Midterm

Question 1

Which of the following is NOT a core component of the marketing mix?

Answer 1

Profit

The core components of the marketing mix are Product, Price, and Promotion.

Question 2

The goal of sales is ultimately to:

Answer 2

Generate revenue and build customer relationships

Question 3

Cost of Goods Sold (COGS) represents:

Answer 3

Direct costs of producing goods

Question 4

Which sales strategy focuses on building long-term relationships with customers?

Answer 4

Relationship selling

Question 5

Sales-force intensive organizations typically:

Answer 5

Have a large team of salespeople

Question 6

Ethical behavior in sales is important because it:

Answer 6

All of the above

This includes reducing legal risks, building trust with customers, and enhancing the company’s reputation.

Question 7

A ‘kickback’ in a sales context refers to:

Answer 7

An illegal payment for preferential treatment

Question 8

Building rapport with a customer involves:

Answer 8

Establishing a connection and mutual understanding

Question 9

Sales puffery refers to:

Answer 9

Exaggerated statements about product performance

Question 10

Which act encourages citizens to press claims against vendors who sell fraudulently to the US government?

Answer 10

False Claims Act

Question 11

Organizational buying decisions are typically:

Answer 11

Complex and involve multiple stakeholders

Question 12

Just-in-time inventory management aims to:

Answer 12

Minimize inventory levels

Question 13

Which of the following is NOT a type of customer?

Answer 13

Competitor

Question 14

Product turnover refers to:

Answer 14

How quickly a product sells

Question 15

Government agencies as customers:

Answer 15

Often have complex procurement processes

Question 16

The 80/20 rule in sales suggests that:

Answer 16

80% of sales come from 20% of customers

Question 17

Active listening involves:

Answer 17

Paying close attention and understanding the message

Question 18

Non-verbal communication includes:

Answer 18

Body language and facial expressions

Question 19

Adaptive selling means:

Answer 19

Tailoring your sales approach to individual customer needs

Question 20

Which is NOT a type of sales presentation?

Answer 20

Interrogation

Question 21

A ‘lead’ is:

Answer 21

A qualified potential customer

Question 22

A ‘prospect’ is:

Answer 22

A potential customer who may or may not be qualified

Question 23

Analysis paralysis occurs when:

Answer 23

A salesperson spends too much time analyzing and not enough time selling

Question 24

Sales Call Analysis helps salespeople to:

Answer 24

Identify areas for improvement in their sales approach

Question 25

Systems integrators:

Answer 25

Help businesses choose and implement technology solutions

Question 26

Which of the following is NOT a way to expand customer relationships?

Answer 26

Dissolution

Question 27

Dissolution of a customer relationship can be caused by:

Answer 27

Failing to monitor competitor actions

Question 28

Securing partnerships involves:

Answer 28

Developing mutually beneficial relationships

Question 29

Monitoring after the sale is important because it:

Answer 29

Ensures customer satisfaction and identifies potential issues

Question 30

What is the 3-by-3 strategy?

Answer 30

Having three personal relationships at three levels of the organization

Question 31

Routing in sales refers to:

Answer 31

Planning sales calls to minimize travel time

Question 32

Zoning in sales involves:

Answer 32

Dividing the territory into zones based on ease of travel and concentration of customers

Question 33

Complacency in sales can lead to:

Answer 33

Loss of customers

Question 34

A conversion ratio is calculated by:

Answer 34

Dividing number of sales by number of calls

Question 35

Post-call analysis involves:

Answer 35

Reviewing what happened during the call and planning next steps

Question 36

Which of the following is a characteristic of successful salespeople?

Answer 36

Customer and product knowledge

Question 37

Emotional intelligence in sales involves:

Answer 37

Understanding and managing your own and customers' emotions

Question 38

Which of the following is an example of an implied warranty?

Answer 38

A product that is expected to function as advertised

Question 39

Sales puffery is generally considered:

Answer 39

Ethically questionable but often legal

Question 40

Which of the following is an illegal business practice?

Answer 40

Price discrimination

Question 41

The CAN-SPAM Act aims to:

Answer 41

Reduce deceptive emails

Question 42

Cultural relativism suggests that:

Answer 42

Ethical standards vary across cultures

Question 43

A buying center typically includes:

Answer 43

Multiple individuals with different roles and influences

Question 44

Risk reduction in organizational buying might involve:

Answer 44

Collecting additional information

Question 45

Just-in-time (JIT) inventory systems:

Answer 45

Minimize inventory

Question 46

Supply chain management focuses on:

Answer 46

Efficiently moving products from producer to consumer

Question 47

Supplier relationship management (SRM) involves:

Answer 47

Evaluating and developing partnerships with key suppliers

Question 48

The multiattribute model helps buyers to:

Answer 48

Evaluate products based on different attributes

Question 49

Which social style is described as liking facts, principles, and logic?

Answer 49

Analytical

Question 50

Versatility in selling refers to:

Answer 50

Adapting your sales style to different customers

Question 51

Inside salespeople typically:

Answer 51

Communicate with customers remotely (phone, email)

Question 52

Which is NOT a source of leads?

Answer 52

Competitors' customer lists

Question 53

Lead qualification involves:

Answer 53

Determining if a lead is a good fit for your product/service

Question 54

A lead management system helps to:

Answer 54

Analyze the value of each lead and prioritize follow-up

Question 55

Why might salespeople be reluctant to prospect?

Answer 55

All of the above ## Footnote This includes fear of rejection, time constraints, and lack of confidence.

Question 56

A 'champion' in a buying organization is:

Answer 56

Someone who supports your proposal within the customer's organization

Question 57

Which is NOT a stage of the buyer-seller relationship?

Answer 57

Elimination

Question 58

Cross-selling involves:

Answer 58

Selling related or complementary products

Question 59

Up-selling involves:

Answer 59

Selling a more expensive version of a product

Question 60

'Dissolution' of a customer relationship refers to:

Answer 60

The termination of the relationship

Question 61

Complacency in sales can be avoided by:

Answer 61

Continuously seeking improvement and new opportunities

Question 62

Which is a technique to increase time spent with customers?

Answer 62

Effective routing and scheduling

Question 63

Which is a benefit of using email and telephone for customer contact?

Answer 63

They can be efficient ways to communicate and follow up

Question 64

Activity analysis helps salespeople to:

Answer 64

Evaluate their time management and efficiency

Question 65

Performance analysis focuses on:

Answer 65

Evaluating performance against set goals

Question 66

Productivity analysis involves:

Answer 66

Identifying effective strategies and areas for improvement

Question 67

Which of the following is a potential problem in territory management?

Answer 67

All of the above ## Footnote This includes inadequate coverage, overlapping territories, and high turnover.

Question 68

Routing refers to:

Answer 68

Planning sales calls in a specific order

Question 69

Scheduling refers to:

Answer 69

Sequencing appointments for maximum contact time

Question 70

Account load refers to:

Answer 70

The number of actual and potential customers assigned to a salesperson

Question 71

Account potential refers to:

Answer 71

The share of an account's business a firm can reasonably expect

Question 72

Which of the following is a base used in creating territories?

Answer 72

All of the above ## Footnote This includes Geography, Potential, and Workload.

Question 73

Which of the following is a method of designing sales territories?

Answer 73

All of the above ## Footnote This includes Breakdown method, Incremental method, and Workload (Build Up) method.