2016 Ag Sales Flashcards

1
Q

Leroy has explained to his sales manager that Mr. Smith is very elusive and avoids
appointments. He has successfully evaded Leroy and several other sales people from the
company. Mr. Smith would be a very big account. Recently, Leroy learned from one of his
current customers that Mr. Smith is an avid collector of Ford Thunderbirds. So Leroy looked up
the names and meeting times of all of the “thunderbird clubs” in town and began attending
their meetings during the evening. Eventually, he encountered Mr. Smith and got an
appointment. This is an elaborate example of which of the following sales techniques? (4pts)
CS.02.04.02.C
a. goal-setting
b. sales strategy
c. wasting time
d. human interest

A

B

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2
Q
  1. Young sales people often have a hard time understanding that they should know as much
    about their customer’s business as possible. One agribusiness sales person often checks
    commodity prices several times a day. (3pts) ABS.01.01.01C
    a. He is watching his investments.
    b. Wants to know impact of commodity supply and demand on customer’s cost
    structure.
    c. Wants to be able to anticipate “price” moves that will impact his company.
    d. Just following a hobby.
A

B

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3
Q
  1. Credit is… (4pts) ABS.04.01.01B
    a. only for banks to grant.
    b. never offered to a customer by a sales person.
    c. providing product to a proven customer to be paid at a specific date.
    d. a way of providing product to a customer who cannot afford it
A

C

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4
Q

As a sales person, what is a method you can use to help maintain relationships with your
customers. (4pts) ABS.06.05.01B
a. follow-up with customers
b. product summary
c. payment collection
d. establish features and benefits of your product

A

A

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5
Q

Costco (trademark) discount stores have a simple pricing system. They price all products as
follows: “cost + 15% = price.” (3pts) ABS.04.01.02B; ABS.04.01.02B
a. this is their competitive advantage
b. this is their comparative advantage
c. this sets their product margin
d. none of the abovE

A

C

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6
Q

Sales people are important to a corporate enterprise because… (4pts) CS.02.05.03C;
CS.03.01.03C
a. someone has to take product orders
b. no product ever sold itself
c. someone has to discover how the external economy is going
d. someone has to develop golf skills to represent the company

A

B

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7
Q

A good product demonstration often involves… (3pts) CS.02.02.02C
a. a professional sales approach
b. a well-rehearsed presentation
c. showmanship
d. all of the above

A

D

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8
Q
  1. Not all customers or potential customers play fair or by the rules of the game. Some
    customers are inclined to use or manipulate young sales people. Which of the following is an
    example of the “dirty” tricks customers can use? (4pts) CS.02.04.02C
    a. free consulting request before a sale will be granted
    b. asking questions during the sales demonstration
    c. giving and objection during the sales call
    d. all of the above
    e. none of the above
A

A

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9
Q
  1. A cold sales call is always a challenge for a sales person; the task is not easier when it is
    done by telephone. When talking to the potential customer on the telephone, you should…
    (4pts)ABS.06.03.01B; ABS.06.05.02C; CS.03.01.03C
    a. make a personal appointment as quickly as possible.
    b. know what you want to say and listen to responses to guide your presentation.
    c. know what you want to say and don’t allow yourself to be distracted during call.
    d. know your product and match it to person’s needs.
A

B

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10
Q

Sometimes you plan your sales approach with a new customer to efficiently use the time
she has promised you; however, circumstances intervene and you discover that you have to
make an “elevator pitch.” This means…in the time it takes an elevator to go from first to fourth
floor…what should you do with the time available…(4pts)CS.01.01.03C; CS.02.02.02C;
CS.02.05.03C
a. talk as fast as possible, to get your thoughts in
b. settle on who you are and why you are there
c. settle on who you are and what you can do for her company
d. all of the above

