MK330: Exam 2 Review
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.
- Call or meet the other person occasionally for an emotional check-in. - Check in with others to see how they're feeling. - State your emotions explicitly.
open-ended questions
- Can you tell me about the difficulties you're having with your point-of-sale terminals? - How does your company see itself evolving in the next five years? correct Toggle Button Unavailable. How does your company see itself evolving in the next five years?
From the following list, select all the statements that are true of negotiation.
- It is back-and-forth communication designed to reach an agreement. - It is a dialogue between two or more people or parties. - Its goal is to reach a beneficial outcome about one or more issues over which a conflict exists.
From the following list, select all of the recommended tactics for dealing with deception in negotiation.
- Maintain silence. - Consult the company's written guidelines for dealing with the situation. - Call the person on his or her untruthfulness. - Force the other party to lie or back off. - Consult with your sales manager and bring him/her into the discussion.
Which of the following guidelines make good sense in terms of managing the challenges of video conferencing? There is more than one correct answer.
- Make sure the area behind you is neutral and professional. - Keep your hand gestures within the frame so that your counterpart can see them. - Have a back-up plan in case technical difficulties crop up. - Minimize sound and visual distractions on your end as much as possible.
When you encounter a time objection, which of the following scenarios are likely? (Check all that apply.)
- The customer is considering the offer but needs more time to consider the information and offer. - The customer wants to get rid of the salesperson.
From the following list, select all the statements that are true of people with a competitive conflict style.
- Their approach to conflict resolution typically involves imposing their solution on the other party. - They enjoy negotiating because they view the situation as a game or sport that they plan to win. - They see conflict as a win-lose situation. - They often use power-based tactics to intimidate others and control the negotiation process.
From the following list, select all the statements that describe collaborators.
- 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. - They are good at identifying the issues underlying the dispute and working together to find a solution satisfying to both sides. - They see conflict as a creative opportunity to satisfy both parties' goals.
closed questions
- Would you like to know more about our CRM software? - Are you satisfied with your video conferencing system?
From the following list, select all the situations in which team negotiation is appropriate. There is more than one correct answer.
- You want to signal to the other side that you take the negotiation very seriously. - The negotiation has great potential for creative, integrative solutions. - The negotiation is complex, requiring a diverse set of knowledge, abilities, or expertise. - You want to display your strength to the other side.
From the following list, select all the choices that accurately complete the following sentence: Salespeople who embrace customers as solution co-creators recognize that _______.
- customers can provide returns that go well beyond financial returns - most solutions are of little value without customer input and involvement - it is very difficult to deliver customer value without customer involvement
Select all the answers that correctly complete the following statement: Finding the path to a convincing solution requires a negotiator to consider _______.
- ethical obligations to other parties in terms of what is fair and right - the legal requirements that bear on the situation - the economic outcomes of a potential course of action
Select all the answers that correctly complete the following sentence: Team negotiations are the norm in _______.
- international trade - unionized collective bargaining
The four types of SPIN questions are ______, ______, ______, and ______.
- problem questions - need-payoff questions - implication questions - situational questions
From the following list, select three limitations of video conferencing.
- technical difficulties - privacy and security challenges - limited visibility
_______ 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.
Avoiders
_______ questions are specific and require short, direct responses.
Closed
Which of the following are negotiation styles? (Check all that apply.)
Collaborators Avoiders Competitors Compromisers
In conducting negotiations, Cirroc believes that some decisions will benefit one party while other decisions will benefit the other party. He sees this outcome as fair and equal: "I win sometimes; you win sometimes." Cirroc is best described as a(n) ______.
Compromiser
Why is a price objection sometimes considered good news?
Customers rarely raise a price objection unless they are seriously thinking of buying your product.
legacy
Does this action reflect how I want to be known and remembered?
A competitive negotiation style tends to work best when both parties have ample time to reach a long-term agreement.
False
Accommodators stand their ground when they face conflict with another party; they dig in their heels and refuse to compromise.
False
An objection based on a product's value or the customer's budget is the same as a price objection.
False
Customers are the passive recipients of information from salespeople, who offer a one-size-fits-all solution to customers' problems.
False
Customers tend to be aware of latent problems.
False
In today's marketplace, it is quite easy to differentiate one company's products from another company's products.
False
Situational questions tend to be very valuable to customers.
False
_______ questions help the customer and salesperson better understand the benefits available to the firm if the customer's problem gets solved.
Need-payoff
Implied needs
Needs that are known to the customer but might not be important enough to merit action.
Explicit needs
Needs that require immediate customer attention.
The belief that a product is too expensive is the basis for a ________ objection.
Price
In terms of the SPIN acronym, _______ questions are designed to help the customer and salesperson identify issues that need to be addressed.
Problem
balance-sheet technique
The salesperson lists the positives and the negatives associated with commitment.
alternative-choice technique
The salesperson provides two legitimate options for the customer to choose between.
direct-request technique
The salesperson simply asks for the commitment.
success-story technique
The salesperson tells the story of another customer who agreed to something similar and benefited from the decision.
