MKTG-430 Exam 1
________ is composed of personal standards, including honesty, integrity, and moral strength, which is highly valued in sales.
Character
________ is the basic ingredient of character that is exhibited when you achieve congruence among what you know, say, and do, which is a highly valuable trait for a person in sales.
Integrity
________ can influence your relationships and can reinforce or contradict the spoken word.
Your nonverbal messages
The first step in developing a relationship strategy is ________.
adopting a win-win philosophy
Too often people confuse their ________.
ethical and legal standards
Careers in selling offer many rewards, but the primary rewards include ________.
financial rewards, recognition, security, and opportunities for advancement
Self-concept is an important dimension of the relationship strategy. A few of the practical approaches to developing a positive self-concept are to________.
focus on the future, not on past mistakes or failures; become an expert in selected areas; and develop a positive mental attitude
The trends that gave rise to strategic selling included ________.
global competition, more diverse product lines, more decision makers, and demand for custom-made solutions
Personal selling occurs when a company representative ________.
interacts directly with a customer or a prospect to present information about a product or service
The phrase, "Personal selling must be viewed as an exchange of value" is ________.
one of the three general guidelines that serve as a foundation for a personal code of ethics
The clothing we wear and our appearance can influence ________.
our likability, thereby adding value to your selling relationships
Fulfilling commitments builds trust, and trust is the most important precondition of ________.
partnering relationships that create value
Companies who sell mainly to transactional buyers do not see the need to ________.
perform needs assessment, problem solve, build relationships, or follow-up
The evolution of personal selling is seen through several stages. These stages include the________.
persuader stage and then the problem-solver stage
Strategic planning is a ________.
process that matches the firm's resources to its market opportunities
Personal selling is an extension of _____.
promotion
Careers in sales include both inside and outside sales personnel. The primary responsibilities of inside salespeople often include ________.
prospecting customers, generating leads, and qualifying leads for outside salespeople
Once an initial sale has been made by an outside salesperson, inside salespeople are often asked to ________.
provide ongoing customer support, service, and be alert for new sales opportunities
Observations that provide the basis for ________ can break the ice and speed up building rapport.
small talk
Partnering is a strategically developed long-term relationship that ________.
solves the customer's problems and adds value in various ways
The ________ buyer wants to do business with an institution that can be trusted and looks beyond the well-qualified salesperson and assesses the entire organization.
strategic alliance
The skills that matter most to today's leading account managers are ________.
strategic consulting and partnering skills
The United States law that prohibits U.S. companies from using bribes or kickbacks to influence foreign officials is ________.
the Foreign Corrupt Practices Act
Developing a relationship strategy is important and involves three major challenges, which are ________.
the challenges of building new relationships, elevating relationships to a business level, and managing relationships
Today, ________ is an important symbol of respect, and in business settings it is the proper greeting.
the handshake
The strategic plan should be a guide for ________.
the strategic selling plan
Major advances in information technology and electronic commerce enabled salespeople and marketers to enhance personal selling through ________.
the use of computers, mobile phones, smartphones, websites, and customer relationship management (CRM) tools
There are ________ general guidelines that serve as a foundation for a personal code of ethics.
three
For the buyer in a ________ sales situation, he or she might purchase a product from a sales person he or she feels might not be comfortable with if it meets the purchasing requirements.
transactional
Business ethics translate values into appropriate and effective foundational behaviors that ________.
ultimately build and strengthen partnering relationships
The three prescriptions for success in personal selling are part of the ________.
Strategic/Consultative Selling Model
The four major sources of sales training are ________.
corporate-sponsored training, training provided by commercial vendors, certification studies, and colleges and universities
Knowledge workers are individuals whose working effort is centered on ________.
creating, using, sharing, and applying all types of knowledge
Visualization and positive self-talk are parts of the ________.
four-part self-improvement strategy program
For most companies in the Unites States, _____ is (are) the largest marketing expenditure.
full-time sales people
Strategic account management is the enterprise-wide sales strategy for ________.
growth, profitability, customer loyalty, and customer-driven innovation
Cultural issues affect the sales environment. Culture is the sum total of beliefs, values, ________.
knowledge, ethnic customs, and objects that people use to adapt to their environments
The Strategic/Consultativedash-Selling Model is composed of the following broad strategic areas: ________.
relationship, product, customer, and presentation
It is important to keep in mind that all self-improvement is ________.
self-initiated
A key element of strategic account management is involving a ________.
senior-level manager on the sales and buying teams in relationship development, product configuration, and service after the sale
The information economy will reward those salespeople who have ________.
skills, knowledge, and motivation to create value at every step of the sales process
Those who adopt the CARE model are likely to become ________.
trusted, respected, and invaluable partners to their customers
The annual National Business Ethics Survey found that about ________ percent of employees said ethics training is useful or somewhat useful.
90
________ is the first step in a strategic account relationship.
Learning as much as possible about the proposed partner
________ are two non-verbal ways we communicate to a potential customer.
Our facial expression and eye contact
Which of the following statements about women in sales are true?
Women earn about the same as their male counterparts.
