MK 330

A key benefit of email negotiation is that it ______. A) allows parties to negotiate over long distances quickly, efficiently, and inexpensively B) allows all parties to view the other parties' body language C) has been perfected in terms of connections and communication D) emphasizes facial expressions and nonverbal communication

A

Joshua shows up at the office in a foul mood because he was stuck in traffic for two hours, had an argument with his wife before he left for work, and is dreading a meeting with his manager today. Pretty soon, Joshua's co-workers take on his emotions, becoming frustrated, angry, or upset for various reasons. This situation is an example of ______. A) emotional contagion B) negative psychology C) self-awareness D) self-management

A

Which component of sales EQ refers to your ability to perceive what other people are thinking and feeling, even if you do not feel the same way? A) social awareness B) self-awareness C) relationship management D) self-management

A

The most effective salespeople today are ______ oriented rather than ______ oriented. A) customer, product B) product, customer C) satisfaction, sales D) operations, marketing

A

______ needs require immediate customer attention. A) Explicit B) Implicit C) Implied D) Long-term

A

_______ pricing involves proactively creating the conditions under which better and more-profitable pricing outcomes are the result. A) Mandatory B) Markup C) Discounted D) Strategic

D

________ is the ability to understand and identify with others' feelings and motivation. A) Social awareness B) Emotional contagion C) Growth mindset D) Empathy E) Grit

D

T/F: Fixed costs vary with the number of units produced or sold.

False

T/F: Organizations that cap sales compensation typically see an increase in the number of high-performing salespeople they have.

False

T/F: Passive listening occurs when the salesperson is fully engaged with the customer, paying careful attention to all verbal and nonverbal cues and providing appropriate responses.

False

T/F: Profitology assesses the extent to which the firm is able to use resources to generate revenue in excess of expense.

False

T/F: Rejection in a sales situation is usually a personal rejection of the salesperson.

False

T/F: Research has shown that you can accurately predict a person's EQ—that is, how socially adept someone is—based on their cognitive intelligence (IQ).

False

T/F: The "dilemma of trust" refers to the idea that negotiators who shares all of their exact requirements and limits will never achieve an outcome better than their walk-away point.

False

T/F: The fixed amount of salary a salesperson earns is referred to as his or her incentive salary.

False

T/F: The most frequent ethical issue in pricing involves predatory pricing.

False

T/F: Understanding negotiation processes is a secondary consideration for professional sellers.

False

According to Neil Rackham's research, the most successful salespeople are those who ______. A) focus on delivering technical information about the products or services they are selling B) ask their customers questions to better understand their problems C) create a single solution to a variety of different customer problems D) participate in the delivery and set-up of the goods they have sold to their customers

B

Concerns about installation and warranties are often part of _____ objections. A) technical B) product C) price D) source

B

In terms of the SPIN acronym, ____________ questions are designed to help the customer and salesperson identify issues that need to be addressed. A) Situational B) Problem C) Implication D) Needs-Payoff

B

In the alternative-choice technique, the salesperson: A) suggests that the customer should make a purchase decision immediately. B) provides two legitimate options for the customer to choose between. C) requests that the buyer consult with other members of the buying team before making a decision. D) asks the customer to choose between its products and another company's products.

B

Suppose you plan to buy a central air conditioning unit for your home. Company A quotes you a price of $10,000. You then visit Company B, and its salesperson quotes you a price of $9,000 for the same A/C unit, putting that price in writing. You go back to Company A, show the salesperson Company B's written price offer, and ask Company A for a better price. Company A then quotes you a price of $8,500. Is Company A's price-cutting behavior legal? A) No B) Yes

B

Which objection does a salesperson face when a customer does not perceive a need for a product and is therefore not motivated to engage in the sales process? A) time objection B) no-need objection C) source objection D) personnel objection

B

Which of the following is not a benefit of a commission-only compensation structure? A) A commission-only compensation structure only rewards those salespeople who perform well. B) A commission-only compensation structure can create aggression and high competition within the sales team. C) A commission-only compensation structure attracts eager, top-performing salespeople. D) A commission-only compensation structure allows for scheduling flexibility. E) A commission-only compensation structure is simple and easy to understand.

B

Which of the following is the lowest-cost qualitative research project that an organization can undertake? A) conducting surveys with SurveyMonkey B) talking to salespeople C) sponsoring questionnaires on social media D) conducting focus groups

B

Which of the following is the most common commitment-gaining technique? This technique involves the salesperson simply asking for the commitment. A) alternative choice B) direct request C) success story D) balance sheet

B

When you encounter a time objection, which of the following scenarios are likely? (Check all that apply.) A) The customer is concerned about various elements of the product offering. B) The customer is considering the offer but needs more time to consider the information and offer. C) The customer wants to get rid of the salesperson. D) The customer is playing "hard to get" in an effort to bid down the price.

