MKT 310 Exam 1 Study Guide

In today's online world, it seems like everyone has Amazon Prime and shops online. The fact is, e-commerce accounts for less than ______ percent of total retail sales. E-commerce is expected to account for ______

10, 13

We speak at approximately____ words per minute, but we listen at approximately ____ words per minute

125, 400-500

pinterest- linkedin- youtube- instagram- facebook- twitter-

41% highest average income most used in the U.S. one of the fastest growing 74% 46%

Strategic alliance - Modified rebuy - Straight rebuy - New-task buy -

A business partership in which all parties... A product or service that has... A routine repurchase... A purchase made by...

Which of the following are soft skills

Ability to work with people Personality traits

Indicate which of the following is appropriate or not appropriate email etiquette.

All answers are "dont"

Which of the following people are appropriate to ask for an informational interview

All answers are correct

Andrew Sykes, district sales manager, at Astra Zeneca, and featured in the professional video ride along in chapter 5 suggest that when using digital communication you_______

Always check your grammar and punctuation

When asking someone to serve as a reference, which of the following is true

Always tell them the title of the position Always asking advance Always provide each reference with a copy of your résumé

" you do what I think I might want to do. I'd like the opportunity to meet with you to talk about how you got into the business.," is a good way to request:_____

An informational interview

Jeremy is interviewing a sales rep position at google......... indicate which of the following is appropriate or not appropriate business etiquette for the situation

Appropriate business etiquette: Put the water glass on the right Not appropriate business etiquette : Order spaghetti Offered to pick up the check Offer to leave the tip Put the bread on the right

Jesse just finished her internship.... This is the ideal time for her to_________

Ask for a letter of recommendation

When you are writing an email, including someone as a_____........... including someone as a_____ means, you're sending a copy to someone other than the addressee

BCC , CC

According to Tonya Murphy sales executive at Pandora and the featured professional in the video right along in chapter 3 best advice about building relationships is which of the following

Be authentic Be transparent What people understand who you are Give without expecting things and return

Ralph can get overwhelmed during the day...... when Ralph is busy doing administrative tasks, he's not able to_________

Be in front of the customer

Which of the following is considered to be ethical behavior

Being accountable Operating with integrity Adhering to company policies Open and honest communication

Not a Social Selling Activity

Building a relationship with the brand, cold calling

Which of the following demonstrates empathy

Congratulations on being chosen to attend State University We're happy you're here please check in at the front desk We want to improve your customer experience, so please take a minute to complete the short survey

A successful brand is always unique, _________, relevant and has an emotional connection with its customers

Consistent

The Walt Disney company's VoluntEARS program encourages employees to..... this is an example of______

Corporate social responsibility

Katie really wanted the job that was posted but she was frustrated that her résumé might get lost in the shuffle with all the other submitted. She remembered that the campus career center said that a ______ what is one of the best ways to say yourself apart when applying for a job.

Cover letter

Which of the following is true about communication?

Craft your communication thinking about your receiver Communication should be brief in specific

Raul is a sales rep for acto food distributors. His plan is to call on each customer at least once a month to touch base and see how he can help each customers business. This describes the call ______

Cycle

Which of the following is a specific statement?

Delivery will arrive by 10:00 today I'll get back to you on Tuesday by noon

Sheree is going on an informational interview..... indicate which of the following Sheree should do or not do before, during, and after her informational interview

Do: Bring extra copies of her résumé Prepare questions to ask during the interview Send a thank you email after the interview Don't : Ask for the job is she likes what she hears? Dress a little bit more casual since this is not a job interview

In the social style matrix which two styles have similarities

Drivers and analytical's

Jonathan was working with a customer who is very demanding......... Today he was especially angry, but he didn't show it. He knew the situation would be better if he kept his emotions in check in this situation, Jonathan exhibited ________ _______

Emotional, intelligence

Derek is a sales rep for a furniture store......... in this example Derek demonstrated______

Empathy

Trust is a critical element to being successful in sales. How do you sales people build trust

Engage in open and honest communication Follow through on the promises they make

According to Paul, VP of sales at Beasley media group, and the teacher of the video ride along in chapter 2, when you are in sales, you are an ______ . You run your own _______.

Entrepreneur, business

According to Andrew Sykes, district sales manager at AstraZeneca.... Which of the following is true

Everyone has different methods they preferred for communication Digital communication is permanent

Networking list should always include which of the following

Family friends Friends Friends family Family Professors

Choose the type of statement that best describes each of the following

General statement: We'll have a table ready in a few minutes Insulation will not be expensive I'll call you next week with the answer Specific statement : Everything is included - solid dinner, dessert and coffee or tea You can pick it up in 10 minutes

There are many technology companies located in Silicone Valley, many entertainment companies located in Los Angeles and many fashion companies based in New York. These are all examples of ___________

Geographic concentration

Pedro is a territory manager at General Mills. Which of the following best describe his sells role?

