on projected commissions b. To drive sales for a specific item or group of items c. To offer an annual pay increase based on performance d. To allow employees to buy a share of the company at a fixed price.

What is the purpose of an account manager in the sales process? a. To arrange production of a product to sell b. To maintain existing customer relationships c. To manage daily customer account activity d. To determine salesperson compensation

What is the purpose of key account management (KAM)? a. To focus efforts on attracting and retaining new accounts related to specific services b. To focus efforts on building and sustaining long-term, jointly beneficial relationships with major accounts c. To focus efforts on building valuable, limited relationships with large, well-known national accounts d. To focus efforts on all accounts regardless of importance to the company

What is the purpose of market segmentation in the customer relationship management process? a. It is effective manufacturing of new products into an emerging market. b. It is the appropriate use of marketing messages to specific groups. c. It is the thorough implementation of marketing budgets for competitive firms. d. It is the correct development method for creating warranties for new products.

Which online recruitment technique best describes what the video will be used for? a. Internal recruiting b. Social recruiting c. External recruiting d. College recruiting

Which part of the customer relationship management (CRM) process focuses on assessing, measuring, and evaluating the CRM process. The goal is to continually improve the CRM and ensure it is delivering consistent quality for the organization? a. Market planning b. Analysis and refinement c. Customer interaction d. Knowledge discovery

Which scenario illustrates an accurate use of the Pareto principle? a. An account manager uses CRM to focus on the middle 80% of the accounts. b. The company realizes that the top 20% of a company's accounts bring in 80% of the revenue. c. The company realizes that the bottom 20% of a company's accounts bring in 80% of the revenue. d. An account manager segments 80% of the client list into three categories.

Why did an outcome occur? a. descriptive analytics b. diagnostic analytics c. predictive analytics d. prescriptive analytics

__________ focus on benchmarks to more accurately promote constructive criticism. a. subjective measures b. subjective evaluations

__________ measures fall into three categories: inputs, outputs, and ratios. a. subjective b. objective c. feedback

__________ represent those rewards that are related directly to performing the job. In this sense, they are often described as "self-administered" rewards because engaging in the task itself leads to their receipt. Examples of intrinsic rewards include feelings of task accomplishment, autonomy, and personal growth and development that come from the job. a. extrinsic rewards b. intrinsic rewards c. distributive justice

_____________ selling brings value to both businesses and customers. Companies offer customers value through providing information, promotions, and incentives. Customers, in turn, continue the relationship through future purchases and are even willing to pay more because they have developed trust in the company. a. transactional selling b. relationship selling c. adaptive selling d. the social style matrix

______________ are offered to salespeople who are required to have technical knowledge of products or services or are required to develop long-term relationships with customers and clients. a. straight commission b. substantial salaries c. hybrid wage system

What are four goals of customer relationship management (CRM) systems? Choose four answers. a. Using technology to decrease accountability b. Centralizing information to improve efficiency c. Automating tasks to lower business costs d. Moving new leads through the sales process e. Supporting relationships with existing customers f. Creating touchpoints to reduce customer engagement

b, c, d, e

The pressures experienced by people because of their role (job) in the organization. a. role ambiguity b. role conflict c. role inaccuracy d. role stress

A company that sells office equipment to businesses is expanding its operations to sell desks and other goods to school districts. As a result, it has reorganized its sales force to incorporate a matrix structure that focuses on both products and customers. What are three advantages of this company adopting a matrix structure? Choose three answers. a. Ability to avoid a traditional structure b. Greater flexibility to adapt to changes c.Ability to avoid confusion or lack of cohesion d. Ability to balance conflicting goals e. Increased opportunity for professional development f. Simplified, streamlined day-to-day operations

b, d, e

-Actions that help reduce sources of conflict -Helps to handle objections, complaints, and rejections proactively and professionally a. empathy b. verbal communication c. conflict resolution d. analytical decision-making

A business arrangement that specifies how two firms will exchange materials, tools, and training to market one another's services or products. In this arrangement, the organizations partner on marketing strategies such as joint sales and promotions. a. alliance agreement b. Joint R&D agreement c. Co-marketing agreement d. Minority investments

A business-to-business (B2B) salesperson regularly meets with customers to understand what their expectations are for the sales relationship. Which group is this salesperson focusing on? a. Internal stakeholders b. Company affiliates c. External stakeholders d. Company investors

A car salesperson uses an inbound marketing campaign to send a customized communication to each lead that has visited the showroom in the last 90 days. What is the primary goal of this inbound marketing campaign? a. To enhance brand reputation b. To develop advertising strategies c. To increase chance of selling d. To receive feedback from customers

A company analyst uses data from production, customer feedback, and reasons for returned products to ensure the correct amount of product is produced at the right time. Which business activity do these data help the company measure? a. Compliance b. Fraud c. Operational efficiency d. Sales management

A company has hired an outside agent to recruit and screen qualified candidates for a consumer products sales position. The recruiter is contracted to provide the company with a list of candidates who meet specific task and competency requirements. Which approach is this firm using to find candidates? a. College recruiting b. Employee referral program c. External recruiting d. Social recruiting

A company is basing its sales quota on selling enough products to produce a particular level of gross margin.Which type of quota is being used by this company? a. Volume b. Combination c. Profit d. Activity

A company is creating a strategic recruitment plan for its sales staff. The company is currently working on the forecast for its staffing needs. Which internal factor will this company need to consider? a. An increase in the unemployment rate b. Changes in future technology c. Employee turnover rate d. Population changes