B, C

Select all that apply From the following list, select all the choices that accurately complete the following sentence: Salespeople who embrace customers as solution co-creators recognize that _______. A) salespeople play an active role in the selling process while customers are more passive B) customers can provide returns that go well beyond financial returns C) it is very difficult to deliver customer value without customer involvement D) most solutions are of little value without customer input and involvement E) salespeople must simply sell to customers as opposed to working hand in hand with them

B, C, D

Select all that apply From the following list, select all the disruptive emotions that salespeople must overcome. A) tranquility B) delusion C) anger D) fear E) impatience F) confidence G) pride H) disappointment

B, C, D, E, H

From the following list, select three limitations of video conferencing. A) inability to conduct negotiations in real time B) technical difficulties C) privacy and security challenges D) inability to view body language E) limited visibility

B, C, E

Select all that apply From the following list, select three good techniques for managing your emotions in potentially stressful or upsetting situations. A) Knock back a shot of whiskey prior to the meeting, to calm your nerves. B) Prepare in advance to deal with situations that you will find emotionally taxing. C) Conduct meetings in peaceful natural surroundings, such as a park or a hiking trail. D) Use positive visualization to imagine a successful outcome to a stressful situation. E) Know your emotional triggers.

B, D, E

In the dual-concern model of conflict resolution, _______ strategies include information exchange, "expanding the pie," package offers, and a focus on interests instead of positions. A) inaction B) yielding C) integrative D) forcing

C

In the dual-concern model of conflict resolution, ______________ includes no demands or concessions, downplaying issue importance, and ignoring requests and deadlines. A) negotiation B) action C) inaction D) ignoring

C

Negotiation ________ are the range of available choices that parties might consider to satisfy their respective interests. A) alternatives B) positions C) options D) opportunities E) agendas

C

The key to understanding ________ effects is to closely watch the immediate effects of your emotions on other people. A) growth mindset B) power movements C) emotional contagion D) self-affirmations E) emotional intelligence

C

AI-enabled sales assistants are most similar to ______. A) Oracle SAP B) Fieldglass C) Salesforce.com D) Amazon's Alexa

D

In which commitment-gaining technique does the salesperson list the positives and the negatives associated with commitment? A) direct request B) success story C) alternative-choice technique D) balance-sheet technique

D

Often, the __________ objection results when too many things are competing for a buyer's attention. A) price B) source C) no-need D) time

D

On Wednesdays, many Broadway theaters offer discounted matinee seats for senior citizens and students. All other people pay full price for their seats. This is an example of ______. A) predatory pricing B) deceptive pricing C) nonprofit fundraising D) price discrimination

D

People tend to view other people's unethical behavior as caused by _______, while attributing the causes of their own behavior to _______. A) external factors, internal factors B) their upbringing, their corporate culture C) context, disposition D) personality traits, outside factors

D

Problem questions are typically ______ at the beginning of the questioning sequence and become ______ based on the information that the customer provides. A) narrower, broader B) marketing focused, sales focused C) salesperson focused, customer focused D) broader, narrower

D

The term "customer ______" refers to customer input that results from the customer playing an active role in the problem-solving process. A) sovereignty B) analysis C) service D) co-creation

D

Which conflict style minimizes empathy and maximizes assertiveness, forcing others to accept one's point of view? A) compromising B) accommodating C) avoiding D) competitive

D

Which of the following systems is most beneficial in helping salespeople measure individual customer profitability? A) equipment management (EMS) system B) financial management (FMS) system C) order management (OMS) system D) customer relationship management (CRM) system E) enterprise resource planning (ERP) system

D

Which tactic involves telling someone directly that you know that they are bluffing or misrepresenting information? A) forcing the other party to lie or back off B) walking out of the negotiations room C) maintaining silence D) "calling" the tactic

D

If it cost a company $10 to produce a product, and the desired % return on the item is 33%, what is the markup price? A) $3.33 B) $33 C) $15 D) $10.33 E) $13.33

E

In terms of sales compensation, a ________ is a per-unit payout on sales beyond quota. A) None of these answers are correct. B) base salary C) recoverable draw D) bonus E) commission

E

Sales expert Mark Hunter says that ________ is the one thing that sets great salespeople apart from the average. A) self-management B) self-affirmation C) cognitive intelligence (IQ) D) emotional intelligence (EQ) E) time management

E

When using ________, a company numerically ranks its best prospects. A) artificial intelligence B) predictive analytics C) performance management D) price optimization E) lead scoring

E

Which of the following factors should you focus upon when selecting a career path in sales and sales management? A) personality fit B) industry and career path C) type of compensation D) long-term job outlook E) You should focus on all of these things when selecting a career path in sales and sales management.

