Final Exam Study Guide

Question 1

What is the difference between Marketing and Selling?

Answer 1

Marketing - the overall plan for selling (macro)

Selling - actually selling products or services (micro)

Question 2

Name the 7 key areas of a marketing plan (for consultants):

Answer 2

Marketing Plan:

• sales strategy
• sales approach
• pricing
• promotion
• services policies
• guarantees
• tracking methods

Question 3

3 considerations of Sales Strategy:

Answer 3

• commission sales staff, agents, sub-consultants
• sales objectives, sales tools, sales support
• target clients

Question 4

1 consideration of sales approach?

Answer 4

• Style of operation and techniques

Question 5

3 considerations to Pricing?

Answer 5

• costing, mark-ups, margins, break-even

Question 6

2 considerations to Promotion?

Answer 6

• media advertising, promootions, puiblicity appropriate to reach target market
• techniques of developing exposure, credibility, and contacts

Question 7

1 consideration for Service policies?

Answer 7

policies that your consulting practice will adopt with regard to credit and collection, bidding, nature of clients, etc.

Question 8

1 consideration for guarantees:

Answer 8

• services performance gaurantees or other assured will vary depending upon nature of consulting practice and type of contract or client.

Question 9

what is Tracking Methods in regards to a marketing plan?

Answer 9

methods for confirming who your clients are and how they heard about you

Question 10

Checklist 3-2: Preparing for Effective Marketing

What are the 3 important steps in preparing for effective marketing?

Answer 10

• identify your target market in terms of industry, technology, client type, organizational focus and geography
• understand the information serving your target market - publications, government sources, internet, conferences, conventions, trade shows, surveys and networking
• research your market on an ongoing basis - reflect on and review your experiences in the marketplace

Question 11

What is Registration in terms of consulting? What is a RFQ? RFP?

Answer 11

A consultant can register in the government databases for consulting contracts.
R.F.Q. - Request For Qualifications
R.F.P. - Request for Proposal

Question 12

Checklist 3-3: Marketing Tools

List 8 different marketing tools available to consultants?

Answer 12

• Registration
• Advertising
• Articles
• Speeches
• Public Relations
• Brochures and Web Sites
• Networking
• Referrals from Clients and Colleagues

Question 13

1 consideration for Service Policies?

Answer 13

• policies that oyur consulting practice will adopt with regard to credit and collection, bidding, nature of clients, etc.

Question 14

1 consideration for Guarantees in a marketing plan?

Answer 14

services performance guarantees or other assurance will vary depending on nature of consulting practice and type of contract

Question 15

1 consideration for tracking methods:

Answer 15

method for confirming who your clients are and how they heard about you

Question 16

Checklist 3-2: Preparing for Effective Marketing

What are 3 things a consultant should do to prepare for effective marketing?

Answer 16

• identify your target market in terms of industry, technology, client type, organizatioal focus, and geography
• understand the information serving your target market (publications, government sources, internet, conferences, conventions, trade shows, survey and networking)
• research your market on an ongoing basis - reflect and review your experiences in the marketplace.

Question 17

Checklist 3-3: Marketing Tools
List 8 marketing tools:
pg 83 in the text

Answer 17

• Registration
• Advertising
• Articles
• Speeches
• Public Relations
• Brochures and Web Sites
• Networking
• Referrals from Clients and Colleagues

Question 18

Describe the E.P.I.C Process for Proposal Writing:

Answer 18

Exploration - look for R.F.P’s, do cold calls to companies and submit proposals, explore the marketplace
Preparation - Prepare a quality proposal
Implementation - proposal has been accepted, implement the proposal
Conclusion - give deliverables, give recommendations to client

Question 19

What are S.M.A.R.T. Deliverables?

* this will be on the test.

Answer 19

Specific - tell the client what you will give them
Measurable - so the client can see if you delivered what you said you are going to
Achievable - no point telling the client to do something outside their capabilities
Relevant - analyze their problems, should be relevant to them
Timely - in time for the client to use the recommendations effectively

Question 20

What is the M.U.S.H. Sector?

Answer 20

Municipalities, Utilities, Schools, Hospitals. Most of this sector is non-profit and gets funding via the government. The vast majority of work in this sector is through proposal writing.