450 quizzes exam1

What best describes a "Defined" Sales and Marketing relationship?

Know what the other is focused on, but not working together

Karr talks about positioning yourself in the buying process as early as possible. Which phase would be the best time to enter into the buying process?

No Need

How much time did Karr recommend on 1st impression and qualifying?

60%

I introduced a concept of emotional quotient. What percentage of someone's success has research show to be attributed to emotional quotient vs. one's intelligence quotient?

80%

Sales success depends on having a good emotional barometer! According to research how much of our success is dependent on EQ/EI?

80%

We discussed the Industrial Economy vs. the Information Economy. In the new Information Economy how is sales success defined?

Adding value

What best describes the Emotional Bank Account?

Balance of deposits (build trust) and withdrawals (decay trust)

What best describes becoming a "company" expert?

Belief & confidence in company's value prop

When Alliances or 3rd parties get engaged in a company's buying process, what is normally true below?

Brought in to remove personal relationships & emotions

What is a possibility if you serve a customer's need that is already recognized when you enter the sales process?

Can lead to price wars

What best describes an "Aligned" Sales and Marketing relationship?

Clear roles and responsibilities and boundaries - yet flexible

The highest level relationship goal is to establish a partnership with your customer. There are 3 keys to get to a partnership level. Which one of the three is listed below?

Clear understanding of the purpose of the relationship and committed to it

Karr said having a strong resource proclamation is important. What 2 answers did Karr encourage when building your resource proclamation?

Communicate the "what" without generating a "so what", Keep is simple and memorable

Companies tend to start employees in a sales type position and they tend to promote people with sales experience. Why is that?

Customer experience is valuable

We discussed the Industrial Economy vs. the Information Economy. In each, we discussed what business was defined by in both economies. What was business defined by in the Information Economy?

Customers

What would be a characteristic of a someone that has a directive communication style?

Determined

Self-image is your mental belief in yourself and is shaped by the ideas and attitudes one has about themselves. We talked about three keys in developing a more positive self-image. What is one listed below? Success is what matters - no matter the cost Failure happens - keep it with you, so you don't forget about it Develop expertise in an area Hang around those with negative thoughts - it will make your problems seem less

Develop expertise in an area

What communication style is high in dominance and low is sociability (High D, Low S)?

Directive

Understanding communication styles of yourself and your customers can improve your relationship building skills. We studied the 4 different styles of communication (Emotive, Directive, Reflective and Supportive). They are all defined on two different continuums. What are the continuums?

Dominance & Sociability

We discussed that sales and marketing don't always get along in organizations. We also discussed there are steps to improve collaboration. What is one of the reasons we discussed?

Encourage disciplined communication

We discussed several steps to improve collaboration between sales and marketing. What are two of them listed below?

Encourage disciplined communication, Define steps in the buying funnel

What alliance is described by establishing relationships with other business partners that help you develop a complete and total solution?

End-to-End Alliances

Part of customizing a solution for your customer and positioning yourself as an expert and consultant, you need to focus on the customer's outcomes. One thing that you may need to consider to differentiate yourself would be:

Engage other alliances to build complete solution

Resolving conflict is critical in building alliances. Karr discussed 7 steps to effectively resolve conflict and build alliances. What was his main point about identifying a solution?

Engage other person in identifying a solution

The following value-add by a salesperson is in which of the 5 step buying process: Justification (efficiency, cost reduction, safety), Product/solution demonstrations

Evaluation of solutions

Karr said you should start with the HOW (products, solutions) before the WHAT (goals, objectives). T or F

False

Marketing should work on producing the best programs and developing the best strategy without a lot of input from sales. T or F

False

Sales teams are naturally feel ok with marketing calling on their customers. T or F

False

Self-image (mental belief about self) has not been proven to be linked to one's success. T or F

False

Serving unrecognized needs leads to price wars because your competitors do the same. T or F

False

Study by Sales & Marketing Management ranked building relationships as the #1 characteristic of salespeople to build trust. T or F

False

There are a lot of people working in a sales position. Actually, sales is the 3rd largest field behind office/admin workers and engineers. T or F

False

One of Karr's 7 traits of the best sales people was positioning. He said you must be strategic about your positioning statement, and you must be able to address 1 of 4 areas for it to be relevant and value-added for your customer. What is 1 of the 4 below? Improved terms Better pricing Reduced efficiency Improved productivity

Improved productivity

There are very many different sales positions available and many different career paths. What position has become more and more important over the last several years due to the changing economy and COVID.

Inside Sales

Why is the customer more in control than ever in the buying process (2 of 3 items listed below)?

Instant information on-line, More choices from all over the world

As we learned trust starts with you. Personal trustworthiness is your own and other's confidence in your character and competence. What three words below best describes character? Personal, Relationship, Maturity Conceptual, Technical, Integrity Integrity, Maturity, Abundance mentality Technical, Maturity, Commercial

Integrity, Maturity, Abundance mentality

Why is selling a noble profession? We discussed several ideas. What is one point below?