E

T/F: According to the dual-concern model of conflict resolution, an individual's preferred method of dealing with conflict is based on two dimensions: assertiveness and humility.

False

T/F: An objection based on a product's value or the customer's budget is the same as a price objection.

False

T/F: As a salesperson gains more incentive pay, the ratio of salary to total compensation will rise.

False

T/F: As it relates to emotional intelligence (EQ), the term self-awareness references a salesperson's ability to pick up on and understand emotions in others. Group starts

False

T/F: As it relates to sales emotional intelligence (EQ), the concept of self-awareness refers to discovering deep, dark secrets or hidden desires

False

T/F: Compromiser-style negotiators tend to use power-based tactics to intimidate others and control the process.

False

T/F: Examples of variable costs include salaries, rent, insurance, and advertising costs.

False

T/F: For most salespeople, 60 percent of their sales revenue comes from 20 percent of the leads they're working on.

False

T/F: Grit is a synonym for "self-control."

False

T/F: Gross margin is calculated as net sales revenue minus total costs.

False

T/F: IQ represents a person's ability to recognize and understand emotions in themselves and in others and to use this awareness to manage their own behavior and relationships. Group starts

False

T/F: If a sales manager wants to provide financial security for his or her salespeople, while still motivating the overall sales team to attain team-based goals, he should implement a base salary plus commission compensation plan.

False

T/F: If the firm is implementing a markup pricing strategy, and the cost of the item is $15 and the desired margin is 20%, the salesperson must sell the item at $21 in order to generate the desired markup.

False

T/F: Improving salesperson knowledge and business acumen is the quickest way to increasing sales productivity.

False

T/F: In SPIN selling, problem questions are designed to help the salesperson better understand the situation the customer is facing.

False

T/F: In SPIN selling, situational questions are designed to help the customer and salesperson better understand the consequences arising from the uncovered problems.

False

T/F: In general, an organization does not benefit from getting its salespeople involved in pricing decisions.

False

T/F: Individuals with a fixed mindset believe that failure actually helps you to learn and improve your abilities.

False

T/F: It is highly likely that artificial intelligence, or AI, will one day eliminate the need for human salespeople.

False

T/F: It is likely that, sometime in the next two decades, technology will completely replace salespeople.

False

T/F: Low EQ sellers tend to be more positive even in face of repeated rejection compared to high EQ sellers. Group starts

False

T/F: Markup pricing is an effective method for maximizing profits.

False

T/F: Negotiation expert Chris Voss suggests that good initial preparation for each negotiation yields a 3:1 rate of return with respect to time and money saved renegotiating deals or clarifying implementation.

False

T/F: Negotiations at early stages of the sales process tend to deal with more complex issues.

False

T/F: One of the biggest issues we see today is that most sales compensation plans are far too simplistic to meet the demands of modern business. Group starts

False

T/F: Organizations must structure their commissions based on sales only.

False

T/F: When utilizing the balance-sheet technique to gain commitment, the salesperson provides two legitimate options for the customer to choose between, along with guidance about which is more appropriate.

False

T/F: A compromising negotiation style is most useful in situations in which the opposite party is trustworthy and the agreement is under a tight deadline.

True

T/F: A salary-only compensation plan is ideal for industries whose regulatory structure prohibits direct sales.

True

T/F: A salesperson's incentive salary typically includes benefits, bonuses, or any other potential compensation.

True

T/F: Adaption-innovation theory identifies two primary types of problem solvers: adaptors and innovators.

True

T/F: An objection is an explicit expression by a buyer that a barrier exists between the current situation and what needs to be satisfied before buying.

True

T/F: Customers routinely make seemingly illogical choices that do not appear to be in their own or their company's best interests.

True

T/F: From the salesperson's perspective, a recoverable draw is helpful because it allows that person to receive a substantial amount of money before he or she earns commissions.

True

T/F: If a salesperson receives commission payouts on sales not yet attained, he or she is receiving a recoverable draw.

True

T/F: In sales, the compensation mix captures how much of overall compensation is fixed versus how much is incentive-based.

True

T/F: Listening and observing others is critical to building greater social awareness.

True

T/F: Our upbringing, education, personality, culture, relationships, and many other factors contribute to the manner in which we communicate with others, which translates into how we negotiate.

True

T/F: People with strong relationship-management skills may not see eye to eye with everybody they meet, but they recognize the benefits of connecting with many different people and building stronger bonds with them over time.

True

T/F: Positive outcomes for integrative negotiations often depend on the development of rapport and trust among the parties.

True

T/F: Predictive analytics is the use of data, statistical algorithms, and machine-learning techniques to identify the likelihood of future outcomes based on historical data.

