Marketing Test 3

QUESTION 10 of 20: Personal selling is the most expensive form of communication in marketing, costing more to reach each individual customer than other forms of advertising and promotions. However, the unique advantage personal selling provides is: a)Flexibility and control b)Efficiency c)Ability to reach mass audiences d)Strong branding

a)Flexibility and control

QUESTION 14 of 20: Twitter is an example of a microblog that provides short online journals that are pushed out to subscribers. a)Trueb)False

a)True

QUESTION 17 of 20: The B2B buying process is more formal than the B2C buying process. a)Trueb)False

a)True

QUESTION 8 of 20: The B2B buying process only applies to buyers for businesses in for-profit industries. a)Trueb)False

b)False

QUESTION 7 of 20: Mr. Smith employs a team of sales representatives whose primary task is to answer calls from prospective and current customers who have received their company catalog and are interested in making a purchase. He compensates his team using a competitive hourly rate, and he is able to keep costs low since these salespeople do not meet with clients and therefore have no expense account for travel, meals, etc. His salespeople are most likely: a)Field sales representatives b)Inside sales representatives c)Missionary sales representatives d)Manufacturer's sales representatives e)Sales managers

b)Inside sales representatives

QUESTION 19 of 20: The benefit of a(n)_____________, fill in the blank,is the degree of control the company has over the message a salesperson provides to a prospect. a)Advertising campaign b)Standardized presentation c)Outlined presentation d)Adaptive selling technique e)Customized presentation

b)Standardized presentation

QUESTION 3 of 20: Compared to business-to-consumer transactions, business-to-business transactions: a)Are more successfulb)Are relationship drivenc)Are much higher in volumed)Require less of an investment of time by salespeoplee)Are easier to close

c)Are much higher in volume

QUESTION 4 of 20: A sales practitioner whose job consists primarily of bringing in new clients by making sales calls on customers at the customer's place of business is involved in: a)Inside sales b)Retail selling c)Field selling d)Missionary sales e)Consultative selling

c)Field selling

QUESTION 5 of 20: When a potential customer expresses concerns during a sales presentation, or reasons why they do not wish to buy, the salesperson needs to move to the step in the sales process known as: a)Active listening b)Conflict resolution c)Responding to objections d)The rebuttal period e)Obtaining commitment

c)Responding to objections

QUESTION 6 of 20: As a bartender of a local restaurant, you ask if a customer would like top shelf liquor, like Grey Goose, in his martini, instead of the standard brand. This is a form of: a)Add-on selling b)Suggestive retailing c)Selling up d)Psychological selling e)Subliminal perception

c)Selling up

QUESTION 14 of 20: A lead is converted into a prospect once the seller establishes: a)Buying authority b)Financial capability c)Willingness to buy d)All of the above e)None of the above

d)All of the above

QUESTION 20 of 20: The chance of obtaining a straight rebuy from a buyer increases if the salesperson has: a)Created a strong working relationship with the internal team in his/her companyb)Followed up with the buyer on a daily basis to ensure their satisfactionc)Obtained referrals from a current customerd)Established an effective relationship with the buyer, based on good communication and providing valuee)Created a lengthy list of prospects

d)Established an effective relationship with the buyer, based on good communication and providing value

QUESTION 5 of 20: Similar to the consumer decision making process, the B2B buying process begins with the_____________, fill in the blank,step and ends with_____________, fill in the blank,. a)Need recognition; Purchaseb)Need recognition; Follow upc)Request for bids; Purchase orderd)Need recognition; Post purchase evaluatione)Prospecting; Follow up activities

d)Need recognition; Post purchase evaluation

QUESTION 2 of 20: Before launching into his sales presentation, John conducted a(n)_____________, fill in the blank,so that he could customize his presentation to this specific prospect. a)Referral initiative b)Qualification process c)Demonstration d)Needs analysis e)Interrogation

d)Needs analysis

QUESTION 16 of 20: The stage in the sales process in which the salesperson discusses a product feature, links it with the product benefit and then ties it back into an identified customer need is the: a)Approach b)Qualification process c)Demonstration d)Presentation e)Trial close