A company needs to fill a sales position and has many qualified candidates, both internal and external. The company is strongly considering hiring the internal candidate. Which negative impact to the firm may occur if this candidate is chosen? a. Higher recruitment costs b. Increased risk of access discrimination c. Reduced diversity in sales techniques d. Longer orientation period

A publisher is developing a brand new biology textbook, and the sales team has begun to sell it. William, a salesperson who has worked for the publisher for nearly two decades, uses a CRM to look up his list of contacts. He calls Maya, a professor at a local community college. Every semester, she makes decisions on textbooks and looks at various options. She is the only person at the school who has adopted books from William and the publisher in the past. She and he start the call with a friendly chat and then begin discussing the details of the new book. He answers all of her questions. At the end of the call, she agrees to use the book. At this point, she will instruct her students to purchase it. Which soft and hard skills does William use while on this phone call? a. Empathy and software skills b. Conflict resolution and technology proficiency c. Verbal communication and product knowledge d. Analytical decision-making and proposals and contracts

A publisher is developing a brand new biology textbook, and the sales team has begun to sell it. William, a salesperson who has worked for the publisher for nearly two decades, uses a CRM to look up his list of contacts. He calls Maya, a professor at a local community college. Every semester, she makes decisions on textbooks and looks at various options. She is the only person at the school who has adopted books from William and the publisher in the past. She and he start the call with a friendly chat and then begin discussing the details of the new book. He answers all of her questions. At the end of the call, she agrees to use the book. At this point, she will instruct her students to purchase it. Which type of salesperson is William? a. Trade b. Technical c. Missionary d. Prospector

A rating tool that identifies the frequency of observable job-related behaviors. a. critical incident technique b. behaviorally anchored rating scale (BARS) c. behaviorally observation scale (BOS)

A restaurant employee recommends a new brand of coffee to the business owner.Which type of business-to-business (B2B) stakeholder is this employee? a. Gatekeeper b. Buyer c. Influencer d. Decision maker

A sales manager for a clothing distributor notices that one sales region is not doing as well as the others. She develops a roadmap to better distribute the sales team and direct the sales efforts in the underperforming region. What process is the sales manager using? a. Proposal development b. Strategic partnership development c. Strategic plan development d. Business development

A sales manager for a major packaging distributor works with the sales team to generate company growth and increase revenue by looking for opportunities with current clients and seeking out potential clients. Which type of activity is this sales manager performing? a. Customer relationship management b. Key account management (KAM) c. Business development d. Account-based marketing (ABM)

A sales manager for a national insurance company is faced with unexpected changes in the market and must manage his team in meeting sales goals as these changes arise. To do this, he sets up ongoing training sessions to improve the sales team's knowledge of the market. What type of managing skill is this sales manager utilizing? a. Leadership b. Performance management c. Coaching d. Goal setting

A sales manager is using forecasting to evaluate the overall market potential to predict sales.How will the manager use this information? a. To estimate sales expenditures b. To perform tactical planning c. To develop sales targets d. To conduct sales training

A sales manager notices that after two trainings, the sales team's performance has not changed. The manager wants to assess to what extent the team has gained skills and knowledge. The manager decides to implement a survey for the training attendees to identify what they did and did not like from the training and to determine if two training sessions was appropriate. Which level of the Kirkpatrick training evaluation model did the sales manager implement by using the survey? a. Learning b. Behavior c. Reaction d. Results

A sales manager wants to evaluate a salesperson's combination of inputs and outputs related to client sales meetings.Which measure should the sales manager use for this purpose? a. Number of new accounts b. Actual selling time per call c. Call activity ratio d. Average order size

A sales manager wants to hire a new salesperson and begins by researching the job responsibilities and activities that an individual in that role should perform. Then, the sales manager lists all of the activities that the top salesperson in the company currently performs. Which type of analysis is this sales manager developing? a. Product-based b. Competency-based c. Task-based d. Industry-based

A sales manager wants to motivate the sales team to provide value to clients in order to achieve sales goals. Which activity should a sales manager use? a. Conduct product demonstrations and marketing b. Show salespeople how to conduct a business analysis c. Coach techniques for handling objections d. Share techniques for networking at sales events

A salesperson is asked to account for the amount invested in a recent trade show. The salesperson determines the specific hours associated with each established expense type that the sales department uses for accounting purposes.Which action is this salesperson taking? a. Calculating account development rates b. Determining the effectiveness of sales activities c. Identifying cost drivers and assigning costs d. Analyzing sales close-rate statistics

A salesperson is being trained for an account manager position. The salesperson observes an experienced account manager with extensive knowledge about the company's existing relationships with a group of clients before working independently. Which type of training is this salesperson receiving? a. International assignment b. Just-in-time learning c. Job shadowing d. In-class training

A salesperson is demonstrating a product and explains how the item will add value to the customer's manufacturing operations. The difference between the price the customer will pay and the improvement in manufacturing will result in a threefold increase in production efficiency. Which concept is the salesperson describing to the customer? a. Product cost b. Customer lifetime value c. Return on investment d. Customer needs

Allows team managers to easily forecast a budget and costs a. commission b. mixed c. salary

An employee meets with the human resources (HR) manager to discuss salary. The HR manager tells the employee that senior leadership is providing 5% salary increases based on performance and cost-of-living inflation to all employees this year.Which type of incentive is being provided by the manager? a. Intrinsic bonus b. Incentive c. Merit pay d. Reward

An individual wants to furnish his residence in the traditional style of his culture. The individual does not feel qualified to create an authentic design on his own, so he decides to consult a number of professional designers with the intention that one will be hired to assist with the process. Which factor of product perception is influencing this consumer's buying process? a. Object b. Situational c. Personal d. Social

