Products- 20 % Flashcards
(85 cards)
What are the eight steps in the sales and delivery cycle?
- Lead
- Opportunity
- Quote
- Contract
- Order
- Provisioning
- Activation
- Billing
Question: What does the acronym CPQ stand for in the context of the sales cycle?
A. Contract, Price, Quotation
B. Configure, Price, Quote
C. Customer, Product, Quality
D. Configure, Purchase, Quote
Answer: B. Configure, Price, Quote
Question: Which of the following tasks is NOT part of the Configure function in a CPQ system?
A. Configure product bundles
B. Use the context of commercial eligibility
C. Perform price calculations
D. Configure products, from simple to complex ones
Answer: C. Perform price calculations
Question: What is the main purpose of a CPQ system?
A. To manage employee performance
B. To track customer service inquiries
C. To quickly and accurately configure and price products, generate quotes, and create orders
D. To monitor social media engagement
Answer: C. To quickly and accurately configure and price products, generate quotes, and create orders
Question: Which of the following is NOT a common CPQ challenge in the sales cycle?
A. Margin erosion
B. Low customer satisfaction
C. Increased employee motivation
D. Frustrated employees
Answer: C. Increased employee motivation
Question: What is a recent trend in CPQ systems that Sophia discovered?
A. Decreased focus on user experience
B. A move toward self-service and omnichannel support
C. Lack of industry-specific solutions
D. Reduction in built-in intelligence
Answer: B. A move toward self-service and omnichannel support
Question: What is the primary difference between Salesforce CPQ and Billing and Salesforce Industries CPQ?
a) Industries CPQ is only for communications companies.
b) Salesforce CPQ is for small businesses, while Industries CPQ is for large enterprises.
c) Industries CPQ is optimized for specific industries with industry-specific processes, product models, and structures.
d) There is no significant difference between the two solutions.
Answer: c) Industries CPQ is optimized for specific industries with industry-specific processes, product models, and structures.
Question: Which of the following challenges can Industries CPQ help Infiwave solve?
a) Accurate quotes
b) Fast and efficient order capture
c) Reduced order fallout
d) All of the above
Answer: d) All of the above
Question: Industries CPQ is built natively and additively on which platform?
a) Microsoft Azure
b) Salesforce Platform
c) Amazon Web Services
d) Google Cloud Platform
Answer: b) Salesforce Platform
Question: How does Industries CPQ ensure that sales reps create accurate and complete quotes?
a) It uses context-aware product information and validation at key stages in the quotation process.
b) It requires manual checks by the sales manager.
c) It relies on external systems for validation.
d) It does not offer any validation features.
Answer: a) It uses context-aware product information and validation at key stages in the quotation process.
Question: Which of the following is a key strength of Industries CPQ?
a) Innovation
b) Industry-specificity
c) Extensibility
d) All of the above
Answer: d) All of the above
Question: What is the purpose of Industries CPQ’s shared catalog?
A) To store customer data
B) To provide a single view for browsing, configuring, and pricing offers
C) To track sales team performance
D) To manage company resources
Answer: B
Question: Which of the following are part of the Industries CPQ pricing system components?
A) Recurring charges
B) One-time charges
C) Discounts
D) All of the above
Answer: D
Question: What is the role of context rules in Industries CPQ?
A) To manage company resources
B) To filter products, promotions, and price lists in the shared catalog
C) To track sales team performance
D) To provide a single view for browsing, configuring, and pricing offers
Answer: B
Flashcard 4:
Question: In Salesforce Industries CPQ, what is an asset?
A) A resource owned by the company
B) A product or service the customer has purchased
C) A rule created by the product administrator
D) A type of pricing component
Answer: B
Question: What can be done using Industries CPQ advanced rules?
A) Recommend upsell and cross-sell options
B) Prevent the addition of incompatible items to a quote
C) Reduce configuration options based on customer selections
D) All of the above
Answer: D
Question 1: What does Industries CPQ integrate with to automatically generate and manage proposals and contracts based on completed quotes?
