Question 1

In transactional selling,which of the eight steps in the selling process is most important? Why? Which steps may be least important? Why?

Accepted Answer

The presentation is most important,since

Question 2

Explain the concept of customer lifetime value.What are some examples of products or services for which the customer's lifetime value is very close to the value of a single purchase? What are some examples of products or services for which the customer's lifetime value far exceeds the value of a single purchase?

Accepted Answer

Customer lifetime value means the amount

Question 3

Which of the following sales decisions is an example of service dominant logic?

Accepted Answer

A) billing on a net 90 schedule 
B) outsourcing the sales function to cut costs and maximize the sales department budget 
C) pricing to undercut competitors in the market 
D) offering a service contract for an extra fee to create another profit stream 
E) providing a lifetime no-questions-asked replacement warranty on all its products 
A) billing on a net 90 schedule 
B) outsourcing the sales function to cut costs and maximize the sales department budget 
C) pricing to undercut competitors in the market 
D) offering a service contract for an extra fee to create another profit stream 
E) providing a lifetime no-questions-asked replacement warranty on all its products

Question 4

Which of the following is an example of using social capital to help grow a company?

Accepted Answer

A) The HR manager of a company hires new employees to staff a project that will increase revenue by 25%. 
B) The CFO of a company increases the budget of the research and development department so they can create a product that will triple profits in 18 months. 
C) The CTO of a company leads a software engineering team in developing an internal system that will cut corporate expenses by 12% in the first year alone. 
D) The Sales Director of a company institutes a policy requiring all new salespeople to train with a senior salesperson for six months before going out into the field alone. 
E) The CEO of a company asks a friend in the automotive industry to cut a company-wide discount on corporately-leased vehicles that saves the company $500,000 a year. 
A) The HR manager of a company hires new employees to staff a project that will increase revenue by 25%. 
B) The CFO of a company increases the budget of the research and development department so they can create a product that will triple profits in 18 months. 
C) The CTO of a company leads a software engineering team in developing an internal system that will cut corporate expenses by 12% in the first year alone. 
D) The Sales Director of a company institutes a policy requiring all new salespeople to train with a senior salesperson for six months before going out into the field alone. 
E) The CEO of a company asks a friend in the automotive industry to cut a company-wide discount on corporately-leased vehicles that saves the company $500,000 a year.

Question 5

What are the qualities of a good mission statement? Why is a mission statement necessary? What things does a good mission statement do for a company? What elements are not required in a good mission statement?

Accepted Answer

A mission statement summarizes the goals

Question 6

Finding a sustainable competitive advantage is difficult because:

Accepted Answer

A) a company needs a sustainable competitive advantage to succeed in the market 
B) market penetration makes sustaining an advantage difficult 
C) many advantages (product and low price)can be mimicked by other companies 
D) it is easier for a company to focus on sales than on service 
E) it is a key component of a strategic plan for any business 
A) a company needs a sustainable competitive advantage to succeed in the market 
B) market penetration makes sustaining an advantage difficult 
C) many advantages (product and low price)can be mimicked by other companies 
D) it is easier for a company to focus on sales than on service 
E) it is a key component of a strategic plan for any business

Question 7

How many steps are there in the selling process? List each step,and briefly describe what that step entails and why it is important.

Accepted Answer

There are eight steps in the selling pro

Question 8

Which of the following is a way a company can expand into markets in a foreign country without opening another facility in that country?

Accepted Answer

A) moving its manufacturing plant to that country 
B) outsourcing customer service representatives to that country 
C) forming a partnership with a dealer in that country to distribute and service products 
D) changing the labeling on its packaging to include instructions in foreign languages 
E) hiring a consultant to help import parts from that country 
A) moving its manufacturing plant to that country 
B) outsourcing customer service representatives to that country 
C) forming a partnership with a dealer in that country to distribute and service products 
D) changing the labeling on its packaging to include instructions in foreign languages 
E) hiring a consultant to help import parts from that country

Question 9

High-performance selling and a company culture of high ethics are at odds with one another.

Accepted Answer

A) True 
 B)False

Question 10

A company's mission statement may or may not mention the product(s)the company makes.This is because:

Accepted Answer

A) mission statements are generic across all industries 
B) mission statements are deliberately vague so they inspire all customers equally 
C) the mission statement is not the list of objectives or the action plan that discusses specific products 
D) the mission statement is written by managers who are not familiar with all the products 
E) the mission statement is an internal document only and does not need to list products 
A) mission statements are generic across all industries 
B) mission statements are deliberately vague so they inspire all customers equally 
C) the mission statement is not the list of objectives or the action plan that discusses specific products 
D) the mission statement is written by managers who are not familiar with all the products 
E) the mission statement is an internal document only and does not need to list products

Question 11

Buyers can be grouped by how they make decisions.

Accepted Answer

A) True 
 B)False

Question 12

The sales process,a standard eight-step plan of action,creates a:

Accepted Answer

A) series of events in which the buyer commits to the salesperson several times 
B) series of presentations on the features of the product 
C) chain of opportunities for the salesperson to ask for money 
D) method that ensures that the buyer will purchase a product 
E) method that requires salespeople to do more research than necessary 
A) series of events in which the buyer commits to the salesperson several times 
B) series of presentations on the features of the product 
C) chain of opportunities for the salesperson to ask for money 
D) method that ensures that the buyer will purchase a product 
E) method that requires salespeople to do more research than necessary

Question 13

Implementation and follow-up after the sale is made is a key step in the sales process for all of the following reasons EXCEPT:

Accepted Answer

A) to make sure that the customer's experience with the product is positive 
B) to provide training in proper use of the product 
C) to set the salesperson apart from competitors 
D) to charge a fee for follow-up to increase revenue 
E) to gain repeat business from current customers 
A) to make sure that the customer's experience with the product is positive 
B) to provide training in proper use of the product 
C) to set the salesperson apart from competitors 
D) to charge a fee for follow-up to increase revenue 
E) to gain repeat business from current customers

Question 14

Which of the following is NOT an issue in transactional sales?

Accepted Answer

A) The goal is to get the sale completed as soon as possible. 
B) The buyer and the salesperson do not form a long-term relationship. 
C) The buyer does not need much assistance in making the decision to buy. 
D) The product is customizable for each buyer depending on the buyer's needs. 
E) The salesperson succeeds by making as many calls as possible. 
A) The goal is to get the sale completed as soon as possible. 
B) The buyer and the salesperson do not form a long-term relationship. 
C) The buyer does not need much assistance in making the decision to buy. 
D) The product is customizable for each buyer depending on the buyer's needs. 
E) The salesperson succeeds by making as many calls as possible.

Question 15

Enterprise selling requires a partnership between:

Accepted Answer

A) a salesperson and a buyer 
B) a selling organization and a buyer 
C) a selling organization and a buying organization 
D) a fulfillment department and a buying organization 
E) a salesperson and an oversight group 
A) a salesperson and a buyer 
B) a selling organization and a buyer 
C) a selling organization and a buying organization 
D) a fulfillment department and a buying organization 
E) a salesperson and an oversight group

Question 16

Quotas can be set for individual salespeople as well as for larger groups such as regional or divisional offices.

Accepted Answer

A) True 
 B)False

Question 17

All of the following are skills a sales manager must be able to perform EXCEPT:

Accepted Answer

A) figuring out how to motivate different people 
B) helping employees improve their performances 
C) formulating strategies for others to implement 
D) advocating on behalf of the sales department to other departments 
E) leading the department in selling a personal quota 
A) figuring out how to motivate different people 
B) helping employees improve their performances 
C) formulating strategies for others to implement 
D) advocating on behalf of the sales department to other departments 
E) leading the department in selling a personal quota

Question 18

What are the four statements of the FEBA approach? Describe each statement.During which step of the sales process is FEBA used? What is one advantage of using the FEBA approach?

Accepted Answer

Explain the features,give evidence that

Question 19

Consultative selling is most appropriate in a situation in which:

Accepted Answer

A) the salesperson has the ability to discount the price of the product without a manager's approval 
B) the salesperson has enough experience in the industry to understand the buyer's situation 
C) the buyer is prepared to place a bulk order 
D) the buyer has less money to purchase than the list price of the product 
E) the buyer needs a simple product to fit a straightforward need 
A) the salesperson has the ability to discount the price of the product without a manager's approval 
B) the salesperson has enough experience in the industry to understand the buyer's situation 
C) the buyer is prepared to place a bulk order 
D) the buyer has less money to purchase than the list price of the product 
E) the buyer needs a simple product to fit a straightforward need

Question 20

Which of the following is a determination made by a sales executive during the process of organizing?

