Brainscape's Knowledge GenomeTM

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


See full index

Sales & Marketing Skills for the Entrepreneur > Quiz Revision > Flashcards

Quiz Revision Flashcards

1
Q

What are the 4 P’s of marketting?

A
  1. Place
  2. Price
  3. Promotion
  4. Product
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

What is external marketing?

A

External marketing refers to promoting the services and products that you sell

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

What is internal marketing?

A

Internal marketing is the process of spreading information to current patients to educate them about new and existing services that are offered

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

What is personal selling?

A

based around customer first - understanding px unique needs and wants

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

What are marketing strategies based on? 2

A

Target Markets
Marketing mix (4 P’s)

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

What 2 factors must be considered before selecting a marketing strategy?

A

-should the strategy be concentrated to one specific target audience or everyone
-just one target market or multiple

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

List 5 different types of external marketing.

A
  • Brochures and Pamphlets
  • Letters and Mailing
  • Advertising
  • News Releases
  • Telephone Listing
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

What does SPIN stand for?

A
  • Situation Questions
  • Problem Questions
  • Implication Questions
  • Need-payoff Questions
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

What does ADAPT stand for?

A
  • Assessment Questions
  • Discovery Questions
  • Activation Questions
  • Projection Questions
  • Transition Questions
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

What are the 5 general types of buyer’s needs?

A
  1. Functional needs
  2. Situational needs
  3. Social needs
  4. Psychological needs
  5. Knowledge needs
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

What are 5 major types of sales objections?

A

-Needs Objection
-Product or Service Objections
-Company or Source Objections
-Price Objections
-Time Objections

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

What are 2 relationship detractors?

A

-overpromising or underdelivering
-being unavailable to the customer

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

What are 3 benefits of having a business website?

A

-easier to market (internally and externally)
-Convenience 24/7 access
-Increase credibility

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

What are 4 reasons to use sales aids?

A
  • Gaining the patients attention
  • Increasing the patient’s physical involvement in the sale
  • Provides supportive evidence of the ‘sales pitch’ given to the patient
  • Provide the opportunity for the patient to ask questions and communicate better
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

What does LAARC stand for?

A

Listen
Acknowledge
Assess
Respond
Confirm

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

What is LAARC used for?

A

A response process when a patient objections to the sale/something about the sale

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

What are 5 different methods of closing a sale?

A
  • Standing-room-only close
  • Continuous yes close
  • Fear or Emotional close
  • Minor-Points close
  • Assumptive close
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

What are the 4 processes of implenting effective sales strategies for employees?

A

Personal goals
Terrirtory goals
Account goals
Sales call Goals

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

What are 4 approaches to managing patients objections?

A

Indirect denial
Forestalling
Compensation
Translation/Boomerang

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

What are the 8 business buyers buying process?

A
  1. Recognition of the Problem or Need
  2. Determination of the Characteristic of the Item and the Quantity needed
  3. Description of the Characteristics of the Item and the Quantity needed
  4. Search for Qualification of Potential Sources
  5. Acquisition and Analysis of Proposals
  6. Evaluation of Proposals and Selection of Suppliers
  7. Selection of an Order Routine
  8. Performance Feedback and Evaluation
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

Explain the forestalling technique for managing px objections.

A

A response to buyer objections in which the salesperson answers the objection during the presentation before the buyer has a chance to ask it.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

Explain the indirect denial technique for managing px objections.

A

A response to buyer objections in which the salesperson converts the objection into a reason the prospect should buy
Sometimes it is best not to take an objection head on. The indirect approach takes on the objection, but
with a softer, more tactful approach. With the indirect denial, the salesperson never tells the prospect directly that they are wrong.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

Explain the translation or boomerang technique for managing px objections.

A

A response to buyer objections in which the salesperson converts the objection into a reason the prospect should buy

24
Q

Explain the compensation technique for managing px objections.

A

A response to buyer objections in which the salesperson counterbalances the objection with an offsetting benefit.

25
Q

Explain a standing room-only close.

A

A sales closing technique in which the salesperson puts a time limit on the
client in an attempt to hurry the decision to close.

26
Q

Explain an assumptive close.

A

A sales closing technique in which the salesperson assumes that an agreement has
been reached and places the order form in front of the buyer, and hands him or her a pen.

27
Q

Explain continuous yes close.

A

A sales closing technique that uses the principle that saying yes gets to be a habit;
the salesperson asks a number of questions formulated so that the prospect answers yes.

28
Q

Explain a fear or emotional close.