A. Shared Catalog
B. Contract Lifecycle Management (CLM)
C. Enterprise Product Catalog (EPC)
D. OmniStudio
E. Industries Order Management
Answer: B. Contract Lifecycle Management (CLM)
Explanation: Industries CPQ integrates with Contract Lifecycle Management (CLM) to automatically generate and manage proposals and contracts based on completed quotes. Anytime a sales rep changes a quote, they can regenerate the contract and send it to the customer for review and signature.
Question 2: Which feature of Industries CPQ allows resources to be dynamically added or removed based on the level of data traffic?
A. Industry Data Model
B. Digital Channels
C. Elastic Scaling
D. Shared Catalog
E. Frame Agreements
Answer: C. Elastic Scaling
Explanation: Elastic scaling is a feature that allows for resources to be dynamically added or removed based on the level of data traffic. This is used in Industries Digital Commerce for high-volume browsing and configuration of product offers on self-service channels.
Question 3: Which tool supports customization, integration, and automation of Industries CPQ?
A. OmniStudio
B. Digital Commerce
C. Enterprise Product Catalog (EPC)
D. Industries Order Management
E. Shared Catalog
Answer: A. OmniStudio
Explanation: OmniStudio tools support customization, integration, and automation of Industries CPQ. For example, you can use OmniStudio tools to create guided selling flows and call scripts, and deploy them to Industries CPQ for your sales agents.
Question 4: What is the purpose of the Shared Catalog in Industries CPQ?
A. To provide a single point of truth for commercial product and service information
B. To manage the full document lifecycle of contracts
C. To enable high-volume browsing and configuration of product offers
D. To integrate with Salesforce Marketing Cloud, Sales Cloud, and Service Cloud
E. To orchestrate and fulfill orders
Answer: A. To provide a single point of truth for commercial product and service information
Explanation: The Shared Catalog in Industries CPQ provides a single point of truth for commercial product and service information. It empowers product managers to quickly create, test, launch, and update new product and service offerings from reusable components.
Question 5: Which Industries CPQ business application supports advertising sales teams in acquiring new customers, generating quotes and insertion orders, and configuring orders?
A. Enterprise Sales Management (ESM)
B. Mobile Subscription Management (MSM)
C. Advertising Sales Management
D. Subscriber Lifecycle Management
E. Energy & Utilities Contact Center Console
Answer: C. Advertising Sales Management
Explanation: Advertising Sales Management is an Industries CPQ business application that supports advertising sales teams in acquiring new customers, generating quotes and insertion orders, and configuring orders.
Question 1: What type of transformation approach introduces Industries CPQ as the first phase of a longer-term program that eventually phases in the replacement of legacy systems with the appropriate industry cloud?
A. Digital Customer Experience
B. Evolutionary
C. Greenfield
D. Cloud Hosting
E. Customer-focused
Answer: B. Evolutionary
Explanation: An evolutionary transformation approach introduces Industries CPQ as the first phase of a longer-term program that eventually phases in the replacement of legacy systems with the appropriate industry cloud. This approach provides short-term business wins with low risk to drive long-term digital transformation success.
Question 2: Which transformation approach is used when a business wants to introduce an entirely new product family and can build all relevant systems starting with a clean slate?
A. Digital Customer Experience
B. Evolutionary
C. Greenfield
D. Cloud Hosting
E. Customer-focused
Answer: C. Greenfield
Explanation: A greenfield transformation approach is used when a business wants to introduce an entirely new product family and can build all relevant systems starting with a clean slate. This approach allows for quick implementation, typically in under a year, as the implementation team makes the most of prebuilt integrations.
Question 3: In which transformation approach does Industries CPQ integrate with existing systems in an organization to achieve a specific customer-focused goal?
A. Digital Customer Experience
B. Evolutionary
C. Greenfield
D. Cloud Hosting
E. Business Process Transformation
Answer: A. Digital Customer Experience
Explanation: With a digital customer experience transformation, Industries CPQ integrates with the existing systems in an organization. This approach is used when the business has a specific customer-focused goal, such as improving customer self-service across specific product families in a short time.