MKTG 430 QUIZ 1
T/F: Although important for evaluating customers, calculating a breakeven sales volume is not necessary when prospecting for new customers
FALSE
T/F: As a result of cutting out the middle man to reduce costs and prices, the number of channels through which consumer products can be sold has decreased in recent years
FALSE
T/F: Cold canvassing is a common method of prospecting in consultative type of selling
FALSE
T/F: Customer dissatisfaction with quality of service has been caused by deteriorating customer service provided by most companies
FALSE
T/F: Direct selling expenses are those associated with selling a product directly to the final user of the product
FALSE
T/F: In itself, breakeven analysis does not decide the optimal time allocation between prospecting and servicing accounts
FALSE
T/F: Most large companies access their markets exclusively through a direct sales force
FALSE
T/F: Most sales force automation initiatives have been successful
FALSE
T/F: Sales and customer relationship skills are most important during the growth phase
FALSE
T/F: Sales process models such as the sales funnel are best suited for salespeople selling big ticket items where prospecting for new sales opportunities is important
FALSE
T/F: Strategic implementation decisions include the marketing mix decisions a firm makes when executing its strategy
FALSE
T/F: Supply chain management is primarily concerned with the integrations and coordination of a firms own logistical operations
FALSE
T/F: Telemarketing as means of accessing customers is growing rapidly, but is usually limited to orders of $300 or less
FALSE
T/F: The basic notion behind the idea of a hierarchy of sales objectives is that some objectives are more important than others
FALSE
T/F: The first step in developing a GTM strategy is to identify all activities needed to serve customers properly
FALSE
T/F: The sales force is generally responsible for designing and implementing a firms CRM processes
FALSE
T/F: According to the portfolio model of effort allocation, salespeople should spend most of their time calling on new prospects
TRUE
T/F: Breakeven sales volume is the sales volume necessary to cover all direct selling expenses
TRUE
T/F: Companies may view integrators as competitors, even though they may help sell the company products
TRUE
T/F: For a consultative relationship to be profitable for the supplier, it must be a long term relationship
TRUE
T/F: It is not unusual for manufacturers to sell to distributors, when faced with low-priced competitors
TRUE
T/F: One result of proliferating new channels is that many companies are able to reduce the size of their sales force
TRUE
T/F: Over 2/3 of worlds purchasing power is outside the US
TRUE
T/F: The biggest time wasters for most people are activities that have high apparent urgency, but low personal importance
TRUE
T/F: The easiest and most widely used model for allocating salespersons time is the multiple factor model
TRUE
T/F: The minimum size customer that a salesperson should call on is closely related to the cost of making a sales call
TRUE
T/F: When a customer purchases from a particular supplier primarily because of the consistency of its product quality, the customer and supplier are most likely in a transactional relationship
TRUE
T/F: 5% of US work force are employed in salesT/F:
FALSE
T/F: A company sales force program should follow directly from the top managements business strategic decisions
FALSE
Two responsibilities of sales management
1. Achieving or exceeding performance goals for the current period 2. Developing the people reporting to them
What are the strategic implementation decisions?
1. Go to market strategy 2. Product development Management 3. Supply chain management 4. Customer relationship management
Market segmentation aggregates customers into groups that:
1. Have one or more common characteristics 2. Have similar needs 3. Will respond similarly to a marketing program
T/F: A Typical sales manager career path might be hired as district sales manager, promoted to regional sales manager to national sales manager then VP of marketing
FALSE
Business mission statements must have three elements:
1. Type of customer 2. Specific needs to be fulfilled 3. Activities and technologies used to fulfill those needs
The median age of newly appointed field sales managers is?
30
Paths for increasing the value of a firms customer base include which of the following?
Acquiring new customers Reducing turnover of existing customers
Which of the following statements are true regarding sales networks?
All of the above
The most powerful motivator for salespeople is usually:
Compensation
The three Cs's of an organizations business are:
Customers Competitors Company
Personal Selling
Direct communications between paid representatives and prospects that lead to transactions, customer satisfaction, account development, and profitable relationships
In which type of relationship are both the physical product and the sales force of secondary importance?
Enterprise
How is the marketplace changing for customers?
Fewer suppliers Rising expectations Increasing power
Compared to other promotional tools, the most important advantages of personal selling is: ________ and __________
Gaining customer commitment Creating customer value
How is the marketplace changing for competition?
Global Shorter production cycles Proliferation (Competitive boundaries are blurring)
Value added resellers (VARS) in the computer industry are service providers, unaffiliated with any single supplier, who advise their client on computer needs. VARS are a good example of which of the following?
Integrators
Sales process activity cycle:
Interest creation Prepurchase Purchase Postpurchase
What is the problem with the portfolio method?
Lack of optimal solution to the allocation of sales calls
What are the three levels of sales force decision sequence?
Level 1: Top management decisions Level 2: Strategy implementation decisions Level 3: Sales force program decisions
What are the three kinds of generic business strategies?
Low cost Differentiation Niche
What is NOT a benefit of portfolio model over single factor model?
Lower cost method of analysis
Sales manager
Person responsible for management of field sales operations
What are opportunities with high personal importance but low apparent urgency?
Personal growth
Sales management
Planning, leading, and controlling of personal contact programs designed to achieve the sales and profit objectives of the firm
Marketing mix
Products, price, place, promotion
Sales funnel has three categories from top to bottom:
Prospecting the unqualified opportunities Working the qualified opportunities Closing best few opportunities
In transactional relationships, the primary persons directly involved with customers are the ________ and the _____________
Sales manager, customer service rep, Orr salesperson
When introducing a new product, studies show that which of the following changes are likely to be made to a firms sales program?
Sales structure and quota system
What are the four methods for setting account priorities?
Single factor Portfolio Decision Sales process
How is the marketplace changing for the selling process?
Solution selling Sales teams Sales networks Productivity metrics
Encyclopedia Britannica Corps's recent decline in sales due to CD-ROM tech is an example of problems in which of the following competencies?
Strategic action
What are the sales management competencies?
Strategic action Coaching Team building Self management Technology Global perspective
T/F: A customer far below the breakeven sales volume may be a good candidate for servicing via phone calls, rather than face to face
TRUE
T/F: According to salespeople, telephone interrupters are considered to be the most common time waster
TRUE
Which of the following is NOT considered when calculating the minimum sized customer on which to call?
The growth rate of the customer
What are the three types of account relationships?
Transactional Consultative Enterprise