Pro Selling Final Exam- CH 7-9
14) The stages a product goes through from the time it is first introduced to the market until it is discontinued is called the: A) natural evolution B) amortization C) position D) product life cycle E) specific feature
D
11) Estimating the potential sales volume that might be generated by each new account is part of developing: A) a prospecting and sales forecasting plan B) a sales analysis C) the target market D) a referral list E) analytic software
A
16) A careful study of buying behavior reveals that people make buying decisions based on: A) a combination of emotional and rational buying motives B) emotional buying motives only C) rational buying motives only D) social buying motives only E) group theory motives only
A
1) In order for a customer to arrive at a buying decision the salesperson should present the product according to: A) the individual customer's needs B) his/her own point of view C) a standardized procedure or presentation D) the buyer profile based on industry research E) the chronological timeline of the product
A
1) The process of qualifying prospects includes answering all of the following questions EXCEPT: A) Is this the senior executive? B) Does the prospect have a need for my product? C) Can the prospect make the buying decision? D) Can the prospect pay for the purchase? E) Does the prospect have the desire to make the purchase?
A
10) A good way to determine a customer's satisfactions is to: A) ask the customer questions about their needs B) find out what competitors are doing C) buy a research database D) run statistical modeling E) conduct training sessions
A
11) At which stage in the typical buying process is the customer aware of a need and has evaluated one or more solutions with the resolve to do something but may have obstacles or concerns to contend with? A) Resolution of problems B) Need awareness C) Evaluation of solutions D) Purchase E) Implementation
A
16) CRM systems can contain information from all of the following sources EXCEPT: A) notes entered by customers B) e-mails sent to and from the company C) web sites D) files of material in the system E) call notes entered by salespeople
A
16) To increase the odds that customers will give referrals, a salesperson should: A) build value into the sales process B) offer free product or discounts for referrals C) motivate buyers through time pressure D) provide a rational buying motive E) ask sales managers for permission to cut prices
A
21) A customer will buy one product instead of another because of the: A) product buying motive B) patronage buying motive C) rational buying motive D) emotional buying motive E) systems buying motive
A
21) The term "social network" refers to: A) your set of direct and indirect contacts B) your set of direct contacts C) your set of indirect contacts D) an industry affiliation group E) an industry research group
A
26) An aroused need, drive, or desire is referred to as: A) a buying motive B) an emotional motive C) a compelling motive D) a rational motive E) a personal motive
A
26) CRM software is useful for all of the following reasons EXCEPT: A) customer information can be shared with competitors B) customer information is available to many people in the company C) customer information is located centrally D) customer information is available instantly E) customer information can be changed in real time
A
29) Value creation investments are the highest in: A) strategic alliance sales B) transactional sales C) generic sales D) consultative sales E) collaborative sales
A
3) A value proposition: A) is the set of benefits and values the company promises to deliver to customers to satisfy their needs B) is a demand-based model C) is best used when customers are ill-informed D) is unrelated to the firm's positioning strategy E) is derived from the costs of production
A
4) The positioning process: A) must be continually modified to match customer wants and needs B) is a value-added process conducted by the salesperson C) means separating yourself from your competitors D) is performed by the customer as part of the buying cycle E) should be performed every five years
A
6) Which one of the following efforts is used by progressive marketers to improve the quality of the prospecting process? A) Shorten the sales cycle by quickly determining which of the new prospects are qualified prospects. B) Reduce the number of prospects who board the "Ferris wheel." C) Avoid the temptation to develop quality standards that might interrupt the steady supply of prospects. D) Increase the use of telemarketing to identify prospects. E) Make more cold calls to increase the volume of the pipeline.
A
6) Which type of consumer buying situation requires very little consumer involvement and brand differences are usually insignificant? A) Habitual buying decision B) Straight rebuy decision C) Complex buying decision D) Modified rebuy decision E) Partner buying decision
A
7) Customer satisfaction arises from: A) a combination of the product, company and salesperson B) the product itself C) the company that makes or distributes the product D) the salesperson who sells and services the product E) the price of the product
A
1) The decisions, activities and communication strategies that are directed toward trying to create and maintain a firm's intended product concept in the customer's mind are known as: A) product life cycle B) product positioning C) value-added concept D) potential product E) marketing
B
11) What is a potential downfall of using too many technical terms during a sales presentation? A) The customer might catch the salesperson in a misstatement. B) The customer might be too intimidated to purchase. C) The customer might know more about the product than the salesperson does. D) The customer might want a product with fewer capabilities. E) The customer might ask questions the salesperson cannot answer.
B
12) A customer will tend to screen out or modify stimuli. This process is known as: A) conscious input B) selective attention C) discrimination D) selectivity E) sensation
B
12) Which of the following is true regarding prospecting at trade shows? A) It is hard to identify prospects. B) It is easier to identify good prospects and close sales at a trade show. C) It is costly because it is hard to close sales for trade show prospects. D) It requires over five sales calls to close a sale from trade show prospects. E) Trade show prospects are less motivated to buy than are other prospects.
B
17) Product buying motives include all of the following EXCEPT: A) design and/or engineering preference B) social preference C) price preference D) brand preference E) quality preference
B
17) The goal of selling strategies for new and emerging products is to: A) encourage current customers to rebuy B) build desire for the product C) create relationships D) sell more units at a lower price E) introduce the product gradually
B
17) The portfolio model of classifying prospects involves: A) assigning each prospect a rating B) using multiple factors to classify prospects C) determining where a prospect is in the sales process D) using a sales forecast to predict which prospects will buy E) using external industry research
B
2) A typical company will lose approximately what percent of its customers every year? A) 5 to 10 B) 15 to 20 C) 25 to 30 D) 35 to 40 E) 45 to 50
B
2) The three major types of organizational buying situations are: A) new task buy, rebuy, and limited task buy B) new task buy, straight rebuy, and modified rebuy C) habitual buying decisions, variety-seeking buying decisions, and complex buying decisions D) transactional buy, consultative buy, and strategic alliance buy E) transactional buy, product buy, strategy buy
B
22) A key concept in networking is to: A) follow up with every person you make contact with B) select who you will follow up with based on their usefulness C) send an email to every contact D) follow up on all emails with a phone call three days later E) keep track of your contacts in CRM software
B
22) When products are indistinguishable or there is a prior relationship between customer and vendor, this is a(n): A) product buying motive B) patronage buying motive C) rational buying motive D) emotional buying motive E) group buying motive
B
26) Research reported in the Harvard Business Review indicates that it is very difficult to build customer loyalty if you are selling only: A) the generic product B) the expected product C) the potential product D) the value-added product E) the sales product
B
27) Cross-generational selling can be a challenge because different generations: A) have different basic emotional needs B) prefer different forms of contact C) do not speak the same languages D) feel mistrust for each other E) have power dynamic issues
B
27) Sales intelligence involves answering all of the following questions EXCEPT: A) Do you know me? B) Do you know your product? C) Do you know my company? D) Do you know my marketplace? E) Do you have an special value add-on?
B
28) As the level of competition increases, especially in the case of a mature product, salespeople must look more carefully into the: A) expected product B) potential product C) generic product D) value-added product E) well-established product
B
5) Your ability to separate yourself and your product from that of your competitors is referred to as: A) positioning B) differentiation C) value processing D) product placement E) marketing alliance
B
7) Justin Bremer of Wealth Designs needs to do which of the following before meeting with customers? A) rehearse his sales presentation B) research to determine each customer's specific needs C) contact the home office to confirm the customer's address D) meet with his sales manager about his flagging sales E) ask the receptionist for a meeting with the purchasing director
B
7) Which one of the following is a guideline for effective networking? A) Limit the number of people you meet in a given setting. B) When you meet someone, tell the person what you do. C) Follow up on every contact. D) Don't hesitate to do business while networking. E) Only offer a business card if the other person asks for it.
B
13) After physiological needs have been satisfied the next need level is likely to be: A) a romantic desire to attract the opposite sex B) to fulfill one's potential C) a freedom from danger D) worthiness in the eyes of others E) food and shelter
C
13) At-a-glance visualizations that define, monitor, and analyze the relationships existing in the pipeline or sales funnel are referred to as: A) sales forecasts B) pipeline analytics C) pipeline dashboards D) regression models E) commission reports
C
13) Salespeople can analyze their competitors using a(n): A) cost-benefit analysis worksheet B) ROI calculator C) competitive analysis worksheet D) analysis regression E) statistical model
C
18) In which value creation selling approach do salespeople focus a great deal of attention on customers' needs awareness? A) transactional selling B) strategic alliance selling C) consultative selling D) new task selling E) system selling
C
18) The goal of selling strategies for mature and well-established products is to: A) change buying habits B) build desire for the product C) create relationships D) sell more units at a lower price E) keep sales on an even level
C
18) The sales funnel model of classifying prospects involves: A) assigning each prospect a rating B) using multiple factors to classify prospects C) determining where a prospect is in the sales process D) counting all prospects equally E) asking directed questions
C
19) Which of the following statements about pricing policies is FALSE? A) Some companies maintain a pricing strategy that focuses on meeting competition. B) Pricing strategies often reflect the product's position in the product life cycle. C) The ability to offer the lowest price is usually the most critical factor in the sale of products and services. D) Price discounting is a competitive tool available to large numbers of salespeople. E) Transactional sales usually rely primarily on price.
C
23) A purchase based on the result of an objective review of available information is a(n): A) product buying motive B) patronage buying motive C) rational buying motive D) emotional buying motive E) stable buying motive
C
23) Cold calling can be an effective technique for reaching: A) decision makers B) senior executives C) potential prospects D) buying centers E) qualified leads
C
23) When is it NOT appropriate to use a low-price strategy? A) when you have a transaction-focused buyer B) when the buyer does not value quality C) when the buyer is a high-involvement buyer D) when the customer wants an "unbundled" product E) when the buyer is a low-involvement buyer
C
25) Money that a bank has available for customer loans would be an example of a(n): A) value-added product B) expected product C) generic product D) potential product E) customer product
C
28) A downside to focusing too much effort on prospects with little potential is: A) the pipeline may become hard to keep track of without CRM software B) managers may assign some prospects to other salespeople C) too little resources are available to focus on prospects with high potential D) a salesperson may forget customers' names E) sales commissions may max out the compensation plan
C
28) Each team member in a buying center: A) has equal decision making power B) contributes equally to the buying process C) has different areas of expertise D) must be courted fully by the salesperson E) has a different communication style
C
3) Mackay, CEO of Mackay Envelope Corporation, instructs his salespeople to develop a customer profile containing how many questions? A) 126 B) 86 C) 66 D) 46 E) 16
C
3) Which influence on buying decisions is defined as a set of characteristics and social behaviors based on the expectations of others? A) reference group B) social class C) role D) culture E) process
C
6) Creating a value proposition is a way of: A) choosing prices for products B) scaling the prices to different markets C) positioning your product D) keeping your product on the same level as the other products in the market E) choosing sales objectives
C
8) According to the buyer resolution theory, all of the following are important factors that the consumer is likely to consider before making a purchase EXCEPT: A) Where should I buy? B) What is a fair price? C) How many sellers are there? D) When should I buy? E) From whom should I buy?
C
8) Which one of the following publications would be a good source of information on prospects if you were involved in the sale of products in the international market? A) Middle Market Directory from Dun and Bradstreet B) Directory of Corporate Affiliations from Macmillan C) Data reports published by U.S. and Foreign Commercial Service D) Standard and Poor's Corporation Records Service E) Your local Chamber of Commerce directory
C
14) When a teenage girl asks her best friends for their opinions on a career opportunity, she is most likely seeking support from which of the following groups? A) culture B) subculture C) social class D) reference E) mastery
D
14) Which of the following is true regarding doing business in Germany? A) Germany has been described as a "high context" culture. B) Dinner is the most common meal for business meetings. C) Flashy brochures will have more impact than statistic-filled ones. D) There is a strong emphasis on punctuality. E) Non-verbal communication is more important than the words used to communicate.