d)Presentation

QUESTION 15 of 20: When a customer comes into Best Buy to purchase a cellular phone, the sales staff reminds him that he should also consider buying a charger for his car as well as a protective carrying case for the device. This is an example of: a)Cross selling b)Upselling c)Bait and switch d)Suggestive selling e)Psychological retailing

d)Suggestive selling

QUESTION 19 of 20: Why is it important for a website to be easy to navigate? a)It costs less to create a website that is easy to navigateb)Customers want relevant and timely informationc)To ensure that customers understand the site's purposed)To reduce frustration and allow users to easily find what they are looking fore)To help the site appear first in search results

d)To reduce frustration and allow users to easily find what they are looking for

QUESTION 13 of 20: When customers become a company's brand advocate, they often voluntarily market the company on their own by telling their friends about it, usually on social media sites. This is called: a)Owned mediab)Social networkingc)Referral trafficd)Viral marketinge)Paid media

d)Viral marketing

QUESTION 9 of 20: Which of the following circumstances might lead to a modified rebuy instead of a straight rebuy? a)Dissatisfaction with the performance of the current supplierb)Changing quality levels needed in the product or servicec)A price increase from the vendor requiring negotiationsd)A change in the required performance featurese)All of the above

e)All of the above

QUESTION 9 of 20: When users save and organize links to online resources, they are using the type of social media commonly referred to as a: a)Social network b)Media sharing community c)Blog d)Forum e)Bookmarking site

e)Bookmarking site

QUESTION 20 of 20: The first step in the sales process is: a)Approaching the potential customer b)Presenting the product or service c)Demonstrating the product d)Detailing the sale e)Prospecting for potential customers

e)Prospecting for potential customers

QUESTION 12 of 20: A new microbrewery is impressed that they are receiving 40,000 page views a month on their website. Upon closer inspection of the site statistics, they notice that each unique user views 10 pages on average before leaving the site. How many unique users does the site attract per month? a)10b)400c)4,000d)40,000e)400,000

4,000

QUESTION 17 of 20: Owned media: a)Are the media controlled by the consumerb)Refers to a media channel that the company dominates compared to the competition, through positive reviews, etc.c)Refers to a media channel that the company controls, such as a corporate website, giving it a way to interact extensively with its customer based)Traditional forms of media, such as television and radio, that are owned by large corporations, such as ABC, Fox, CNN, and Clear Channele)None of the above

Refers to a media channel that the company controls, such as a corporate website, giving it a way to interact extensively with its customer base

QUESTION 11 of 20: Rejection is an inevitable part of making initial contacts with potential customers. a)True b)False

True

QUESTION 18 of 20: The most common objection heard during the sales process is price. a)True b)False

True

QUESTION 7 of 20: Any point of contact between a buyer and a seller is a brand "touch point". a)True b)False

True

QUESTION 8 of 20: A company's website often serves as a digital brochure and a virtual storefront for the firm. a)True b)False

True

QUESTION 1 of 20: When Victoria's Secret posted a new product photo on Instagram, they received 25,000 likes. This number represents the conversion rate for this social media post. a)True b)False

False

QUESTION 10 of 20: Since the percentage of shoppers who use mobile devices for viewing websites is still relatively low, optimizing a website for mobile platforms is not imperative as long as the site functions well from a desktop computer. a)True b)False

False

QUESTION 11 of 20: The measure of the number of individual pages that users click on during a given period of time is known as the number of: a)Conversionsb)Unique usersc)Page viewsd)Interactionse)Bounces

Page views

QUESTION 16 of 20: Ron Jon's Surf Shop has 36,400 followers on their Facebook page. This is a measure of the page's: a)Interactionsb)Reachc)Conversion rated)Page viewse)Referral traffic

Reach

QUESTION 12 of 20: Manufacturer's Sales Representatives: a)Connect buyers and sellers and represent the seller in the sales process in exchange for a commission b)Are responsible only for cold calling activities in the prospecting stage of the sales process c)Are a unique type of sales representative that do not sell the product but rather encourage people who influence a buying decision to recommend it d)Are business-to-consumer salespeople who deal with end users of the product e)Work internally to field inbound telemarketing calls from customers wishing to place a repeat order

a)Connect buyers and sellers and represent the seller in the sales process in exchange for a commission

