MKT 325 Exam 1 Study Questions

The _______ strategy is a well-thought-out plan for establishing, building, and maintaining quality relationships. a. presentation b. product c. selling d. customer e. relationship

relationship

Careers in selling include three types of career options and employment opportunities. These are a. consulting, business-to-business, and business-to-consumer b. industrial sales, consumer sales, and service sales c. services, business sales, and consumer goods d. business sales, consumer sales, and capital equipment sales e. inside sales, outside sales, and sales management

services, business sales, and consumer goods

__________ occurs when a company representative interacts directly with a customer or prospective customer to present information about a product or service. a. repeat selling b. personal selling c. cold calling d. order taking e. order processing

Personal Selling

Personal selling is typically considered a major method in what part of the marketing mix? a. pricing strategy b. promotional strategy c. product development d. distribution e. people

Promotional strategy

The primary reason for the shift to an information economy was caused by a. a shift from heavy industrial activity to an emphasis on information processing b. the invention of the personal computer c. the invention of the Internet d. the invention of software e. the founding of Microsoft and Apple

a shift from heavy industrial activity to an emphasis on information processing

In the United States, one reason for the shift to an information economy was caused by a. the founding of Microsoft and Apple b. the invention of the Internet c. a shift from industrial activity to an emphasis on information processing d. the invention of the personal computer e. the invention of software

a shift from industrial activity to an emphasis on information processing

Which of the following represents the two factors that have contributed to the creation of new titles for salespersons? a. a shift from selling to consulting and the need for new skill sets b. the addition of responsibilities and requirement of a college degree c. increased pay and greater professional prestige d. increased value in transactions and reduced value in relationships e. a reflection of greater numbers of and diversity in salespersons

a shift from selling to consulting and the need for new skill sets

The goal of ______ is to achieve a marketplace advantage by teaming up with another company whose products or services fit well with its own. a. product strategy b. relationship strategy c. customer relationship management d. a strategic selling alliance e. partnering

a strategic selling alliance

Which key element of the "problem-solver stage" relates to a salesperson's ability to collect information regarding the customer's needs and responding appropriately? a. product selling b. adaptive selling c. strategic selling d. transactional selling e. relationship selling

adaptive selling

Today's workforce is made up of millions of knowledge workers who succeed only when they a. add value to information b. discourage relationships c. avoid using sales skills in other professions d. invalidate existing information e. create brand new information

add value to information

The three prescriptions in the personal selling philosophy are a. making others buy, closing deals, and achieving sales goals b. adopting the marketing concept, achieving sales goals, and telling the customer what to buy c. having a great personality, convincing others to buy, and closing deals d. adopting the marketing concept, valuing personal selling, and being a problem solver and partner e. majoring in sales, adopting the marketing concept, and being a person who solves problems

adopting the marketing concept, valuing personal selling, and being a problem solver and partner

Need assessment, problem solving, relationship building, and sales follow-up are key to which of the following? a. strategic selling b. conflict management c. transactional selling d. e-commerce selling e. consultative selling

consultative selling

Establishing a relationship based on trust, carefully identifying the customer's needs, and identifying the best possible solutions are ways that salespeople can a. increase corporate profits b. create a value c. set realistic sales goals d. emphasize the value in the product e. create customer value needs

create a value

The information economy rewards those salespeople who have the skills, the knowledge, and the motivation to _______ at every step of the sales process. a. to strategically manage the customer b. fulfill customer needs and wants c. manage the customer relationship d. improve the customer experience e. create value

create value

Success in personal selling rests on the critical ability to a. explain the advantages of the product b. identify negative characteristics of the competitor's product c. introduce an innovation to the consumers d. communicate the value of a product e. create value for the customers

create value for the customers

The definition of value-added selling is a series of a. creative improvements that enhance the customer's experience b. creative improvements that enhance the customer's bottom line c. creative improvements to the customer's innovation process that brings value to the research and development outcomes d. creative improvements that enhance the salesperson's sales goal objectives e. manufacturing improvements that enhance the customer's manufacturing process

creative improvements that enhance the customer's experience

Under the marketing concept, ____ are the paths to sales and profits. a. value and customer relationship management b. market strategy and customer focus c. market strategy and sales focus d. customer focus and value e. sales promotion and customer focus

