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sales/marketing > midterm > Flashcards

midterm Flashcards

1
Q

Who was the emperor of Rome in the year 170? And later has written works, “Medtitations” translated and published into a book by Gregory Hays?

A

Marcus Aurelius

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2
Q

Who said “bad companies are destroyed by crisis. Good companies survive them. Great companies are improved by them?

A

Andy Grove CEO of Intel

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3
Q

What is Stoicism?

A

philosophy

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4
Q

What are the 4 types of obstacles described in part 1 of the book?

A

mental, physical, emotional, and perceived

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5
Q

The obstacle in the path becomes the______, never forget, within every obstacle is an opportunity to improve our condition.

A

path

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6
Q

What are the three interdependent, interconnected, and fluidly contingent disciplines?

A

perception, action, and will

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7
Q

What is the Greek version of the Stoic phrase, what is up to us, what is not up to us?

A

ta eph’hemin

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8
Q

Based on that stoic phrase, what is up to us? our______

A

emotions, judgments, creativity, attitude, perspective, desires, decisions, etc.

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9
Q

According to the book, what famous business leader was credited with the concept of “Reality Distortion Field’?

A

Steve Jobs

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10
Q

According to the author “a clearer head makes for steadier”_______?

A

hands

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11
Q

According to the author “________” is the solution and the cure to our predicaments

A

action

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12
Q

We can always (and only) greet our obstacles with____

A

energy, persistence, pragmatism, strategic vision, resilience, craftiness, and savvy eye for opportunity

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13
Q

In Silicon Valley, start ups don’t launch a polished, finished business, instead they release their _____

A

MVP (Minimally Viable Product)

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14
Q

Great entrepreneurs are_______

A

never wedded to a position, never afraid to lose a little of their investment, never bitter or embarrassed, never out of the game for long

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15
Q

According to the author______ once said “I don’t care if the cat is black or white so long as it is catching mice

A

Deng Xiaoping

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16
Q

According to the author, what is will?

A

final trump card, quiet humility, residence and flexibility, will is our internal power, which can never be affected by the outside world

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17
Q

The Stoics call the ________ the fortress inside of us that no external adversity can ever break down

A

inner citadel

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18
Q

An ancient description at the oracle of delphi. . .

A

offer a guarantee and disaster threatens

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19
Q

What does KBO stand for?

A

Keep buggering on

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20
Q

What is the Latin translation for the title “enchiridon” famous work by epictetus?

A

close at hand

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21
Q

Despite suppliers’ improved ability to convey their unique value, there’s strong evidence that today’s customers are less willing than ever before to actually pay for that value, even when they perceive it? True or False

A

true

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22
Q

While there are many reasons customer do not buy, the primary culprit is the dramatic increase in both the number and diversity of customer stakeholders typically involved in solutions they purchase today and the dysfunction that is bred by the ever expanding number of individuals who need to weigh in before a deal is signed. True or False?

A

True

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23
Q

It is critical to find the “Challenger Buyer” in the account for a sales campaign to be successful. True or False

A

True

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24
Q

What is another name for those who are “Customer Challengers,” inside a company?

A

mobilizers

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25
Q

How many different people on average are formally involved in a typical purchase decision?

A

5.4

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26
Q

Stakeholder dysfunction go up when Stakeholders engage in discussions of the most important issues regarding a purchase together. True or False?

A

False

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27
Q

By the time a sales person is brought into the sales process a customer is less than 50% of the way through a typical purchase process? True or False?

A

False

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28
Q

A dysfunctional group is a full ___% less likely to pay a premium for a high cost offering than a functional group.

A

50%

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29
Q

At what % is the “Wailing and gnashing of teeth” hit its peak when the deal starts falling apart?

A

37%

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30
Q

A dysfunctional group is a full 80% less likely to pay for a premium for a high-cost offering than a functional group? True or False?

A

false

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31
Q

f there is one simple truth of every B2B supplier today, it is that they’re all selling the same thing,______

A

change

32
Q

Customers are seeking out sales rep input at ____ % of the way through the buying/purchasing process. Left to their own devices, customers will always engage a supplier as late as they possibly can.

A

57%

33
Q

List the four things that a supplier must teach, especially to Mobilizers to convince them they need to talk to the sales rep. This very special type of teaching is called Commercial Insight.

A
  1. Capture the attention of a Mobilizer
  2. Motivates them to champion a change of behavior
  3. Rally the support of the other 4.4
  4. Leads the customer back to their unique solution.
34
Q

So what two things does the book say has a statistically significant impact on changing a customer’s purchase direction?

A
  1. Teaching the Customer something new and compelling about their business
  2. Providing customers with a compelling reason to take action
35
Q

Insight, in other words isn’t designed to_______ customers something new that they’ve never thought before, but to _______ them something they already have.

A

teach and unteach

36
Q

Commercial Insight and Commercial Teaching are considered the same. True or False?

A

True

37
Q

The reason it is so hard to change a customers behavior is due to an underlying set of beliefs and assumptions about how the world works, psychologists call this a________. Put another way, the only way to change how a customer acts is to first change the way that a customer thinks.

A

Mental model

38
Q

According to the book, if you consider all of the collateral, all of the “Pitch Decks,” all of the content organizations currently create in an attempt to get customers to buy their solutions, what this content mostly about?