He is responsible for sales at his stores in his geographic area He is responsible for cultivating new customer relationships He visits customers and checks displays to be sure they are fully stocked and signed

Which of the following are ways to "give" when networking

Help with social media Make an introduction Share a relevant article Send a thank you email

Analytical want to know

How

Which of the following reflects a growth mindset

I have never done this before but I'm sure I can figure it out This is a bit challenging, and I might fail along the way, but I'm going to give it a try

Personal selling mean selling yourself in which situation do you sell yourself?

In class on a job interview when you are working on a team project during an internship

Which of the following are social selling mistakes?

Include in your profile the fact that you are looking for a job, Use it as a forum to talk about the benefits of the product or service you sell, Post and ghost, Send out general announcements

You should always bring your portfolio on a job interview. You should also bring it to a(n) ________

Informational interview

Working with prospects in customers via telephone text message, email, fax, and social media is an example of _____ sales. Working with prospects in person and traveling to their office or field site is an example of _____ sale.

Inside, outside

Compared to B2C purchases, B2B purchases are usually _______

Larger

Ina sells insurance.......... This demonstrates the concept of______

Lifetime value

Lisa Remal is a new sales rep and invited prospective customer...... which of the following is appropriate business etiquette for a meal

Lisa should pick up the check and pay with her companies expense account

Sales 3.0, the third generation of selling on the Internet, uses which of the following to anticipate customer needs?

Machine learning, big data, cognitive computing, artificial intelligence

B2B

Many influencers involved in the purchase, High-risk purchase, Always includes research and cost-benefit analysis, All purchases are budgeted

Which of the following statements is true about the B2B buying and selling process?

More companies are using Buying Centers, B2B prospective customers do research online, Even though it is business-to-business, people do business with people they trust A growing number of B2B decision makers are Millennials, Fear is a strong motivator in a B2B buying decision.

What are the stages of the buying process?

Need recognition Research Purchase Delivery After the sale

A confidentiality agreement is also called a_____

Non-disclosure agreement

Lan went on a job interview and was asked to sign a_________ because he would be exposed to some of the companies _______.......... He was required to sign a._______..........

Non-disclosure agreement, trade secrets, non- compete agreement

In B2B buying, there are two types of risk— ____________ which is a potential danger or hazard to the company, and __________

Organizational risk, personal risk

_____ references can speak to your character. _____ references can speak to your skills.

Personal , professional

You can demonstrate your _________ and set yourself apart by bringing a _____________

Personal FAB, portfolio

Employee handbook includes which of the following

Policies about entertainment reimbursement Policies about sexual harassment Policies about travel reimbursement Policies about accepting gifts

Match the time management mistake with the appropriate solution

Procrastination - take on the task you like least, first Making tasks to big - set smaller, short term goals Poor planning - stay focused and avoid distractions

McDonald's buys potatoes to make French fries to sell at its restaurants. In this example, McDonald's is a ___________

Producer

Things a Subject Matter Expert Doesn't Do

Projects the future of the industry

Put the steps of the traditional buying process in the right order.

Recognizing the need Defining the need Developing specifications Searching for appropriate suppliers Requesting proposals Evaluating proposals Making the buying decision Post-purchase evaluation

B2C

Relatively simple purchase, Impulse buy

Great brands provide great value a great brand has, which of the following attributes?

Relevance, consistency, emotional connection with its customers, uniqueness

Which of the following is true about communication?

Request made face to face is 34 times more successful than one made via email Email is appropriate for sending facts, notes, and meeting BOTH ARE CORRECT BUT NEED MORE ANSWERS

You're_____ and_______ ________ should communicate your personal brand story in a concise and compelling way

Résumé, cover, letter

Drag the steps of the communication model into the correct order

Sender sends message Message is encoded Message is sent via a channel Message is decoded by receiver Receiver send feedback to sender

Social Selling Activity

Social Listening, Nurturing leads, building a one-on-one relationship

_____________ focuses on building relationships with customers online. Social selling focuses on building _____________

Social media marketing, one-to-one

Kelsey is a sales manager and has 20 sales reps reporting to her. This reflects her _____ _____ _____

Span of control

Things a Subject Matter Expert Does

Speaks at industry events, Share interesting and relevant content online, curates content, Keeps his/her expertise current

When CNN teams up with the New York Times to do political polling, it is an example of a

Strategic alliance

Gabby Lanmer is a sales rep at national bank........ gabby wasn't sure what she wanted to do. So she decided to________. This was an example of._______.