True

T/F: Prior to the outset of any negotiation, it is sensible for each party to agree to some broad, basic principles to govern the negotiation.

True

T/F: Product concerns are often voiced in relation to competitive offerings, such as "Your competitor's products offer this feature, but yours does not."

True

T/F: Profit is calculated as revenue minus total cost.

True

T/F: Research has estimated the economic losses associated with workplace depression in the United States to be around $210 billion.

True

T/F: Revenue is calculated as the number of units sold multiplied by the price charged to customers.

True

T/F: Salary-only compensation plans are uncommon in sales.

True

T/F: The easiest commission plans for salespeople to understand are absolute commission plans.

True

T/F: When utilizing the success story technique to gain commitment, the salesperson tells the story of another customer who agreed to something similar and has benefited from the decision.

True

Information _____________ is the exchange of information about the true preferences and priorities of the other party in a negotiation.

dependence

The ______________-concern model assumes that people's preferred method of dealing with conflict is based on two dimensions: assertiveness and empathy.

dual

Which tactic works well if the other party is under time pressure, which may lead that party to voluntarily offer concessions at the start of the negotiation? A) stalling B) compromising C) yielding D) collaborating

A

Select all that apply From the following list, select all the statements that describe collaborators. A) They are good at identifying the issues underlying the dispute and working together to find a solution satisfying to both sides. B) They do not mind investing the time and effort to understand the concerns and interests of the other party in order to find a win-win solution. C) They use power-based tactics to intimidate others and control the negotiation process. D) They are eager to close the deal by doing what is fair and equal for all parties involved in the negotiation. E) They see conflict as a creative opportunity to satisfy both parties' goals. F) They focus on winning the most for their company.

A, B, E

From the following list, select two non-core elements of sales compensation plans. A) incentive pay horizon B) commissions C) salesperson compensation choice D) base salary

A, C

Compensating sales people on gross margin ______ discounting. A) requires B) encourages C) discourages D) prevents

C

The ability to pick up on and understand emotions in other people is called ______. A) relationship management B) self-awareness C) self-control D) social awareness

D

________ is a personal trait that relates to an individual's commitment and passion for pursuing long-term, not short-term, goals. A) Self-affirmation B) Fixed mindset C) Self-control D) Grit E) Growth mindset

D

_________ is relatively fixed from adolescence onwards, whereas _______ is a skill that can be learned and improved. A) EQ, IQ B) Self-awareness, social awareness C) Academic performance, sales EQ D) Cognitive intelligence, emotional intelligence

D

T/F: Commission-only compensation plans help companies reduce their risk, because compensation under these plans is based purely on salespeople's performance.

True

T/F: Customers may resist acknowledging a business need if doing so requires them to admit that they made mistakes in the past.

True

A customer says to a salesperson, "Our current software is ten years old, but it works just fine most of the time." Here, the salesperson is facing a ______. A) no-need objection B) product objection C) source objection D) price objection

A

According to the dilemma of ______, a negotiator who believes everything the other party says can be manipulated by dishonesty. A) trust B) dishonesty C) manipulation D) honesty

A

Gaining emotional self-control begins with emotional self-_____________. A) governance B) awareness C) guidance D) control

A

In sales compensation plans, _______ is the source of most of the risk. A) variable pay B) base pay C) the retirement benefit plan D) salary

A

Most ethics issues in negotiations center on ______. A) standards of truth telling B) codified legal codes C) fair trade concerns D) labor issues

A

Pricing directly reflects the ________ that the product delivers to consumers and captures for the firm. A) value B) branding C) satisfaction D) marketing

A

Reading literary fiction helps people build their empathy because ______. A) literary fiction tends to look into the psychological complexities of characters B) reading literary fiction tends to signal a higher social status C) literary fiction helps readers improve their vocabularies D) literary fiction focuses on fast-moving plots and stories that engage readers' interest

A

Suppose that it costs Ford $20,000 to produce a Ford Focus. Sales managers have decided that they want to earn a 20% profit on every car that the company sells. The price of a Ford Focus will therefore be ______. A) $24,000 B) $20,000 C) $28,000 D) $30,000

A

Suppose you sell document-management solutions for Xerox. You work on commission only, and your commission is 10 percent of your monthly sales. In January, you sell $350,000 worth of equipment. Your commission for January will be _______, and your salary will be _______. A) $35,000, $0 B) $3,500, $0 C) $17,500, $17,500 D) $30,000, $5,000

A

The _______ technique for gaining commitment often works well with expressive (emotional) customers. A) success-story B) balance-sheet C) direct-request D) alternative-choice

A

The goal of negotiation is to _______. A) reach an agreement B) achieve victory for one's own interests C) finalize a price D) manage expectations

