Midterm Flash Cards
T of F? Selling camping gear through catalogs ti Sierra Club member and other outdoors people is an example of place utility.
True
T or F? “Buy one get one free.” This is an example of distribution.
False
T or F? People who share similar needs and wants and who are willing and able to purchase your products are called a market.
True
T or F? Time utility is having a product available at a certain time of day or convenient time of year.
True
T or F? In business, a marketing concept will list information such as ethnic background, age, income level, and geographic location.
False
T or F? An example of possession utility for products is when retailers offer their customers installment or layaway plans.
False
T of F? The marketing mix (4 P’s) are product, price, place, and planning .
False
T or F? Both goods and services are tangible items.
False
T of F? Marketing is a process that remains the same and never changes.
False
T or F? Informing, persuading, or reminding potential customers about a product or service is called promotion.
True
The owner of a miniature golf business provides her customers with what? a promotion, form utility, information utility a service
A service
What economic utility increased when fast food restaurants began accepting credit cards? possession utility form utility information utility place utility
Possession utility
At the end of her one-week stay at a luxury hotel. Jennifer completed a form rating the hotel's service, food, and accommodations. This is an example of what marketing tool? Product Planning Information utility market research marketing mix
Market Research
Which of the following utilities is not directly related to marketing? information utility form utility place utility possession utility
Form utility
After watching Saturday morning cartoons, Bobby asked his mom to buy him Honey Nut Cheerios. According to the text Bobby is considered.... A customer a consumer a target market a possession utility
consumer
During the last three months of the year, a grocery store stocks its shelves with plenty of canned pumpkin in order to increase the pumpkin’s ______ utility.
Time
Informing, Persuading, or reminding potential customers about a product or service is called ______.
promotion
The employees of a home improvement warehouse are expert craft people who enjoy giving their customers advice about do-it-yourself projects. The employees’ advice increases the _______ utility of their goods.
information
Birthday Bears Inc. (a manufacturer of stuffed animals) has just received an order for 1,000 units form Unique Gifts (a gift store in the mall). This is an example of a(n)
____________ market.
Industrial
Transforming old glass bottles into beautiful new sculptures is an example of ___________ utility.
Form
Shopping at Target and using your Target debit card to save 5% off of your purchase is a function of _______.
Pricing
After conducting market research, Whole Breads Inc. decides to introduce a new low carb muffin to increase their sales. What basic marketing strategy applies? ____.
Product/Service management
Providing customers with goods and services they want.
Selling
The added value of a product in economic terms.
utility
Planning, promoting, and distributing products.
Marketing
Percentage of total sales generated by competing companies
Market share
A customer purchases four tables for $140.00 each and would like them to be delivered. Your company charges $80.00 for delivery and the state imposes 5.5% sales tax on furniture, but not on the delivery charge. What is the total amount due from the customer?
$670.80
In a B-to-B transaction, the seller offers the buyer a 4.5% discount for paying a bill early. Assuming the buyer took advantage of this offer, how much would be discounted on a $9,600 invoice? What is the amount the buyer would pay?
Discount- $432
Total Payed- $9,168
T or F? The number one rule when speaking to clients or customers is to show respect.
True
T or F? Companies can help prevent conflict by creating a healthy atmosphere in which everyone is accepted despite differences in beliefs, values, and backgrounds.
True
T or F? According to the text book, most of your success in the marketing world will be determined by your goal-setting ability.
False
T or F? Before a team can begin to act together, its members must first assign roles for each member.
False
T or F? Telling the truth, maintaining confidentiality, and not spreading rumors are parts of honest behavior.
True
Employment laws forbid discrimination due to gender, age, religion, or national origin. This expectation falls under what heading? equity negotiation values respect
Equity
When team members meet together to give feedback to individual performance, what are they participating in? shared responsibility leadership consensus goals
Leadership
George is an engineer with a national car manufacturer. George's colleagues value his ability to come up with new ways of doing things and to find solutions to seemingly impossible problems. What personality trait do George's colleagues admire? Then, explain how George showed initiative in this scenario? initiative goal setting integrity creativity
Creativity/ Instead of complaining and quitting, George strived to find ways to solve the problem when other employees probably would have slacked off.
What interpersonal skill is specifically needed for success in dealing with customers? Then, explain how would you handle an upset customer. set goals give directions manage time maintain control
Maintain control/ Take the customer aside and ask what the problem is. Depending on the size of the problem, you need to tell someone under you to do it, do it yourself, or contact your manager.
As an employee, knowing all parts of a job is considered what? Also, explain two benefits of cross training. business policy role play teamwork cross training
Cross training/ If someone can’t come to work and backs out last minute, the other employees can fill in, and also, if you are a candidate for a promotion, but your new job would be slightly different, you can still be trained for that job and have an advantage that other people don’t have.
How you perceive yourself as a person
Self-esteem
A decision in which every member agrees
Consensus
_________ allows you to adapt to changing circumstances
Flexibility
Standing up for what you believe in is known as ______.
Assertiveness
The idea that everyone has equal rights and opportunities
Equity
Understanding a person’s situation or frame of mind.
Empathy
A(n) _______ is a specific commitment that each team member makes to the group.
Agreement
_________ are the basic values and moral principles that guide behavior of individuals and groups
Ethics
Taking action and doing what needs to be done, without being asked.
Initiative
Working with the parties in conflict to find out a resolution.
Negotiation
T or F? In retail selling, vacuuming and dusting are part of the preapproach to the sale.
True
T or F?Feature-benefit selling refers only to the basic, physical attributes of a product.
False
T or F? The Smiths are remodeling the kitchen in their home. They have selected Truly Fine floor covering because they trust the Truly Fine company’s reputation for quality. Therefore, the company’s reputation is a tangible product feature for the Smiths.
False
T or F? Prospecting is a vital part of business-to-business sales, but only a small part of retail sales.
True
T or F? Customers who have developed brand loyalty for a product will use routine decision making.
True
Michele received employee of the month for reaching her sales _________.
Quota
The final step in a business-to-business sales approach is making a(n) ________.
Appointment
The most basic of products benefits is the product’s intended __________.
Purpose
Sarah’s first car was a Volvo that she never had any problems with. When it came time for Sarah to buy a new car, she purchased another Volvo. In doing so, Sarah displayed a(n) _________ motive for her purchase.
Rational
The four steps used by sales managers when training new sales personnel are explanation, ______, trail, and critique
Demostration
Ocean Pharmacy has been a small-town drug store for 43 years. The grandchildren of original customers are now faithful, happy customers. It is clear that the pharmacy’s owner knows that that customer _____ is part of his success.
Loyalty
On her 50th birthday, Mrs. Jones bought a jar of Young Again face cream because she wanted to “recapture that youthful feeling” promised in the face cream advertisements. Mrs. Jones had a(n) ____ motive for her purchase
Emotional
Last year, Jamie and Lydia started a public relations firm in the spare room of Lydia’s house. Now they have so many clients they must find and rent office space, a task neither has ever done. Selecting the space will require ______ decision making.
Extensive
Direct contact between a salesperson and a customer is called _____.
Personal Selling
Names of potential customers gathered from one’s employer is called a(n) _________.
Prospect
T or F? The greeting approach establishes a positive atmosphere and opens lines of communication.
True
T or F? Prospecting is a vital part of B2B sales but is not as important to retail sales.
True
T or F? For some products, it is essential that the customer buy the proper size. When size is important factor, it is acceptable for a salesperson to ask directly for a customer’s height or weight.
False
T or F? Customers who have developed brand loyalty for a product will use routine decision making.
True
T or F? Maintaining eye contact is an important part of establishing a relationship with a customer.
True
T or F? In retail selling, vacuuming and dusting are part of the preapproach to the sale.
True
T or F? Determining a retail customer’s needs should be done as soon as possible in the sales process.
True
T or F?Feature-benefit selling refers only to the basic, physical attributes of a product.
False
T or F? As a salesperson making a sales approach, it is easier to discover a customer’s personal interests when you are in a retail situation than when you are in a B2B situation.
False
T or F? The Smiths are remodeling the kitchen in their home. They have selected Truly Fine floor covering because they trust the Truly Fine company’s reputation for quality. Therefore, the company’s reputation is a tangible product feature for the Smiths.
