Question 1

A salesperson would most likely use a CRM system to:

Accepted Answer

A) categorize commission rates 
B) qualify potential sales leads 
C) file corporate bank records 
D) monitor competitors' customers 
E) send product information to customers 
A) categorize commission rates 
B) qualify potential sales leads 
C) file corporate bank records 
D) monitor competitors' customers 
E) send product information to customers

Question 2

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

Accepted Answer

The answer of Today's better educated and more demanding customers...

Question 3

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

Accepted Answer

A) True 
 B)False

Question 4

Which of the following statements about pricing policies is most likely true?

Accepted Answer

A) Very few companies maintain a pricing strategy that focuses on meeting competition. 
B) Pricing strategies often reflect the opinion of the research department on correct pricing. 
C) The ability to offer the lowest price is the most critical factor in the sale of products. 
D) Price discounting is a competitive tool available to large numbers of salespeople. 
E) Transactional sales rely primarily on personality alignment between buyers and sellers. 
A) Very few companies maintain a pricing strategy that focuses on meeting competition. 
B) Pricing strategies often reflect the opinion of the research department on correct pricing. 
C) The ability to offer the lowest price is the most critical factor in the sale of products. 
D) Price discounting is a competitive tool available to large numbers of salespeople. 
E) Transactional sales rely primarily on personality alignment between buyers and sellers.

Question 5

Value creation investments are the highest in:

Accepted Answer

A) strategic alliance sales 
B) transactional sales 
C) generic sales 
D) consultative sales 
E) collaborative sales 
A) strategic alliance sales 
B) transactional sales 
C) generic sales 
D) consultative sales 
E) collaborative sales

Question 6

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.
-Which product-selling strategy would most likely be LEAST effective for selling Green Grain?

Accepted Answer

A) focusing on creating new markets 
B) developing new expectation levels 
C) establishing new standards 
D) stressing brand superiority 
E) changing habits 
A) focusing on creating new markets 
B) developing new expectation levels 
C) establishing new standards 
D) stressing brand superiority 
E) changing habits

Question 7

Research reported in the Harvard Business Review indicates that it is very difficult to build customer loyalty if a firm is selling only the ________ product.

Accepted Answer

A) generic 
B) expected 
C) potential 
D) value-added 
E) sales 
A) generic 
B) expected 
C) potential 
D) value-added 
E) sales

Question 8

The positioning process:

Accepted Answer

A) must be continually modified to match customer wants and needs 
B) is a fixed value-added process conducted by the salesperson 
C) involves isolation from the competition 
D) is performed by the customer in the buying cycle 
E) should be performed every five years 
A) must be continually modified to match customer wants and needs 
B) is a fixed value-added process conducted by the salesperson 
C) involves isolation from the competition 
D) is performed by the customer in the buying cycle 
E) should be performed every five years

Question 9

Salespeople can benefit from viewing every product as being four-dimensional.List the four "possible" products.

Accepted Answer

1.Generic product
2.

Question 10

A value proposition is best defined as a:

Accepted Answer

A) set of benefits a firm promises to deliver to satisfy customer needs 
B) demand-based model for structuring the marketing mix 
C) strategy for aligning features and prices 
D) firm's international positioning strategy 
E) function of long term production costs 
A) set of benefits a firm promises to deliver to satisfy customer needs 
B) demand-based model for structuring the marketing mix 
C) strategy for aligning features and prices 
D) firm's international positioning strategy 
E) function of long term production costs

Question 11

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

Accepted Answer

A) cost-benefit analysis worksheet 
B) ROI calculator 
C) competitive analysis worksheet 
D) analysis regression 
E) statistical model 
A) cost-benefit analysis worksheet 
B) ROI calculator 
C) competitive analysis worksheet 
D) analysis regression 
E) statistical model

Question 12

People buy products if they fulfill a problem-solving need.

Accepted Answer

A) True 
 B)False

Question 13

Potential products are more likely to be developed by salespeople who regularly interact with customers.

Accepted Answer

A) True 
 B)False

Question 14

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

Accepted Answer

A) True 
 B)False

Question 15

Mature and well-established products are usually characterized by intense competition as new brands enter the market.

Accepted Answer

A) True 
 B)False

Question 16

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 be a value-added strategy that could boost sales for Just Candles?

Accepted Answer

A) eliminating most candle sizes to focus on only tapers 
B) visiting commercial customers to give them product brochures 
C) offering classes for new customers on decorating with candles 
D) lowering prices on all taper candles to compete with e-retailers 
E) selling to customers in the local area using a mass marketing campaign 
A) eliminating most candle sizes to focus on only tapers 
B) visiting commercial customers to give them product brochures 
C) offering classes for new customers on decorating with candles 
D) lowering prices on all taper candles to compete with e-retailers 
E) selling to customers in the local area using a mass marketing campaign

Question 17

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:

Accepted Answer

A) using a value-pricing strategy 
B) meeting customer requirements 
C) selling a value-added product 
D) creating a potential product 
E) providing the expected product 
A) using a value-pricing strategy 
B) meeting customer requirements 
C) selling a value-added product 
D) creating a potential product 
E) providing the expected product

Question 18

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?

Accepted Answer

A) dealer allowance 
B) trade discount 
C) seasonal discount 
D) promotional allowance 
E) functional discount 
A) dealer allowance 
B) trade discount 
C) seasonal discount 
D) promotional allowance 
E) functional discount

Question 19

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

Accepted Answer

A) change buying habits 
B) build desire for the product 
C) maintain customer relationships 
D) sell more units at a lower price 
E) keep sales on an even level 
A) change buying habits 
B) build desire for the product 
C) maintain customer relationships 
D) sell more units at a lower price 
E) keep sales on an even level

Question 20

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

Accepted Answer

A) True 
 B)False

A salesperson would most likely use a CRM system to:

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

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

Which of the following statements about pricing policies is most likely true?

Value creation investments are the highest in:

Research reported in the Harvard Business Review indicates that it is very difficult to build customer loyalty if a firm is selling only the ________ product.

The positioning process:

Salespeople can benefit from viewing every product as being four-dimensional.List the four "possible" products.

A value proposition is best defined as a:

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

People buy products if they fulfill a problem-solving need.

Potential products are more likely to be developed by salespeople who regularly interact with customers.

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

Mature and well-established products are usually characterized by intense competition as new brands enter the market.

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

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

Relationship Selling Opportunities in the Information Economy

Evolution of Selling Models That Compliment the Marketing Concept

Ethics: the Foundation for Partnering Relationships That Create Value

Creating Value With a Relationship Strategy

Communication Styles: A Key to Adaptive Selling Today

Creating Product Solutions

The Buying Process and Buyer Behavior

Developing and Qualifying Prospects and Accounts

Approaching the Customer With Adaptive Selling

Determining Customer Needs With a Consultative Questioning Strategy

Creating Value With the Consultative Presentation

Negotiating Buyer Concerns

Adapting the Close and Confirming the Partnership

Servicing the Sale and Building the Partnership

Opportunity Management: The Key to Greater Sales Productivity

Management of the Sales Force

Filters

Exam 7: Product-Selling Strategies That Add Value

A salesperson would most likely use a CRM system to:

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

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

Which of the following statements about pricing policies is most likely true?

Value creation investments are the highest in:

Research reported in the Harvard Business Review indicates that it is very difficult to build customer loyalty if a firm is selling only the ________ product.

The positioning process:

Salespeople can benefit from viewing every product as being four-dimensional.List the four "possible" products.

A value proposition is best defined as a:

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

People buy products if they fulfill a problem-solving need.

Potential products are more likely to be developed by salespeople who regularly interact with customers.

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

Mature and well-established products are usually characterized by intense competition as new brands enter the market.

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

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

Relationship Selling Opportunities in the Information Economy

Evolution of Selling Models That Compliment the Marketing Concept

Ethics: the Foundation for Partnering Relationships That Create Value

Creating Value With a Relationship Strategy

Communication Styles: A Key to Adaptive Selling Today

Creating Product Solutions

The Buying Process and Buyer Behavior

Developing and Qualifying Prospects and Accounts

Approaching the Customer With Adaptive Selling

Determining Customer Needs With a Consultative Questioning Strategy

Creating Value With the Consultative Presentation

Negotiating Buyer Concerns

Adapting the Close and Confirming the Partnership

Servicing the Sale and Building the Partnership

Opportunity Management: The Key to Greater Sales Productivity

Management of the Sales Force

Filters