Exam 1

Question 1

Personal Selling

Answer 1

a person-to-person business activity in which a
salesperson uncovers and satisfies the needs of a buyer to
the mutual, long-term benefit of both parties.

Question 2

Profit Equation

Answer 2

Profit = Sales – COGS – Time and Effort

Question 3

Personal Value Equation

Answer 3

Personal Value Equation = Benefits received - (Selling price + Time
and effort to purchase)

Question 4

Go-to-market strategies

Answer 4

Approaches used to approach
customer as they add value.

Question 5

Sales force-intensive organizations

Answer 5

Organizations that rely heavily on salespeople

Question 6

Customer Centric organizations

Answer 6

All employees are focused on anticipating and meeting the
needs of customers

Question 7

Customercentric

Answer 7

Making the
customer the center of
everything the salesperson
does

Question 8

Field salespeople

Answer 8

Communicate with the customer face to face, at the customers location

Question 9

Inside salespeople

Answer 9

Communicate with customers by telephone or computer, at employer’s
location

Question 10

Nature of the offering sold by the salesperson

Answer 10

Types of benefits provided by products and services affects the nature of the
sales job

Question 11

Salesperson’s role in securing customer commitment

Answer 11

Sales jobs differ by the types of commitments sought and the manner in which
they are obtained
Salesperson’s role in securing customer commitment:
1-22

Question 12

EMOTIONAL INTELLIGENCE

Answer 12

Ability to effectively understand and regulate one’s own
emotions and to read and respond to the emotions of
others

Question 13

Manipulation

Answer 13

Eliminating or reducing a buyer’s choice
unfairly

Question 14

Persuasion

Answer 14

The decision still remains the buyer’s, with
attempts made to influence it

Question 15

Deception

Answer 15

Deliberately presenting inaccurate
information

Question 16

Bribes

Answer 16

Payments made to buyers to influence their
purchase decisions

Question 17

Kickbacks

Answer 17

Payments made to buyers based on the
amount of orders placed

Question 18

Backdoor Selling:

Answer 18

Salespeople ignore the purchasing
agent’s policy and contact people directly involved in
the purchasing decision

Question 19

Reciprocity

Answer 19

Special relationship in which two companies agree to buy products from
each other

Question 20

Tying agreement

Answer 20

Buyer is required to purchase one product in order to get another product

Question 21

Original equipment manufacturer (OEM)

Answer 21

Purchase
goods to use in making their products

Question 22

End User

Answer 22

When a manufacturers buy goods or
services to support their own production, they become
end-users (capital equipment)

Question 23

Sales force intensive strategy

Answer 23

The greater the complexity the greater the potential value add of the salesperson

Question 24

Steps in the Organizational Buying Process

Answer 24

1. Recognize Need
2. Define product type needed
3. Development of detailed specifications
4. Search for suppliers
5. Acquisition of proposals
6. Evaluation of proposals and selection
7. Placing the receiving the order
8. Evaluation of product performance

Question 25

Buying Motives

Answer 25

Need Acceptance Fear Health impulse Pleasure Financial Gain Aspiration

Question 26

Inflection

Answer 26

Tone or pitch of speech

Question 27

Articulation

Answer 27

Production of recognizable sounds

Question 28

Word Picture

Answer 28

Graphic or vivid story designed to help the buyer easily visualize a point.

Question 29

Analogy

Answer 29

Speaker attempts to draw a parallel between one thing and another.

Question 30

80 to 20 listening rule

Answer 30

- Listen 80 percent of the time. - Talk no more than 20 percent of the time

Question 31

Suggestions for Active Listening

Answer 31

Repeating information. * Restating or rephrasing information. * Clarifying information. * Summarizing the conversation. * Tolerating silences. * Concentrating on the ideas being communicated.

Question 32

Adaptive selling

Answer 32

salespeople should alter the content and form of their sales presentation so customers will be able to absorb the information easily and find it relevant to their situation

Question 33

Adaptive selling forces the salesperson to practice the _____________ (pull), as opposed to __________ (push)

Answer 33

Marketing concept; selling concept

Question 34

ADAPTS

Answer 34

Creativity, Communication, Knowledge, Trust, Commitment, Performance

Question 35

Style flexing:

Answer 35

Adjusting your behavior to mirror or match your customer’s social style

Question 36

Assertiveness

Answer 36

Degree to which people have opinions about issues AND publicly make their positions clear to others

Question 37

Responsiveness

Answer 37

Based on how emotional people tend to get in social situations

Question 38

DRIVERS

Answer 38

* Have a great desire to get ahead in their companies and careers * Swift and efficient decision makers * Base their decisions on facts and how it affects the bottom line. They want to know “what” will help them decide quickly. * Take risks * Look at several alternatives before making a decision * “Let’s get it done and get it done my way” * Recognition , influence are important

Question 39

EXPRESSIVES

Answer 39

Focus on the future and are creative * Direct their time and effort toward achieving their vision * Act quickly * Take risks and accept consequences * Shares credit and ideas * Gives guidance, are charismatic , persuasive , nurturing * Demands excellence * They want to know “who”?

Question 40

AMIABLES

Answer 40

* Give importance to close relationships and cooperation * Avoids conflict * Build a consensus among people involved in the decision * Enjoys entertainment * Cordial, loyal * Change their opinions reluctantly * They want to know “why”