MAR 3400 - Chapters 8-11 Quiz Questions

Which of the following was offered as advice before your next meeting? A. You can have an objective for a meeting with a prospect, but do not state it outright as it will seem too aggressive. B. Do not have specific objectives when meeting with a prospect so you can keep your options open. C. It is your job as a rep to take control of the sales call, stating your objective at the beginning. D. It's not important to understand where your prospect is in the buying cycle, only where you want them to be in the selling cycle. E. Do not try to teach the prospect because they will resent the lesson.

C.

In one of the videos, a study was mentioned that showed an 80% (very strong) correlation between... A. The buyer's initial impression of the sales rep and the buyer's overall experience dealing with the sales rep. B. The buyer's initial impression of the sales rep and whether or not the buyer made a purchase. C. The sales rep's dress/appearance and the buyer's willingness to listen. D. The sales rep's attitude and their ability to control the meeting. E. None of these are correct.

A.

Visual aids and proof materials are important for sales reps to have. In this set of videos, which of the following was NOT mentioned as a mistake that reps commonly make? A. Reps fail to read every one of these materials aloud to the customer. B. Reps forget to use these materials. C. Reps hand these materials to the customer before the meeting is over. D. All of these were mentioned. E. None of these were mentioned.

A.

What is the most important takeaway from the "Sometimes the Best Selling is No Selling at All" article? A. The best way to have long-term relationships with your customers is by adopting a consultative approach. B. None of these. C. Sales reps should learn how to provide product demonstrations in which they highlight all the technical product specifications, so they won't have to sell a product that sells itself. D. The best salespeople do not have to sell because their reputation will bring customers to them. E. All of these.

A.

Which of the following is NOT a need-payoff question? A. Is the reduction of safety concerns a foal your company has set? B. If we could guarantee deliveries that are never late, how would that benefit you in fulfilling your obligations to your customers? C. Would a less expensive solution help with your supervisor's concerns over costs? D. All of these are need-payoff questions. E. How else would our product be of value to you?

A.

Your friend Hannah, a salesperson from Paycom, is asking for your help. Hannah's boss has asked her to prepare 3 objectives for her sales call. Which one of the following would you tell Hannah is NOT a valid objective based on the SMART framework? A. For Hannah to get a complete understanding of how this prospect could use Paycom and to build her future credibility with the prospect so that the prospect will trust her opinions. B. For Hannah to get the prospect to agree to use Paycom starting tomorrow on a trial basis. C. For the prospect to agree to another meeting in one week where he/she can see a full demonstration of Paycom's service. D. For the prospect to supply Hannah with the specified information by tomorrow at 5pm so that she may prepare a formal sales presentation for next week at the same time. E. All of these are valid objectives based on the SMART framework.

A.

As presented in the videos for this chapter, what was a common mistake that inferior sales reps make with respect to the value equation: Value = Benefits - Costs? A. Sales reps do not fully understand how the price of their product translates into costs for the customer. B. Sales reps usually concentrate their efforts on the cost side of the equation instead of the benefit side. C. Sales reps "value" their customers too much and it costs them too much time. D. All of these. E. None of these.

B.

In this chapter, it was said that the single most important part of your preparation for the meeting is... A. Making sure to know the names of everyone involved in the business so it looks like you did your research. B. Being ready to speak about your prospect's business issues. C. Making sure you know the "red lights" from the "green lights." D. Being ready to do a full presentation of your product at any time. E. Knowing your features so well that you can explain them without looking.

B.

What type of question gets the customer to tell you the value of the solution? A. Situation B. Need-Payoff C. Problem D. Implication

B.

When phoning a customer, which of the following was a tip presented in this chapter? A. When you introduce yourself to your customer, you should go into details about you and your company. B. Don't call a prospect without knowing something about their firm and what they do. C. All of these. D. When calling a customer, you should assume that your solution is the only solution for the customer's needs. E. Do not disclose why you are calling early on because they will hang up.

B.

Which of the following is an implication question? A. If you could eliminate employee time theft, what could that add to your bottom line? B. If you do not eliminate these tax filing errors that continue to worry you, can that ultimately result in larger fines from the IRS? C. All of these are implication questions. D. Because Paycom can cut those costs, how will that facilitate your company's expansion? E. By using Paycom's payroll and HR services, you will never be without a customer service representative again.

B.

Which of the following is the BEST example of a Benefit (NOT feature or advantage) statement involving Paycom's payroll services? A. With Paycom, there are multiple ways to record employee hours. B. With Paycom, you can eliminate those costly mistakes that have bothered you in the past. C. Paycom provides a cloud-based service. D. All of these are Benefit statements. E. With Paycom, the average customer never has to worry about making common mistakes.

B.

Credibility in a presentation is BEST established by which of the following? A. All of these. B. A proposal letter where the seller puts promises in writing. C. A case study or customer testimonial. D. When the seller says, "I promise..." E. None of these.

C.