D
19) According to Abraham Maslow, self-fulfillment (a full tapping of one's potential) is achieved throughout satisfaction of which of the following needs? A) esteem B) social C) safety and security D) self-actualization E) fullness
D
19) Educational seminars can be a good source of prospects because: A) people who pay for a seminar will buy product B) salespeople need help doing demonstrations C) more than half of the people who attend seminars will become customers D) they allow you to educate prospects about your product E) you can build a close into the keynote speech
D
20) There are five service-quality dimensions. Three of them include: A) durability, reliability and responsiveness B) standardization, reliability and empathy C) durability, reliability and empathy D) reliability, responsiveness and empathy E) reliability, service, and speed
D
21) Researchers at Texas A&M University have discovered five service-quality dimensions. What are they? A) responsiveness, reliability, empathy, tangibles and value B) tangibles, value, reliability, continuity and assurance C) reliability, responsiveness, value, assurance and continuity D) empathy, assurance, responsiveness, reliability and tangibles E) tangibles, reliability, value, empathy, and assurance
D
22) All of the following are price discounts that may be offered EXCEPT: A) quantity discount B) seasonal discount C) promotional allowance D) associate discount E) trade or functional discounts
D
24) A purchase based more on feelings than on logic is a(n): A) product buying motive B) patronage buying motive C) rational buying motive D) emotional buying motive E) group buying motive
D
24) Salesforce.com is a leading provider of: A) industry research B) placement of salespeople C) product development research D) CRM software E) payroll software
D
27) Yellow Freight Systems must provide clean, well-maintained trucks and well-trained drivers. This is an example of a(n): A) value-added product B) generic product C) potential product D) expected product E) customer product
D
29) A prospect list from a CRM database is likely to include all of the following information EXCEPT: A) the date the sale will close B) the likelihood of closing C) the dollar amount of the sale D) the manager's bonus on the salesperson's commission E) the forecasted amount of the sale
D
29) Salespeople should think of needs in terms of: A) the product B) the industry as a whole C) the typical customer D) each specific customer E) the competition
D
4) When a salesperson asks a customer to prepare a note or letter of introduction that can be delivered to the potential customer, this person is using which prospecting method? A) networking B) mail inquiry C) cold canvass D) referral E) trade show
D
4) Which buyer behavior theory focuses the salesperson's attention on five important factors that the customer is likely to consider before making a purchase? A) Buyer-action theory B) Compulsive-buying theory C) Need-satisfaction theory D) Buyer-resolution theory E) Feature-benefit theory
D
8) Satisfactions can come from all of the following EXCEPT: A) the product itself B) the company that makes the product C) the company that distributes the product D) the customer who buys the product E) the salesperson who sells the product
D
9) Which of the following is a true statement regarding prospecting? A) Personal observation is an unlikely prospecting technique. B) Cold calling prospecting is a systematic approach to identifying prospects. C) Salespeople should not use friends and acquaintances as a source of prospects. D) A salesperson cannot afford to spend time calling on persons who are not legitimate prospects. E) Networking should be avoided as a source of prospects.
D
9) Which of the following is an important limitation of the buyer resolution theory? A) Salespeople find the theory too complex. B) Customers already know the answer to the question, "What should I buy?" C) Few customers ask the question, "What is a fair price?" D) Some decisions are more difficult to make than others. E) It doesn't cover most situations.
