Marketing 3050 Exam 1

which of the following are considered when developing a positioning strategy

customer perceptions of our products customer perceptions of competitors' products

personal selling has many advantages over the other promotional tools. for instance, personal selling

can adapt the communications message to the needs of the individual customer

"you can rant and rave and threaten, but the most effective way to get results is to show someone what you want done" this statement is most closely associated with which competency

coaching

the most powerful motivator for salespeople is usually

compensation

methods of locating prospects include all of the following EXCEPT

conducting logistic analysis

which of the following is the LEAST important factor in strategic planning?

corporate public relations

the first step in deterring the minimum customer size on which the sales force should call is to calculate the

cost per sales call

examples of demographics that might be used in building prospect profiles include of the following except

customer buying preferences

after reaching the optimal number of sales calls, the sales response function tends to illustrate which of the following sales response dynamics?

decreasing marginal returns

the three C's of an organization's business, often used to describe the basic character of an organization are

Customers Competitors Company

selective use of sales agents, intense supervision of a limited number of salespeople, and a largely salary based compensation plan are most likely to be associated with which of the following business strategies

differentiated

________ is typically designed to "Pull" merchandise through the channel whereas __________ is designed to answer customer questions and to persuade buyers to sign purchase orders

advertising, personal selling

the Sales Funnel model identifies the best few opportunities as those in which

all the buying influences have been contacted and their needs identified

theABC account classification system is

an example of a single factor model

Encyclopedia Britannica Corp's recent decline in sales due to CD-ROM technology is an example of problems in which of the following competencies

strategic action

having a good understanding of the industry is a key aspect of which of the following competencies

strategic action

_____________ is the way an organization attempts to achieve its overall performance objectives

strategy

a _______________ should include a statement about (1) the type of customers served, (2) the needs to be fulfilled, and (3) the technology used to fulfill the needs

target marketing

focusing your product on a special part of the market is an example of

target marketing

a good example of a directory for business to business selling would be

the Thomas Register of American Manufacturers

if you are new to the territory and want to find out who are possible prospects for your line of latte machines, the best source with the most leads would be

the Thomas Register of American Manufacturers

which of the following is NOT considered when calculating the minimum sized customer on which to call

the growth rate of the customer

although portfolio models offer several benefits over single factor models, a problem that still remains is

the lack of an optimal solution to the allocation of sales calls

calculating cost per call is an important step in addressing the minimum customer size issue. cost per call is a function of

the number of calls made per day a salesperson's direct selling expenses

a viable approach to addressing the problem of customers who are too small to order generate enough sales volume to exceed the break even sales volume

to increase prices to these customers to decrease the number of calls made on these customers to have brokers call on these customers

47. The average cost per call is

$118.00

49. the average cost per call is

$127.50

According to surveys the median age of newly appointed field sales managers is

30

it is not at all unusual for a company to find there is between a ________________ difference in the profitability of customers who purchased a similar quantity of product

50-75%

which of the following are methods for determining time allocation

ALL ARE ALLOCATION METHODS single factor ABS approach portfolio sales funnel

which of the following are considered to represent some key customer changes occurring today?

ALL OF THE ABOVE a desire to purchase from fewer suppliers rising service expectations increasing negotiating power

paths for increasing the value of a firm's customer base include which of the following?

ALL OF THE ABOVE acquiring new customers reducing the turnover of existing customers charging higher prices

which of the following are examples of commonly used organizational goals

ALL OF THE ABOVE dollar revenue social responsibility dollar profits

strategies are employed to

ALL OF THE ABOVE make better use of company resources set specific and achievable objectives sultan an advantage over the competition

which of the following statements are true regarding sales networks?

ALL OF THE ABOVE sales networks are needed for successful prospecting sales networks needed for prospecting are different from those needed for solutions selling in some cases sales networks are needed both inside and outside of the salesperson's company

when the Scott Paper Company switched its focus to improving its profitability, which of the following are logical sales force consequences

ALL OF THE ABOVE sales training has to be altered sales compensation should be changed sales territories need to be redesigned

dramatic differences in the profitable of customers purchasing a similar dollar volume may be caused by

ALL OF THE ABOVE the mix of products they purchase the price discounts taken forward buying by the customer

Question 37

E. segmentation strategy

in the computer industry IBM is trying to de-emphasize price by promoting exceptional levels of service and support. this is an example of which generic business strategy?

a differentiation strategy

people in the sales department will generally start in the following position

a field sales representative

in order for a prospect to be a qualified lead a salesperson must gather information about whether the prospect has

a genuine need for the product or service the buying authority to purchase the product or service the financial resources to purchase the product or service

portfolio models offer several benefits that single factor models do not. which of the following is NOT one of those benefits?

a lower cost method of analysis

the high profit sales force programs in a low cost business strategy are likely to include

extensive use of independent sales agents

compared to other promotional tools, the most important advantages of personal selling is in

gaining customer commitment creating customer service

a customer demographic that might be used building a prospect profile might include

geographic location size of business

market segmentation involves aggregating customers into groups that

have similar needs

aggregating customers into groups based on common needs is referred to as

market segmentation

which is not an important aspect of the sales manager's job?

mass advertising

50. the average cost per call is

none of the above

which of the following are likely to be good reasons for wanting to be promoted to sales management?

none of the above

in general, which is more effective in closing the sale?

personal selling

the most effective way to close a sale and to get the customer's signature on the order form is generally through

personal selling

developing a plan for how you want your customers to perceive your product is referred to as

positioning

an advantage of personal selling is NOT

reaching a massive number of people quickly

the planning, organizing, leading, and control of a personal contact programs designed to achieve the sales and profit objectives of the firm is a definition of

sales management

a sales response function depicts the relationship between the number of sales calls and which of the following

sales volume

identifying customers with common needs is always a part of

segmentation

identifying customers with common needs is called

segmentation

the sales force's role when executing a Differentiated Strategy usually includes

selling high margin products focusing on non-price benefits establish long-term customer relationships

which of the following is usually NOT an important aspect of the first-line sales manager's job?

setting the corporate growth orientation