An individual who notifies purchasing agents or lobbies executives within an organization about a product or service. a. gatekeeper b. influencer c. initiator d. user

An organization with an innovative approach to cyber-security learns from its analytics team that 83% of prospects who sign up for a product demo result in purchasing and keeping the software for at least a year. However, only 12% of prospects are signing up for this demo. How should the organization use this data? a. Revisit the techniques used at the product demo b. Implement a customer retention program for current users c. Increase advertising and promotion of the demo d. Reduce the price of the software to increase sales

At which stage of the sales funnel does the sales team focus on converting prospects into paying customers? a. ABM b. AIDA c. BOFU d. MOFU

B2B purchasing is also influenced by factors in the external business environment. The health of the economy and the company's industry may determine whether an organization chooses to move ahead with a significant purchase or hold off until economic indicators improve. a. individual factor b. organizational factor c. business environment d. Government and regulatory environment

Based on historical sales performance and the current state of the sales pipeline, predictive analytics can depict the outcome of the current deals in the pipeline for each salesperson. These projections help the sales team and manager determine which prospects to pursue immediately and which to follow up with later. a. predictive analytics b. predictive lead scoring c. predictive forecasting d. predict customer attrition e. sales performance monitoring

Based on moving a certain amount of inventory. a. profit/revenue quota b. activity quota c. volume quota

Because every organization is unique, it is nearly impossible to group them into precise categories with regard to dynamics of buying decisions. Each organization has a characteristic way of functioning, as well as a personality and unique culture. Each organization has its own business philosophy that guides its actions in resolving conflicts, handling uncertainty and risk, searching for solutions, and adapting to change. Marketing and sales staff need to learn about each customer or prospect and how to work with them to effectively navigate the product selection process. a. timing complexity b. technical complexity c. organizational complexity

The tendency of managers and interviewers to rate all or most of the employees or interviewees as average. a. leniency error b. recency error c. central tendency error

Continue adding sales representatives to the sales force as long as the marginal revenue exceeds or is equal to the marginal cost. For example; adding one sales representative is expected to bring in $87,500 in revenue and to cost $50,000. Adding a second sales representative is expected to bring in $50,000 and cost $50,000. Adding a third sales representative is expected to bring in $37,500 and cost $50,000. Sales representatives should be added as along as the added profit is equal to or greater than the added cost. In this case, two sales representatives should be added. a. breakdown method b. workload method c. incremental method

Creating a forecast based on information provided by representatives. - uses information provided by sales representatives about how products have sold in the past to make predictions. a. market testing b. customer opinion c. sales force composite d. jury of executive opinion

Customer Relation Management (CRM) goals include customer retention, customer acquisition, and customer profitability. Which CRM goal boost productivity and lower overall costs of marketing, sales, and account management? a. Customer acquisition b. Customer retention c. Customer profitability

Customers that generate high revenue and require fewer resources to serve. -in the customer classification matrix are the most profitable and valuable to a business. These customers should be retained. a. aggressive b. bargain basement c. passive d. carriage trade

Examines how well the construct correlates with one's behavior in the real world across multiple situations and manifestations. a. content validity b. construct validity c. criterion validity

How do business-to-business (B2B) purchasing decisions differ from business-to-consumer (B2C) transactions? a. B2B purchasing decisions are more emotionally driven than B2C transactions. b. B2B purchasing decisions are heavily influenced by advertising compared to B2C transactions. c. B2B purchasing decisions are more task-oriented than B2C transactions. d. B2B purchasing decisions are simpler and less complicated than B2C transactions.

How should a company maintain compliance when doing business with government entities? a. Adhere to market-based pricing b. Adhere to its employee handbook c. Adhere to labor standard statutes d. Adhere to political party preferences

How should a company use third-party websites for customer relationship management (CRM)? a. To generate sales forecasts for the upcoming cycle b. To establish annual marketing budgets c. To integrate data collected from campaigns d. To evaluate sales management effectiveness

How should a manager assess expected behaviors and actions of a salesperson during an employee assessment? a. Outline elements for a specific duty in an employee's domain b. Provide constructive feedback to the employee c. Review performance standards that are relevant to the employee d. Discuss organizational sales goals for the coming year

In a _____________ a company buys the same type of product it has in the past but with changes. a. new task purchase b. straight buy c. modified rebuy

In order to set goals for the sales team, sales managers can measure the total number of product demos that led to sales and the number of product demos by each salesperson. a. new opportunities b. prospecting c. product demonstration d. meetings and calls

In sales forecasting, the ____________ examines trends from the past to make a projection, and it is effective when a market is ____________. a. expert opinion; unpredictable b. Delphi technique; influx c. time-series technique; stable

Integrated CRM systems have instruments for collecting, analyzing, and making sense of customers' and prospects' information, so an organization can gather ideas to enhance its services and offerings. a. improved efficiency b. customer focus c. data accessibility d. enhanced accountability

The way in which a job can be modified or changed to be more effective. a. job description b. job analysis c. job design d. job specification

Jack has been selling cars for a car dealership for many years. A long-time customer named Omar walks into the dealership. Jack is surprised to see Omar, despite his being a loyal customer, since his most recent purchase occurred under two years ago. After the two talk for a while, Omar explains that he does not really need a new car, but he recently got a nice promotion at work and is thinking about upgrading. Although he is happy with his SUV, he wishes he had a car that gets better gas mileage. Jack explains that the dealership offers several cars that get better mileage than the SUV. He asks a variety of questions to gain a good understanding of Omar's exact needs. Having come to know Omar over the years, Jack understands Omar's social style well. He explains to Omar the pros and cons of various car models, delineates the facts, and clearly describes how the different options will serve him. At the end, Jack suggests one model in particular. What is Omar's dominant social style? a. Expressive b. Driver c. Analytical d. Amiable

