Exam 7: Product-Selling Strategies That Add Value

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

A designer releases her fall line of handbags, including one that retails for $6,000. This bag is a limited edition; only 500 will be produced, and orders will only be accepted from clients who have previously purchased a handbag from the designer. Customers will be put on a waitlist in the order in which the handbag orders are received. -The handbag is finally available to customers on the waitlist.Tanya,who has been on the list for three weeks,picks up the handbag at the designer's store.When she opens the handbag,she finds that a wallet and a belt are included with the handbag,which both surprises and delights Tanya.The designer most likely maximized Tanya's satisfaction by:

Just Candles, a supply house for scented and unscented tapers and other ceremonial candles to houses of worship, restaurants, and other establishments, has experienced a downturn in business in the last two years. Upon investigation, the owner of Just Candles learns that the same candles that they sell are available from online retailers for at least 10% less. The firm will not be able to survive if customers continue purchasing from competing e-retailers. Just Candles maintains a storefront for selling candles but does not provide other services or products. -Which of the following would most likely enable Just Candles to recapture their previous customers and gain new customers?

Which of the following most likely covers transportation costs incurred by channel intermediaries?

The goal of selling strategies for mature and well-established products is to:

Low-involvement buyers care mostly about:

The value-added product exists when salespeople meet the customer's expectation.

Value creation during the transactional sale is considerable.

A front desk clerk at a ReView Hotel receives a call from a ReView Gold Rewards Member guest complaining that the wireless Internet in her room is fading in and out. Without Internet access, she won't be able to make her deadline for this business trip. -What could the desk clerk do to maintain the guest's cluster of satisfactions?

The generic product is the basic,substantive product you are selling.

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

A front desk clerk at a ReView Hotel receives a call from a ReView Gold Rewards Member guest complaining that the wireless Internet in her room is fading in and out. Without Internet access, she won't be able to make her deadline for this business trip. -Why is it most likely important to maintain this guest's satisfaction with the hotel and the front desk clerk?

Pricing decisions are made primarily during the introductory stage of the product life cycle and rarely change.

Which type of price discount would most likely be offered by a ski lodge during the summer months?

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 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 adviceshould Phil most likely give to his sales team when they are faced with such knowledgeable buyers?

A value proposition is best defined as a:

Advertising directed toward a mass market is usually a good way to position a complex product.

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

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

A front desk clerk at a ReView Hotel receives a call from a ReView Gold Rewards Member guest complaining that the wireless Internet in her room is fading in and out. Without Internet access, she won't be able to make her deadline for this business trip. -Abco Realty owns several rental apartment buildings in a working class but safe neighborhood that has recently become popular with young professionals because of its proximity to an express commuter train line.Abco has recently invested in the infrastructure of the buildings,adding laundry rooms,safety features to the lobbies,and new insulated windows to all the units.Because of this,Abco cannot afford to match the unit rental prices of other buildings that have not made improvements. How should the sales manager of Abco Realty most likely differentiate Abco's units from units offered in other buildings?