customer focus and value

Under the marketing concept, _______ are the paths to sales and profits. a. sales promotion and customer focus b. market strategy and sales focus c. value and customer relationship management d. customer focus and value e. market strategy and customer focus

customer focus and value

Coincidental with the era of marketing and the age of information, which of the following is of primary importance to business success? a. to develop innovative products b. to determine the wants and needs of customers c. to build customer interest in new products d. to provide information e. customer satisfaction

customer satisfaction

Once the marketing concept becomes an integral part of a firm's philosophy, its management seeks to develop a network of marketing activities that maximize a. customer satisfaction and manufacturing capacity b. meeting the sales department's goals and ensuring profitability c. the salesperson's goals and objectives d. customer satisfaction and ensure profitability e. ensuring profitability while reducing inventory levels

customer satisfaction and ensure profitability

Which of the following terms is used to describe knowledge workers who process reservations, accept orders, handle complaints, and provide technical assistance in support of sales representatives? a. consultants and professionals b. marketer c. entrepreneurs d. managerial personnel e. customer service representative

customer service representative

Selling skills contribute in a major way to four groups of knowledge workers who usually do not consider themselves salespeople: a. customer service representatives, professionals, entrepreneurs, and sales managerial personnel b. customer service representatives, professionals, entrepreneurs, and managerial personnel c. inside sales persons, outside salespersons, sales managers, and customer service representatives d. customer service representatives, software developers, professionals, and entrepreneurs e. customer service representatives, professionals, entrepreneurs, and computer systems programmers

customer service representatives, professionals, entrepreneurs, and managerial personnel

The 4 broad strategic areas in the strategic/consultative-selling model are a. developing a relationship strategy, developing a product development strategy, developing a customer service strategy, and developing a presentation strategy b. developing a marketing strategy, developing a product strategy, developing a customer strategy, and developing a presentation strategy c. developing a relationship strategy, developing a research and development strategy, developing a customer strategy, and developing a presentation strategy d. developing a relationship strategy, developing a product strategy, developing a customer strategy, and developing a proposal strategy e. developing a relationship strategy, developing a product strategy, developing a customer strategy, and developing a presentation strategy

developing a relationship strategy, developing a product strategy, developing a customer strategy, and developing a presentation strategy

One of the elements of the personal selling process is interacting directly with the customer or prospect to ______, and match appropriate products or services. a. discuss product specifications b. discuss new innovations c. make a presentation d. discover needs e. understand more about his or her budget

discover needs

The primary rewards of a career in selling are a. great pay and security b. financial rewards, recognition, security, and chance for advancement c. great pay and opportunity to telecommute d. support staff, security, and good pay e. flexibility, opportunity to travel, security, and good pay

financial rewards, recognition, security, and chance for advancement

Careers in selling offer ________ to a degree that is unique, when compared to other occupations. a. great pay and security b. great pay and opportunity to telecommute c. flexibility, opportunity to travel, security, and good pay d. financial rewards, recognition, security, and opportunities for advancement e. support staff, security, and good pay

financial rewards, recognition, security, and opportunities for advancement

The primary reasons people choose a career in sales include a. telecommuting from a home office and good pay b. financial security, flexibility, and security c. security, recognition, and the opportunity to travel d. financial rewards, support staff, and security e. financial rewards, recognition, security, and opportunities for advancement

financial rewards, recognition, security, and opportunities for advancement

Tools like computers, mobile phones, smartphones, websites, CRM tools, and many other technology applications help improve relationship selling by a. handling finance and accounting issues b. providing more quality products c. processing orders more efficiently d. increasing price transparency e. increasing the speed by which we acquire, process, and disseminate information

increasing the speed by which we acquire, process, and disseminate information

Salespeople use a variety of _____ to gather and process information of value to the customer. a. cloud technologies b. software tools c. customer relationship management software programs d. websites e. information technology

information technology

Salespeople, especially in relationship selling, use _____ to gather and process information of value to the customer. a. customer relationship management software programs b. information technology c. websites d. cloud technologies e. software tools