Talk to someone in human resources, whistleblowing

When Rachel Gordon, Account Manager at NBCUniversal and the featured professional.... Which of the following best describes the power level in an organization?

The level at which the buying decision is made

Advantage - Benefit - Feature -

The meat is thick and juicy Great-tasting A quarter pound

Every sales person once a seat at the table because _______

They can be part of the decision making process

In sales today. Successful selling is not something you do ____ a customer. It's something you do _____ a customer.

To , with

Which of the following is true about sales?

True: Identifies which customers to engage Interacts one on one with customers to identify their needs and presents opportunities and Represents the brand in the eyes of the customer False Uses the promotional mix to communicate the brand a message to customers Uses the four peas to determine the brand message

What celebrity chef Mario Batali was fired for sexual misconduct from the restaurant company he founded, his behavior was considered to be______

Unethical

When Nike was accused of exploding workers in third world countries...... it was an example of _____

Unethical behavior

The Japanese custom of Kosai hi relates to which of the following

Using large expense accounts to entertain clients and nurturing relationships

Creativity, social responsibility, integrity, and teamwork are all examples of______

Values

______ define what is important to you. They provide your personal compass in your direction in life.

Values

Which of the following best defines values in a mission statement for an organization

Values are proven, enduring guidelines for human contact; a mission statement is a broad statement of direction, and what the organization stand for

Which of the following is true about company mission statements

Values inform a company's mission statement A mission statement is a roadmap for a company or a person

For each entry, indicate the correct type of communication

Verbal - a sales presentation Nonverbal - sales reps facial expression & a sales rep, wearing a business suit Written - sales brochure & a sales proposal

______ communication includes_______, which can have a significant impact on the meaning of what you say

Verbal, inflection

Successful sales people always remember that everyone listens to the same radio: WII:FM, which stands for _____ _____ ______ ______ ______

What's in it for me

Which of the following best describes how social selling might help the customer?

When Dean needs a real estate lawyer, he looks at recommendations from the Bar Association, When Leslie is considering a new computer, she goes to online forums, When Paul wants to buy a new car, he starts at the dealership to get information from a salesperson, when Jamal is thinking about taking his girlfriend to the movies and he looks at online reviews

Amiables want to know _____

Why

Which of the following demonstrates thought leadership?

Writing a blog post about what customers can expect in the next five years in your industry, Presenting at an industry conference

The best way to determine which social media networks to use for your social selling efforts is to use the platforms ___________

Your prospective customers

According to Paul Blake, VP of sales at Beasley media group and professional featured in the video ride along in chapter 4 what is the impact of doing the right thing?

Yourselves will increase in the long term He will build trust with your customers

In the FAB the __________ is what the __________ means to the customer.

benefit, feature

Jake is hungry. He's considering going to Chipotle, Five Guys, Taco Bell, or Panera. These brands are in his __________. He doesn't even consider Subway or McDonald's. These brands are in his __________

evoked set, inert set

The Girl Scouts, a non-profit organization, is considered a ____________

reseller

Match each description with the appropriate element of the promotional mix

• Coupon for buy one get one free at Burger King - SALES PROMOTION • real estate agent showing homes to a newly married couple - PERSONAL SELLING • Story on ESPN about the World Series championship team - PUBLIC RELATIONS • email from macys.com - DIRECT MARKETING • Google search results for cell phone repair - ADVERTISING

Match the sales position with the correct description

• Product specialist - a subject matter expert • Territory manager - responsible for a group of customers • Business development manager - identifies prospects and develops prospective customers • Account manager - manages day-to-day relationships

Which of the following is a good personal mission statement?

• To give back to those less fortunate in my community • to motivate and inspire through teaching, and coaching • to create opportunities for teens and preteens

Match the definitions to the correct terms

• canned presentation - hey sales presentation that is exactly the same for every customer • adaptive selling - occurs when a sales person adapts changes and customizes • social style - a specific pattern of communication behavior

Match the correct description of how to adapt your sales presentation to the correct social style

• drivers - get to the point quickly • amiable's - establish personal relationship • analytical's - include facts, demonstrate results • expressives - take extra time to discuss everything

Match the definition to the correct term

• drivers - people who like to have all the facts and make decisions quickly • expresses - people who rely on their feelings to make decisions • analytical's - people who focus on facts, details, and analysis to make decisions • Amiables - people who focus on personal relationships in their decision making

Match the correct description with each term

• networking - the art of building alliances • Triple win - the ultimate relationship • CRM - technology solutions • lifetime value - you consider not just one transaction