QUESTION 1 of 20: _____________, fill in the blank,is a system of computing the cost of production or of running a business by allocating expenditures to various stages of production or to different operations of a firm. a)Costingb)Proposal developmentc)A buying centerd)Just-in-timee)Wholesaling

a)Costing

QUESTION 5 of 20: Online exposure received on forums, rating/review sites, and consumer-generated viral marketing are considered to be: a)Earned/organic media b)Paid media c)Owned media d)Traditional media e)Support media

a)Earned/organic media

QUESTION 4 of 20: The riskiest and most time intensive type of decision for the buyer is the_____________, fill in the blank,. a)New purchaseb)Modified rebuyc)Adaptive sellingd)Straight rebuye)Request for bids

a)New purchase

QUESTION 10 of 20: Manufacturers/producers are buyers who: a)Purchase component parts and raw materials that will be used to create finished productsb)Resell the productc)Have unique buying centers, purchase processes, and needs compared to for-profit companiesd)Represent the seller in a marketing exchange for a commission of the salee)Agents/brokers in a sales transaction

a)Purchase component parts and raw materials that will be used to create finished products

QUESTION 6 of 20: The document that states the amount and price of a good or service that a company is willing to sell is called a(n): a)Quoteb)Purchase orderc)Request for bidsd)Request for proposalse)Sales presentation

a)Quote

QUESTION 9 of 20: The idea that meeting a customer's expectations will lead to trust, which will lead to long term satisfaction and loyalty, can be identified as the concept of: a)Relationship selling b)Consultative selling c)Adaptive selling d)Business-to-business sales e)Missionary sales

a)Relationship selling

QUESTION 13 of 20: Companies focused on the business-to-business market identify other companies who will use their products to create their own products, to operate their own business, or to resell to other customers. a)Trueb)False

a)True

QUESTION 2 of 20: A website retailing children's clothing received 100,000 page views last month and 42,000 unique users. 13,000 orders were placed. What is the conversion rate for the site? a)13% b)31% c)42% d)323% e)The conversion rate cannot be determined

b)31%

QUESTION 4 of 20: Characteristics of an effective website include all of the following EXCEPT: a)Aesthetically pleasing design b)A place for users to interact with each other c)Intuitive navigation d)A clear purpose e)Current and well-written content

b)A place for users to interact with each other

QUESTION 3 of 20: Richard has been in sales for several years and has learned that customers are unique. Different customers respond differently to different sales presentations. He often asks probing questions and listens for clues that will allow him to modify his presentation during the sales calls so that it is more effective at gaining a client's attention. He is using: a)The benefits approach b)Adaptive selling c)Relationship marketing d)Marketing research e)Hunting and gathering

b)Adaptive selling

QUESTION 11 of 20: Business-to-business marketing involves buying and selling goods or services by all of the following except: a)Manufacturersb)Consumersc)Retailersd)Producerse)Wholesalers

b)Consumers

QUESTION 14 of 20: Since the business-to-business market is smaller and more personal than the business-to-consumer market, B2B buyers rarely utilize online information sources, such as search engines and social media, when gathering information about a potential supplier. a)Trueb)False

b)False

QUESTION 16 of 20: The B2B buying process happens at a faster pace than the B2C buying process. a)Trueb)False

b)False

QUESTION 7 of 20: Maria's current vendor has announced an across-the-board rate increase that will increase the cost of doing business with this vendor by 10%. She cannot afford to pay the increase as it will cut too deeply into her profit margin, so she has two choices: buy less from the current vendor or look for a new vendor to supply a similar product at a more competitive price point. Either way, she will engage in a_____________, fill in the blank,buying situation. a)Straight rebuyb)Modified rebuyc)New purchased)Business-to-consumere)Retailing

b)Modified rebuy

QUESTION 6 of 20: The purpose of a company's website may include all of the following EXCEPT: a)Build a brand and create an image b)Provide a credible source of unbiased information c)E-commerce / sales d)Information and communication with an audience e)Engagement and entertainment functions

b)Provide a credible source of unbiased information

QUESTION 15 of 20: The document that states the price and the amount of a good or service that the buyer has agreed to purchase is called a(n): a)Quoteb)Purchase orderc)Request for bidsd)Request for proposalse)Proposal