A

C

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11
Q

good salesperson should always be aware of events that may impact sales. For example,
recently the cost of shipping corn was less expensive when shipped from South America to the
Mid-western United States than from the Southern states in the U.S. This is example of…(3pts)
A. Excess Supply
B. Excess Demand

A

A

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12
Q

Shall I start to write the order?” Is an example of… (3pts)ABS.06.05.03C; CS.01.01.03C
a. a sneaky approach
b. a summary close
c. an open-ended question
d. a trial close

A

D

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13
Q

Harold Parr, a farm equipment sales representative, eagerly signs up to participate in the
local agricultural association’s golf tournament. This activity is viewed by his sales manager as…
(3pts)CS.02.02.01C; CS.02.04.02C; CS.02.05.03C
a. self-improvement
b. prospecting
c. cold call opportunity
d. a waste of time

A

B

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14
Q

The material you purchase at a Tractor Supply store is very similar to what could be
purchased at a Home Depot store; however, Tractor Supply “prides” itself in providing all the
equipment and supplies for people who know what they are doing, as opposed to do-it-
yourselfers. This is an example of… (4pts)ABS.06.03.01B; ABS.06.01.01A; ABS.06.02.01C
a. niche marketing/merchandising—“know your customer.”
b. inventory expansion – “know your customer.”
c. cost cutting – “help your customer.”
d. sales inflation – “who is our customer?”

A

A

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15
Q
  1. Cheyenne’s company merged with another agriculture company and after the most recent
    sales meeting her new manager praised her for exceeding her quarterly sales objective and
    expressed a desire for her to expand the market for the new products that will be available
    from the merger. Cheyenne is one of the best sales people in her region. She decides to act on
    the suggestion of her manager. (4pts)ABS.06.03.01B; CS.02.05.03C; CS.01.03.04B
    a. She is going to use the opportunity provided by the merger to set a new sales strategy
    b. She is not going to use the opportunity provided by the merger and will continue to
    exceed her sales goals with current products.
    c. She is going to look for a new job because her work load has increased.
    d. She has experienced this situation before and will “wait and see.”
A

A

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16
Q

Madison recently had her sales territory expanded. One evening she looked at last year’s
sales for each of her customers (new and old) and discovered that the “80/20 rule” was
evident. This meant that 80% of her sales came from 20% of her customers. She will pay special
attention to their needs. However, her problem is what to do with the other 80% of her
customers. This is an example of…(3pts)CS.02.03.03C; CS.02.04.02C; CS.01.01.03C
a. Ignoring people who are wasting your time.
b. Carrying on with your sales territory.
c. Qualifying her customers by sales potential.
d. Hiring a sales consultant to review data

A

C

17
Q

It is a standard axiom in sales that “one does not speak poorly of competitors.” Why?
(4pts)CS.02.02.02C; CS.02.02.03C; ABS.02.02.02C
a. You may be offered a job by one of them
b. It reflects more on you as a person than your competitors
c. They don’t care what you say about them
d. Your product is always superior

A

B

18
Q

Buyer’s remorse” is an example of what phenomenon? (3pts)ABS.06.05.03C;
ABS.06.05.01B; CS.03.01.03C
a. Sticker Shock
b. Presale apprehension
c. Denial of loan
d. Post-sale reaction

A

D

19
Q
  1. The features-benefits sales presentation is… (4pts)CS.03.01.03C; ABS.06.05.02C;
    CS.02.02.02C
    a. an exhaustive list of product components
    b. a matching list of positives and negatives of your product and competitors
    c. a tailored list matched to customer’s needs
    d. a comprehensive list of components and customer needs
A

C

20
Q

Awareness of business principles is important for all employees, especially people in sales
because they often have a direct measurement of some business standards. For example, a
concept of return on investment for a sales person would be… (4pts)ABS.04.01.03A
a. sales revenue is greater than sales person’s salary + benefits + training costs
b. sales revenue is greater than cost of product + marketing + distribution costs
c. sales profits exceed costs
d. return on investment is less than cost of capital

A

A