Even for experienced salespeople, it was stated in this chapter that one of the biggest issues when planning for the sales meeting is: A. None of the options. B. Failure to effectively qualify prospects. C. Misalignment between the buying and selling cycles. D. That buyers won't deal with sales people unless they have a referral. E. Accurate information is not available on the internet.

C.

From this set of videos, what is the best advice you could give to a new salesperson when it comes to presenting the product? A. Use the rule of three: always present three features during a presentation. B. Know and discuss every advantage of using your product with every customer. C. Buyers buy because of the benefits, not the features themselves. D. All of these were advice given in the videos. E. Buyers want you to tell them all about the features and will decide for themselves if there are benefits.

C.

How do you engage the prospect in the first 15 seconds? A. Speak a lot about your product and your accomplishments. B. All of these will engage a prospect equally well. C. Focus on benefits and what you can do for the prospect. D. Start by telling a joke to get their attention. E. Read from a script so you sound more professional.

C.

In the opening part of the sales call, it was recommended that a strong way to start the conversation is to focus on the buyer's communication style. If the buyer is obviously a driver, the recommended approach is to: A. These are all equally effective with a driver. B. Recognize their achievements and compliment their clothing. C. Communicate some benefits clearly and let them know the duration of the meeting. D. Focus on establishing trust and getting to know the customer. E. Get them to think provocatively and establish trust.

C.

In this chapter, it was mentioned that, on average, it takes how many visits to close an initial business-to-business sale? A. It takes a minimum of 7-9 visits to close a sale. B. Every company expects its salespeople to close the sale by the second visit. C. It takes between 3-5 (or more) interactions to close a sale. D. A good sales person closes the sale on the first visit. E. Most sales can be closed in 2.4 meetings on average.

C.

In this chapter, it was recommended that salespeople "sell slow." The meaning behind "sell slow" is to: A. Take the time to present every feature of your product/service so that the prospect fully understands the value of the product. B. Take the time to speak slowly so that the customer will understand you. C. Take the time to fully understand all of the possible needs that you can address with your product/service. D. Plan at least 3-5 sales meetings with a client before trying to close the sale. E. All of these.

C.

What is one benefit of using Porter's Value Chain when planning a sales call? A. It helps sales reps to see how all areas of a company will be equally benefited. B. It helps sales reps understand how strong a feature will be in a sales proposal. C. It helps sales reps to identify the direct and indirect benefits of their product. D. All of these. E. None of these.

C.

What type of question is used to uncover the customer's needs? A. Situation B. Need-Payoff C. Problem D. Implication

C.

Which of the following is NOT an implication question? A. All of these are implication questions. B. If you continue to have these issues, how much revenue could be lost in the next year? C. Is your service recovery process slow? D. If your service recovery problem does not improve, are you concerned about the impact it will have on customer attrition? E. How much revenue do you think you have lost due to these setbacks?

C.

Which of the following is a problem question? A. How much inventory is lost each year due to theft? B. How many customers complain each month. C. How has scheduling been an issue for you in the past? D. Did you incur any fines this year? E. All of these.

C.

Which of the following is a situation question? A. Are you responsible for calculating deductions? B. Has the payroll ever been incorrect? C. All of these. D. Are your taxes always filed properly? E. Are you aware of the current labor law changes?

C.

Implication questions help you uncover: A. All of these. B. The basic problems the prospect has where you can help. C. The value or benefit that is gained by solving the problem. D. The pain or consequences that result when the customer's problems continue. E. Basic facts needed to understand the customer's current situation.

D.

So, what is value according to our class videos? A. Value is derived by the seller only through the sales proposal and relates to the time value of money. B. Value is defined only by a discount from list price. C. All of these are a part of the definition of value. D. It is the benefit derived from using a product minus the costs to acquire and use it. E. Value is based only on the dollar equivalent of features, advantages, and benefits.

D.

The best way of knowing if you're providing key benefit statements to your customer is: A. By making sure all features are told to customers so they know all the advantages your product has compared to the competition. B. By clearly telling them what each feature will allow them to do. C. All of these. D. By using the "So What?" test or ending your product statements with, "So what this means to you is..." E. By explaining the features and saying they are beneficial.

D.

Which of the following is essential for success in larger sales? A. Situation Questions B. Open-Ended Questions C. Problem Questions D. Implication Questions E. Situation and Problem Questions

D.

With respect to salespeople, which of the following best describes the use of Porter's Value Chain? A. It is the chain of evidence (like in a trial) that connects the features of the salesperson's product to the benefits of using the product. B. All of these. C. It is the sum of values associated with repeated purchases of the seller's product as it becomes more familiar to all users. D. It helps salespeople identify the bigger picture of where in a customer's organization the salesperson's product might provide value. E. It is the chain of words that connects the feature to the advantage and finally to the benefit.

D.

Stating an agenda is important because: A. It helps you to fully understand the customer's needs. B. It sets you up to ask for the business. C. It sets a good first impression about how you will look, dress, and act in future meetings. D. It accomplishes all of these things. E. It puts the customer at ease about what you will discuss and establishes the salesperson's control of the conversation.

E.