Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

Ag Marketing and Sales > Exam 1 > Flashcards

Exam 1 Flashcards

1
Q

List 6 things that are expected of you in AGEC 3323.

A

Be prepared Attend class Be on time Turn in assignments on time Ask if you don’t understand Be professional

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

List two responsibilities sales people owe themselves.

A

Separate professional and personal lives Represent self and company in a professional

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

List three responsibilities sales people owe the customer

A

Serve customers best interest Never misrepresent or mislead the customer Protect Confidences

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

List four main responsibilities sales people owe their company

A

Remain loyal Support total marketing effort Do not downgrade competition Uphold laws and regulations

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

How does ethics fit into sales and life?

A

Major determinant of success and satisfaction Never lie Do what you say you will do

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

What happens without selling?

A

Nothing

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

How do most people view sales and salespeople?

A

As someone who manipulates, pressures, and cajoles someone else into buying something they may not need or want?

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

List six objectives a salesperson should have when dealing with a customer?

A

Sell the customer a value package that they need Help increase the customers profit Build long term profitable relationships Be seen as a consultant rather than a seller Increase the salespersons companies profit Make the customer know that the value packer will benefit them

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

List four competencies salespeople need to carry out their responsibilities

A

Ethics Knowledge Skill Attitude

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

List the 8 steps to the selling process.

A

Prioritize prospects Develop selling strategy and call plan Build relationships Uncover account needs, Opps., and values Present a solution or value bundle Answer questions and overcome objectives Close the sale Follow up to ensure satisfaction

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

When is the sale complete?

A

When the money has been collected

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

What is the equation for a value bundle?

A

Value Bundle = product + salesperson + company

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

What four things help explain a customer’s perceived value of a product?

A

What they want Why they want When they want Where they want

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Why is following-up after the sale important?

A

Make sure the customer is gaining complete benefit from the value bundle Continue to build relationships

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

How does a sales person create value?

A

Help the customer clarify problems, identify solutions, assemble value bundles that solve & meet needs profit. Sales males customers lives better by information and knowledge

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

What are the three types of buyers?

A

Relationship Economic Business

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

List the 9 characteristics of a business buyer.

A

Brief and to the point Facts and research Expertise Organization Appointments Wants full service Comparison shopper Considers value bundle Bottom line results

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

List the 8 characteristics of an economic buyer.

A

Compares prices Considers cost Knows what he needs Not interested in service Demands tailored packages Efficiency oriented Reacts quickly Pragmatic

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

List the 6 characteristics of a relationship buyer.

A

Likes formal contact Likes informal contact Likes to chat Likes full service Trusts info sources he knows May not compare prices

20
Q

List two reasons why people buy things

A

They believe they will gain more than they give up Satisfy emotional and psychological needs

21
Q

What are the 5 steps to the buying decision process?

A

Needs recognition Informal search Examines alternative Choose Post purchase evaluation

22
Q

What is an opinion leader?

A

A customer respected by peers

23
Q

In Agriculture selling, what value counts the most?

A

Perceived value

24
Q

List three sources of perceived value.

A

Economical Functional Psychological

25
Q

Define marketing.

A

Performance of all business activities involved in the flow of goods from production to consumption

26
Q

What is the essence of marketing?

A

Discovering and exploiting opportunities and meeting needs

27
Q

What is the difference in marketing and sales?

A

Marketing: long term adjustments to customer needs overtime, includes goals, strategies, tools to satisfy profitability Sales: short term application of goals, strategies and tools

28
Q

What does marketing define?

A

Who customers are What they need What they want How your products meet needs and wants How services satisfy customers

29
Q

List the 8 components of the Planning and Strategy Process.

A

Mission/vision situation analysis SWOT Marketing objectives Segment target focus Market mix strategies Action plans Measure results

30
Q

Define Plan:

A

List of steps with timing/resources used to achieve objectives and goals

31
Q

Define Strategy:

A

plan(s) in action to achieve an objective

32
Q

What are the four components of a SWOT Analysis?

A

Strengths Weakness Opportunity Threats

33
Q

What is a SWOT analysis?

A

A comparison of a companies strengths, weakness, opportunities and threats against a competitors SWOT.

34
Q

Define segmentation.

A

Organizing potential customers into groups

35
Q

List the5 P’s of marketing.

A

Product Price Promotion Place People

36
Q

Of the five P’s in the marketing mix, which is the only one to bring in money?

A

Price

37
Q

Define Promotion.

A

All actions to communicate with a customer

38
Q

What are action plans?

A

direction on how to accomplish objectives

39
Q

A territory strategy is based on what three things?

A

Analysis of customer needs Local market dynamics Competitive situation based on SWOT

40
Q

Whey should a sales person have written plans and strategies?

A

Increase odds for success Provide direction off actions Maximize use of time

41
Q

Define market penetration.

A

The percentage of customers you are selling to in a given market

42
Q

Define market concentration.

A

Amount of business you are doing with each customer

43
Q

Value is determined by what things?

A

Time Form Place Possession

44
Q

Define the 80-20 rule.

A

80% of your business comes from 20% of your customers

45
Q

What is a key customer segment?

A

A group of customers who are similar in the way they make decisions and have similar needs.

46
Q

John Budd Question.

A

Always be prepared and prepare early.

Ag Marketing and Sales (2 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions