Question 1

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

Accepted Answer

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

Question 2

Product positioning is largely a function of:

Accepted Answer

A) management 
B) the way the marketing department wishes the product would function 
C) market forces 
D) luck and timing 
E) the way salespeople,with the marketing department,differentiate the product from others in the market 
A) management 
B) the way the marketing department wishes the product would function 
C) market forces 
D) luck and timing 
E) the way salespeople,with the marketing department,differentiate the product from others in the market

Question 3

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

Accepted Answer

A) True 
 B)False

Question 4

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.They will be put on a waitlist for the handbag in the order in which they are received.
-Competing on price is most likely to work with which of the following buyers?

Accepted Answer

A) a high-involvement buyer who values quality and durability 
B) a high-involvement buyer who is willing to research features and performance extensively 
C) a low-involvement buyer who has a tight budget 
D) a low-involvement buyer who is unwilling to go out of a geographic region to purchase 
E) a low-involvement buyer who asks an employee to make the buying decision 
A) a high-involvement buyer who values quality and durability 
B) a high-involvement buyer who is willing to research features and performance extensively 
C) a low-involvement buyer who has a tight budget 
D) a low-involvement buyer who is unwilling to go out of a geographic region to purchase 
E) a low-involvement buyer who asks an employee to make the buying decision

Question 5

One consequence of using low-price tactics will often be lower profits.

Accepted Answer

A) True 
 B)False

Question 6

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.They will be put on a waitlist for the handbag in the order in which they are received.
-How could lowering prices to capture a higher share of the market be a strategic advantage to a company?

Accepted Answer

A) Lowering prices will reduce the company's overall profits,whether they have the largest market share or not. 
B) Lowering prices will allow a company to force its competitors to sell at a lower price that they can afford to,which will drive them into bankruptcy. 
C) A company with the largest share of the market does not have to comply with the same safety regulations and production controls that other companies do. 
D) A company with the largest share of the market is seen as the leader so customers think of it as the default and require less sales effort to close a sale. 
E) A company with the largest share of the market can cut costs and raise prices without the public noticing or switching to competitors. 
A) Lowering prices will reduce the company's overall profits,whether they have the largest market share or not. 
B) Lowering prices will allow a company to force its competitors to sell at a lower price that they can afford to,which will drive them into bankruptcy. 
C) A company with the largest share of the market does not have to comply with the same safety regulations and production controls that other companies do. 
D) A company with the largest share of the market is seen as the leader so customers think of it as the default and require less sales effort to close a sale. 
E) A company with the largest share of the market can cut costs and raise prices without the public noticing or switching to competitors.

Question 7

Research reported in the Harvard Business Review indicates that it is very difficult to build customer loyalty if you are selling only:

Accepted Answer

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

Question 8

Value creation during the transactional sale is considerable.

Accepted Answer

A) True 
 B)False

Question 9

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) create 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) create relationships 
D) sell more units at a lower price 
E) keep sales on an even level

Question 10

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

Accepted Answer

A) True 
 B)False

Question 11

A grain supplier to cattle farmers has developed a grain mixture 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 products would enriched grain most likely be competing most closely with?

Accepted Answer

A) traditional grain mixtures for cattle 
B) grass-fed beef and dairy from grass-fed cows 
C) nutritional supplements for commercial cattle production 
D) organic cattle farmers 
E) plastic pellets sold as cattle feed 
A) traditional grain mixtures for cattle 
B) grass-fed beef and dairy from grass-fed cows 
C) nutritional supplements for commercial cattle production 
D) organic cattle farmers 
E) plastic pellets sold as cattle feed

Question 12

Salespeople can analyze their competitors using a(n):

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 13

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.They will be put on a waitlist for the handbag in the order in which they are received.
-How is this handbag being positioned and differentiated from other handbags similar in manufacturing and look?

Accepted Answer

A) The handbag is being positioned on price. 
B) The handbag is being positioned on exclusivity. 
C) The handbag is being positioned on convenience. 
D) The handbag is being positioned on design. 
E) The handbag is being positioned on versatility. 
A) The handbag is being positioned on price. 
B) The handbag is being positioned on exclusivity. 
C) The handbag is being positioned on convenience. 
D) The handbag is being positioned on design. 
E) The handbag is being positioned on versatility.