The foundation for the marketing concept is ________.
a business philosophy that leaves no doubt in the mind of every employee that customer satisfaction is of primary importance
Courses in personal selling in community colleges and four-year colleges and universities provide students with ________ that help them become more effective.
a repertoire of skills
The definition of value-added selling is ________.
a series of creative improvements in the sales process that enhance the customer experience
Restructuring of America from an industrial economy to an information economy began ________.
about 50 years ago when we shifted from heavy industrial activity to an emphasis on information processing
The principles of ________ can be learned and applied by people whose personal characteristics are quite different.
adaptive selling, listening, and customer orientation
The development of a personal selling philosophy involves three prescriptions: ________.
adopting the marketing concept, valuing personal selling, and becoming a problem solver and partner with your customer
Your voice is an important element in verbal communication. In order to be more effective it is suggested that you _____.
avoid a speech pattern that is dull and colorless
Strategic sales planning is an important element of the problem-solver stage. It lays the groundwork for ________.
a value-added form of consultative selling
To achieve excellence in terms of ethical practices, you have to ________.
believe that everything you do counts
Preparation for a career in personal selling begins with ________.
building on the development of a personal philosophy and a set of beliefs that provide guidance
The three keys to a partnership relationship are ________.
building shared values, sharing purpose and vision, and moving from selling to supporting
Partnering in a sales setting emphasizes ________.
building strong and lasting customer relationships during every aspect of the sale and maintaining them after the sale
The acronym CARE, used by Andrew Gallan, is used to remind his representatives of behaviors that ________.
build long-term relationships
The trend toward increased professionalism in personal selling has been the stimulus for ________, which is a type of training and education initiative.
certification programs
Many ________ are playing a more active role in character development.
colleges and universities
We use computers less for data crunching and more for ________.
connecting
There are two types of sales situations in which the buyer does not separate trust in the product from the person selling it. These are ________.
consultative sale and strategic alliance sale
In the partnering style seller/buyer relationship, a high level of ethical decision making becomes the foundation for ________.
creating value
Under the marketing concept, ________ are the paths to sales and profits.
customer focus and value
Even though this is the age of information, companies like DuPont, Kraft Foods, and General Electric have adopted a philosophy that focuses on ________.
customer satisfaction, team selling, and relationship selling
Salespeople often face ethics challenges. Although unethical conduct might be attractive to one or more of the stakeholders, these challenges serve as a basis for ________.
destroying the long-term relationship, product, and customer and presentation strategies
Once the marketing concept becomes an integral part of a firm's philosophy, its management seeks to ________.
develop a network of marketing activities that maximize customer satisfaction and profitability
Missionary or detail sales people ________.
develop goodwill, provide information, and stimulate demand for a product
From an ethical standpoint, the role of the salesperson is to _____.
diagnose buyer needs
Company policies and practices have a major impact on the ethical conduct of salespeople. These policies should cover ________.
distributor relations, customer service, pricing, product development, and related areas
With its emphasis on ________, selling has become a master skill for success in the information economy.
effective and adaptive interpersonal interaction
A(n)________ makes the salesperson want and need to make the sale. It is another basic quality that is of critical importance in personal selling.
ego drive
In the field of personal selling, ________ is a predictor of success.
emotional intelligence
A salesperson simply cannot sell well without the invaluable quality of ________ to get critical feedback from the client.`
empathy
Jobs in selling today _______.
employ more people than accounting, engineering, and law combined
Value creation begins with an understanding of the customer's value needs. Salespeople can create value in many ways, including ________.
establishing a relationship based on trust, carefully identifying the customer needs, and identifying the best possible product solution
Success in sales is more likely to be driven by _____.
ethics and values
The study of ________ reveals a number of ways to enhance your relationship strategy and add value. This helps the salesperson perform his or her work with poise and confidence.
etiquette and manners
Three classic guidelines for building strong relationships include ________.
expressing genuine interest, being a good listener, and encouraging others to talk about themselves
Unethical sales practices will ultimately ________.
impact relationships with customers
The decline in popularity of transactional sales approaches is due to industry trends, which ________.
includes e-commerce and the increased complexity of businesses
Information technology along with ________ create value for both the buyer and seller by improving speed, ability to collaborate, customer engagement, and accountability.
innovative sales practices
The marketing concept is a principle that holds that achieving organizational goals depends on ________.
knowing the wants and needs of target markets and delivering the desired products
The ability to ________ is critical to success in selling.
manage one's time, set priorities, and execute successfully
It is imperative for ________ to understand and acquire the skills of personal selling.
marketing and customer service representatives
Consultative selling is an extension of the ________.
marketing concept
Transactional selling is a sales process that most effectively ________.
matches a value-conscious buyer who is primarily interested in price and convenience
In consultative sales, the impact of relationships is quite important. A consultative sale emphasizes ________.
need identification, which is built on trust and respect
Psychic income, which comes from two major psychological factors, helps satisfy our need for ________ to help achieve higher levels of performance.
recognition and security
Proper use of the rules of etiquette can enhance the selling relationship. An example of proper etiquette in sales is _____.
recognizing the importance of punctuality
When you achieve a goal, or at least show progress toward a goal, you should _____.
reward your progress.
Self-improvement strategies such as relationship building can be achieved by ________.
setting goals, using visualization, using positive self-talk, and rewarding your progress
Partnering has been driven by ________.
several economic forces
Establishing and maintaining partnering-type customer relationship strategies focus on several key groups and are a vital aspect of selling. Those key groups are ________.
the customer, the secondary decision makers, company support staff, and management personnel
Value creation begins with a(n) _____.
understanding of the customer's value needs
You can enhance your relationship strategy by ________.
using social media such as Facebook, LinkedIn, and other similar sites
The organization's moral and ethical tone is set by the ________.
very top management personnel
The Uniform Commercial Code (UCC) is a major law influencing sales throughout the United States. Some of the primary areas of the UCC follow _____.
warrantees and guarantees
Sales personnel involved in ________ earn the highest level of compensation.
valued-added selling