information technology

Value is created for both the buyer and seller by improving speed, ability to collaborate, customer engagement, and accountability through the use of a. ecommerce applications b. information technology along with innovative sales practices c. customer relationship management (CRM) applications d. customer relationship management (CRM) applications and the Internet e. the internet and smartphones

information technology along with innovative sales practices

Today's workforce is made up of millions of ______ who succeed only when they add value to information. a. professionals and managerial personnel b. unemployed technology workers c. information technology workers d. knowledge workers e. consultants and professionals

knowledge workers

Which of the following is the best definition of a knowledge worker? a. knowledge workers are limited to information technology workers b. knowledge workers are individual whose work effort is centered on creating, using, sharing, and applying knowledge c. knowledge workers include millions of unemployed technology workers who now must gain further knowledge d. knowledge workers are consultants e. knowledge workers are professionals and managerial personnel

knowledge workers are individual whose work effort is centered on creating, using, sharing, and applying knowledge

The sweeping change in personal selling models has moved from peddling to a. convincing and persuading b. persuading and value-added partnering c. persuading and long-term consultative problem solving d. long-term consultative problem solving and value-added partnering e. deal closing and value-added partnering

long-term consultative problem solving and value-added partnering

In addition to selling products, many outside salespeople offer other services to their customers including: a. merchandising and product idea generation b. extending credit and providing investment insights c. supervising production and distributing goods d. maintaining inventories and merchandising e. providing promotional support and legal advice

maintaining inventories and merchandising

Consultative selling is a natural extension of the a. customer relationship process b. strategic planning stage c. marketing plan d. sales plan e. marketing concept

marketing concept

Consultative selling, which is an extension of the marketing concept, emphasizes a. solutions for the customer b. consulting with the client to determine product specifications c. identification of customer price points d. need identification e. selling as a part of the marketing process

need identification

Persuading, influencing, and convincing others in ways that don't involve purchases is referred to by which of the following? a. persuasion b. manipulation c. non-sales selling d. cause marketing e. B2B selling

non-sales selling

Inside salespeople often prospect, generate, and qualify leads for a. the purpose of creating buzz with customers about a product or service b. the purpose of closing business for the outside salesperson c. the purpose of creating a larger pipeline d. outside salespeople to call on personally e. the senior-level management team

outside salespeople to call on personally

Strategic account management is the highest form of a. selling b. marketing c. personal selling d. partnering e. employment

partnering

The role of the inside salesperson often includes a. making sure the customer pays their invoice b. trying to achieve higher levels of sales than the outside salesperson c. providing ongoing customer support and service d. taking care of the outside salesperson's expense reports e. performing selling activities at the employer's location, typically using the telephone and e-mail

performing selling activities at the employer's location, typically using the telephone and e-mail

The stages of the evolution of the sales process are the a. problem-solver stage and then the deal-closer stage b. persuader stage and then problem-solver stage c.order-taker stage and then the deal-closer stage d. the convincer stage and eventually, the problem-solver stage e. convincer stage and then deal-closer stage

persuader stage and then problem-solver stage

Personal selling is about adopting the marketing concept, valuing personal selling, and becoming a _______ with the customer or prospect. a. strategic partner b. partner and collaborator c. problem solver and partner d. problem solver and collaborator e. vendor of choice

problem solver and partner

Becoming a product expert, selling benefits, and creating value-added solutions are the three prescriptions for _______ strategy. a. presentation b. customer c. global d. relationship e. product

product

The role of the inside salesperson often includes a. providing ongoing customer support and service, meeting customer needs, and being alert for new sales opportunities b. taking care of the outside salesperson's expense reports c. making sure the customer pays their invoice d. trying to achieve higher levels of sales than the outside salesperson e. providing ongoing customer support and service

providing ongoing customer support and service, meeting customer needs, and being alert for new sales opportunities

