Ch 2

Question 1

(T/F) Target marketing refers to the selection and prioritizing of segments to which the company will market its products or services.

Answer 1

True

Question 2

(T/F) The first step in developing a go-to-market strategy is to segment the market.

Answer 2

True

Question 3

(T/F) Many sales forces are taking-on a bigger role in identifying new product opportunities for their companies.

Answer 3

True

Question 4

(T/F) A consultative relationship is likely to differ from a transactional relationship in that success depends more on intimately grasping a customer’s current business issues.

Answer 4

True

Question 5

T/F: One method for creating value in a consultative relationship is for the seller to help the customer develop a better solution to their problems than they would have discovered on their own.

Answer 5

True

Question 6

T/F: For a consultative relationship to be profitable for the supplier, it usually must be a long-term relationship.

Answer 6

True

Question 7

Focusing your product on a special part of the market is an example of:

Answer 7

Target Marketing

Question 8

Identifying customers with common needs is always a part of:

Answer 8

Segmenting

Question 9

Market segmentation involves aggregating customers into groups that:

Answer 9

Have similar needs

Question 10

Developing a plan for how you want your customers to perceive your product is referred to as:

Answer 10

Positioning

Question 11

Which of the following are commonly performed by independent sales agents?

Answer 11

Prospecting for new customers