Question 1

Diversification is a strategy whose goal is growth,based on:

Accepted Answer

A)  selling more of the firm's product or service to the existing customer base. 
B)  selling in areas or to groups previously not served by the business. 
C)  selling existing customers a product or service they have never bought before. 
D)  adding new products or services to the firm's existing collection of offerings. 
A)  selling more of the firm's product or service to the existing customer base. 
B)  selling in areas or to groups previously not served by the business. 
C)  selling existing customers a product or service they have never bought before. 
D)  adding new products or services to the firm's existing collection of offerings.

Question 2

Advertising is often used to support the corporate identity and value propositions that are established through public relations efforts.

Accepted Answer

A) True 
 B)False

Question 3

Follow-up refers to the contacts you periodically make with customers in order to remind them of your business,and your interest in their business.

Accepted Answer

A) True 
 B)False

Question 4

Customer loyalty programs focus on developing a strategy that is based on:

Accepted Answer

A)  selling more of the firm's product or service to the existing customer base. 
B)  selling in areas or to groups previously not served by the business. 
C)  selling existing customers a product or service they have never bought before. 
D)  adding new products or services to the firm's existing collection of offerings. 
A)  selling more of the firm's product or service to the existing customer base. 
B)  selling in areas or to groups previously not served by the business. 
C)  selling existing customers a product or service they have never bought before. 
D)  adding new products or services to the firm's existing collection of offerings.

Question 5

People who receive a promotional impression and who give some thought to buying the product are referred to as _____.

Accepted Answer

A)  sales leads 
B)  qualified leads 
C)  prospects 
D)  target segments 
A)  sales leads 
B)  qualified leads 
C)  prospects 
D)  target segments

Question 6

What is customer relationship management (CRM)? What are the different strategies of CRM?

Accepted Answer

The name for the general approach to kee

Question 7

While closing a sales call,when a sales person says "I'll just need your credit card for payment," he is using the sales closing technique of _____.

Accepted Answer

A)  try-before-you-buy close 
B)  assumptive close 
C)  chances-are close 
D)  urgency close 
A)  try-before-you-buy close 
B)  assumptive close 
C)  chances-are close 
D)  urgency close

Question 8

Which of the following is true of personal selling?

Accepted Answer

A)  It involves activities used to establish and promote a favorable opinion by the media. 
B)  It does not allow you to find out the buyers' main concerns. 
C)  It involves entering into a joint venture with a competitor. 
D)  It allows a business owner to be flexible in his or her presentation. 
A)  It involves activities used to establish and promote a favorable opinion by the media. 
B)  It does not allow you to find out the buyers' main concerns. 
C)  It involves entering into a joint venture with a competitor. 
D)  It allows a business owner to be flexible in his or her presentation.

Question 9

Closing a sale refers to:

Accepted Answer

A)  asking for a referral from a prospective customer. 
B)  being turned down by a prospective customer. 
C)  delaying the decision to make a new product. 
D)  obtaining a commitment from the customer. 
A)  asking for a referral from a prospective customer. 
B)  being turned down by a prospective customer. 
C)  delaying the decision to make a new product. 
D)  obtaining a commitment from the customer.

Question 10

Sales leads who actually make some sort of effort to learn more about the product,service,or business in anticipation of a possible purchase are known as prospects.

Accepted Answer

A) True 
 B)False

Question 11

Personal selling decreases business owners' flexibility in their presentation.

Accepted Answer

A) True 
 B)False

Question 12

Dividing the market into different segments by income,age,or religion constitutes segmenting the market _____.

Accepted Answer

A)  geographically 
B)  economically 
C)  demographically 
D)  culturally 
A)  geographically 
B)  economically 
C)  demographically 
D)  culturally

Question 13

Which of the following is true of promotional novelties?

