MKTG 2500 FINAL EXAM QUESTIONS WITH VERIFIED
ANSWERS
The role of a company's salespeople in creating value for customers and building
customers relationships - Answers - An individual representing a company to customers
by performing one or more of the following activities: prospecting, communicating,
selling, service, information gathering, and relationship building.
The 6 major sales force management steps - Answers - 1. Designing sales force
strategy and structure
2. Recruiting and selecting salespeople
3. Training people
4. Compensating salespeople
5. Supervising salespeople
6. Evaluating salespeople
Define the personal selling process - Answers - Prospecting, pre-approach, approach,
presentation, meeting objections, closing the sale, the follow-up
Distinguish between the transaction-oriented marketing and relationship marketing -
Answers - Transaction oriented marketing: business strategy that focuses on single
"point of sale" transaction. Relationship marketing: strategy designed to foster customer
loyalty, interaction and long-term engagement
Define direct marketing - Answers - Connecting directly with carefully targeted
segments or individuals consumers, often on a one-to-one, interactive basis
Benefits to customers due to direct marketing - Answers - Convenient, private, ready
access to products and information, immediate and interactive
Benefits to sellers due to direct marketing - Answers - Powerful tool for building
customer relationships, target small groups or individuals, tailor offers to individual
needs, timed to reach prospect at the right moment, gives access to buyers they could
not reach through other channels, offers a low-cost, efficient way to reach markets.
Major forms for direct marketing - Answers - Telephone marketing, direct mail
marketing, catalog marketing, direct response TV, kiosk marketing
Identify the major forces shaping the digital age - Answers - Digitalization and
connectivity, brick and mortar, click and mortar
What is digitalization and connectivity - Answers - The flow of digital information
requires connectivity: intranets, extranets, the internet
, What is brick and mortar - Answers - Business model that has been highly successful
What is click and mortar - Answers - Firm often face disintermediation from click only
competitors
How companies have responded to the internet with e-business strategies - Answers -
Uses electronic means and platforms to conduct business
Describe the four major e-commerce domains - Answers - B2C: business to consumer
B2B: business to business
C2C: consumer to consumer
C2B: consumer to business
B2C - Answers - Business to consumer: Online consumers
B2B - Answers - Business to business: open trading networks, privates trading networks
C2C - Answers - Consumer to consumer: websites help consumers exchange goods or
information, auction sites facilitate the exchange process, newsgroups/forums
C2B - Answers - Consumer to business: Allow consumers to search out sellers, learn
about offers, initiate purchase, or dictate purchase terms, some sites facilitate the
feedback process between customers and companies
How companies use e-commerce to profitably deliver greater value to customers -
Answers - Facilities the sale of products and services by electronic means
The challenge that e-commerce presents for the future - Answers - The promise: a few
click-only companies may succeed, most companies will integrate online marketing into
the overall marketing mix, rather than treat it as separate component
Identify the three major forms of international marketing organizations - Answers -
Export department, international division, global organization
Personal selling - Answers - Personal customer interactions by the firms sales force for
the purpose of engaging customers, making sales, and building customer relationships
Salesperson - Answers - An individual who represents a company to customers by
performing one or more of the following activities: prospecting, communicating, selling,
servicing, information gathering, and relationship building
Sales force management - Answers - Analyzing, planning, implementing, and rate of
return on investment
ANSWERS
The role of a company's salespeople in creating value for customers and building
customers relationships - Answers - An individual representing a company to customers
by performing one or more of the following activities: prospecting, communicating,
selling, service, information gathering, and relationship building.
The 6 major sales force management steps - Answers - 1. Designing sales force
strategy and structure
2. Recruiting and selecting salespeople
3. Training people
4. Compensating salespeople
5. Supervising salespeople
6. Evaluating salespeople
Define the personal selling process - Answers - Prospecting, pre-approach, approach,
presentation, meeting objections, closing the sale, the follow-up
Distinguish between the transaction-oriented marketing and relationship marketing -
Answers - Transaction oriented marketing: business strategy that focuses on single
"point of sale" transaction. Relationship marketing: strategy designed to foster customer
loyalty, interaction and long-term engagement
Define direct marketing - Answers - Connecting directly with carefully targeted
segments or individuals consumers, often on a one-to-one, interactive basis
Benefits to customers due to direct marketing - Answers - Convenient, private, ready
access to products and information, immediate and interactive
Benefits to sellers due to direct marketing - Answers - Powerful tool for building
customer relationships, target small groups or individuals, tailor offers to individual
needs, timed to reach prospect at the right moment, gives access to buyers they could
not reach through other channels, offers a low-cost, efficient way to reach markets.
Major forms for direct marketing - Answers - Telephone marketing, direct mail
marketing, catalog marketing, direct response TV, kiosk marketing
Identify the major forces shaping the digital age - Answers - Digitalization and
connectivity, brick and mortar, click and mortar
What is digitalization and connectivity - Answers - The flow of digital information
requires connectivity: intranets, extranets, the internet
, What is brick and mortar - Answers - Business model that has been highly successful
What is click and mortar - Answers - Firm often face disintermediation from click only
competitors
How companies have responded to the internet with e-business strategies - Answers -
Uses electronic means and platforms to conduct business
Describe the four major e-commerce domains - Answers - B2C: business to consumer
B2B: business to business
C2C: consumer to consumer
C2B: consumer to business
B2C - Answers - Business to consumer: Online consumers
B2B - Answers - Business to business: open trading networks, privates trading networks
C2C - Answers - Consumer to consumer: websites help consumers exchange goods or
information, auction sites facilitate the exchange process, newsgroups/forums
C2B - Answers - Consumer to business: Allow consumers to search out sellers, learn
about offers, initiate purchase, or dictate purchase terms, some sites facilitate the
feedback process between customers and companies
How companies use e-commerce to profitably deliver greater value to customers -
Answers - Facilities the sale of products and services by electronic means
The challenge that e-commerce presents for the future - Answers - The promise: a few
click-only companies may succeed, most companies will integrate online marketing into
the overall marketing mix, rather than treat it as separate component
Identify the three major forms of international marketing organizations - Answers -
Export department, international division, global organization
Personal selling - Answers - Personal customer interactions by the firms sales force for
the purpose of engaging customers, making sales, and building customer relationships
Salesperson - Answers - An individual who represents a company to customers by
performing one or more of the following activities: prospecting, communicating, selling,
servicing, information gathering, and relationship building
Sales force management - Answers - Analyzing, planning, implementing, and rate of
return on investment