Which of the following terms is used to describe factors that provide psychological rewards? a. psychological value b. psychic income c. morale building d. recognition e. motivation

psychic income

Which area of the Strategic/Consultative-Selling Model focuses on establishing, building, and maintaining connectivity with customers? a. product strategy b. global strategy c. presentation strategy d. customer strategy e. relationship strategy

relationship strategy

Strategic selling evolved in the 1980s and involves the preparation of a carefully conceived plan to accomplish a. financial plans b. customer relationship management c. positioning and differentiation strategy objectives d. sales territory management e. sales objectives

sales objectives

Corning, a maker of glass products, formed a relationship with Samsung, a South Korean manufacture of televisions. This is an example of which of the following? a. corporate takeover b. corporate acquisition c. joint venture d. customer relationship management e. strategic account partnership

strategic account partnership

The plan that includes strategies that you use to position yourself with the customer before the sales call even begins is called the a. strategic plan b. marketing plan c. advertising and sales promotion plan d. strategic selling plan e. sales plan

strategic selling plan

Partnering is a a. long-term relationship that eventually achieves sales goals b. long-term relationship that solves specific engineering problems c. long-term relationships that solves the customer's long-term financial concerns d. strategically developed, long-term relationship that solves the customer's problems e. strategically developed, long-term relationship that solves the customer's research and development issues

strategically developed, long-term relationship that solves the customer's problems

Since the beginning of the information age, personal selling has evolved through three distinct developmental periods: a. the consulting selling era, the strategic selling era, and the cooperative selling era b. the consulting era, the strategic planning era, and the partnering era c. The consultative selling era, the marketing planning era, and the partnering era d. the consultative selling era, the strategic planning era, and the partnering era e. the consultative selling era, the strategic selling era, and the partnering era

the consultative selling era, the strategic selling era, and the partnering era

Strategic account management seeks ______ with a limited number of key customers. a. the development of strategic merger and acquisition opportunities b. the development of strategic partnering relationships c. the development of strategic manufacturing relationships d. the development of strategic innovation initiatives e. the development of strategic research and development initiatives

the development of strategic partnering relationships

The salespeople who will be rewarded in the information economy are those that have a. engineering backgrounds, understand technology, and motivation b. non-engineering backgrounds, understand technology, ad motivation c. sales training, product development experience, and motivation d. the skills, knowledge, and motivation to create value at every step of the sales process e. college degrees and motivations to achieve sales success

the skills, knowledge, and motivation to create value at every step of the sales process

Creating an appealing value proposition, communicating the value proposition, and delivering on the value proposition are a. the three components of a differentiation strategy b. the three components of a marketing strategy c. the three components of a selling strategy d. the three components of a successful product development strategy e. the three components of value creation

the three components of value creation

Services sales, business goods sales, and consumer goods sales represent a. the most rapidly expanding segments of the economy b.business segments that hold the greatest opportunity for both inside sales and outside sales representatives c. business segments that have the greatest need for salespersons d. the three major career and employment opportunity options for salespersons e. business segments where salespersons can realize the greatest financial rewards

the three major career and employment opportunity options for salespersons

Critical success factors for salespersons include a. time management, setting priorities, and executing successfully b. hitting sales targets, opening new accounts, and networking c. hiring capable salespeople, forecasting sales correctly, and opening new accounts d. extensive use of technology, building a large pipeline, and increasing sales e. using customer relationship management tools, expanding territories, and increasing sales

time management, setting priorities, and executing successfully

The primary factors that are critical for success in sales include a. opening new accounts, networking, and hitting sales targets b. ability to use information technology, closing substantial business, and using customer relationship management tools c. increasing pipelines, winning new accounts, and forecasting sales correctly d.time management, setting priorities, and executing successfully e. use of customer relationship management systems, ability to expand sales territories, and increasing sales

time management, setting priorities, and executing successfully

What is the purpose of salesforce.com? a. to provide a database of sales positions that are available in the United States b. to provide a "match" website for sales-position seekers and coporations c. to provide sales training opportunities d. to provide a global database of open sales positions e. to provide CRM support for sales force and marketing personnel

to provide CRM support for sales force and marketing personnel

The selling of a good or service to another member of the supply chain is referred to by which of the following terms? a. trade sales b. B2C sales c. detail sales d. missionary sales e. sales engineer

trade sales

Which of the following is a definition of personal selling? a. when a salesperson calls a new or unqualified prospect b. when the salesperson completes a repeat sale c. when the salesperson processes an order d. when a salesperson interacts directly with a customer or prospective customer e. when the salesperson takes an order

when a salesperson interacts directly with a customer or prospective customer