D
10) Networking, as it applies to the field of selling, is a method of prospecting: A) with the telephone B) popular only in the telecommunications field C) which is seldom used today D) that is of dubious ethics E) that relies on making contacts with people and profiting from the connection
E
10) Which of the following motives would most likely make a customer buy from the same business they have been buying from? A) Systems buying motives B) Emotional buying motives C) Brand loyalty motives D) Product buying motives E) Patronage buying motives
E
12) In order to bring the Walker Hotel and Convention Center up to industry standards, each guest room was redecorated with new wallpaper, drapes, carpeting, mattresses and sofas. Mallanie Simms, sales manager for the Center, has recommended that guest rooms be upgraded with the addition of wide desks, voice mail, fax machines and 24-hour room service. From the viewpoint of most business travelers, these changes would result in the creation of a(n): A) potential product B) generic product C) expected product D) sales product E) value-added product
E
15) A well-connected person who may not make the buying decision but who may have an impact on the person who does is a: A) gatekeeper B) referral C) prospect D) target market E) center of influence
E
15) All of the following are factors that determine the stage in the life cycle a product is in EXCEPT: A) The product's perceived advantage over available substitutes B) The product's benefits and the importance of the needs it fulfills C) Competitive activity, including pricing, substitute product development and improvement, and effectiveness of competing advertising and promotion D) Changes in technology, fashion, or demographics E) The length of time a product has been around
E
15) Which of the following statements about social class is true? A) People in the lower classes purchase items less impulsively than upper class shoppers. B) Social scientists agree that there are an unlimited number of social classes. C) "New money" people possess inherited wealth, often acquired several generations before. D) It is virtually impossible to move from one social class to another. E) Social class is determined by a combination of factors such as income, education, occupation, and accumulated wealth.
E
2) The decisions and activities intended to create and maintain a certain concept of the firm's product in the customer's mind are referred to as: A) loyalty B) brand C) marketing D) concept E) positioning
E
20) Networking outside of a salesperson's industry is largely: A) meaningless B) time-consuming C) fruitless D) neutral E) beneficial
E
20) Which is NOT true regarding the differences between consumer and organizational buyers? A) Consumer buyers often purchase alone, while organizational buyers may purchase as part of a group of decision makers. B) Consumers purchase for individual or household consumption, while organizational buyers purchase for some purpose other than personal consumption. C) Consumer decisions are usually made by individuals, while organizational decisions are frequently made by several people. D) Consumer purchases are based primarily on emotional responses to products or promotions, while organizational purchases are based primarily on rational criteria. E) Consumers mostly engage in a lengthy decision process, while organizational buyers make quick decisions.
E
24) Low-involvement buyers care mostly about: A) specifications B) durability C) loyalty D) brand E) price
E
25) All of the following are factors that would motivate rational buyers EXCEPT: A) on-time delivery B) financial gain C) saving of time D) durability E) branding
E
25) The responsibility for entering customer information and contact records into the CRM database usually belongs to: A) the customer B) the office manager C) the data entry clerk D) the sales manager E) the salesperson
E
30) A "balanced funnel" involves: A) aggressively eliminating non-productive leads B) combining technical sales with product sales C) entering prospects from an even balance of industries D) entering the "Ferris wheel" simultaneously E) having prospects at many different stages of the sales cycle
E
30) When setting professional fees, all of the following are points to consider EXCEPT: A) experience B) exclusivity C) target market D) value E) product life cycle
E
30) Which of the following steps in the buying process can cement the relationship after the sale is over? A) need awareness B) evaluation of solutions C) resolution of problems D) purchase E) implementation
E
5) A major barrier to prospecting is time. Therefore, salespeople should: A) try to avoid spending time available for actual selling on prospecting B) try to spend at least 50 percent of every week on prospecting C) get involved in prospecting only after completion of all regular selling activities D) assign prospecting to lower-level employees E) integrate some prospect identification with regular selling duties
E
5) Which type of selling appeals to buyers who prefer to purchase a packaged solution to a problem from a single seller, thus avoiding all the separate decisions involved in a complex buying situation? A) Modified selling B) Bundled-option selling C) Straight selling D) Transactional selling E) Systems selling
E
9) Becoming familiar with a customer's satisfactions is necessary for a salesperson to move from: A) transactional selling to product selling B) solution selling to value-added selling C) new buy selling to constructive selling D) product selling to complimentary selling E) product selling to solution selling
E
