Exam 7: Product-Selling Strategies That Add Value

Which term refers to the decisions and activities that are intended to create and maintain a certain product concept in the customer's mind?

The authors of The Discipline of Market Leaders encourage business firms to pick one of the disciplines-best price,best product,or best ________ to distinguish their offering in the marketplace.

Today's better educated and more demanding customers are seeking a(n)________ of satisfactions.

What is a potential pitfall for Phil of competing on price instead of developing a partnering relationship with car buyers?

The process of differentiation does which of the following?

A grain supplier to cattle farmers has developed a new grain mixture, Green Grain, with nutritional additives that approximate the nutrient mixture in grass. Farmers who feed their cattle this enriched grain can sell beef and milk that taste similar to grass-fed beef and have many of the nutritional benefits to humans of grass-fed beef or dairy at a significantly lower production cost than actual grass-fed beef or dairy. -Green Grain marketers have established a positioning plan that stresses low price. Salespeople are expected to use transactional selling tactics and offer discounts and allowances to farmers as needed. Which type of discount would most likely be given to a farmer who agrees to put the Green Grain logo on the side of his barn and Green Grain signs along the road near his farm?

When setting professional fees,which of the following should LEAST likely be considered?

Which of the following would most likely help a salesperson to position and differentiate a product as better than other products in the market?

Salespeople at the dealer level can play an important role in positioning an automobile for competitive advantage.

In most cases,the same sales strategy is used to sell a new and an emerging product as is used to sell a mature,well-established product.

If the salesperson does not create a good buying experience for the customer,it could affect the customer's satisfaction with the product.

In recent years, the "fax attack" model of car shopping has become popular. In a "fax attack," a customer sends a fax to every car dealership within a certain radius listing the make and features of the car they would like, along with the price they are willing to pay, and asks dealerships that will match that price to contact the customer. In essence, the customers set both the features and the price for the car. McCall Automotive has experienced a sharp increase in the number of fax attacks, and Phil, the sales manager, is seeking methods for addressing the situation. Phil is also concerned about the dealership's positioning strategies and market share. -Phil believes that the dealership should lower car prices to capture a higher share of the market. Competing on price will most likely work with which of the following car buyers?

Phil has observed that today's car buyers are more knowledgeable than car buyers in the past,primarily due to the Internet. Such car buyers gather information on all aspects of a car,from the manufacturing process to service contracts,and they respond best to a value-added selling strategy. What advice should Phil most likely give to his sales team when they are faced with such knowledgeable buyers?

In recent years, the "fax attack" model of car shopping has become popular. In a "fax attack," a customer sends a fax to every car dealership within a certain radius listing the make and features of the car they would like, along with the price they are willing to pay, and asks dealerships that will match that price to contact the customer. In essence, the customers set both the features and the price for the car. McCall Automotive has experienced a sharp increase in the number of fax attacks, and Phil, the sales manager, is seeking methods for addressing the situation. Phil is also concerned about the dealership's positioning strategies and market share. -How could Phil BEST respond to a"fax attack"and differentiate McCall Automotive positively from other dealerships?

Why is it most likely important to maintain this guest's satisfaction with the hotel and the front desk clerk?

Money that a bank has available for customer loans would be an example of a(n):

Yellow Freight Systems must provide clean,well-maintained trucks and well-trained drivers. This is most likely an example of a(n):

The act of creating a product concept in the customer's mind is called positioning.

A salesperson would most likely use a CRM system to:

In recent years, the "fax attack" model of car shopping has become popular. In a "fax attack," a customer sends a fax to every car dealership within a certain radius listing the make and features of the car they would like, along with the price they are willing to pay, and asks dealerships that will match that price to contact the customer. In essence, the customers set both the features and the price for the car. McCall Automotive has experienced a sharp increase in the number of fax attacks, and Phil, the sales manager, is seeking methods for addressing the situation. Phil is also concerned about the dealership's positioning strategies and market share. -McCall Automotive sells a large number of well-established minivans,such as the Dodge Caravan and Honda Odyssey. Now,the dealership has a new type of vehicle that it must position-a hybrid minivan. What will be the best strategy for positioning the new hybrid minivan?