Question 14

A value proposition:

Accepted Answer

A) is the set of benefits and values the company promises to deliver to customers to satisfy their needs 
B) is a demand-based model 
C) is best used when customers are ill-informed 
D) is unrelated to the firm's positioning strategy 
E) is derived from the costs of production 
A) is the set of benefits and values the company promises to deliver to customers to satisfy their needs 
B) is a demand-based model 
C) is best used when customers are ill-informed 
D) is unrelated to the firm's positioning strategy 
E) is derived from the costs of production

Question 15

Which of the following statements about pricing policies is 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 usually the most critical factor in the sale of products and services. 
D) Price discounting is a competitive tool available to large numbers of salespeople. 
E) Transactional sales usually rely primarily on personality match between buyer and seller. 
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 usually the most critical factor in the sale of products and services. 
D) Price discounting is a competitive tool available to large numbers of salespeople. 
E) Transactional sales usually rely primarily on personality match between buyer and seller.

Question 16

The positioning process:

Accepted Answer

A) must be continually modified to match customer wants and needs 
B) is a value-added process conducted by the salesperson 
C) means isolating yourself from your competitors 
D) is performed by the customer as part of the buying cycle 
E) should be performed every five years 
A) must be continually modified to match customer wants and needs 
B) is a value-added process conducted by the salesperson 
C) means isolating yourself from your competitors 
D) is performed by the customer as part of the buying cycle 
E) should be performed every five years

Question 17

Products are born,grow up and become mature.In marketing,this process is known as the ________ ________ ________.

Accepted Answer

The answer of Products are born,grow up and become mature.In...

Question 18

When setting professional fees,which of the following is a point to consider?

Accepted Answer

A) harmony 
B) incentives 
C) transportation of goods 
D) value 
E) product life cycle 
A) harmony 
B) incentives 
C) transportation of goods 
D) value 
E) product life cycle

Question 19

Today,the primary goal of the value-added concept is to add value by lowering the price of the product.

Accepted Answer

A) True 
 B)False

Question 20

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

Accepted Answer

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

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

Product positioning is largely a function of:

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

One consequence of using low-price tactics will often be lower profits.

Research reported in the Harvard Business Review indicates that it is very difficult to build customer loyalty if you are selling only:

Value creation during the transactional sale is considerable.

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.

Salespeople can analyze their competitors using a(n):

A value proposition:

Which of the following statements about pricing policies is true?

The positioning process:

Products are born,grow up and become mature.In marketing,this process is known as the .

When setting professional fees,which of the following is a point to consider?

Today,the primary goal of the value-added concept is to add value by lowering the price of the product.

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

Relationship Selling Opportunities in the Information Economy

Evolution of Selling Models That Compliment the Marketing Concept

Creating Value With a Relationship Strategy

Communication Styles: a Key to Adaptive Selling Today

Ethics: the Foundation for Relationships in Selling

Creating Product Solutions

The Buying Process and Buyer Behavior

Developing and Qualifying a Prospect Base

Approaching the Customer With Adaptive Selling

Determining Customer Needs With a Consultative Questioning Strategy

Creating Value With the Consultative Demonstration

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

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

Product positioning is largely a function of:

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

One consequence of using low-price tactics will often be lower profits.

Research reported in the Harvard Business Review indicates that it is very difficult to build customer loyalty if you are selling only:

Value creation during the transactional sale is considerable.

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.

Salespeople can analyze their competitors using a(n):

A value proposition:

Which of the following statements about pricing policies is true?

The positioning process:

Products are born,grow up and become mature.In marketing,this process is known as the ________ ________ ________.

When setting professional fees,which of the following is a point to consider?

Today,the primary goal of the value-added concept is to add value by lowering the price of the product.

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

Relationship Selling Opportunities in the Information Economy

Evolution of Selling Models That Compliment the Marketing Concept

Creating Value With a Relationship Strategy

Communication Styles: a Key to Adaptive Selling Today

Ethics: the Foundation for Relationships in Selling

Creating Product Solutions

The Buying Process and Buyer Behavior

Developing and Qualifying a Prospect Base

Approaching the Customer With Adaptive Selling

Determining Customer Needs With a Consultative Questioning Strategy

Creating Value With the Consultative Demonstration

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

Products are born,grow up and become mature.In marketing,this process is known as the .