Module 1

Question 1

Sales technique that focuses on the interaction between the buyer and the salesperson rather than the price or details of the product.

Answer 1

Relationship Selling

Question 2

The performance of actions that increase the worth of goods, services, or even a business.

Answer 2

Value Creation

Question 3

Business function that identifies, satisfies, and retains customers through a set of activities related to creating, communicating, delivering, and exchanging offerings that have value for the customer.

Answer 3

Marketing

Question 4

Incorporates actually selling the company’s products or service to its customers.

Answer 4

Sales

Question 5

Having a positive attitude toward a product or brand, which induces supportive behavior from the customer.

Answer 5

Customer Loyalty

Question 6

The willingness of the average consumer to rely on the ability of the brand to perform its stated function.

Answer 6

Brand Trust

Question 7

A type of selling that uses person-to-person interaction to sell products and services.

Answer 7

Personal Selling

Question 8

The percentage of prospective customers who take a specific action you want.

Answer 8

Conversion Rates

Question 9

The process of estimating future sales.

Answer 9

Sales Forecast

Question 10

A plan for expenditures required to maintain the functioning of a business venture or public organization.

Answer 10

Operational Budget

Question 11

An organization’s different departments or business units within a company to achieve its overall mission and goals

Answer 11

Corporate Structure

Question 12

An organization structure that groups employees according to a specialized or similar set of roles or tasks.

Answer 12

Functional Structure

Question 13

Divides the business into small, tightly knit strategic business units (SBUs), which focus on specific elements of the organizational process.

Answer 13

Modular Structure

Question 14

A profit center that focuses on product offering and market segment.

Answer 14

Strategic Business Units

Question 15

The process or activities by which a company adds value to a product, including production, marketing, and the provision of after-sales service.

Answer 15

Value Chain

Question 16

Firms that provide similar products or services and try to attract the same customers

Answer 16

Competitors

Question 17

A condition or circumstance that puts a company in a favorable or superior business position

Answer 17

Competitive Advantage

Question 18

Company assets, attributes, or abilities that are difficult to duplicate or exceed and provide a superior or favorable long-term position over competitors.

Answer 18

Sustainable Competitive Advantage

Question 19

Process implemented by a company to handle its contact with customers and the goal of creating a unified customer experience to maximize retention.

Answer 19

Customer Relationship Management (CRM)

Question 20

The use of technology to analyze data and provide information to help executives, managers, and others make good business decisions.

Answer 20

Business Intelligence

Question 21

Sales to another company that consumes the product or services as part of operating the business or uses the product in the assembly of the final product it sells to consumers.

Answer 21

Business-to-Business (B2B)

Question 22

The careful coordination of all promotional activities to produce a consistent, unified message that is customer focused.

Answer 22

Integrated Marketing Communication (IMC)

Question 23

A framework that acknowledges a buyer’s progression through a research and decision process ultimately culminating in a purchase. Includes attention, interest, desire and action.

Answer 23

Consumer (buyer) Journey

Question 24

A sales strategy that involves focusing on achieving quick sales without a significant attempt to form a long-term customer relationship.

Answer 24

Transactional Selling

Question 25

Using social styles to customize a sales approach to the specific customer.

Answer 25

Adaptive selling

Question 26

The first step in the sales process, which consists of identifying potential customers, also known as prospects.

Answer 26

Prospecting

Question 27

A model that categorizes people according to personality traits and how they interact with others. Includes analytical, driver, amiable, and expressive.

Answer 27

Social Style Matrix

Question 28

Sales approach where the seller becomes a trusted advisor to the customer and builds a relationship to truly understand their needs.

Answer 28

Consultative Selling

Question 29

An innovation, service, or feature intended to make a company or product attractive to customers.

Answer 29

Value Proposition

Question 30

Customer realizes they like the product or service.

Answer 30

Interest

Question 31

Occurs when two or more members of an organization are involves in a sale.

Answer 31

Team Selling

Question 32

The consumer is aware of a product or service that can satisfy their identifiable need.

Answer 32

Attention

Question 33

Reached when a customer is about to take action. Customer wants the product or service.

Answer 33

Desire

Question 34

Occurs when the purchase occurs. Customer decides to get the product/service.

Answer 34

Action

Question 35

A system that defines right and wrong and provides a guiding philosophy for every decision one makes.

Answer 35

Ethical Behavior

Question 36

The willingness of a consumer to depend on a brand’s ability to do what it is supposed to do.

Answer 36

Customer Loyalty

Question 37

Refers to adapting to another person’s style so that both styles gravitate toward one another.

Answer 37

Psychological Reciprocity

Question 38

An innovation, service, or feature intended to make a company product attractive to customers.

Answer 38

Value Proposition

Question 39

The current value of all future business from a customer throughout the customer’s relationship with the organization.

Answer 39

Customer Lifetime Value (CLV)

Question 40

An internal sales structure focus.

Answer 40

Account Management Support