MKTG 336 Exam 3 - FLASHCARDS - Chapter 14

Question 1

Egg drop

Answer 1

-How effective new-product prices are established
and the need to periodically adjust the prices of existing products
-How to respond to a price attack by an aggressive competitor
-Strategic approaches to competitive bidding

Question 2

What plays a central role in a firm’s business-to- business strategy?

Answer 2

Sales force

Question 3

What is a dominant component and a major determinant of overall company success?

Answer 3

Personal selling

Question 4

True or false: to maximize effectiveness and efficiency, personal selling must be carefully managed and integrated into the marketing mix?

Answer 4

true

Question 5

True or false: to maximize effectiveness and efficiency, salesperson should have a wide array of knowledge about his/her products as well as that of the competitors’?

Answer 5

true

Question 6

True or false: sales force management is fundamental to a firm’s success?

Answer 6

true

Question 7

What comprises planning, organizing, directing, and controlling the personal selling efforts?

Answer 7

Sales force management

Question 8

What forecasts the expected sales response to determine the required sales effort?

Answer 8

Sales force management

Question 9

What does sales force management involve?

Answer 9

Involves ongoing activities of selecting, training, deploying, supervising, and motivating

Question 10

What are the four parts of sales force management?

Answer 10

1. Leveraging social media
2. Methods for organizing the sales force
3. Key account management
4. Distinctive characteristics of high-performing account managers

Question 11

How do salespeople prospect for customers?

Answer 11

1. Sending short messages TLDNR
2. Locating people with an interest in the salesperson’s idea in a social environment

Question 12

The salesperson needs to ensure that the potential customer what?

Answer 12

1. Has necessary budget and authority to buy
2. Has legitimate need for the product or service
3. Meets the salesperson’s delivery timeline
4. Inside view/Dunn and Bradstreet

Question 13

True or false: Social tools help in maintaining strong customer relationships and insuring retention post sales cycle?

Answer 13

true

Question 14

What is an advantage of organizing the personal selling effort based on geographical organization?

Answer 14

Common form of sales organization that reduces travel distance and time between customers

Question 15

True or false: organizing the personal selling effort based on geographical organization minimizes cost?

Answer 15

true

Question 16

A disadvantage of organizing the personal selling effort based on geographical organization is that each salesperson must perform all the selling tasks for all the products and customers in the territory?

Answer 16

true

Question 17

True or false: Salespeople organize personal selling effort by customer type?

Answer 17

true

Question 18

What is an example of salespeople organizing personal selling effort by customer type?

Answer 18

Specializing in the banking industry

Question 19

What is the degree to which firms prioritize customers?

Answer 19

Customer prioritization

Question 20

True or false: Companies can get higher returns and profitability by positively affecting sales and profits from top-tier customers without affecting bottom-tier customers?

Answer 20

true

Question 21

True or false: Companies can get higher returns and profitability by reducing sales and marketing costs?

Answer 21

true

Question 22

What does a key account represent?

Answer 22

Represents a customer who:
1. Purchases a significant volume as a percentage of
sales
2. Involves several organizational members in the purchasing decision
3. Buys for a geographically dispersed unit
4. Expects coordinated response and specialized services

Question 23

Is the time horizon for traditional selling long or short?

Answer 23

Short

Question 24

Is the time horizon for hey account selling long or short?

Answer 24

Long

Question 25

True or false: Successful key account units have senior management support?

Answer 25

true

Question 26

True or false: Successful key account units have well-defined objectives, assignments, and implementation procedures?

Answer 26

true

Question 27

True or false: Successful key account units have experienced staff who are knowledgeable about company’s capabilities?

Answer 27

true

Question 28

True or false: Successful key account units have staff who know how to create customer solutions?

Answer 28

true

Question 29

What is the account manager responsible for?

Answer 29

1. Diagnosing customer needs 2. Identifying matching set of internal experts 3. Recruiting experts for an ad hoc team 4. Supervising the selling center’s activities to deliver a customer-centered solution

Question 30

Who in a company are responsible for recruiting and selecting?

Answer 30

First-line supervisors

Question 31

Does periodic training need to be provided to update skills of experienced workers?

Answer 31

Yes

Question 32

What type of tasks are continued training, counseling, and assistance?

Answer 32

Supervisory tasks

Question 33

What are rewards attained on a personal basis?

Answer 33

Internally mediated rewards

Question 34

What are rewards controlled and offered by managers or customers?

Answer 34

Externally mediated rewards

Question 35

True or false: Salespersons experience higher level of job satisfaction when they perceive that their first-line supervisor closely directs and monitors their activities?

Answer 35

true

Question 36

True or false: Salespersons experience higher level of job satisfaction when they are provided with assistance by the management to solve nonroutine problems?

Answer 36

true

Question 37

True or false: Salespersons experience higher level of job satisfaction when they feel they have an active part in determining company policies and standards that affect them?

Answer 37

true

Question 38

True or false: customer satisfaction increases as salesperson’s job satisfaction increases?

Answer 38

true

Question 39

Do salespeople managed by high-performing sales managers exhibit more role stress and less satisfaction?

Answer 39

No, less role stress and more satisfaction

Question 40

True or false: Management needs to monitor and control sales performance at all levels?

Answer 40

true

Question 41

At what levels to management need to monitor and control sales performance?

Answer 41

National, regional, and district

Question 42

True or false: management needs to keep salespeople informed about internal and external changes?

Answer 42

true

Question 43

What type of measure by sales managers is where the sales manager monitors and directs activities?

Answer 43

Behavior-based

Question 44

What type of measure by sales managers Involves less direct supervision of salesperson activities?

Answer 44

Outcome-based

Question 45

What type of measure by sales managers uses subjective measures to evaluate performance?

Answer 45

Behavior-based

Question 46

What type of measure by sales managers adopts a compensation system with a large fixed component?

Answer 46

Behavior-based

Question 47

What type of measure by sales managers uses objective measures to evaluate performance and has a large incentive component?

Answer 47

Outcome-based

Question 48

What determines the overall productivity of the organization?

Answer 48

Performance standards

Question 49

Effective deployment involves understanding the factors that influence sales in a particular planning and control unit (PCU)

Question 50

What are potential sales territory traits?

Answer 50

Measure of total business opportunity for all sellers in a particular market

Question 51

What are concentration sales territory traits?

Answer 51

Degree to which potential is confined to a few larger accounts in a territory

Question 52

What are dispersed sales territory traits?

Answer 52

Sales decrease due to time wasted in travel

Question 53

What defines particular customers who will be served and the immediate supervisor?

Answer 53

Territory alignment