Accepted Answer

A)  They explain the competitive strategies of the company to the readers. 
B)  They must be large enough to read by passing traffic. 
C)  They include stories of customers whose problems were solved. 
D)  They are given to key customers or as gifts to employees. 
A)  They explain the competitive strategies of the company to the readers. 
B)  They must be large enough to read by passing traffic. 
C)  They include stories of customers whose problems were solved. 
D)  They are given to key customers or as gifts to employees.

Question 14

Which of the following is true of customer retention?

Accepted Answer

A)  It focuses on increasing customers' cognitive dissonance. 
B)  It focuses on satisfying prospective customers to make a sale successful. 
C)  It handles problems that crop up after a sale. 
D)  The CRM aspect of customer retention is based on short-term monitoring of customers. 
A)  It focuses on increasing customers' cognitive dissonance. 
B)  It focuses on satisfying prospective customers to make a sale successful. 
C)  It handles problems that crop up after a sale. 
D)  The CRM aspect of customer retention is based on short-term monitoring of customers.

Question 15

Harry Howard,a successful real estate broker,has established his own real estate company in western Pennsylvania.He has on-the-job experience working at a real estate company where he had a whole staff supporting brokers' work.Now on his own,with two secretaries,Harry is building his dream of owning and growing his own business.He wants to mainly focus on middle-to-upper-income homeowners and is exploring what type of promotional material he needs to have.Which of the following would be the fastest way for Harry to build his client base?

Accepted Answer

A)  Word-of-mouth 
B)  Full-scale advertising 
C)  Personal selling 
D)  Sales promotion 
A)  Word-of-mouth 
B)  Full-scale advertising 
C)  Personal selling 
D)  Sales promotion

Question 16

_____ is a strategy whose goal is growth,based on selling more of the firm's product or service to the existing customer base.

Accepted Answer

A)  Market penetration 
B)  Product expansion 
C)  Market expansion 
D)  Diversification 
A)  Market penetration 
B)  Product expansion 
C)  Market expansion 
D)  Diversification

Question 17

_____ is an electronic equivalent of word-of-mouth advertising.

Accepted Answer

A)  Viral marketing 
B)  Ambush marketing 
C)  Sales promotion 
D)  Trendiness 
A)  Viral marketing 
B)  Ambush marketing 
C)  Sales promotion 
D)  Trendiness

Question 18

Which of the following is true of cognitive dissonance?

Accepted Answer

A)  It is the consistency between experience and belief. 
B)  It happens frequently especially with more expensive items. 
C)  It almost always happens with purchases that are not considered risky. 
D)  It is a doubt that occurs before making a purchase. 
A)  It is the consistency between experience and belief. 
B)  It happens frequently especially with more expensive items. 
C)  It almost always happens with purchases that are not considered risky. 
D)  It is a doubt that occurs before making a purchase.

Question 19

It is nearly impossible to design a message that will appeal universally or to find media that will reach all consumers.

Accepted Answer

A) True 
 B)False

Question 20

Which of the following terms refers to a rule of thumb about how many prospective customers it takes to find one who will actually make a purchase?

Accepted Answer

A)  Lead qualification 
B)  Value proposition 
C)  Marketing funnel 
D)  Segmentation 
A)  Lead qualification 
B)  Value proposition 
C)  Marketing funnel 
D)  Segmentation

Diversification is a strategy whose goal is growth,based on:

Advertising is often used to support the corporate identity and value propositions that are established through public relations efforts.

Follow-up refers to the contacts you periodically make with customers in order to remind them of your business,and your interest in their business.

Customer loyalty programs focus on developing a strategy that is based on:

People who receive a promotional impression and who give some thought to buying the product are referred to as _____.

What is customer relationship management (CRM)? What are the different strategies of CRM?

While closing a sales call,when a sales person says "I'll just need your credit card for payment," he is using the sales closing technique of _____.

Which of the following is true of personal selling?

Closing a sale refers to:

Sales leads who actually make some sort of effort to learn more about the product,service,or business in anticipation of a possible purchase are known as prospects.

Personal selling decreases business owners' flexibility in their presentation.

Dividing the market into different segments by income,age,or religion constitutes segmenting the market _____.