b)Purchase order

QUESTION 19 of 20: After Richard provided a brief demonstration of how the product worked and responded to all questions from the buyer, he proceeded to obtain commitment from the buyer by asking for the company's business. During this stage of the sales process, the buyer provided a signed_____________, fill in the blank,acknowledging acceptance of the terms of the offer so that the order could be delivered to meet the buyer's deadlines. a)Quoteb)Purchase orderc)Request for proposalsd)Bide)Needs analysis

b)Purchase order

QUESTION 17 of 20: Once a salesperson has identified leads, he/she next must engage in the process of_____________, fill in the blank,in order to establish whether the lead has the authority, resources and willingness to buy. a)Identifying b)Qualifying c)Mentoring d)Closing

b)Qualifying

QUESTION 2 of 20: The buyer at a major paper plant is in need of new machinery to replace outdated technology. They have issued a(n)_____________, fill in the blank,to the manufacturers of this type of machinery to help them find the best product at the best price. a)Quoteb)Request for proposalc)Purchase orderd)Demonstratione)Commitment request

b)Request for proposal

QUESTION 8 of 20: Closing is the point in the sales presentation when: a)The client shuts the door behind a sales representative once he leaves the office b)The seller obtains commitment from a buyer and finalizes the details of the sale c)The seller closes his laptop for dramatic effect in order to build curiosity d)The seller wraps up the sales presentation and asks the buyer if he/she has any questions e)The seller finishes asking questions in order to identify the buyer's needs

b)The seller obtains commitment from a buyer and finalizes the details of the sale

QUESTION 15 of 20: Each week on Monday morning, Claire pours through her website's statistics to track the effectiveness of their online campaigns. This Monday, she notices that although 3,500 unique users came to the site, they experienced a bounce rate of 30%. How many users left the site after landing on one page of the site? a)105b)245c)1,050d)2,450e)70%

c)1,050

QUESTION 20 of 20: As Misty designed the banner ad that would be used for their paid online media buy, she decided to promote the company's special discount currently being offered to online users. The ad simply invited customers to "click here for 25% off and free shipping," at which point the user was redirected to her company's website. Once implemented, she found the campaign to yield a much better click through rate than a typical online banner campaign. It was likely due to: a)The referral traffic of competing websitesb)The bounce rate of the websitec)A good "call to action"d)Viral marketinge)Organic media

c)A good "call to action"

QUESTION 13 of 20: Missionary salespeople: a)Connect buyers and sellers and represent the seller in the sales process in exchange for a commission b)Are responsible for cold calling activities in the prospecting stage of the sales process c)Are a unique type of sales representative that do not sell the product but rather encourage people who influence a buying decision to recommend it d)Are business-to-consumer salespeople who deal with end users of the product e)Are salespeople who only deal with non-profit organizations

c)Are a unique type of sales representative that do not sell the product but rather encourage people who influence a buying decision to recommend it

QUESTION 3 of 20: The measure of the amount of traffic referred to a site through search engines, affiliate programs, and display advertising is called: a)Page views b)Viral marketing c)Referral traffic d)Owned media e)Organic media

c)Referral traffic

QUESTION 18 of 20: If a buyer is in a new buy situation, the seller will need to collaborate extensively with_____________, fill in the blank,to make sure that the proposal includes the most detailed and accurate information possible. a)The seller's internal production team for information regarding capacity and costingb)The seller's internal financial and accounting departments to determine the terms of sale and possible trade discountsc)Salespeople from competitive firms who can provide insight into what the final selling price should bed)Both A & Be)All of the above

d)Both A & B

Post-sale activities employed by salespeople that are critical to strengthening customer relationships are known as: a)Handling objections b)Obtaining commitment c)Consultative selling d)Follow-up activities e)Post-presentation feedback

d)Follow-up activities

QUESTION 18 of 20: An interactive platform where content is created, distributed, and shared by individuals on the web is called: a)A review siteb)Bookmarkingc)A portald)Social media

d)Social media

QUESTION 12 of 20: If a B2B customer is satisfied with an existing supplier, it will probably engage in a(n)_____________, fill in the blank,to purchase additional quantities of the item. a)New purchaseb)Modified rebuyc)Adaptive sellingd)Straight rebuye)Request for bids

d)Straight rebuy