A

customers desired beliefs and behaviors

39
Q

As consensus-oriented approach to stakeholder management wasn’t as important just a few short years ago when senior decision makers could be counted on more reliably to get the deal done on their own?

A

True

40
Q 
The 7 Customer Stakeholder Profiles? True or False?
The Go Getter
The Challenger
The Friend
The Teacher
The Guide
The Climber
The Blocker
A

False

41
Q

According to the authors, the “Climber” is considered the “Anti-stakeholder.” True or False?

A

false

42
Q

Among the seven profiles listed in the reading, it turns out that core reps and star reps target the same stakeholder profiles? True or False?

A

false

43
Q

Star sellers are looking for customer stakeholders who can drive change across the organization and build consensus among their colleagues? True or False?

A

True

44
Q

True or False? The 3 Customer Stakeholder profile types that star performers focus on building connections with are Go-Getters, Teachers and Skeptics-

A

True

45
Q

In your reading, another name for these combined 3 stakeholder profiles that help an organization to act and forge consensus are called

A

Mobilizers

46
Q

Sales reps who engage with Mobilizers are __% more likely to be a high performer than those who don’t.

A

31%

47
Q

The three keys to unlocking a mobilizers potential is Teach, Tailor, Take Control, True or False?

A

True

48
Q

Collective learning is a technique for taking control of the consensus process. True or False?

A

True

49
Q

Commercial insight is asking our customers what they fail to fully understand about their business, but should. True or False.-

A

True

50
Q

The Best way to get someone to think differently about you is to first get them to think differently about themselves. True or False?

A

True

51
Q

In the book, DENTSPLY is a leading manufacturer and distributor of dental and other consumable health care products. The new product innovation that they developed was a cordless instrument for dentists? True or False-

A

true

52
Q

According to the book, many times when a sales rep uses third party sources the customer usually disregards the findings as sales tactics. True or False?

A

False

53
Q

In Chapter 4, the author describes the “Mental Model” as how the customer views you and your products as it relates to their business?

A

False

54
Q

The inner circle of most suppliers value proposition focus on key differentiators such as functionality, running costs, reliability and ease of use. These are the area’s that a Challenger Sales rep should focus on. True or False?

A

false

55
Q

In the Xerox use case who was the key persona and decision maker they were focused on reaching?

A

IT Manager, Leah

56
Q

According to the book, what step should the sales team focus on the “What If” questions?

A

step 5

57
Q

Sharing Commercial Insight is best shared with the customer after the RFP. True or False?

A

false

58
Q

How many sources does the average B2B customer consult for information?

A

a dozen

59
Q

Only 12% of that information comes from the supplier in total, true or false?

A

false

60
Q

A classic thought leadership strategy is to create content about trends related to the suppliers differentiators. They ought to be talking about problems that Moblilizers don’t realize they have, true or false?

A

true

61
Q

Content that is awe inspiring and surprising content gets shared more than practical information, true or false?

A

true

62
Q

Tailoring to stakeholders is far more important than mobilizers, true or false?

A

false

63
Q

There are three types of Mobilizers, Go-Getters, Climbers, and Skeptics, true or false?

A

False- Go-Getters, Teachers, and Skeptics

64
Q

Core sales reps gravitate to talkers because they can gain access to this stakeholder and this is an effective way to drive change inside the customer, true or false?

A

false

65
Q

Core sales reps gravitate to talkers because they can gain access to this stakeholder and this is an effective way to drive change inside the customer, true or false?

A

false

66
Q

Commercial insight is the Mobilizer dog whistle,true or false?

A

true

67
Q

Skeptics don’t see data as key in the sales process, true or false?

A

false

68
Q

On average functional buying groups, at 52% are more likely to purchase a more ambitious offering than dysfunctional ones-

A

false

69
Q

When collective learning is used in the sales cycle the likelihood of a supplier closing on a high-quality deal goes up by 29%, it is by far the most significant driver based on research, true or false?

A

false

70
Q

The primary challenge suppliers must address is winning quality deals isn’t so much overcoming each stakeholders limited understanding of them, it’s helping those stakeholders bridge the gap in their limited understanding of each other. Their lack of any real common connection other than a collective desire to avoid unnecessary risk and reduce organizational expense. That’s why Collective learning is such a powerful drive of deal quality, because it dramatically drives down group dysfunction. True or False?

A

true

71
Q

The impact on collective learning on a groups willingness to purchase additional future offerings goes up by 23% largely because collective learning effectively establishes a vision not just for a near term purchase, but a long term direction. True or False?

A

true

72
Q

According to the authors, debate is viewed as a good thing by core performing reps? True or False?

A

false

73
Q

Collective learning is a technique for taking control of the consensus process. True or False?

A

true

74
Q

During the negotiation phase of the sales cycle customers natural instinct is to attempt to commoditize your solution in an effort to gain pricing leverage. True or False?

A

true

75
Q

In a successful sales pursuit one of the key building blocks in bringing two disparate groups together is a lingua franca or common language. True or False?

A

true

76
Q

What type of workshops did Alpha Company utilize to build consensus and common language?

A

Stakeholder alignment workshop

77
Q

When dealing with a “Pro-Competitor” Blocker, it is a best practice to avoid engaging with them and work closely with the Mobilizer to go around them. True or False?

A

false

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