Jack has been selling cars for a car dealership for many years. A long-time customer named Omar walks into the dealership. Jack is surprised to see Omar, despite his being a loyal customer, since his most recent purchase occurred under two years ago. After the two talk for a while, Omar explains that he does not really need a new car, but he recently got a nice promotion at work and is thinking about upgrading. Although he is happy with his SUV, he wishes he had a car that gets better gas mileage. Jack explains that the dealership offers several cars that get better mileage than the SUV. He asks a variety of questions to gain a good understanding of Omar's exact needs. Having come to know Omar over the years, Jack understands Omar's social style well. He explains to Omar the pros and cons of various car models, delineates the facts, and clearly describes how the different options will serve him. At the end, Jack suggests one model in particular. What should Jack do to help Omar understand why a particular car is the best option? a. Provide account management support b. Explain the customer lifetime value (CLV) c. Explain the value proposition d. Conduct consultative selling

Jack has been selling cars for a car dealership for many years. A long-time customer named Omar walks into the dealership. Jack is surprised to see Omar, despite his being a loyal customer, since his most recent purchase occurred under two years ago. After the two talk for a while, Omar explains that he does not really need a new car, but he recently got a nice promotion at work and is thinking about upgrading. Although he is happy with his SUV, he wishes he had a car that gets better gas mileage. Jack explains that the dealership offers several cars that get better mileage than the SUV. He asks a variety of questions to gain a good understanding of Omar's exact needs. Having come to know Omar over the years, Jack understands Omar's social style well. He explains to Omar the pros and cons of various car models, delineates the facts, and clearly describes how the different options will serve him. At the end, Jack suggests one model in particular. Which type of selling is Jack engaged in at this moment? a. Transactional selling b. Team selling c. Adaptive selling d. Relationship selling

Mei Nora is the chief operating officer of a 10-person startup content marketing company called Sparkit. As the company has grown and produced more material, Mei Nora has noticed that the content creation process has become increasingly disorganized. She suggests to her colleagues that Sparkit purchase a content management system (CMS) to help with workflow. Li and Jack, who are most involved with managing the flow of content, are consulted, agree a CMS should be purchased, and offer input on what features it should have. Mei Nora reaches out to a software company that specializes in CMS solutions, explains the situation, and sends a request for proposal (RFP). Which stage of the organizational buying process is occurring when Li and Jack offer their input? a. Recognizing the need b. Searching for suppliers c. Defining the need d. Reviewing performance

Mei Nora is the chief operating officer of a 10-person startup content marketing company called Sparkit. As the company has grown and produced more material, Mei Nora has noticed that the content creation process has become increasingly disorganized. She suggests to her colleagues that Sparkit purchase a content management system (CMS) to help with workflow. Li and Jack, who are most involved with managing the flow of content, are consulted, agree a CMS should be purchased, and offer input on what features it should have. Mei Nora reaches out to a software company that specializes in CMS solutions, explains the situation, and sends a request for proposal (RFP). Which type of buying situation is Sparkit engaging in? a. Modified rebuy b. One-time purchase c. New task purchase d. Straight rebuy

Michael receives the Salesperson of the Year award in recognition of his accomplishments. Which type of benefit is the award that Michael receives? a. Monetary b. A perk c. Non-monetary d. Intrinsic

Recently, a salesperson working in the B2B sector of a computer company landed several new accounts that will help the quarterly numbers greatly improve. What is an example of an extrinsic reward this salesperson may experience? a. Greater autonomy in the future b. An opportunity for professional development c. An increase in salary d. Sense of accomplishment

Rewards are distributed to ensure that employees receive compensation that is commensurate with their contribution. a. equality b. power c. distributive justice d. performance appraisal

Shows how well a salesperson is communicating and engaging with customers. a. expense ratio b. account development ratio c. call activity ratio

Sparkit is a company whose sole business is producing light fixtures for restaurants. Ren Martin is one of the five sales representatives who work for Sparkit, specifically assigned to national chain restaurants, and reporting only to the national sales director. The chain Orange Zest Café recently reached out to him in need of a vendor to produce light fixtures for an upcoming expansion. Ren reaches out to Sparkit's product manager, Mateo, to suggest a potential deal that requires Sparkit to design and manufacture ten thousand light fixtures within one year. Mateo appreciates the suggestion but replies that it is not feasible since current staff capacity is limited and the chief executive officer (CEO) has mandated that any new business should be limited to small projects only. Although Ren does push back, Mateo affirms the decision is final and no further negotiations are possible. Ren, as frustrated as he has ever been while employed by Sparkit, goes to the gym after work. The next day, Ren wakes up feeling better and breaks the bad news to Orange Zest Café. Ren hopes to get future business from Orange Zest Café, so he encourages them to explore different options from a Sparkit competitor and provides a recommendation to speak to a salesperson he personally knows who will provide good service. Which role issue does Ren encounter after Mateo tells him he cannot bring in this business from Orange Zest Café? a. Role inaccuracy b. Role conflict c. Role stress d. Role ambiguity

Studying sales analytics helps a company define the ___________ needed to provide the highest return on investment (ROI), and it allows the organization to focus on ________________ to increase revenue over time. a. employees; financing b. investment; production c. strategies; marketing