A

Usually, a bonus is paid ______ a salesperson meets or exceeds an annual sales goal. A) after B) before

A

When conducting a negotiation, Kira believes her goal is to find a solution that satisfies both sides. She spends a good deal of time researching the issues and identifying possible win-win solutions. Kira is best described as a(n) ______. A) collaborator B) avoider C) accommodator D) competitor

A

Which of the following is an example of grit? A) Matthew wants to have his science-fiction novel published. After hundreds of rejections over ten years, he finally finds a publisher. B) Eleanor has a sore throat, but she goes to play practice anyway because the show premieres next week. C) David has a ten-page paper due next week, so he forces himself to go to the library three nights this week. D) Kellyce gets out of bed on a rainy day to go running.

A

________ means offering something that provides the best set of benefits at a specific price point, not necessarily the lowest price. A) Value B) Profit C) Margin D) Integrity

A

Select all that apply Select all the answers that correctly complete the following sentence: Team negotiations are the norm in _______. A) international trade B) unionized collective bargaining C) individual car sales D) low-volume sales situations

A, B

Which of the following are the three important considerations in profitology? A) sales volume B) price C) cost D) customer satisfaction E) value

A, B, C

Select all that apply Identify true statements about good salespeople. (Check all that apply.) A) They are excellent questioners and listeners. B) They are customer oriented rather than product oriented. C) They deliver creative solutions to solve customers' problems. D) They are consultative. E) They adopt an ABC approach to selling. F) They create value for the customer. G) They devote little time to understanding their customers' financial constraints and concerns.

A, B, C, D, F

Select all that apply From the following list, select all of the useful guidelines for reading another's emotions in email and other forms of online negotiation. There is more than one correct answer. A) Call or meet the other person occasionally for an emotional check-in. B) Check in with others to see how they're feeling. C) Assume that the other person will be able to read between the lines. D) State your emotions explicitly.

A, B, D

Select all that apply What are two reasons that companies pay sales commissions? A) to incentivize salespeople to produce more sales B) to ensure pay equity among the members of the sales force C) to reward and recognize salespeople who perform with high productivity D) to prevent employees from complaining about being overworked and underpaid

A, C

There are only two ways to increase revenue. What are they? A) Sell more products. B) Move operations overseas. C) Sell products at a higher price. D) Cut labor costs.

A, C

Select all that apply From the following list, select all the examples of variable costs. A) sales commissions B) rents C) raw materials D) salaries E) delivery costs

A, C, E

Select all that apply According to Victor Antonio, what are two key ways in which AI algorithms can help sales teams sell more and increase profits? A) performance management B) inventory management C) automated order processing D) price optimization

A, D

Select all that apply Which two items do we multiply together in order to calculate revenue? A) units sold B) inventory cost C) returns D) price

A, D

A recoverable ____________ is a set amount of money that a company pays to a sales representative at regular intervals. A) payout B) draw C) bonus D) perk

B

A(n) ________ negotiation style is most beneficial when you need to reach a short-term agreement quickly. A) collaborator B) competitor C) compromiser D) accommodator E) avoider

B

Negotiation ________ are the things that negotiators demand you give them and also the things on which they are not willing to budge. A) options B) positions C) interests D) alternatives E) agendas

B

Profitability refers to the ability to use resources to generate revenue in excess of ______. A) advertising costs B) expense C) sales D) investment

B

Salesperson compensation choice and incentive pay horizon are both ______ elements of sales compensation plans. A) core B) noncore

B

Units sold times price equals ______. A) markup B) revenue C) unit cost D) value

B

When trust is low or when the salesperson is engaged in a one-shot negotiation, a salesperson might consider making a(n) ________ concession. A) optional B) contingent C) symbolic D) lowball E) random

B

Which negotiators see conflict as a creative opportunity to satisfy both parties' goals? A) avoiders B) collaborators C) compromisers D) competitors

B

Which of the following techniques is most appropriate when dealing with the price objection? A) postpone B) value C) referral D) boomerang E) denial

B

With ________ compensation structure, organizations decide ahead of time how much they will pay their salespeople. A) None of these answers are correct. B) salary-only C) base salary plus commission D) commission-only E) base salary plus bonus

B

_______ do not like to negotiate, and they don't do it unless it's necessary. They adopt a "wait and see" approach, hoping that problems will solve themselves. A) Compromisers B) Avoiders C) Collaborators D) Accommodators

B

_______ is the ability to build rapport and maintain meaningful connections in order to successfully manage interactions. A) Positive visualization B) Relationship management C) Interpersonal communication D) Self-affirming

B

_____________ is a dialogue between two or more people or parties, intended to reach a beneficial outcome about one or more issues over which a conflict exists. A) Arbitration B) Negotiation C) Discussion D) Monologue