Often, ________________ the objection results when too many things are competing for a buyer's attention.
Time
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
Accommodating negotiation styles work best in situations in which your company has caused harm to another and needs to repair a significant relationship.
True
Collaborators should use caution when working with competitive negotiators.
True
Customers may resist acknowledging a business need if doing so requires them to admit that they made mistakes in the past.
True
Information dependence can prevent negotiators from manipulating or not disclosing information relating to their preferences and priorities.
True
Much of the value that salespeople provide their customers occurs after the sale is made.
True
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
The avoider-type negotiation style works best in situations in which the negotiation concerns a matter that is trivial to both parties.
True
universality
Would I advise anyone else in my position to act this way?
publicity
Would I be comfortable if my actions were fully and fairly described in the newspaper?
trusted friend
Would I be comfortable telling my best friend, spouse, or children what I am doing?
Reciprocity
Would I want others to treat me or someone close to me this way?
A key benefit of email negotiation is that it ______.
allows parties to negotiate over long distances quickly, efficiently, and inexpensively
In the _______ -choice technique, the salesperson provides two legitimate options for the customer to choose between, along with guidance about which is more appropriate.
alternative
To address a customer's objections effectively, a good salesperson______.
asks additional questions to develop a full understanding of the objections
According to the dual-concern model, parties in a negotiation attempt to ______.
balance personal needs and interests with others' needs and interests
Which commitment-gaining technique is advisable in complicated sales situations or when dealing with analytical customers?
balance-sheet technique
inappropriate information gathering
bribery
Problem questions are typically ______ at the beginning of the questioning sequence and become ______ based on the information that the customer provides.
broader, narrower
Misrepresentation by ______ involves outright lying or falsification of information.
commission
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) _______.
competitor
misrepresentation to opponent's networks
corrupting opponents' reputation with their peers
The most effective salespeople today are ______ oriented rather than ______ oriented.
customer, product
Focusing on implications is important because ______.
customers can easily lose focus on the negative ramifications of a problem
Information __________ is the exchange of information about the true preferences and priorities of the other party in a negotiation. (Be careful with spelling as you type.)
dependence
Which of the following is the most common commitment-gaining technique? This technique involves the salesperson simply asking for the commitment.
direct request
misrepresentation
distorting information
misrepresentation by omission
failure to disclose all information that would benefit the other party
emotional manipulation
faking negative emotions (anger, fear, disappointment) in order to influence the other party
The best method for dealing with source objections is ______.
identifying the basis for the objections and addressing the root concern
The SPIN acronym refers to the four types of questions that effective salespeople ask: situational, problem,________ , and need-payoff questions.
implication
Which types of questions help the customer and salesperson better understand the consequences arising from uncovered problems?
implication questions
Which types of needs are known to the customer but might not be important enough to merit action?
implied needs
In the dual-concern model of conflict resolution, ________ includes no demands or concessions, downplaying issue importance, and ignoring requests and deadlines.
inaction
inappropriate information gathering
infiltration and spying
misrepresentation by commission
involves outright falsification of information; nearly always viewed as unethical
unethical traditional competitive bargaining
low-balling or making an inflated opening offer
bluffing
making insincere threats or promises
dilemma of trust
negotiators who believe everything the other party says can be manipulated by dishonesty
dilemma of honesty
negotiators who share all of their exact requirements and limits will never achieve an outcome better than their walk-away point
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?
no-need objection
unethical traditional competitive bargaining
not disclosing your walk-way position
People tend to view other people's unethical behavior as caused by _______, while attributing the causes of their own behavior to _______.
personality traits, outside factors
Need-payoff questions mark a transition in the questioning process, from problems to ______.
possibilities
Which two items do we multiply together in order to calculate revenue?
price units sold
Which principle of ethical behavior asks you to consider whether you would want others to treat you as you are treating them?
principle of reciprocity
Concerns about installation and warranties are often part of _____ objections.
product
In the alternative-choice technique, the salesperson:
provides two legitimate options for the customer to choose between.
The goal of negotiation is to _______.
reach an agreement
In the direct- _______ technique for gaining commitment, the salesperson simply asks for the commitment.
request or ask
In terms of the SPIN acronym, ______ questions are designed to help the salesperson better understand the situation that the customer is facing.
situational
Which type of objection refers to the customer's concerns about the selling company, the salesperson, or both?
source
Most ethics issues in negotiations center on ______.
standards of truth telling
One good piece of advice for communicating in email and online is to ______.
state your emotions explicitly
Often, the ________ objection results when too many things are competing for a buyer's attention.
time
Videoconferencing is imperfect, but it does allow parties to view one another's visual, verbal, and other sensory cues.
true
According to the dilemma of ______, a negotiator who believes everything the other party says can be manipulated by dishonesty.
trust
Pricing directly reflects the ________ that the product delivers to consumers and captures for the firm.
value
what is practical
what a negotiator can make happen in a given situation
what is prudent
what is wise in terms of achieving a desired outcome
what is ethical
what society defines as right or wrong
what is legal
what the law defines as acceptable practice