Talia learned a lot in the course, giving a significant amount of the credit to her instructor for using interactive strategies like role play, games, and breakout discussions. Which aspect of training program development does Talia's instructor take into consideration by using games and breakout discussions? a. Audience b. Budget c. Delivery style d. Time lines

The 10 job candidates selected to come in for individual interviews are all asked the same questions. Which type of interview does the human resources (HR) department conduct with the candidates? a. Panel interview b. Unstructured interview c. Structured interview d. Informational interview

The ______________ Act prohibits discrimination, on the basis of race, sex, or religion by employers with ______________ or more employees. a. The Lily Ledbetter Fairpay; 5 b. The American with Disabilities; 10 c. The Civil Rights; 15

The ability to understand and share the feelings of another. This gives the salesperson the ability to adapt his or her behavior according to the customer's attitude, because the salesperson can perceive a situation from the customer's point of view. a. assertiveness b. self-awareness c. empathy d. problem-solving e. optimism

The amount of a product that needs to be manufactured to meet the determined consumer demand. a. master budget b. sales budget c. production budget d. selling and administrative budget

The amount of data available, including anything from customer transactions to scientific data. a. variety b. velocity c. volume

The chief of sales has assigned a territorial manager a certain sales quota, which is broken down equally among the salespeople in the territory.How should the territory's sales quota assigned to the manager be defined? a. Overassigned b. Draft c. Overlay d. Subassigned

The inverse of the leniency error in which a manager does not enforce from employees a suitable level of performance and compliance with standards a. confirmatory bias b. leniency error c. strictness

The kinds of products that relate to a given environment. a. personal b. object c. situational d. social

The manager of a sales team should ensure that the budget is _______________. It is important to maintain _____________. a. undefined; equality among the staff b. fixed; high level of incentives c. flexible; security and control

The sales manager of a mobile phone store is deciding how many salespeople to hire in anticipation of the release of a new model. To calculate a figure, he divides the projected sales by the average productivity for a single sales representative. The sales manager is using the _____________ to set the amount of sales staff needed, and one benefit of this approach is that it ___________. a. incremental model; relates to the law of decreasing returns b. workload model; considers the employees' time c. breakdown model; does not require complex calculations.

Unforeseen changes in the competing market can significantly impact a sales forecast. For example, if a competitor decreases prices or adds value to a similar product, your sales team may have a more difficult time closing deals. They may need to offer more significant discounts or add more value to the deal with added features or services, which then impacts the forecasted revenue. a. Personnel changes b. economic conditions c. competitor changes d. product changes

What advantage does a company enjoy by employing a commission-based pay structure? a. It makes forecasting sales costs easy. b. It provides financial stability to the employee. c. It provides a financial incentive for employees to excel. d. It can result in substantial discounting to inflate sales.

What are some of the main characteristics of business-to-business (B2B) selling? a. B2B selling consists of many customers and small purchases. b. B2B consists of few customers and small purchases. c. B2B selling consists of few customers and a long selling cycle. d. B2B consists of many customers and a short selling cycle.

What is Endothon estimating when it determines the total amount of kitchenware sales in the entire industry? a. Sales pipeline b. Market share c. Market potential d. Sales potential

What is a forecast in sales management? a. The amount by which revenue from sales exceeds the costs of a company b. An overview of the amount a company has sold at the end of a quarter or year c. A projection of the demand for a product that a company produces d. A list that details the most successful brands in a company's line of products

What is an impact of the internet on the sales process? a. Decreased knowledge of customer needs by salespeople b. Greater collaboration between competing companies c. Greater collaboration between salespeople and customers d. Decreased competition between competing companies

What is one of the benefits of establishing a centralized sales force? a. This structure helps to develop the leadership skills of employees on all levels of an organization. b. This structure is the most efficient method for responding to customer concerns. c. This structure helps to eliminate redundancy in an organization. d. This structure provides greater autonomy to lower level personnel.

What is the difference between direct quotas and overlay quotas? a. A direct quota is the goal for a sales unit; an overlay quota is the goal for a production unit. b. A direct quota affects employee compensation; an overlay quota does not affect compensation. c. A direct quota represents one salesperson; an overlay quota represents a sales team. d. A direct quota is only based on profits; an overlay quota is only based on expenses.

What is transactional selling? a. A sales strategy that focuses on customizing the selling style to cater to the situation and the customer's behavior b. A sales approach that focuses on building relationships in order to encourage repeat purchases c. A sales strategy that initially identifies potential customers, offers the product, and attempts to quickly close the deal d. A sales approach in which the salesperson is used to selling the product only after meeting with the customer multiple times

What occurs during the performance review and feedback stage in the organizational buying process? a. Creation of specifications for product needs b. Identification of supplier suitability for product quality c. Measurement of user satisfaction against expectations d. Solicitation of requests for proposal from producers

What will happen? a. descriptive analytics b. diagnostic analytics c. predictive analytics d. prescriptive analytics

When governments have very specific requirements for a product or service, agencies will issue an invitation for bid (IFB). This is similar to an RFP. Contracting officers review the submitted bids, and the business providing the best value is awarded the contract. a. micro-purchases with credit cards b. Simplified Acquisition procedures c. sealed bid d. contracting by negotiations e. consolidated purchasing vehicles

When setting the size of the sales force, Endothon decides its one method will be to continue hiring salespeople until their marginal revenue no longer exceeds their marginal cost. a. breakdown b. workload c. incremental

Which action illustrates disparate treatment? a. Refusing to hire employees over 65 years old b. Refusing to hire someone because he or she is unable to lift a required amount for the job c. Providing different pay scales for men and women who do the same jobs d. Hiring based on a job knowledge test and most passing candidates being of one race

Which element of the Kirkpatrick Model measures how participants feel about what they observed, how they engaged with each other, and what they learned at a sales training session? a. Results b. Learning c. Reaction d. Behavior

Which example illustrates sales effectiveness? a. A sales team completes tasks quickly. b. A company monitors employee performance. c. A sales team increases company revenues. d. A company benchmarks sales efforts against a competitor.

