Exam 1

Question 1

the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large

Answer 1

Marketing

Question 2

4 Ps of Marketing

Answer 2

Product, place, price, and promotion

Question 3

What are the essentials of a firm’s marketing effort

Answer 3

1. determine the needs of its customers

2. create and maintain an effective marketing mix that satisfies customer needs

Question 4

What is critical to selling

Answer 4

examine the customers needs, provide information and solutions to meet the customers needs, provide after the sale service to

Question 5

What is professional selling

Answer 5

Refers to the personal communication of information, to unselfishly assist someone

Question 6

2 primary duties of professional selling

Answer 6

1. unselfishly serve the buyer or buying organization

2. professionally represent the selling organization

Question 7

Skills used in sales

Answer 7

Communication, personal interactions, problem solving, persuasion

Question 8

Sales is the first job chosen by how many of all business majors

Answer 8

60%

Question 9

Sales is the first job chosen by how many of all marketing majors

Answer 9

88%

Question 10

Workers across a range of occupations suggest that (how much) of their time is devoted to sales like activities

Answer 10

41%

Question 11

Refers to making a contribution to the welfare of others

Answer 11

Service

Question 12

Type of Sale: For resale, for use in producing other goods, for use within an organization

Answer 12

Selling for a Wholesaler

Question 13

Type of Sale: Working for the firm who manufactures the product, usually one of the most prestigious jobs to hold

Answer 13

Selling for a manufacturer

Question 14

Type of Sale: sells goods or services to consumers for their personal, non-business use

Answer 14

Retail Selling

Question 15

Type of Sale: face to face sales to consumers, typically in their homes, who use the products for their non-business personal use

Answer 15

Direct Selling

Question 16

Order takers

Answer 16

salesperson does exactly what customer tells them to do; may not use a sales presentation

Question 17

Order Getters

Answer 17

use creative sales strategies to better understand customer needs; creates value by helping provide solutions

Question 18

philosophy of unselfishly treating others as you would like to be treated

Answer 18

Golden Rule of Personal Selling

Question 19

the most difficult trait for a salesperson to develop

Answer 19

self-control

Question 20

the cognitive ability to see the selling process as a whole and the relationship among its parts

Answer 20

conceptual skill

Question 21

common denominator of a successful salesperson

Answer 21

unselfish and sacrificing for prospects

Question 22

Preconventional

Answer 22

what can i get away with

Question 23

conventional

Answer 23

what am i legally required to do

Question 24

principled

Answer 24

what is the right thing to do

Question 25

leading influences on american ethics are

Answer 25

movies, TV, the internet, books, music, public policy, law, and family

Question 26

a point of reference

Answer 26

is fixed, is separate from you, no one else may influence

Question 27

code of moral principles and values that govern the behaviors of a person or a group with respect to what is right or wrong

Answer 27

ethics

Question 28

ethical dilemmas may involve these three people:

Answer 28

salespeople, employer, customers

Question 29

factors influencing the buying process

Answer 29

individual, social, organizations climate

Question 30

taking a second job while still working for your primary one

Answer 30

moonlighting

Question 31

When a customer relies on a salesperson’s statements, purchases the product or service, and then finds that it fails to perform as promised, the supplier can be sued

Answer 31

misrepresentation and breach of warranty

Question 32

The act allows sellers to grant what are called quantity discounts to larger buyers based on savings in manufacturing costs.

Answer 32

Robinson-Patman Act of 1936

Question 33

To buy a particular line of merchandise, a buyer may be required to buy other, unwanted products.

Answer 33

tie-in sale and is prohibited under the Clayton Act

Question 34

the buyer may cancel the contract, return any merchandise, and obtain a full refund.

Answer 34

cooling off laws

Question 35

official given the responsibility of corporate conscience who hears and investi- gates ethics complaints and informs top management of potential ethics issues

Answer 35

ethics ombudsperson

Question 36

buyer’s need to purchase the most satisfying product for the money

Answer 36

economic needs

Question 37

A direct, detail-oriented person. Likes to deal in sequence on his/her time. Very precise, sometimes seen as a nitpicker. Fact oriented.

Answer 37

thinker

Question 38

Effective communicator, deliberative, prudent, weighs alternatives, stabilizing, objective, rational, analytical, asks questions for more facts.

Answer 38

thinker

Question 39

Verbose, indecisive, overcautious, overanalyzes, unemotional, nondynamic, controlled and controlling, overserious, rigid, nitpicking.

Answer 39

thinker

Question 40

A knowledgeable, future-oriented person. An innovator who likes to abstract principles from a mass of material. Active in community affairs by assisting in policy making, program development, etc

Answer 40

intuitor

Question 41

Original, imaginative, creative, broad-gauged, charismatic, idealist, intellectual, tenacious, ideological, conceptual, involved.

Answer 41

intuitor

Question 42

Unrealistic, far-out, fantasy-bound, scattered, devious, out-of-touch, dogmatic, impractical, poor listener.

Answer 42

intuitor

Question 43

People oriented. Very sensitive to people’s needs. An emotional person rooted in the past. Enjoys contact with people. Able to read people very well.People oriented. Very sensitive to people’s needs. An emotional person rooted in the past. Enjoys contact with people. Able to read people very well.

Answer 43

feeler

Question 44

Spontaneous, persuasive, empathetic, grasps traditional values, probing, introspective, draws out feelings of others, loyal, actions based on what has worked in the past.

Answer 44

feeler

Question 45

Impulsive, manipulative, overpersonalizes, sentimental, postponing, guilt-ridden, stirs up conflict, subjective.

Answer 45

feeler

Question 46

Action-oriented person. Deals with the world through his/her senses. Very decisive and has a high energy level.

Answer 46

senser

Question 47

Pragmatic, assertive, directional results oriented, technically skillful, objective— bases opinions on what he/she actually sees, perfection seeking, decisive, direct and down to earth, action oriented.

Answer 47

senser

Question 48

Impatient, doesn’t see long range, status- seeking, self-involved, acts first then thinks, lacks trust in others, nitpicking, impulsive, does not delegate to others.

Answer 48

senser