MKT 437 EXAM 1 QUESTIONS AND
ANSWERS
What is the difference between transactional selling and relationship selling? - Correct
Answers -Transactional: transactions involving separate organizations, each entering
into an independent transaction.
Relationship: Narrows the vendor pool, improves efficiencies, works directly with
customers to solve problems
How has technology impacted the business of selling? - Correct Answers -*access from
phone
*access from computer
*electronic data interchange (EDI)
*efficient customer response (ECR)
*customer relationship management software (CRM)
How do ethics, or ethical standards impact the sales management and the role of sales
managers? - Correct Answers -It is impacted by the relationship with the salespeople
and also the interactions between salespeople and customers
Managers must influence ethical performance by example
Customers Q in CRM - Correct Answers -who are our customers
what do our customers want and expect
what is the value potential of our customers
Relationship Q in CRM - Correct Answers -What kind of relationship do we want to build
How do we foster exchange
How do we work together and share control
Managerial Decision Making - Correct Answers -Who are we
How do we organize to move value closer to our customers
How do we measure and manage our performance
How do we increase our capacity for change
What is the difference between leading and managing? - Correct Answers -Managing:
control, supervisor/boss, direct
Leading: Communicate, Coach/mentor/cheerleader, Empower to make decisions
, What are the components of an organizations external environment? - Correct Answers
-Economic
Legal and Political
Natural
Social and Cultural
Technological
What are the components of an organizations internal
environment? - Correct Answers -*Goals, objectives and culture
*Human Resources
*Financial Resources
*Production and Supply-chain capabilities
*Service Capabilities
*Research ad Development and Technological Capabilities
What is the role of "sellers" in todays selling environment? - Correct Answers -
What are the six steps involved in the selling process? - Correct Answers -1.
Prospecting for customers
2. Opening the relationship
3. Qualifying the prospect
4. Presenting the sales message
5. Closing the sale
6. Servicing the account
Attractiveness of sales careers? - Correct Answers -Challenging activities
Financial rewards
Favorable working conditions
Excellent opportunities for advancement
Success factors in selling - Correct Answers -*Listening Skills
*Follow-Up Skills
*Ability to Adapt
*Tenacity
Differences between B2B selling and B2C selling? - Correct Answers -B2C: most
people are involved in retail selling
B2B: more volume comes from industrial selling
Key factors tat have driven up the "cost of a sales call" - Correct Answers -The
involvement of non selling and administrative activities
Buying center - Correct Answers -It represents all the people who participate in buying
or influencing a product
ANSWERS
What is the difference between transactional selling and relationship selling? - Correct
Answers -Transactional: transactions involving separate organizations, each entering
into an independent transaction.
Relationship: Narrows the vendor pool, improves efficiencies, works directly with
customers to solve problems
How has technology impacted the business of selling? - Correct Answers -*access from
phone
*access from computer
*electronic data interchange (EDI)
*efficient customer response (ECR)
*customer relationship management software (CRM)
How do ethics, or ethical standards impact the sales management and the role of sales
managers? - Correct Answers -It is impacted by the relationship with the salespeople
and also the interactions between salespeople and customers
Managers must influence ethical performance by example
Customers Q in CRM - Correct Answers -who are our customers
what do our customers want and expect
what is the value potential of our customers
Relationship Q in CRM - Correct Answers -What kind of relationship do we want to build
How do we foster exchange
How do we work together and share control
Managerial Decision Making - Correct Answers -Who are we
How do we organize to move value closer to our customers
How do we measure and manage our performance
How do we increase our capacity for change
What is the difference between leading and managing? - Correct Answers -Managing:
control, supervisor/boss, direct
Leading: Communicate, Coach/mentor/cheerleader, Empower to make decisions
, What are the components of an organizations external environment? - Correct Answers
-Economic
Legal and Political
Natural
Social and Cultural
Technological
What are the components of an organizations internal
environment? - Correct Answers -*Goals, objectives and culture
*Human Resources
*Financial Resources
*Production and Supply-chain capabilities
*Service Capabilities
*Research ad Development and Technological Capabilities
What is the role of "sellers" in todays selling environment? - Correct Answers -
What are the six steps involved in the selling process? - Correct Answers -1.
Prospecting for customers
2. Opening the relationship
3. Qualifying the prospect
4. Presenting the sales message
5. Closing the sale
6. Servicing the account
Attractiveness of sales careers? - Correct Answers -Challenging activities
Financial rewards
Favorable working conditions
Excellent opportunities for advancement
Success factors in selling - Correct Answers -*Listening Skills
*Follow-Up Skills
*Ability to Adapt
*Tenacity
Differences between B2B selling and B2C selling? - Correct Answers -B2C: most
people are involved in retail selling
B2B: more volume comes from industrial selling
Key factors tat have driven up the "cost of a sales call" - Correct Answers -The
involvement of non selling and administrative activities
Buying center - Correct Answers -It represents all the people who participate in buying
or influencing a product