False
According to your textbook, how does a customer feel when you ask several questions in a row? empathetic misunderstood uncertain cross-examined
Cross-examined
John works in the men's clothing department of a large department store. Yesterday, he noticed a customer inspecting an elegant suit. Approaching the customer, John said, "Good morning, Mr. Smith. May I put that suit in a men's dressing room for you?" What method of initial approach is John using? merchandise approach service approach greeting approach suggestion selling
Greeting Approach
The Johnsons take a vacation every spring. Working with a travel agent to gather information about possible destinations, they have planned and taken trips to resort locations throughout the U.S. What type of decision making will the Johnsons use to select next year's trip? extensive routine emotional limited
Limited
Sometimes a home owner who wishes to sell his/her house will buy a home warranty.This means that the buyer of the house will not have to pay for particular house repairs that become necessary during the first year after the house is sold. In this case, what is the warranty? extended product feature customer benefit tangible product feature seller benefit
Extended product feature
In which step of the sale should you learn what the retail customer is looking for in a good or service? approaching the customer determining needs presenting the product overcoming objections
Determining needs
The owner of Furry Friends pet store holds weekly informal meetings to keep employees aware of new products in the store. How are the pet shop employees receiving product information? direct experience printed material other people formal training
formal training
Frank owner a gardening service. Every few months, he leaves flyers detailing his services on the doorstep of houses in local neighborhoods. What method is Frank using to find new customers? endless chain service approach cold canvassing commercial list
Cold canvassing
When are the customer's needs usually determined in a B2B situation? during the preapproach immediately after the preapproach immediately after the approach during the first meeting
During the preapproach
In B2B selling, what is the key factor in determining the kinds of preapproach activities a salesperson should do?
The prospective customer’s desire to buy the product
The type of product the salesperson sells
The customer’s financial stability
The salesperson’s prior relationship with the customer
The salesperson’s prior relationship with the customer
How should a salesperson approach an impatient customer? cautiously not at all quietly quickly
Quickly
On her 50th birthday, Mrs. Jones bought a jar of Young Again face cream because she wanted to “recapture that youthful feeling” promised in the face cream advertisements. Mrs. Jones had a(n) ____ motive for her purchase
Emotional
When a retail salesperson approaches a customer and asks, “May I assist you in finding what you are looking for?”, the salesperson is using the _______ approach method.
Service
Direct contact between a salesperson and a customer is called _____.
Personal Selling
Facial expressions, hand motions, and eye movements are part of ______ communication
Nonverbal
The most basic of products benefits is the product’s intended __________.
Purpose
Maintaining eye contact, providing feedback, and giving customers undivided attention are important parts of the need-determining method known as _______.
Listening
The four steps used by sales managers when training new sales personnel are _________, demonstration, trail, and critique
Explanation
According to the textbook, the most effective initial approach in retail sales is usually the ______ approach.
Merchandise
Susan’s first car was a Honda that she never had any problems with. When it came time for Susan to buy a new car, she purchased another Honda. In doing so, Sarah displayed a(n) _________ motive for her purchase.
Rational
Questions that require more than a yes or no are called ________ questions.
Open-ended
Last year, Jamie and Lydia started a public relations firm in the spare room of Lydia’s house. Now they have so many clients they must find and rent office space, a task neither has ever done. Selecting the space will require ______ decision making.
Extensive
When ________ the product, a good salesperson will educate the customer.
Presenting
To watch or take notice is to _______.
Observe
George is a pharmaceutical salesperson for Benway Drugs Company. George travels to doctors’ offices everyday to meet personally with the physicians. In doing so, George is looking for potential customers or _______.
Prospects
T or F? It is acceptable for a salesperson to use jargon during a B2B sales presentation.
True
T or F? When a customer objects to purchasing an item, it is best to be brief, direct, and ask,”Why do you object?”
False
T or F? To keep a customer from feeling pressured, a salesperson should at times allow the customer to resolve objections without interference from the salesperson.
False
My spouse and I would love to take this trip to Hawaii that you've described, but we have to repaint our house and we really should replace our refrigerator. What is such an objection based on? price need source time
need
A customer in a computer store tells the salesperson, "I can't buy this software program. I don't understand the directions." The salesperson's reply is, "Let's read over the directions together. What is the first direction you find confusing?" What method of handling objections is the salesperson using? Boomerang Demonstration Question Superior Point
Question
A salesperson says to a customer, "I've had many customers express the same concern you've just stated." What step of the basic strategy for handling objections does the preceding comment exemplify? answer listen restate acknowledge
Acknowledge
When you don’t know your customer’s price range, and knowledge of the intended use is insufficient to determine a price range, what should you do?
Offer medium-priced products
Concerns, hesitations, and doubts are all examples of customer _________.
Objections
In marketing terms, ___________ is restating an objection in a different way.