Accepted Answer

A) How to market a particular product 
B) How to implement a sales plan 
C) Which type of sales force to use for each product 
D) Whether to outsource the shipping department 
E) What the quotas should be for the sales department 
A) How to market a particular product 
B) How to implement a sales plan 
C) Which type of sales force to use for each product 
D) Whether to outsource the shipping department 
E) What the quotas should be for the sales department

In transactional selling,which of the eight steps in the selling process is most important? Why? Which steps may be least important? Why?

Which of the following sales decisions is an example of service dominant logic?

Which of the following is an example of using social capital to help grow a company?

What are the qualities of a good mission statement? Why is a mission statement necessary? What things does a good mission statement do for a company? What elements are not required in a good mission statement?

Finding a sustainable competitive advantage is difficult because:

How many steps are there in the selling process? List each step,and briefly describe what that step entails and why it is important.

Which of the following is a way a company can expand into markets in a foreign country without opening another facility in that country?

High-performance selling and a company culture of high ethics are at odds with one another.

A company's mission statement may or may not mention the product(s)the company makes.This is because:

Buyers can be grouped by how they make decisions.

The sales process,a standard eight-step plan of action,creates a:

Implementation and follow-up after the sale is made is a key step in the sales process for all of the following reasons EXCEPT:

Which of the following is NOT an issue in transactional sales?

Enterprise selling requires a partnership between:

Quotas can be set for individual salespeople as well as for larger groups such as regional or divisional offices.

All of the following are skills a sales manager must be able to perform EXCEPT:

What are the four statements of the FEBA approach? Describe each statement.During which step of the sales process is FEBA used? What is one advantage of using the FEBA approach?

Consultative selling is most appropriate in a situation in which:

Which of the following is a determination made by a sales executive during the process of organizing?

The Sales Function and Multi-Sales Channels

Leadership and the Sales Executive

Ethics,the Law,and Sales Leadership

Business-To-Business B2bsales and Customer Relationship Management

Leveraging Information Technologies

Designing and Organizing the Sales Force

Recruiting and Selecting the Right Salespeople

Training and Developing the Sales Force

Supervising,managing,and Leading Salespeople

Setting Goals and Managing the Sales Forces Performance

Motivating and Rewarding Salespeople

Turning Customer Information Into Sales Knowledge

Assessing the Performance of the Sales Force and the People Who Comprise It

Internal and External Cultural Forces

Filters

Exam 1: Introduction to Sales Management

In transactional selling,which of the eight steps in the selling process is most important? Why? Which steps may be least important? Why?

Which of the following sales decisions is an example of service dominant logic?

Which of the following is an example of using social capital to help grow a company?

What are the qualities of a good mission statement? Why is a mission statement necessary? What things does a good mission statement do for a company? What elements are not required in a good mission statement?

Finding a sustainable competitive advantage is difficult because:

How many steps are there in the selling process? List each step,and briefly describe what that step entails and why it is important.

Which of the following is a way a company can expand into markets in a foreign country without opening another facility in that country?

High-performance selling and a company culture of high ethics are at odds with one another.

A company's mission statement may or may not mention the product(s)the company makes.This is because:

Buyers can be grouped by how they make decisions.

The sales process,a standard eight-step plan of action,creates a:

Implementation and follow-up after the sale is made is a key step in the sales process for all of the following reasons EXCEPT:

Which of the following is NOT an issue in transactional sales?

Enterprise selling requires a partnership between:

Quotas can be set for individual salespeople as well as for larger groups such as regional or divisional offices.

All of the following are skills a sales manager must be able to perform EXCEPT:

What are the four statements of the FEBA approach? Describe each statement.During which step of the sales process is FEBA used? What is one advantage of using the FEBA approach?

Consultative selling is most appropriate in a situation in which:

Which of the following is a determination made by a sales executive during the process of organizing?

The Sales Function and Multi-Sales Channels

Leadership and the Sales Executive

Ethics,the Law,and Sales Leadership

Business-To-Business B2bsales and Customer Relationship Management

Leveraging Information Technologies

Designing and Organizing the Sales Force

Recruiting and Selecting the Right Salespeople

Training and Developing the Sales Force

Supervising,managing,and Leading Salespeople

Setting Goals and Managing the Sales Forces Performance

Motivating and Rewarding Salespeople

Turning Customer Information Into Sales Knowledge

Assessing the Performance of the Sales Force and the People Who Comprise It

Internal and External Cultural Forces

Filters