WGU D099 SALES MANAGEMENT QUESTIONS &
ANSWERS
Initiators
Individuals who suggest purchasing a product or service for a business
Users
Individuals within an organization who will use the product being purchased
Gatekeepers
Individuals who will decide if and when one gets access to members of the buying
center
Co-marketing Agreements
An agreement where companies share resources to market their products together
Affiliative Relationships
A situation where the buyer needs extensive expertise from the seller to make a
decision
Functional Relationships
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
Stages of B2B Buying Process
1. Recognize the need
2. Define the need
3. Search for suppliers
4. Bid analysis
5. Supplier selection
6. Order placement
7. Performance review
CRM Process Cycle
,1. Knowledge discovery
2. Market planning
3. Customer interaction
4. Analysis and refinement
Request for Proposals (RFP)
An invitation to submit a bid to supply a good or service
Organizational Buying Types
1. Producer
2. Reseller
3. Organization
Producer (Organizational Buying Type)
A B2B company that purchases parts, products, or ingredients to produce other goods
and services to sell to other companies or consumers.
Reseller (Organizational Buying Type)
A B2B company that buys finished goods to sell, lease, or rent to other companies or
consumers.
Organization (Organizational Buying Type)
A government agency or nonprofit group that purchases products or services to serve or
sell to its constituents.
Strategic Partnership
A partnership in which the buyer and seller commit resources to generate growth for
both parties
Fit Data
Includes attributes about a customer, such as age, income levels, education, and race
3 V's of Big Data
Volume, Velocity, Variety
Sales Analytics
, 1. Collection - Set goals, Collect data
2. Processing - Sort & Organize
3. Analysis - Visualization & Analysis, more?
4. Interpretation - Answer the question, Decision-making
Descriptive Analytics
The use of data to understand past and current business performance and make
informed decisions. (What happened?)
Diagnostic Analytics
Procedures that explore the current data to determine why something has happened the
way it has, typically comparing the data to a benchmark. (Why did it happen?)
Predictive Analytics
Extracts information from data and uses it to predict future trends and identify
behavioral patterns. (What will happen?)
1. Predictive Lead Scoring
2. Predictive Forecasting
3. Predictive Customer Attrition
4. Sales Performance Monitoring
Prescriptive Analytics
Techniques that create models indicating the best decision to make or course of action
to take. (How can we make it happen?)
Open-sourced Frameworks
A software in which the source code is available to the general public for use and/or
modification from its original design free of charge
Conversion Ratio
A measurement of how many customers move from one stage of the sales funnel to the
next
Predictive Lead Scoring
This is one of the primary uses of predictive sales analytics. It recognizes trends in the
customer journey and uses them to predict where the customer is in the sales pipeline.
Behavioral Data
ANSWERS
Initiators
Individuals who suggest purchasing a product or service for a business
Users
Individuals within an organization who will use the product being purchased
Gatekeepers
Individuals who will decide if and when one gets access to members of the buying
center
Co-marketing Agreements
An agreement where companies share resources to market their products together
Affiliative Relationships
A situation where the buyer needs extensive expertise from the seller to make a
decision
Functional Relationships
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
Stages of B2B Buying Process
1. Recognize the need
2. Define the need
3. Search for suppliers
4. Bid analysis
5. Supplier selection
6. Order placement
7. Performance review
CRM Process Cycle
,1. Knowledge discovery
2. Market planning
3. Customer interaction
4. Analysis and refinement
Request for Proposals (RFP)
An invitation to submit a bid to supply a good or service
Organizational Buying Types
1. Producer
2. Reseller
3. Organization
Producer (Organizational Buying Type)
A B2B company that purchases parts, products, or ingredients to produce other goods
and services to sell to other companies or consumers.
Reseller (Organizational Buying Type)
A B2B company that buys finished goods to sell, lease, or rent to other companies or
consumers.
Organization (Organizational Buying Type)
A government agency or nonprofit group that purchases products or services to serve or
sell to its constituents.
Strategic Partnership
A partnership in which the buyer and seller commit resources to generate growth for
both parties
Fit Data
Includes attributes about a customer, such as age, income levels, education, and race
3 V's of Big Data
Volume, Velocity, Variety
Sales Analytics
, 1. Collection - Set goals, Collect data
2. Processing - Sort & Organize
3. Analysis - Visualization & Analysis, more?
4. Interpretation - Answer the question, Decision-making
Descriptive Analytics
The use of data to understand past and current business performance and make
informed decisions. (What happened?)
Diagnostic Analytics
Procedures that explore the current data to determine why something has happened the
way it has, typically comparing the data to a benchmark. (Why did it happen?)
Predictive Analytics
Extracts information from data and uses it to predict future trends and identify
behavioral patterns. (What will happen?)
1. Predictive Lead Scoring
2. Predictive Forecasting
3. Predictive Customer Attrition
4. Sales Performance Monitoring
Prescriptive Analytics
Techniques that create models indicating the best decision to make or course of action
to take. (How can we make it happen?)
Open-sourced Frameworks
A software in which the source code is available to the general public for use and/or
modification from its original design free of charge
Conversion Ratio
A measurement of how many customers move from one stage of the sales funnel to the
next
Predictive Lead Scoring
This is one of the primary uses of predictive sales analytics. It recognizes trends in the
customer journey and uses them to predict where the customer is in the sales pipeline.
Behavioral Data
