D099 WGU Sales Management
Question 1.
Functional relationships
ANSWER
Limited, ongoing relationships that develop when a buyer continues to purchase a product from a seller out of habit, as long as its needs are met
Question 2.
Modular structure
ANSWER
Divides the business into small, tightly knit strategic business units (SBUs), which focus on specific elements of the organizational process
Question 3.
Value chain
ANSWER
The process or activities by which a company adds value to a product, including production, marketing, and the provision of after-sales service
Question 4.
Strategic business units (SBUs)
ANSWER
A profit center that focuses on product offering and market segment
Question 5.
Sustainable competitive advantage
ANSWER
Company assets, attributes, or abilities that are difficult to duplicate or exceed and provide a superior or favorable long-term position over competitors
Question 6.
Factors that can help a business develop a sustainable competitive advantage
ANSWER
Customer loyalty, location, distribution and information systems (Getting products at a cheap price and selling them at a reasonable price), unique
merchandise, vendor relations, customer service, and multiple source advantage (being widely recognized by your strengths)
Question 7.
Business intelligence (BI)
ANSWER
The use of data in an enterprise to facilitate decision-making
, Question 8.
Big data analytics
ANSWER
Large, complex data sets that require non-traditional data processing software to predict trends and forecasts
Question 9.
Four elements that make up ethical behavior within an organization
ANSWER
A written code of ethics and standards. Ethics training to executives, managers, and employees. Availability of advice on ethical situations (advice lines or
ethics offices). A system for confidential reporting.
Question 10.
Integrated marketing communications (IMC)
ANSWER
The careful coordination of all promotional activities—media advertising, sales promotion, personal selling, and public relations, as well as direct marketing,
packaging, and other forms of promotion—to produce a consistent, unified message that is customer focused
Question 11.
Marketing concept
ANSWER
Identifying consumer needs and then producing the goods or services that will satisfy those needs while making a profit for the organization
Question 12.
Promotional techniques
ANSWER
Advertising, sales promotion, and publicity, or creating new sales channels or new products
Question 13.
Promotional mix
ANSWER
The combination of advertising, personal selling, sales promotion, and public relations used to promote a product
Question 14.
The main limitation of the AIDA model
ANSWER
The model assumes consumers are passive and marketers are active during most of the buying process.
, Question 15.
What is the main difference between the AIDA model of the buyer's journey and the six steps model of the buying process?
ANSWER
The AIDA model assumes that the customer experience ends at the purchase while the six-step process considers the after-purchase relationship with the
customer.
Question 16.
Transactional selling
ANSWER
Focuses on short-term, often single, transactions.
Question 17.
Relationship selling
ANSWER
Focused on long-term relationship building to keep customers satisfied and consequently convince them to return and make multiple purchases.
Question 18.
Adaptive selling
ANSWER
Using social styles to customize a sales approach to the specific customer
Question 19.
Social style matrix
ANSWER
A model that categorizes people according to personality traits and how they interact with others
Question 20.
Analyticals
ANSWER
Focus on "how,"include facts, do not challenge their facts, demonstrate results, mention guarantees and warranties, give them time to decide, communicate
the pros and cons, and provide history, data, financial details. Low responsiveness and low assertiveness
Question 21.
Drivers
ANSWER
Focus on "what," get to the point quickly, provide options, use facts, focus on results, provide timelines, and make them feel in control. Low responsiveness
and high assertiveness
, Question 22.
Amiables
ANSWER
Focus on "why," establish a personal relationship, demonstrate personal commitment, and work as a team. High responsiveness and low assertiveness
Question 23.
Expressives
ANSWER
Focus on "who," take extra time to discuss everything, give them recognition and approval, ask them how they feel about the product or service, focus on the
big picture, and use facts and figures to demonstrate what is possible. High responsiveness and high assertiveness
Question 24.
Consultative selling
ANSWER
Sales approach where the seller becomes a trusted advisor to the customer and builds a relationship to truly understand his or her needs
Question 25.
Customer life-time value (CLV)
ANSWER
A prediction of the net profit attributed to the entire future relationship with a customer
Question 26.
Return on customer investment
ANSWER
A metric that measures how much value a business can create per customer
Question 27.
Value proposition
ANSWER
An innovation, service, or feature intended to make a company or product attractive to customers
Question 28.
A value proposition should be
ANSWER
Clear (short and direct), compelling (motivates), and differentiating (sets the offering aprt).
Question 29.
Equation for ROI
ANSWER
ROI = net profit ÷ investment × 100
Question 1.