Which part of the customer relationship management (CRM) process takes place at the specific customer touchpoints at which all customers interact with or contact, directly or indirectly, each aspect of the organization? a. Market planning b. Analysis and refinement c. Customer interaction d. Knowledge discovery

Which structure is ideal for a company in which the products or services require heavy specialization for clients? a. Matrix structure b. Product structure c. Customer structure d. Geography structure

__________ should be measured according to the salesperson being evaluated, considering that person's unique circumstances, abilities, and performance metrics such as sales quotas. - is a piece of the overall evaluation of salespeople. a. performance evaluation b. performance appraisal c. feedback

_____________ is an approach in which the salesperson customizes the selling style to match the situation and the customer's social style as described by the social style matrix. a. transactional selling b. relationship selling c. adaptive selling d. the social style matrix

_____________, which include both salary and commission, are the most common in sales positions. a. straight commission b. substantial salaries c. hybrid wage system

_____________ as sales compensation is not very common because it does not offer much motivation or incentive to perform beyond what is expected. a. straight commission b. substantial salaries c. hybrid wage system d. salary

Which two characteristics should be considered in an organizational assessment? Choose two answers. a. Employee performance b. Job tasks c. Demographic trends d. New technology

c, d

As part of its mission statement, an organic foods company has vowed to sell animal-friendly, cruelty-free products. Most of the employees support this choice and are working for the company because of its stance on animal rights. Recently, the manager of the sales team offered tickets to the local circus for individual salespeople to help boost sales. However, this plan proved to be ineffective. Why was the incentive plan ineffective? a. A group plan would have better served the company. b. Non-monetary benefits do not tend to motivate sales teams. c. The incentive plan did not provide sizable compensation. d. The incentive plan did not reflect the culture of the company.

At a luxury cruise company, full-time sales staff are paid the larger of $1,000 per month or $300 per sale made. The monthly guarantee of $1,000 provides employees with a sense of financial security, and rarely does an employee sell fewer than four cruises per month. If employees do not sell four cruises per month, the $1,000 is not paid back to the company.Which compensation system are the employees receiving? a. Recoverable draw b. Salary c. Straight commission d. Non-recoverable draw

At a small comedy club, the sales staff's only compensation comes in the form of a $2 stipend for every ticket sold.Which compensation system are the employees receiving? a. Non-recoverable draw b. Salary c. Recoverable draw d. Straight commission

Creating a forecast based on estimates generated by upper level management - uses estimates provided by upper level management, based on their knowledge and experience, to create a sales forecast. a. market testing b. customer opinion c. sales force composite d. jury of executive opinion

Customers that generate high revenue but require the most resources to serve. - in the customer classification matrix, provide more profit but require more resources and are more expensive to serve. a. aggressive b. bargain basement c. passive d. carriage trade

Daniel recently moved to a new city and receives a brochure in the mail from Freedom Rock Bicycles that says "welcome to your new home" and offers a discount on his first tune-up. He finds their offer to be attractive and brings his bike to the shop. A week after he brings his bike home, Freedom Rock emails Daniel a survey asking about his experience, which he answers. A year later, he is sent an automated email reminder for an upcoming tune-up. However, unlike other customers, Daniel does not receive an email about a sale on new bikes, because he indicated in the survey that his bike is only one year old. Which segmentation practice does Freedom Rock Bicycles follow when it does not alert Daniel of its bicycle sale? a. Psychographic segmentation b. Geographic segmentation c. Demographic segmentation d. Behavioral segmentation

Expenses of getting a product to a customer. a. master budget b. sales budget c. production budget d. selling and administrative budget

Generally, changes in products translate to more sales because of improved product features, more attractive pricing, or other benefits. These types of changes can help sell more and faster. Conversely, if products become more expensive without significant improvements, or if there are issues with production or deliveries, this will negatively impact sales. Sales teams must be informed about planned product changes to prepare and modify selling strategies to meet sales goals. a. Personnel changes b. economic conditions c. competitor changes d. product changes

How does a recoverable draw differ from a nonrecoverable draw in salesperson compensation? a. With a recoverable draw, the salesperson retains all of the payout it receives from the company. b. With a recoverable draw, the salesperson earns a straight commission instead of a salary. c. With a recoverable draw, the salesperson earns a salary instead of a commission. d. With a recoverable draw, the salesperson pays back the money made in commission to the company.

How has online shopping changed consumer purchasing dynamics? a. It has created a more complacent buyer due to the information that is now available about products and services they may wish to buy. b. It has created a less empowered buyer due to the information that is now available about products and services they may wish to buy. c. It has created an apprehensive buyer due to the information that is now available about products and services they may wish to buy. d. It has created a more informed buyer due to the information that is now available about products and services they may wish to buy.

