Chapter 10 - Practice Quiz

Hiring a new salesperson can make this phase of personal selling lengthier. prospect and evaluate prepare present close

prospect and evaluate

When considering the customer development funnel for physical products, the steps in the ________ funnel are the same as are found in the traditional sales funnel. "Keep Customers" "Grow Customers" "Get Customers" "Identify Customers"

"Get Customers"

________ is often used to support the corporate identity and value propositions that are established through public relations efforts. Personal selling A corporate newsletter Advertising A press kit

Advertising

________ is a type of CRM report that segments by customer or customer group on purchases or dates of purchase. Customer vector Sales process Sales outcome Prospective sales

Customer vector

Billboards are a tradition form of ________, and the online equivalent would be the placement in search engine results and portal ads. sales promotion product placement OOH ad placements referral promotions

OOH ad placements

________ allows you to find out the buyers' main concerns and address them; in advertising you can only guess. Proximity Cross selling Native advertising Personal selling

Personal selling

Follow-up refers to the contacts you periodically make with customers in order to remind them of your business, and your interest in their business. True False

True

There is a general formula for generating interest in your product or service, and the first step involves putting together a list of potential clients, called "prospecting." True False

True

Diversification is a strategy whose goal is growth, based on selling more of the firm's product or service to the existing customer base. selling in areas or to groups previously not served by the business. selling existing customers a product or service they have never bought before. adding new products or services to the firm's existing collection of offerings.

adding new products or services to the firm's existing collection of offerings.

The close of a sale is the end of the sale. true false

false

The marketing funnel is a rule of thumb about how many prospective customers it takes to find one who will actually make a purchase—for mass-market advertising the typical ratio is 1,000 to 1, while for Internet advertising, it is 500 to 1. true false

false

Which variety of paid media costs the most for each 1,000 impressions? newspaper ads magazine ads radio ads cable TV ads

newspaper ads

Which of the following terms refers to a rule of thumb about how many prospective customers it takes to find one who will actually make a purchase? the customer vector your market penetration the marketing funnel your virtuous cycle

the marketing funnel

In the customer development funnel for physical products, the steps in the "Get Customers" funnel are: awareness, interest, consideration, and purchase. true false

true

Paying for a local organization's needs in exchange for recognition is referred to as publicity. donation. personal selling. sponsorship.

sponsorship

Putting together a list of prospective clients is called preparing. presenting. formulating. prospecting.

prospecting

Which of the following sets of numbers are the three you need to arrive at your sales forecast? potential market, hit rate, and cost of sale prospective customers, hit rate, and sale amount prospective customers, hit rate, and cost of sale potential market, hit rate and sale amount

prospective customers, hit rate, and sale amount

Which of the following is true of the presentation phase of personal selling? you don't need a rapport, just their attention keep your presentation consistent you are selling features, play them up rehearse presentations and memorize facts

rehearse presentations and memorize facts

Product expansion is a strategy whose goal is growth, based on selling more of the firm's product or service to the existing customer base. selling in areas or to groups previously not served by the business. selling existing customers a product or service they have never bought before. adding new products or services to the firm's existing collection of offerings.

selling existing customers a product or service they have never bought before.

Business owners can figure how to better target ads or promotions to particular types of customers if they track sales of their competitors. they identify the defects in their products. they use the diversification strategy rather than the product expansion strategy. they link sales and purchase basis to the type of customer.

they link sales and purchase basis to the type of customer.

Most service providers get business usually through referrals or word-of-mouth. true false

true

Harry Howard has established his own real estate company in western Pennsylvania. Which of the following would be the fastest way for Harry to build his client base? word-of-mouth business directory sites personal selling using a succinct message

word-of-mouth