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D099 Study Guide Questions
Module 1
Q1: Discuss the 4 key objectives of a sales department, giving an example for each.
Generate customers and converting sales-trying to get a better conversion rate.
Retaining current customers- keeping good customer loyalty is key to a successful business.
Developing a sales forecast- they’re responsible for determining how much product can be sold during a
specific period.
Ensuring product-market fit- ensuring the product is meeting a need for customers.
Q2: Define Customer Relationship Management (CRM). Identify a few goals of CRM.
CRM systems that capture data about customers, also help marketers and salespeople better manage
customer relationships and meet their customer’s needs.
Capture new leads and move them through the sales process, support and manage relationships with
current customers to maximize the lifetime value of those relationships to the company, boost
productivity and lower the overall costs of marketing, sales, and account management.
Q3: What are the four elements that make up ethical behavior within an organization?
A written code of ethics and standards
Ethics training for executives, managers, and employees
Availability of advice on ethical situations
A system for confidential reporting
Q4: What is the relationship between sales and marketing?
They have the same goal of moving prospective customers through the purchasing process successfully.
Marketing attracts prospective customers to the business while sales attempt to convert these prospects
into paying customers.
Q5: Describe the buyer’s journey.
The process that customers follow when preparing to purchase a product or service.
Q6: Identify differences between Transactional, and Relationship selling.
Transactional focuses on short-term, single transactions, while Relationship focuses on long-term
relationship building to keep customers satisfied and consequently convince them to return and make
multiple purchases.
Q7: How does the Social Style Matrix help in Adaptive selling?
It describes how people behave so that you can adjust and adapt your selling style accordingly.
Q8: Define Customer lifetime value (CLV). How is CLV calculated?
CLV- a prediction of the net profit attributed to the entire future relationship with a customer.
The CLV= dollar value of purchases * gross profit percent * number of purchases
Q9: When a Business sells at a no loss no profit, e.g., a company invests $20/- in making a product and
then sells it to customers at $20/-, what is the Return on Investment (ROI)?
$0
Module 2
Q1: Identify 5 points of differences between B2B and B2C markets.
B2B- few potential customers, larger purchases, longer selling cycle, multiple influencers and decision-
makers, more difficult to identify those influencers and decision-makers.
B2C- many customers, small purchases, shorter selling cycle, low influencers, and decision-makers, easy
to identify said influencers and decision-makers.
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Q2: What are the different sales channels used by companies?
Retail, wholesale, direct-to-consumer, B2B
Q3: What is Key Account Management (KAM)? How does the Pareto principle apply to KAM?
KAM is the process of distinguishing a portfolio of accounts (customers) based on a set of criteria of
strategic importance to the company's long-term success. Then internal resources are allocated to
deliver services or products tailored to the customers' individual needs. KAM involves developing and
maintaining long-term, sustainable, and mutually beneficial relationships with these key accounts.
Pareto principle (also known as the rule of 80/20). This principle states that the ratio between cause and
effect is 80:20. In other words, 80% of effects come from 20% of causes or 80% of sales come from 20%
of the accounts. Treat these customers differently than those that buy on occasion. KAM is an effective
tool for distinguishing from this 20% of those clients of strategic importance for the company and
engaging with them in a deeper and more personalized relationship.
Q4: Identify the difference between the power skills and hard skills of salespeople.
Power skills- personal attributes- verbal communication, conflict resolution, empathy
Hard skills- teachable abilities- product knowledge, software skills, technology
Q5: What are the four essential skills needed for any salesperson to do the job well?
1. Ability to build rapport- It is essential to find a way to relate to the customer and show genuine
concern for the customer's needs during each interaction. Building strong relationships leads to
increased trust between the customer and salesperson and creates more opportunities for increased
sales and referrals.
2. Time management- It is vital to remember that time is essential. A salesperson should recognize that
the customer’s time is valuable and limited, as is the salesperson's own time.
3. Ability to conduct research- A salesperson must have accurate information about clients, market
trends, rival solutions, and other BI. Being able to conduct research and find reliable information enables
a salesperson to make better decisions, engage the right customers at the best time, and finalize sales.
4. Critical thinking and problem-solving- Critical thinking afford the ability to process the data by sifting
through the numbers for essential pieces of information to use in the sales process.
