Questions and Answers
The sales team of a reputable appliance retailer reaches out to their current
customers two weeks after a purchase to ensure their products have met their
customers' expectations and to determine if they have any other needs or wants.
How do the actions of the appliance retailer exemplify the primary role of sales in
a business? - ANSWER>>They are creating a customer base by building a
relationship with their customers.
A national restaurant chain is having financial trouble and wants to cut costs by
eliminating underperforming restaurants. Store managers were tasked with
reviewing their sales reports from the last quarter to help the executive team
make an informed decision about which restaurants to close.
What should the executive team use in the decision-making process? -
ANSWER>>Business intelligence (BI)
What is the relationship between sales and marketing? - ANSWER>>Marketing
attracts prospective customers to the business while sales attempt to convert
these prospects into paying customers.
How does personal selling offer an advantage over other forms of promotion? -
ANSWER>>Personal selling provides a detailed sales message that is adapted to
the interests of each customer.
,What is the main limitation of the AIDA model? - ANSWER>>The model assumes
consumers are passive and marketers are active during most of the buying
process.
What is transactional selling? - ANSWER>>A sales strategy that initially identifies
potential customers, offers the product, and attempts to quickly close the deal
What is adaptive selling? - ANSWER>>A sales approach that focuses on tailoring
the selling style to the customer's behavior
What is customer lifetime value (CLV)? - ANSWER>>The present value of all
potential business from the same customer throughout the span of that
customer's relationship with the company
What is an intermediary? - ANSWER>>People or businesses that connect buyers
and sellers together as a conduit for goods or services in the supply chain
A food distributor is analyzing data from their CRM to understand the status of
their accounts. They are specifically looking for those customers who consistently
make purchases with the company so they can offer promotional items to retain
those clients.
Which type of accounts is the food distributor specifically trying to identify? -
ANSWER>>Active accounts
What is the purpose of key account management (KAM)? - ANSWER>>To focus
efforts on building and sustaining long-term, jointly beneficial relationships with
major accounts
A sales manager for a major packaging distributor works with the sales team to
generate company growth and increase revenue by looking for opportunities with
current clients and seeking out potential clients.
,Which type of activity is this sales manager performing? - ANSWER>>Business
development
A global cell phone producer sets a target to sell one million new phone models
by the end of the second quarter. They send this figure to regional sales managers
who in turn guide the sales teams in meeting this target.
What is this target set by the company called? - ANSWER>>Sales quota
What is the difference between power skills and hard skills? - ANSWER>>Power
skills are personal attributes that help people effectively interact with others.
Hard skills are abilities that are easily measurable.
A salesperson was just given a new account to service. She decides that before
going to meet the client, she will research the client's website, find out
information about the company contact on social media, and look at CRM data to
see what the client activity has been in the last few months.
What essential skill is this salesperson utilizing? - ANSWER>>Research
A sales manager for a national insurance company is faced with unexpected
changes in the market and must manage his team in meeting sales goals as these
changes arise. To do this, he sets up ongoing training sessions to improve the
sales team's knowledge of the market.
What type of managing skill is this sales manager utilizing? - ANSWER>>Coaching
A sales manager for a clothing distributor notices that one sales region is not
doing as well as the others. She develops a roadmap to better distribute the sales
team and direct the sales efforts in the underperforming region.
What process is the sales manager using? - ANSWER>>Strategic plan development
A software salesperson is meeting with a client to demonstrate new features of
their application and ANSWER questions as to why it brings value to the client's
, company. The salesperson also takes the opportunity to discuss with the client
why this software is better than the competitor's version and how it provides the
solutions the client needs.
What two sequential steps of the sales process is this salesperson applying? -
ANSWER>>Presenting and handling objections
How has the use of the internet and social media changed the selling process? -
ANSWER>>The internet and social media ensure that each step now includes
increased collaboration between buyers and sellers.
At which stage of the sales funnel does the sales team focus on converting
prospects into paying customers? - ANSWER>>BOFU
bottom of the sales funnel (BOFU)
A consumer is looking to buy a new house. He has chosen the neighborhood,
price point, and type of house he is looking for. He has even been pre-approved
for the loan. He contacts a real estate agent and asks to see houses that match his
requirements.
At which stage is this consumer on the buyer's journey? - ANSWER>>Desire
What are the 4Ps of Marketing mix? - ANSWER>>Price, Place, Product, Promotion
What are the 4 stages of the product lifecycle? - ANSWER>>introduction, growth,
maturity, decline
T or F: Sales are slow and profits are low during the introductory phase. -
ANSWER>>True
Dina's PetMart has started offering free delivery to customers within a five mile
radius of the physical store. What part of the marketing mix does this strategy
represent? - ANSWER>>Place