Paraphrase
What is the four-step method for handling objections?
1) Listen Carefully
2) Acknowledge
3) Restate
4) Answer
contradiction of a statement
denial
to reword a statement without changing its meaning
paraphrase
language that most people can understand
layman’s terms
a neutral person
third-party
reasons for not buying a product
excuses
language used to communicate with industrial buyers at other levels of expertise
jargon
a list of reasons for not purchasing a product and possible responses to those reasons
objection analysis sheet
recommending a different product
substitution method
concerns, hesitations, or doubts
objections
a positive statement about the quality of a product
testimonial
T or F? It is important for a salesperson to use words that are rather vague in making a product presentation so that the customer will not be swayed by the salesperson’s biases
False
T or F? It is acceptable for a salesperson to use jargon during a business-to-business sales presentation
True
T or F? When a customer objects to purchasing an item, it is best to be brief, direct, and ask, “Why do you object?”
False
T or F? To keep a customer from feeling pressured, a salesperson should at times allow the customer to resolve objections without interference from the salesperson.
False
A technique that answers objections by showing the customer how to operate a product is called the _______ method
Demonstration
The third party method of handling objections requires the use of ________ from satisfied cutomers
testimonials
An effective way of maintaining the customer’s interest in a product presentation is to ______ the customer in the presentation
Involve
Bill Long is a patio furniture salesman. His customer eyes a beautiful redwood table, but says, “I’m sure the finish on this table will warp.” Bill assures the customer that the table has been specially treated to prevent its warping. Bill uses the ______ method of handling objections
Denial
Ryan, the salesperson with the best sales record in the small appliance department of an electronics store, attributes his success to the fact that he always shows how to use the appliance the customer is thinking of buying. Ryan knows that sharing his experience is ______ selling.
Consultative
A salesperson can use newspaper articles, graphs, and customer testimonials as sales _____ in presenting a product
aids
In some sales situations, it is possible to confront and answer anticipated _________ by incorporating them in the presentation
objections
As a salesperson, you may not be able to determine immediately a customer’s price range for buying a particular item. In that case, always begin a product presentation by offering products in the ________ price range.
Medium
Can be used when the price of a product will soon increase
Standing-Room-only close
a first attempt to get a customer’s agreement to buy
trial close
the period in which a salesperson should try to reinforce a customer’s buying decision
Follow-up
Business’ techniques for nurturing customer relationships
relationship marketing
in retail selling, inviting the customer to shop in your store again when you have failed to close a sale
Departure
analyze what has occured
evaluation
offering a customer a payment plan for a purchase
service close
can be used when a customer has clearly indicated positive feelings about a purchase
Direct close
the popular trend among companies today to find customers and keep them satisfied
Customer Relationship Marketing (CRM)
Encouraging a customer to view a purchase decision as a choice between two items
which close
T or F? If a trail close is a failure in a retail selling, the salesperson should continue with the product presentation
True
T or F? Encouraging a customer to make a decision between two items is an example of trial close
False
T or F? Many perfume and make-up salespeople offer customers a gift such as a make-up bag or a small bottle of perfume with a purchase. This offer is part of a service close
True
T or F? As a customer leaves a shop, the salesperson should thank him or her even if the customer has not made a purchase
True
T or F? The time for suggestion selling is immediately before a sale is closed
False
The sales people at the Sleek But Practical Car Agency always call a customer three weeks after he or she has purchased a car to see if the customer is satisfied with the car and the agency’s services. This call exemplifies the after-sale activity known as _________.
Follow-up
“May I write up your order now?” is a question to be used during a(n) __________ close.
Direct
One of the most helpful techniques for closing the sale is a dramatic product ________.
Presentation
John works in a coffee store where he sells coffee and coffee-making equipment. John is rarely successful at suggestion selling because he usually asks, “What else can I get for you?” John needs to be more ____ in his suggestions
specific
Often, hotel guests will find a questionnaire in their rooms that asks them to rate the services they receive from the hotel staff. The questionnaires help the hotel management in the after sale activity called ________.
Evaluation
A salesperson should not rush a customer into making a buying decision because, in a consumer-oriented marketplace, the salesperson’s primary interests should always be in customer ______________.
Satisfaction
“This brass lamp would look very elegant on the coffee table you are purchasing,” is an example of the suggestion selling method called offering _______ merchandise
related
Companies use relationship marketing strategies in order to encourage ______ business.
Repeat