B

A sales rep with high sales EQ sees things from _______ perspective. A) a personal B) an accountant's C) the buyer's D) a corporate

C

One strategy for generating alternatives in a negotiation, known as ________, can work especially well when the two sides identify two or more issues and then make a tradeoff within those issues in play. A) dough-tossing B) breaking bread C) logrolling D) log-cutting E) expanding the pie

C

T/F: Lead scoring is a valuable tool in sales because it should help firms and the salespeople who work for them reduce which of the following types of costs? A) indirect costs B) fixed costs C) seller's opportunity costs D) direct costs E) variable costs

C

The ________ objection refers to the customer's concerns about the selling company, the salesperson, or perhaps both. A) time B) price C) source D) product E) no need

C

The price that customers are willing to pay is largely based on the ______ that salespeople provide. A) competitive analyses B) service C) solutions D) marketing materials

C

Typically, a base salary should be between ______ percent of a salesperson's anticipated total compensation. A) 80 to 90 B) 10 to 20 C) 25 to 50 D) 60 to 75

C

Which of the following techniques is appropriate if a salesperson knows that a particular objection will arise? A) compensation B) referral C) forestall D) boomerang E) acknowledge

C

Which tool allows a company to numerically rate its best prospective customers using software and statistical models? A) meta-analysis B) financial ratio analysis C) lead scoring D) prospect hunting

C

_______ is the ability to understand and identify with others' feelings and motivations—to step into someone else's shoes and experience emotions from his or her perspective. A) Antipathy B) Sympathy C) Empathy D) Misanthropy

C

Select all that apply Select all the answers that correctly complete the following statement: Finding the path to a convincing solution requires a negotiator to consider _______. A) only the negotiator's own goals and interests B) shareholders' best interests before the interests of any other stakeholders C) the legal requirements that bear on the situation D) the economic outcomes of a potential course of action E) ethical obligations to other parties in terms of what is fair and right

C, D, E

By focusing the mind on personal strengths and past successes, ________ produce(s) a self-fulfilling prophecy that inspires confidence. A) power movements B) fear of success C) grit D) self-affirmations E) alter-egos

D

Focusing on implications is important because ______. A) customers typically enjoy gossiping about the inner workings of their employer B) discussing implications helps salespeople emphasize a generic solution C) focusing on implications allows salespeople to skip situational and problem questions D) customers can easily lose focus on the negative ramifications of a problem

D

Gross margin equals _______ minus the cost of goods sold. A) gross sales revenue B) international sales revenue C) top-line sales revenue D) net sales revenue

D

In terms of sales compensation, a ________ is the fixed amount of money paid to a salesperson by the organization in return for work performed. A) recoverable draw B) None of these answers are correct. C) commission D) base salary E) bonus

D

Revenue - Total Costs = _______. A) Return on Investment B) Marginal Revenue C) Gross Margin D) Profit

D

Self-_______ is the ability to perceive one's own emotions and the impact they may have on oneself and on other people. A) control B) management C) esteem D) awareness

D

When utilizing the ________ technique to overcome an objection, the salesperson transitions the objection from a negative to a positive by discussing how the perceived negative should actually benefit the customer. A) referral B) acknowledge C) compensation D) boomerang E) forestall

D

T/F: Accommodators stand their ground when they face conflict with another party; they dig in their heels and refuse to compromise.

False

T/F: An avoider negotiating style is low in assertiveness but high in empathy.

False

T/F: Price discrimination is always illegal.

False

T/F: "Are you satisfied with your current level of customer satisfaction?" is an example of a closed question.

True

T/F: "Would it be possible for us to receive shipment at the end of the month instead of the beginning of the month?" is an example of a buying signal.

True

T/F: In SPIN selling, need-payoff questions are designed to help the customer and salesperson better understand the benefits available to the firm if the customer's problem were solved.

True

T/F: In a commission-only compensation structure, organizations pay salespeople based purely on their performance.

True

T/F: In markup pricing, marketers add a certain amount, usually a percentage, to the cost of the product, to set the final price.

True

T/F: Information dependence can prevent negotiators from manipulating or not disclosing information relating to their preferences and priorities.

True

A key benefit of using artificial intelligence (AI) in sales is that ______. A) it allows salespeople to put more time, energy, and resources into building relationships with clients B) it can reduce a company's labor budget by eliminating the need for a "live" sales force C) it eliminates the need for salespeople to call on their customers in person D) it can help companies get around government regulations regarding imports, exports, and taxes.

A

According to the dual-concern model, parties in a negotiation attempt to ______. A) balance personal needs and interests with others' needs and interests B) emphasize the status quo rather than change or evolution C) use deception and manipulation to achieve better outcomes for themselves D) engage in a "winner-take-all" approach to negotiation

A

Need-payoff questions mark a transition in the questioning process, from problems to ______. A) possibilities B) final solutions C) implementation D) technological advancement

A

One good piece of advice for communicating in email and online is to ______. A) state your emotions explicitly B) assume that the other person will read between the lines C) send an email and then wait a month to follow up D) ensure that all communications are conducted electronically

A

The greater patience and ability to delay _______ that are associated with high-EQ sales reps help them emotionally manage the uncertainties and frustrations that are often associated with buyers' decision-making processes. A) gratification B) urgent requests C) sales D) emotion

A

The study of increasing profit through sales is called ______. A) profitology B) volume loading C) cost-plus pricing D) revenue maximization

A

Which conflict style focuses on preserving relationships and building a friendly rapport by sacrificing some of the company's interests in favor of the opposite party's interests? A) accommodator B) avoider C) compromiser D) competitor

A

Which types of questions are designed to ensure that customers respond with a great deal of information and detail? A) open-ended questions B) multiple-choice questions C) closed questions D) true/false questions

A

Why is a price objection sometimes considered good news? A) Customers rarely raise a price objection unless they are seriously thinking of buying your product. B) Customers who raise price objections usually do not have much sway with the buying committee. C) It is easy to overcome the price objection without lowering the product's price. D) Price objections tend to occur only after the sale has been closed.

A

Select all that apply From the following list, select all the positives of salary-only compensation plans. There is more than one correct answer. A) These plans make it simple for organizations to calculate sales expenses and budget projections. B) Because salespeople don't have to worry about the financial consequences of missing their target, they may be less anxious. C) These plans are a good match for industries whose regulatory structure prohibits direct sales. D) These plans are less attractive to more experienced salespeople, which means that the company will hire a younger and more dynamic sales force.

A, B, C

Select all that apply From the following list, select all the ways that a poorly designed sales compensation plan can wreak havoc on an organization. There is more than one correct answer. A) It can drive away top talent. B) It can result in counter-productive or dysfunctional behavior. C) It can drain profits. D) It can discourage poor customer outcomes. E) It can encourage fraud.

A, B, C, E

Select all that apply Which of the following statements are true of salespeople's role in market research? There is more than one correct answer. A) Talking to salespeople is perhaps the lowest-cost qualitative research project an organization can do. B) Salespeople conduct qualitative research all the time as they interact with current and potential customers. C) Salespeople are rarely able to collect information about their competitors' products and prices. D) Salespeople provide an extensive amount of data on customers and potential customers that can help organizations set and manage prices.

A, B, D

Select all that apply From the following list, select all of the drawbacks of commission-only compensation plans. There is more than one correct answer. A) They can create income insecurity for salespeople with no guaranteed income, which can lead to high turnover. B) They put the company's bottom line at the mercy of inexperienced salespeople who may or may not perform. C) They can create aggression and high competition within a sales team. D) They can lead to ethical challenges.

A, C, D

From the following list, select all the statements that are true of people with a competitive conflict style. A) They see conflict as a win-lose situation. B) They often unnecessarily rush the negotiation process and make concessions too quickly. C) Their approach to conflict resolution typically involves imposing their solution on the other party. D) They often use power-based tactics to intimidate others and control the negotiation process. E) They enjoy negotiating because they view the situation as a game or sport that they plan to win. F) They emphasize the importance of long-term relationships.

A, C, D, E

From the following list, select all the situations in which team negotiation is appropriate. There is more than one correct answer. A) You want to display your strength to the other side. B) You are rushed for time in preparing for the negotiation. C) You feel suspicious of, or don't quite trust, other team members. D) The negotiation is complex, requiring a diverse set of knowledge, abilities, or expertise. E) You want to signal to the other side that you take the negotiation very seriously. F) The negotiation has great potential for creative, integrative solutions.

A, D, E, F

Select all that apply From the following list, select all the statements that apply to accommodators. A) They are sensitive to the emotional states, body language, and verbal signals. B) They are inclined to spend more time and resources than called for under the circumstances. C) They allow problems between parties to simmer. D) They are skilled at peacemaking. E) They derive satisfaction from meeting others' needs. F) They enjoy solving the other party's problems and preserving personal relationships.