Q6: Identify the six steps in the sales process. Give at least two characteristics in each of the six steps.
1. Prospecting and qualifying- Conducting research to identify the people or companies that might be
interested in the product. You are identifying customers who are in the process of recognizing or have
already recognized, a need.
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2. Approach- Explain the reason for wanting an appointment and set a specific date and time. Try to
build interest in the coming meeting.
3. Presenting and Demonstrating- Explaining how the product meets the customer’s needs. Understand
the customer's needs well enough to be sure they are offering a solution the customer can use.
4. Handling objections- Answering customer questions and concerns. It is natural for your customer to
hesitate or have some concerns. These are called objections.
5. Closing the sale- Agreeing on the terms of the sale and finalizing the transaction. Sometimes a
salesperson must make several trial closes during a sales call, addressing further objections before the
customer is ready to buy. It may turn out, even at this stage in the process, that the product does not
meet the customer's needs.
6. Following up on the sale- Ensuring the customer is satisfied with the product or service delivered.
Helps ensure additional sales, customer referrals, and positive reviews, and it leads you back to the first
step in the selling process because it provides the opportunity to learn about new needs for this
customer or new customers through referrals.
Q7: What are the different phases in the sales funnel?
Leads, Suspects, Prospects, Customers
Q8: Identify the characteristics of the following levels in the sales funnel: Top of the Funnel; Middle of
the Funnel; Bottom of the funnel?
Top-Leads
a. marketing uses the opportunity to get customers' attention to provide information and create
interest in the product.
Middle- Suspects/Prospects
a. sales team's turn to focus on prospective customers by providing high-level product information
and addressing objections.
Bottom- Customer
a. sales team converts the prospects into customers by focusing on the product as a solution and on
how it adds value and meets customers' needs.
Module 3
Q1: What are buying centers?
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The group is responsible for making the buying decisions in the company. Also known a as decision-
making unit(DMU)
Q2: Identify all the stakeholders in the buying process. Identify each of them with their unique
characteristics.
Initiators- These are the people within the organization who first see the need for the product. But they
do not stop there; whether they can make the final decision of what to buy or not, they start the
process. Sometimes they initiate the purchase by simply notifying purchasing agents of what is needed;
other times, they must lobby executives to consider making a change.
Users- These are the people and groups within the organization who use the product. Frequently, one or
more users serve as an initiator to improve what they produce or how they produce it, and they
certainly have the responsibility for implementing what is purchased. Users often have certain
specifications in mind for products and how they want them to perform.
Influencers- People who may or may not use the product but have experience or expertise that can help
improve the buying decision.
Gatekeepers- You will first have to get past several gatekeepers, or people who will decide if you get
access to members of the buying center. These are people such as buying assistants, personal assistants,
and other individuals who have some say about which sellers can get a foot in the door. Gatekeepers
often need to be courted as hard as prospective buyers do and generally have a lot of information about
what is going on behind the scenes and a certain amount of informal power.
Decision Makers- The decision maker is the person who makes the final purchasing decision. The decider
might or might not be the purchasing manager. Purchasing managers are generally solely responsible for
deciding upon routine purchases and small purchases. However, the decision to purchase a large,
expensive product that will have a major impact on a company is likely to be made by or with the help of
other people in the organization, perhaps even the CEO.
Buyers- Buyers are the people who sign the contract. They differ from the decision maker in that they
are focused on the financial aspects of the purchase and how the purchase can positively impact
organizational metrics. The buyer makes the selling transaction with the seller.
Q3: What are some of the differences between B2B and B2C buyers?
B2B- markets to individuals on behalf of a company, is more orientated, spend more money, more
complex.
B2C-targets individuals, emotional factors play a role, less task orientated, looks at cost more.
Q4: What are the stages in the organizational buying decision process?
Problem Recognition, General description of need, Product specifications, Supplier search, Acquisition
and analysis of proposals, Supplier Search, Selection of order routine, Performance review
Q5: What is the difference between a straight buyback, a New-Task purchase, and a Modified rebuy?
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D099 Study Guide Questions
Module 1
Q1: Discuss the 4 key objectives of a sales department, giving an example for each.
Generate customers and converting sales-trying to get a better conversion rate.