A

A sales closing technique in which the salesperson tells a story of something bad
happening if the purchase is not made.

29
Q

Explain minor-points close.

A

A sales closing technique in which the salesperson seeks agreement on relatively
minor issues associated with the full order.

30
Q

What are the approaches to a follow up procedure? 4

A
  • Interact
    -Connect
    -Know
    -Relate
31
Q

What are the 2 types of buyers?

A

-Consumer Market - consumer purchases goods and services for their use or consumption.
-Business Market - composed of firms, institutions and governments who buy things for their own business (manufacture, day-to-day operations, or resale).

32
Q

Explain what the buyer type - situational needs is

A

the needs that are contingent on, and often a result of, conditions related to the specific environment, time, and place.

33
Q

Explain what the buyer type - Functional needs is

A

the need for a specific core task or function to be performed.

34
Q

Explain what the buyer type - social needs is

A

the need for acceptance from and association with others.

35
Q

Explain what the buyer type - Psychological needs is

A

the desire for feelings of assurance and risk reduction, as well as positive emotions and feelings, such as success, joy, excitement, and stimulation.

36
Q

Explain what the buyer type - Knowledge needs is

A

the desire for personal development, information, and knowledge to increase thought and understanding as to how and why things happen.

37
Q

What is the purpose a situation questions? (SPIN)

A

used early in the sales call that provides salespeople with leads to develop the
buyer’s needs and expectations fully.

38
Q

What is the difference between transaction focus selling vs trust-based relationship selling?

A

transaction - maximize sales in the short run.
trust-based - form of personal selling that means we earn px trust and meet their needs, more value.

39
Q

What is the purpose of a problem question? (SPIN)

A
  • follows the more general situation questions to further probe for specific difficulties, developing problems, and areas of dissatisfaction that might be positively addressed by the salesperson’s
    proposed sales offering.
40
Q

What is the purpose of a Implication question? (SPIN)

A

is related to the information flowing from problem questions; they are used to
assist the buyer in thinking about the potential consequences of the problem and understanding the
urgency of resolving the problem in a way that motivates him or her to seek a solution.

41
Q

What is the purpose of an assessment question? (ADAPT)

A

address the buyer’s company and operations, goals and objectives, market
trends and customers, current suppliers, and even the buyer as an individual.

42
Q

What is the purpose of a need-payoff question? (SPIN)

A

based on the implications of a problem; they are used to propose a solution and
develop commitment from the buyer

43
Q

What is the purpose of the discovery questions? (ADAPT)

A
  • follows up on the assessment questions; they should drill down and probe for
    further details needed to develop, clarify, and understand the nature of the buyer’s problems fully.
44
Q

What is the purpose of the Activation questions? (ADAPT)

A

used to “activate” the customer’s interest in solving discovered problems by
helping him or her gain insight into the true ramifications of the problem and to realize that what may initially seem to be of little consequence is, in fact, of significant consequence.

45
Q

What is the purpose of the projection questions? (ADAPT)

A

encourage and help the buyer project what it would be like without the problems
that have been previously “discovered” and “activated”.

46
Q

What is the purpose of the transition questions? (ADAPT)

A

used to smooth the transition from needs discovery into the presentation and
demonstration of the proposed solution’s features and benefits

47
Q

What 3 things can be used to support a product claim (proof providers) ?

A

Statistics
Testimonials
Case Histories

48
Q

Define a personal goal.

A

a salesperson’s individual desired accomplishment, such as achieving
a desired annual income over a specific period.

49
Q

Define a Territory goal.

A

a salesperson’s desire to sell a certain amount of product within an
area or territory to achieve personal goals.

50
Q

Define an Account goal.

A

as salesperson’s desire to sell a certain amount of product to one customer or account to achieve territory and personal goals.

51
Q

Define a sales call goal.

A

a salesperson’s desire to sell a certain amount of product per each
sales call to achieve account, territory, and personal goals

52
Q

What are the three major phases of the sales process?

A

initiating customer relationship
developing customer relationship
enhancing customer relationship

53
Q

What is the difference between advertising and marketing?

A

Marketing is the broader strategy that involves creating, communicating, and delivering value to customers, including research and product development.

Advertising is a subset of marketing focused specifically on promoting products or services through paid media channels to reach a targeted audience.

54
Q

What is an intregal part of building a relationship between customer and suppliers?

A

trust

55
Q

What are different types of marketing approaches to target markets? 4

A

mass marketing
niche marketing
differential marketing
micro marketing

Sales & Marketing Skills for the Entrepreneur (1 decks)

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