Which of the following is true of promotional novelties?

Which of the following is true of customer retention?

_____ is a strategy whose goal is growth,based on selling more of the firm's product or service to the existing customer base.

_____ is an electronic equivalent of word-of-mouth advertising.

Which of the following is true of cognitive dissonance?

It is nearly impossible to design a message that will appeal universally or to find media that will reach all consumers.

Which of the following terms refers to a rule of thumb about how many prospective customers it takes to find one who will actually make a purchase?

Small Business: Its Opportunities and Rewards

Small Business Entrepreneurs: Characteristics and Competencies

Small Business Environment: Managing External Relations

Small Business Ideas: Creativity, Opportunity, and Feasibility

Small Business Entry: Paths to Part-Time Entrepreneurship

Small Business Entry: Paths to Full-Time Entrepreneurship

Small Business Strategies: Imitation With a Twist

Business Plans: Seeing Audiences and Your Business Clearly

Small Business Marketing: Product and Pricing Strategies

Small Business Distribution and Location

Marketing Plans: Saying How Youll Get Salespart Four: Cash, Accounting, and Finance in the Small Business

Small Business Accounting: Projecting and Evaluating Performance

Cash: Lifeblood of the Business

Small Business Finance: Using Equity, Debt, and Gifts

Assets: Inventory and Operations Management

Small Business Protection: Risk Management and Insurance

Legal Issues: Recognizing Your Small Business Needs

Human Resource Management: Small Business Considerations

Achieving Success in the Small Business

Filters

Exam 10: Small Business Promotion: Capturing the Eyes of Your Market

Diversification is a strategy whose goal is growth,based on:

Advertising is often used to support the corporate identity and value propositions that are established through public relations efforts.

Follow-up refers to the contacts you periodically make with customers in order to remind them of your business,and your interest in their business.

Customer loyalty programs focus on developing a strategy that is based on:

People who receive a promotional impression and who give some thought to buying the product are referred to as _____.

What is customer relationship management (CRM)? What are the different strategies of CRM?

While closing a sales call,when a sales person says "I'll just need your credit card for payment," he is using the sales closing technique of _____.

Which of the following is true of personal selling?

Closing a sale refers to:

Sales leads who actually make some sort of effort to learn more about the product,service,or business in anticipation of a possible purchase are known as prospects.

Personal selling decreases business owners' flexibility in their presentation.

Dividing the market into different segments by income,age,or religion constitutes segmenting the market _____.

Which of the following is true of promotional novelties?

Which of the following is true of customer retention?

_____ is a strategy whose goal is growth,based on selling more of the firm's product or service to the existing customer base.

_____ is an electronic equivalent of word-of-mouth advertising.

Which of the following is true of cognitive dissonance?

It is nearly impossible to design a message that will appeal universally or to find media that will reach all consumers.

Which of the following terms refers to a rule of thumb about how many prospective customers it takes to find one who will actually make a purchase?

Small Business: Its Opportunities and Rewards

Small Business Entrepreneurs: Characteristics and Competencies

Small Business Environment: Managing External Relations

Small Business Ideas: Creativity, Opportunity, and Feasibility

Small Business Entry: Paths to Part-Time Entrepreneurship

Small Business Entry: Paths to Full-Time Entrepreneurship

Small Business Strategies: Imitation With a Twist

Business Plans: Seeing Audiences and Your Business Clearly

Small Business Marketing: Product and Pricing Strategies

Small Business Distribution and Location

Marketing Plans: Saying How Youll Get Salespart Four: Cash, Accounting, and Finance in the Small Business

Small Business Accounting: Projecting and Evaluating Performance

Cash: Lifeblood of the Business

Small Business Finance: Using Equity, Debt, and Gifts

Assets: Inventory and Operations Management

Small Business Protection: Risk Management and Insurance

Legal Issues: Recognizing Your Small Business Needs

Human Resource Management: Small Business Considerations

Achieving Success in the Small Business

Filters