Retaining current customers- keeping good customer loyalty is key to a successful business.
Developing a sales forecast- they’re responsible for determining how much product can be sold during a
specific period.
Ensuring product-market fit- ensuring the product is meeting a need for customers.
Q2: Define Customer Relationship Management (CRM). Identify a few goals of CRM.
CRM systems that capture data about customers, also help marketers and salespeople better manage
customer relationships and meet their customer’s needs.
Capture new leads and move them through the sales process, support and manage relationships with
current customers to maximize the lifetime value of those relationships to the company, boost
productivity and lower the overall costs of marketing, sales, and account management.
Q3: What are the four elements that make up ethical behavior within an organization?
A written code of ethics and standards
Ethics training for executives, managers, and employees
Availability of advice on ethical situations
A system for confidential reporting
Q4: What is the relationship between sales and marketing?
They have the same goal of moving prospective customers through the purchasing process successfully.
Marketing attracts prospective customers to the business while sales attempt to convert these prospects
into paying customers.
Q5: Describe the buyer’s journey.
The process that customers follow when preparing to purchase a product or service.
Q6: Identify differences between Transactional, and Relationship selling.
Transactional focuses on short-term, single transactions, while Relationship focuses on long-term
relationship building to keep customers satisfied and consequently convince them to return and make
multiple purchases.
Q7: How does the Social Style Matrix help in Adaptive selling?
It describes how people behave so that you can adjust and adapt your selling style accordingly.
Q8: Define Customer lifetime value (CLV). How is CLV calculated?
CLV- a prediction of the net profit attributed to the entire future relationship with a customer.
The CLV= dollar value of purchases * gross profit percent * number of purchases
Q9: When a Business sells at a no loss no profit, e.g., a company invests $20/- in making a product and
then sells it to customers at $20/-, what is the Return on Investment (ROI)?
$0
Module 2
Q1: Identify 5 points of differences between B2B and B2C markets.
B2B- few potential customers, larger purchases, longer selling cycle, multiple influencers and decision-
makers, more difficult to identify those influencers and decision-makers.
B2C- many customers, small purchases, shorter selling cycle, low influencers, and decision-makers, easy
to identify said influencers and decision-makers.
Downloaded by madiba South Africa stuvia ()
, lOMoARcPSD|44532475
Q2: What are the different sales channels used by companies?
Retail, wholesale, direct-to-consumer, B2B
Q3: What is Key Account Management (KAM)? How does the Pareto principle apply to KAM?
KAM is the process of distinguishing a portfolio of accounts (customers) based on a set of criteria of
strategic importance to the company's long-term success. Then internal resources are allocated to
deliver services or products tailored to the customers' individual needs. KAM involves developing and
maintaining long-term, sustainable, and mutually beneficial relationships with these key accounts.
Pareto principle (also known as the rule of 80/20). This principle states that the ratio between cause and
effect is 80:20. In other words, 80% of effects come from 20% of causes or 80% of sales come from 20%
of the accounts. Treat these customers differently than those that buy on occasion. KAM is an effective
tool for distinguishing from this 20% of those clients of strategic importance for the company and
engaging with them in a deeper and more personalized relationship.
Q4: Identify the difference between the power skills and hard skills of salespeople.
Power skills- personal attributes- verbal communication, conflict resolution, empathy
Hard skills- teachable abilities- product knowledge, software skills, technology
Q5: What are the four essential skills needed for any salesperson to do the job well?
1. Ability to build rapport- It is essential to find a way to relate to the customer and show genuine
concern for the customer's needs during each interaction. Building strong relationships leads to
increased trust between the customer and salesperson and creates more opportunities for increased
sales and referrals.
2. Time management- It is vital to remember that time is essential. A salesperson should recognize that
the customer’s time is valuable and limited, as is the salesperson's own time.
3. Ability to conduct research- A salesperson must have accurate information about clients, market
trends, rival solutions, and other BI. Being able to conduct research and find reliable information enables
a salesperson to make better decisions, engage the right customers at the best time, and finalize sales.
4. Critical thinking and problem-solving- Critical thinking afford the ability to process the data by sifting
through the numbers for essential pieces of information to use in the sales process.