It's providing value to someone else

There are many benefits and rewards of being in the sales field. Sales people that require travel and entertainment can find great satisfaction and potential frustration as well. What is important for this type of sales professionals?

Know priorities & be disciplined around work

Karr stated that you must balance your listening and talking. He said it's important not to "sell". What did he mean by that?

Lead the conversation about the outcomes they need/want

What best describes an "Integrated" Sales and Marketing relationship?

Marketing is engaged with accounts and partner with sales

We discussed the Industrial Economy vs. the Information Economy. How was sales success defined by in the Industrial Economy?

Meeting sales quota

What is one some characteristic about people that are low in the Sociability Continuum?

More reserved

What are the first 3 steps in the 5 step buying process?

Needs Awareness, Evaluation of Solutions, Resolution of Problems

Understanding the type of purchase you are encountering is important. If the purchase if more of a project purchase, which of the 5 steps of the buying process should you focus on?

Needs awareness

What type of purchase is usually the most complex with the longest sales cycle? It also will probably use all steps in buying process?

New Buy

Which of the buying situations relies heavily on your consultative selling skills?

New-Task Buy

What best describes an "Undefined" Sales and Marketing relationship?

One doesn't know what the other is focused on

We discussed the fact that the conversation is the relationship. Each conversation builds or takes away from your relationships. We discussed verbal strategies to help build a relationship. What were two of these? Don't express emotion, Speech Pattern Volume, Be defensive about your points Pace yourself, Speech Pattern Pace yourself, Push for the sale

Pace yourself, Speech Pattern

What is a strategy to build a relationship with an Emotive communication style?

Plan actions that support their opinions/dreams/ideas

What are the three experts that we discussed in class?

Product, company, industry

During the implementation buying step, the sales person can provide value by:

Providing post-sales support

The following value-add by a salesperson is in which of the 5 step buying process: Salesperson: Easy to do business with, financing, delivery details, installation strategy, customer advocate internally & with supplier

Purchase

Karr wrote about the leadership mix - features, services, quality, delivery and leadership. He said focus on outcomes using a unique combo of the leaderships mix. As he described outcomes, he said you should strive to align your (answer below) with the customer's (answer below).

Purpose, vision

What does it mean when Marketing and Sales don't get along and there is a strain from a cultural perspective?

Sales is focused on customers & marketing can and should help

What is a beachball conversation?

See the issue from everyone's point of view

What is considered the fastest growing sector of the three we discussed?

Services

What is the most recognized facial expression in the world?

Smile

What is true about Communication Styles? There is an infinite number of styles Adapting to styles is not important Style tends to be stable over time Styles are measured by expression and sociability

Style tends to be stable over time

What communication style is low in dominance and high is sociability (Low D, High S)?

Supportive

Personal trustworthiness is based on confidence in character and competence. What three traits describe competence?

Technical, conceptual, interdependence

The dominance continuum is characterized by:

The tendency to display a "take-charge" attitude or level of control

We learned about communication styles and how we should interact with different styles. What best describes the relationship strategy when dealing with a reflective style?

Thoughtful, well-organized approach-No nonsense, business-like approach

Building alliances is an important skill for people in sales. Competitors can be an example of an industry alliance. T or F

True

Not everyone can say yes--but about everyone can say no (T or F)

True

One of the ways that a sales person can show value and expertise is filter the information and all of the options that are possible and present to the customer. T or F

True

Tactical positioning is what do you say and do in support of your strategy and you can differentiate yourself if you become great at it (i.e. great follow-up). T or F

True

When 3rd parties or alliances get involved in the buying process for a customer, they are trying to remove the personal relationships side of sales and primarily will focus on price. T or F

True

We discussed the topic of becoming an expert. We talked that one can become a product, company or industry expert. An expert must be able to pass three tests. Two of the three are the performance is consistently superior to your peers and real expertise produces concrete results. What is the 3rd?

True expertise can be replicated and measured

What is one of the criteria to be considered an expert? True expertise can be replicated and measured Understanding your weaknesses well Expertise is in the eye of the beholder Solving one challenging problem

True expertise can be replicated and measured

What is a reason why you want to spend 60% of your time up front on the visualization step (1st impression, qualifying)?

Uncover hidden traps early

Studying and understanding communication styles have been proven to improve your ability to build stronger relationships. What were the 2 of the 3 goals of studying communication styles?

Understand your own, greater understanding & appreciation of others

EQ has been broken down into four different dimensions. Two of them focus on the other person and two focus on yourself. What are the two that focus on yourself?

Using emotions to facilitate thought & managing emotions

One of the areas that the resource proclamation must address is:

improved productivity

What describes an "industry" expert?

knowing your competition, suppliers, and trends