The government will issue an RFP when it requires a highly technical product or service that exceeds $150,000. a. micro-purchases with credit cards b. Simplified Acquisition procedures c. sealed bid d. contracting by negotiations e. consolidated purchasing vehicles

Managers' and employees' working together to set goals for the coming sales period. a. critical incident technique b. behaviorally anchored rating scale (BARS) c. behaviorally observation scale (BOS) d. Management by objectives (MBO)

Mei Nora is the chief operating officer of a 10-person startup content marketing company called Sparkit. As the company has grown and produced more material, Mei Nora has noticed that the content creation process has become increasingly disorganized. She suggests to her colleagues that Sparkit purchase a content management system (CMS) to help with workflow. Li and Jack, who are most involved with managing the flow of content, are consulted, agree a CMS should be purchased, and offer input on what features it should have. Mei Nora reaches out to a software company that specializes in CMS solutions, explains the situation, and sends a request for proposal (RFP). Which type of organizational buyer is Mei Nora? a. User b. Influencer c. Gatekeeper d. Initiator

Mei Nora is the chief operating officer of a 10-person startup content marketing company called Sparkit. As the company has grown and produced more material, Mei Nora has noticed that the content creation process has become increasingly disorganized. She suggests to her colleagues that Sparkit purchase a content management system (CMS) to help with workflow. Li and Jack, who are most involved with managing the flow of content, are consulted, agree a CMS should be purchased, and offer input on what features it should have. Mei Nora reaches out to a software company that specializes in CMS solutions, explains the situation, and sends a request for proposal (RFP). Which type of sales relationship is Sparkit looking to establish? a. Functional relationship b. Strategic partnership c. Co-marketing agreement d. Affiliative selling relationship

Michael is a salesperson who works for a company that sells headlights to car manufacturers. He is part of the company's top sales team in the country. He recently completed a sale with a large car company to provide lights for all the vehicles in one of their lines. His next paycheck reflected both the sale and the amount he is guaranteed. After seeing the amount on the check, he smiles and tells his friend how happy he is to work for a company that respects his contributions. He expects to receive a bonus at the end of the year as well because he met his objective to sell a specific type of headlight to a large car company. A week later, to his surprise, he receives the Salesperson of the Year award in recognition of his accomplishments. Which type of incentive program does Michael's expected bonus indicate he is enrolled in? a. Team pay b. Gain-sharing c. Stock options d. Sales performance incentive fund

Predictive sales analytics can raise awareness with sales managers about customer attrition, based on satisfaction, usage, and historical trends. With this information, sales managers can set customer retention strategies and direct the sales team accordingly. a. predictive analytics b. predictive lead scoring c. predictive forecasting d. predict customer attrition e. sales performance monitoring

Rewards are distributed based on the results of employee evaluations. a. equality b. power c. distributive justice d. performance appraisal

Sales rely on meaningful customer interactions. It is important that sales managers track the number of calls, length of calls, number of meetings, and post-meeting engagements with customers. a. new opportunities b. prospecting c. product demonstration d. meetings and calls

Synesthor, a tech company specializing in cybersecurity, has launched a multichannel campaign to sell version 3.0 of its software called Wistopro. One of its sales methods includes emailing business-to-consumer (B2C) customers who purchased version 2.0 a year ago, but not all of them. The customers who do receive an email had visited the Synesthor website at least six times within the past year. Frequent customers received a different version of the email, offering additional products. The email campaign is very successful, convincing 5 out of 100 email recipients to make a purchase; and the number of sales of version 3.0 is outnumbering the sales of version 2.0. Which key performance indicator (KPI) does the greater number of version 3.0 sales represent? a. Sales target b. Average purchase value c. Average profit margin d. Sales growth

Synesthor, a tech company specializing in cybersecurity, has launched a multichannel campaign to sell version 3.0 of its software called Wistopro. One of its sales methods includes emailing business-to-consumer (B2C) customers who purchased version 2.0 a year ago, but not all of them. The customers who do receive an email had visited the Synesthor website at least six times within the past year. Frequent customers received a different version of the email, offering additional products. The email campaign is very successful, convincing 5 out of 100 email recipients to make a purchase; and the number of sales of version 3.0 is outnumbering the sales of version 2.0. Which level of data analytics did Synesthor use to determine which customers to email? a. Prescriptive analytics b. Descriptive analytics c. Diagnostic analytics d. Predictive analytics

Synesthor, a tech company specializing in cybersecurity, has launched a multichannel campaign to sell version 3.0 of its software called Wistopro. One of its sales methods includes emailing business-to-consumer (B2C) customers who purchased version 2.0 a year ago, but not all of them. The customers who do receive an email had visited the Synesthor website at least six times within the past year. Frequent customers received a different version of the email, offering additional products. The email campaign is very successful, convincing 5 out of 100 email recipients to make a purchase; and the number of sales of version 3.0 is outnumbering the sales of version 2.0. Which opportunity is presented when Synesthor analyzes the data from frequent customers? a. Planning b. Forecasting c. Budgeting d. Upselling

Talia was just hired to join the sales department at Bullzai, Inc, a telecommunications hardware company that sells antennae to cell phone service providers. In her first week on the job, she attends a training course where she learns about the different antennae they offer. The course had been designed several years earlier when the company conducted an analysis to determine which skills, knowledge, and abilities its employees needed for Bullzai to meet its strategic objectives. Talia learned a lot in the course, giving a significant amount of the credit to her instructor for using interactive strategies like role play, games, and breakout discussions. Six months after completing the training, her sales figures are 20% better than they were for new hires of the sales department five years ago before the training program was implemented. Other salespeople who took the course also have strong numbers. How has Bullzai benefitted from Talia's sales training? a. Reduced employee turnover b. Better morale c. Improved customer relationships d. Improved productivity

The amount of money the business will spend to manufacture a product. a. master budget b. sales budget c. production budget d. cost of goods sold budget

The company decides to renegotiate terms with customers that have negotiated prices below the market price and that require excessive amounts of service and sales efforts. Which customer type is Alliah renegotiating with, according to the customer classification matrix? a. Bargain basement b. Passive c. Carriage trade d. Aggressive