Functional relationships
ANSWER
Limited, ongoing relationships that develop when a buyer continues to purchase a product from a seller out of habit, as long as its needs are met
Question 2.
Modular structure
ANSWER
Divides the business into small, tightly knit strategic business units (SBUs), which focus on specific elements of the organizational process
Question 3.
Value chain
ANSWER
The process or activities by which a company adds value to a product, including production, marketing, and the provision of after-sales service
Question 4.
Strategic business units (SBUs)
ANSWER
A profit center that focuses on product offering and market segment
Question 5.
Sustainable competitive advantage
ANSWER
Company assets, attributes, or abilities that are difficult to duplicate or exceed and provide a superior or favorable long-term position over competitors
Question 6.
Factors that can help a business develop a sustainable competitive advantage
ANSWER
Customer loyalty, location, distribution and information systems (Getting products at a cheap price and selling them at a reasonable price), unique
merchandise, vendor relations, customer service, and multiple source advantage (being widely recognized by your strengths)
Question 7.
Business intelligence (BI)
ANSWER
The use of data in an enterprise to facilitate decision-making
, Question 8.
Big data analytics
ANSWER
Large, complex data sets that require non-traditional data processing software to predict trends and forecasts
Question 9.
Four elements that make up ethical behavior within an organization
ANSWER
A written code of ethics and standards. Ethics training to executives, managers, and employees. Availability of advice on ethical situations (advice lines or
ethics offices). A system for confidential reporting.
Question 10.
Integrated marketing communications (IMC)
ANSWER
The careful coordination of all promotional activities—media advertising, sales promotion, personal selling, and public relations, as well as direct marketing,
packaging, and other forms of promotion—to produce a consistent, unified message that is customer focused
Question 11.
Marketing concept
ANSWER
Identifying consumer needs and then producing the goods or services that will satisfy those needs while making a profit for the organization
Question 12.
Promotional techniques
ANSWER
Advertising, sales promotion, and publicity, or creating new sales channels or new products
Question 13.
Promotional mix
ANSWER
The combination of advertising, personal selling, sales promotion, and public relations used to promote a product
Question 14.
The main limitation of the AIDA model
ANSWER
The model assumes consumers are passive and marketers are active during most of the buying process.
, Question 15.
What is the main difference between the AIDA model of the buyer's journey and the six steps model of the buying process?
ANSWER
The AIDA model assumes that the customer experience ends at the purchase while the six-step process considers the after-purchase relationship with the
customer.
Question 16.
Transactional selling
ANSWER
Focuses on short-term, often single, transactions.
Question 17.
Relationship selling
ANSWER
Focused on long-term relationship building to keep customers satisfied and consequently convince them to return and make multiple purchases.
Question 18.
Adaptive selling
ANSWER
Using social styles to customize a sales approach to the specific customer
Question 19.
Social style matrix
ANSWER
A model that categorizes people according to personality traits and how they interact with others
Question 20.
Analyticals
ANSWER
Focus on "how,"include facts, do not challenge their facts, demonstrate results, mention guarantees and warranties, give them time to decide, communicate
the pros and cons, and provide history, data, financial details. Low responsiveness and low assertiveness
Question 21.
Drivers
ANSWER
Focus on "what," get to the point quickly, provide options, use facts, focus on results, provide timelines, and make them feel in control. Low responsiveness
and high assertiveness
, Question 22.
Amiables
ANSWER
Focus on "why," establish a personal relationship, demonstrate personal commitment, and work as a team. High responsiveness and low assertiveness
Question 23.
Expressives
ANSWER
Focus on "who," take extra time to discuss everything, give them recognition and approval, ask them how they feel about the product or service, focus on the
big picture, and use facts and figures to demonstrate what is possible. High responsiveness and high assertiveness
Question 24.
Consultative selling
ANSWER
Sales approach where the seller becomes a trusted advisor to the customer and builds a relationship to truly understand his or her needs
Question 25.
Customer life-time value (CLV)
ANSWER
A prediction of the net profit attributed to the entire future relationship with a customer
Question 26.
Return on customer investment
ANSWER
A metric that measures how much value a business can create per customer
Question 27.
Value proposition
ANSWER
An innovation, service, or feature intended to make a company or product attractive to customers
Question 28.
A value proposition should be
ANSWER
Clear (short and direct), compelling (motivates), and differentiating (sets the offering aprt).
Question 29.
Equation for ROI
ANSWER
ROI = net profit ÷ investment × 100