Q6: Identify the six steps in the sales process. Give at least two characteristics in each of the six steps.
1. Prospecting and qualifying- Conducting research to identify the people or companies that might be
interested in the product. You are identifying customers who are in the process of recognizing or have
already recognized, a need.
Downloaded by madiba South Africa stuvia ()
, lOMoARcPSD|44532475
2. Approach- Explain the reason for wanting an appointment and set a specific date and time. Try to
build interest in the coming meeting.
3. Presenting and Demonstrating- Explaining how the product meets the customer’s needs. Understand
the customer's needs well enough to be sure they are offering a solution the customer can use.
4. Handling objections- Answering customer questions and concerns. It is natural for your customer to
hesitate or have some concerns. These are called objections.
5. Closing the sale- Agreeing on the terms of the sale and finalizing the transaction. Sometimes a
salesperson must make several trial closes during a sales call, addressing further objections before the
customer is ready to buy. It may turn out, even at this stage in the process, that the product does not
meet the customer's needs.
6. Following up on the sale- Ensuring the customer is satisfied with the product or service delivered.
Helps ensure additional sales, customer referrals, and positive reviews, and it leads you back to the first
step in the selling process because it provides the opportunity to learn about new needs for this
customer or new customers through referrals.
Q7: What are the different phases in the sales funnel?
Leads, Suspects, Prospects, Customers
Q8: Identify the characteristics of the following levels in the sales funnel: Top of the Funnel; Middle of
the Funnel; Bottom of the funnel?
Top-Leads
a. marketing uses the opportunity to get customers' attention to provide information and create
interest in the product.
Middle- Suspects/Prospects
a. sales team's turn to focus on prospective customers by providing high-level product information
and addressing objections.
Bottom- Customer
a. sales team converts the prospects into customers by focusing on the product as a solution and on
how it adds value and meets customers' needs.
Module 3
Q1: What are buying centers?
Downloaded by madiba South Africa stuvia ()
, lOMoARcPSD|44532475
The group is responsible for making the buying decisions in the company. Also known a as decision-
making unit(DMU)
Q2: Identify all the stakeholders in the buying process. Identify each of them with their unique
characteristics.
Initiators- These are the people within the organization who first see the need for the product. But they
do not stop there; whether they can make the final decision of what to buy or not, they start the
process. Sometimes they initiate the purchase by simply notifying purchasing agents of what is needed;
other times, they must lobby executives to consider making a change.
Users- These are the people and groups within the organization who use the product. Frequently, one or
more users serve as an initiator to improve what they produce or how they produce it, and they
certainly have the responsibility for implementing what is purchased. Users often have certain
specifications in mind for products and how they want them to perform.
Influencers- People who may or may not use the product but have experience or expertise that can help
improve the buying decision.
Gatekeepers- You will first have to get past several gatekeepers, or people who will decide if you get
access to members of the buying center. These are people such as buying assistants, personal assistants,
and other individuals who have some say about which sellers can get a foot in the door. Gatekeepers
often need to be courted as hard as prospective buyers do and generally have a lot of information about
what is going on behind the scenes and a certain amount of informal power.
Decision Makers- The decision maker is the person who makes the final purchasing decision. The decider
might or might not be the purchasing manager. Purchasing managers are generally solely responsible for
deciding upon routine purchases and small purchases. However, the decision to purchase a large,
expensive product that will have a major impact on a company is likely to be made by or with the help of
other people in the organization, perhaps even the CEO.
Buyers- Buyers are the people who sign the contract. They differ from the decision maker in that they
are focused on the financial aspects of the purchase and how the purchase can positively impact
organizational metrics. The buyer makes the selling transaction with the seller.
Q3: What are some of the differences between B2B and B2C buyers?
B2B- markets to individuals on behalf of a company, is more orientated, spend more money, more
complex.
B2C-targets individuals, emotional factors play a role, less task orientated, looks at cost more.
Q4: What are the stages in the organizational buying decision process?
Problem Recognition, General description of need, Product specifications, Supplier search, Acquisition
and analysis of proposals, Supplier Search, Selection of order routine, Performance review
Q5: What is the difference between a straight buyback, a New-Task purchase, and a Modified rebuy?
Downloaded by madiba South Africa stuvia ()