The customer's network of friends and family members a. personal b. object c. situational d. social

What is customer lifetime value (CLV)? a. A process of analyzing and assessing all resources invested by a customer, including time, effort, and money spent b. The cost of the investment needed to attract and retain customers relative to the revenue they may bring c. A statement that proposes to customers why the products offered by the seller can add value to them d. The present value of all potential business from the same customer throughout the span of that customer's relationship with the company

What is the best way to achieve an outcome? a. descriptive analytics b. diagnostic analytics c. predictive analytics d. prescriptive analytics

What is the purpose of market segmentation in the customer relationship management process? a. It is effective manufacturing of new products into an emerging market. b. It is the correct development method for creating warranties for new products. c. It is the thorough implementation of marketing budgets for competitive firms. d. It is the appropriate use of marketing messages to specific groups.

What is the relationship between sales and marketing? a. Marketing brings the product to the salesperson and provides directives on how to sell the product. b. Sales and marketing work together to create a campaign that brings consumers to the business. c. Sales attracts customers' attention, thereby giving the marketing department a better chance of promoting the product. d. Marketing attracts prospective customers to the business while sales attempt to convert these prospects into paying customers.

What is value from a customer's perspective? a. The price the customer paid for the product during a promotion in relation to the original price of the item b. The number of transactions the customer will repeat with the same company over time c. The amount the customer saved through evaluating and choosing from a pool of competitor items d. The apparent benefits the customer received from a product or service in relation to the costs of the item

When a new employee is hired, the human resources manager reviews the attributes of successful sales representatives with the new hire, such as extroversion, curiosity, proactiveness, and openness.Which component of the organizational socialization model is the new hire experiencing? a. Organizational efforts b. New employee tactics c. Adjustment and outcomes d. New employee characteristics

Which key performance indicator is measured when analyzing the expenses involved when gaining a paying customer? a. Sales growth b. Average purchase value c. Cannibalization rate d. Customer acquisition cost

Which part of the customer relationship management (CRM) process involves gathering insight about why a customer purchases a specific product? a. Market planning b. Analysis and refinement c. Customer interaction d. Knowledge discovery

Which performance measurement tool is Maya's boss using when he assigns her a number from 1 to 10 after evaluating her on a variety of dimensions? a. Management by objectives (MBO) b. Assessment center c. Critical incident technique d. Graphic rating scale

Which practice is Alliah implementing when it asks retailers to carry its three-dimensional puzzles? a. Cross-selling b. Pushing c. Pulling d. Upselling

Which type of data is used for market segmentation? a. The details for any goods or services related to a company's product b. The contributions of a company's employees to production or distribution c. The marketing methods of a company's competition d. The demographics of a company's customer base

Why is business-to-business (B2B) buying behavior different from business-to-consumer (B2C) buying behavior? a. The focus is on an appeal to emotions. b. Decisions are made quickly. c. Marketing requires simple messaging. d. Purchases involve technical complexity.

___________ describes how people are different depending on their style, perceptions, and approaches to communication and behavior. Each of the social styles has specific characteristics that are important to remember as you prepare and present your sales presentation. a. transactional selling b. relationship selling c. adaptive selling d. the social style matrix

_____________ about pay rates seems to be a widely accepted practice in work organizations, particularly among managerial personnel. It is argued that salary is a personal matter and should not invade another's privacy. a. extrinsic rewards b. intrinsic rewards c. distributive justice d. pay secrecy

______________ can also influence purchasing decisions. Governmental organizations often have very strict, highly regulated purchasing processes to prevent corruption, and companies must comply with these regulations in order to win government contracts and business. Similarly, lawmakers or governmental agencies might create new laws and regulations that require organizations to alter how they do business—or face penalties. a. individual factor b. organizational factor c. business environment d. Government and regulatory environment

A mental attitude reflecting a belief that outcomes, in general, will be positive. This helps the salesperson stay balanced, positive, and focused on the next step, even when things go wrong. a. assertiveness b. self-awareness c. empathy d. problem-solving e. optimism

Everyday purchasing needs like office supplies that are centralized are called consolidated purchasing. a. micro-purchases with credit cards b. Simplified Acquisition procedures c. sealed bid d. contracting by negotiations e. consolidated purchasing vehicles

The conversion ratio, win-loss analysis, and activity goals are examples of performance metrics. true or false

true

The goal of supply chain management is to create a satisfied customer by coordinating the activities of the buying process, and a major element of supply chain management is distribution. True or false

true

true or false The three main types of customers in a B2B transaction include producers, resellers, and organizations (government & non-profit)

true

Voir tous les ensembles d'études

D099 Study guide questions

Ensembles d'études connexes

FINC 318 Chp 8: Net Present Value SmartBook 2.0

physio lab final

Exam 2 Practice

Much Ado About Nothing Act 1

Chapter 4- Documentation and Interprofessional Communication

Chapter 2 Collaboration, Interpersonal Communication, and Business Etiquette

Hip fracture in older adults

PSY 201: Chapter 6

Chapter 9 Bus 189

CIS 119 WEEK08 MIDTERM EXAM

Literature 11 Final: Units 1-7

NURS344 Health Assessment Exam 3

Finance Block 4

acct mini exam 1

ECON Chapter 11

Macro 1

Consumer Behavior Chapter 2

Public Speaking - Chapter 1 to 14

WLDF 420 Geese & swans : Anseriformes, Family, Tribe, Scientific Name, Common Name

Exam 1 Review (Study in advance of Exams 2, 3, 4, 5!!)