A, D, E, F

Flora knows how to build rapport and maintain strong connections with her colleagues, her managers, and her customers. In which dimension of sales EQ is Flora particularly strong? A) self-management B) relationship management C) self-awareness D) social awareness

B

In dealing with conflict, Maria believes in emphasizing positive relationships. She doesn't mind conceding on some issues in order to build and maintain good relationships with her clients. She feels great satisfaction knowing that she's helped her customer achieve a good outcome. Mary is best described as a(n) ______. A) avoider B) accommodator C) competitor D) compromiser

B

Pricing directly reflects the ________ that the product delivers to consumers and captures for the firm. A) branding B) value C) satisfaction D) marketing

B

The SPIN acronym refers to the four types of questions that effective salespeople ask: situational, problem, ______________, and need-payoff questions. A) Immediate B) Implication C) Irrational D) Internal

B

What strategy does a salesperson implement when using the success-story technique? A) Offering two legitimate choices for the customer to choose from B) Giving an example of another customer who agreed to something similar and benefited from the decision C) Laying out the pros and cons associated with commitment D) Asking for the commitment directly

B

When negotiating a contract, Avery has no empathy for the other party. His chief concern is ensuring that his company gets a much better deal than the other company, and he sometimes uses coercion and manipulation to achieve his goals. As a result of his conflict style, Avery sometimes creates hard feelings that damage his company's long-term relationships. Avery is best described as a(n) _______. A) avoider B) competitor C) accommodator D) collaborator

B

Which of the following is an example of price discrimination? A) A car company places an advertisement that shows a particular car model with the incredibly low price of $9,999. When interested buyers go to the dealership, they learn that the price is $9,999 after the buyer has paid a $20,000 down payment. B) Barnes & Noble bookstores give a 10 percent discount to shoppers who belong to the Barnes & Noble customer club. C) Two leading producers of desktop computers agree not to sell a computer for less than $700. D) A tire manufacturer sets its prices extremely low with the intention of driving its competitors out of business.

B

_______________ is the amount of something—money, time, or effort—that a buyer exchanges with a seller to obtain a product. A) Value B) Price C) Cost D) Effort

B

Select all that apply From the following list, select the situations in which salary-only compensation plans can work well. There is more than one correct answer. A) when companies are trying to motivate their sales force to exceed their quotas B) when the selling organization has a very collaborative culture C) when the sales team is tightly involved in delivery and overall company performance D) when an experienced sales force is looking to maximize its compensation

B, C

Select all that apply The two keys to building greater social awareness are ______ and ______. A) formulating a response while another person is speaking B) more astute observation skills C) better listening D) more accurately predicting another's responses

B, C

Select all that apply Which of the following criteria are used in lead scoring? There is more than one correct answer. A) sellers' goals B) prospect behaviors C) buying stage D) eye and hair color E) demographic factors F) buyers' interests

B, C, E, F

A performance management AI algorithm ______. A) emphasizes low prices, discounts, and other sales incentives as a method of meeting monthly or quarterly sales quotas. B) focuses on building relationships with key customers. C) helps sales management track sales reps' activities so as to ensure that the company meets its overall sales targets. D) reviews specific features of each past deal that was won or lost.

C

Gross margin commissions are popular because they ______. A) help salespeople manage extraneous costs B) keep salespeople focused on customer service C) discourage discounting on price D) emphasize sales rather than profit

C

Suppose that Malcolm sells new cars at a local BMW dealership. On the 15th of the month, he receives a recoverable draw of $1,000. At the end of the month, Malcolm's manager determines that, based on Malcolm's sales performance that month, he has earned $3,000 in commissions. How much pay will Malcolm receive in his end-of-month commission check? A) $3,000 B) $1,000 C) $2,000 D) $1,500

C

The best method for dealing with source objections is ______. A) pointing to the company's latent and unacknowledged needs B) emphasizing your company's presence on social media and other channels frequented by under-30s C) identifying the basis for the objections and addressing the root concern D) making an appointment with the company's president or CEO to discuss your company's history and mission statement

C

Which types of needs are known to the customer but might not be important enough to merit action? A) technological needs B) latent needs C) explicit needs D) implied needs

D

Which types of questions help salespeople better understand the situation that their customer is facing? A) need-payoff questions B) implication questions C) problem questions D) situational questions

D

Which types of questions help the customer and salesperson better understand the consequences arising from uncovered problems? A) positive questions B) negative questions C) need-payoff questions D) implication questions

D

T/F: Base salary refers to a salesperson's total compensation, including bonuses and benefits.

False

T/F: Situational questions should be broad, focusing on the problem that needs to be solved at the company level.

False

T/F: Situational questions tend to be very valuable to customers.

False

T/F: A lack of product features can sometimes be beneficial in making sales.

True

T/F: Lead scoring helps a company make sure that prospects are matched to the right sales reps at the most appropriate time, based on prospect behaviors, buying stage, interests, or demographic factors.

True

T/F: Much of the value that salespeople provide their customers occurs after the sale is made.

True

T/F: Those who choose to engage in unethical negotiations increase the likelihood of reputational risk for themselves and their organization.

True