WGU D099 Sales Management OA ACTUAL
EXAM QUESTIONS AND (elaborated)
WITH COMPLETE SOLUTIONS
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
Modular structure - ANSWER>>Divides the business into small, tightly knit
strategic business units (SBUs), which focus on specific elements of the
organizational process
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
Strategic business units (SBUs) - ANSWER>>A profit center that focuses on
product offering and market segment
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
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)
,Business intelligence (BI) - ANSWER>>The use of data in an enterprise to facilitate
decision-making
Big data analytics - ANSWER>>Large, complex data sets that require non-
traditional data processing software to predict trends and forecasts
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.
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
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
Promotional techniques - ANSWER>>Advertising, sales promotion, and publicity,
or creating new sales channels or new products
Promotional mix - ANSWER>>The combination of advertising, personal selling,
sales promotion, and public relations used to promote a product
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 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.
Transactional selling - ANSWER>>Focuses on short-term, often single,
transactions.
Relationship selling - ANSWER>>Focused on long-term relationship building to
keep customers satisfied and consequently convince them to return and make
multiple purchases.
Adaptive selling - ANSWER>>Using social styles to customize a sales approach to
the specific customer
Social style matrix - ANSWER>>A model that categorizes people according to
personality traits and how they interact with others
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
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
Amiables - ANSWER>>Focus on "why," establish a personal relationship,
demonstrate personal commitment, and work as a team. High responsiveness and
low assertiveness
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
, 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
Customer lifetime value (CLV) - ANSWER>>A prediction of the net profit
attributed to the entire future relationship with a customer
Return on customer investment - ANSWER>>A metric that measures how much
value a business can create per customer
Value proposition - ANSWER>>An innovation, service, or feature intended to
make a company or product attractive to customers
A value proposition should be - ANSWER>>Clear (short and direct), compelling
(motivates), and differentiating (sets the offering aprt).
Equation for ROI - ANSWER>>ROI = net profit ÷ investment × 100
Return on investment (ROI) - ANSWER>>A performance measure used to evaluate
the efficiency of an investment or compare the efficiency of a number of different
investments
Equation for CLV - ANSWER>>CLV = dollar value of purchases x gross profit
percent x number of purchases
Sales channels - ANSWER>>A way of bringing products or services to market so
they can be purchased by consumers
Distribution channels - ANSWER>>A chain of businesses or intermediaries through
which a good or service passes until it reaches the final buyer or the end
consumer
EXAM QUESTIONS AND (elaborated)
WITH COMPLETE SOLUTIONS
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
Modular structure - ANSWER>>Divides the business into small, tightly knit
strategic business units (SBUs), which focus on specific elements of the
organizational process
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
Strategic business units (SBUs) - ANSWER>>A profit center that focuses on
product offering and market segment
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
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)
,Business intelligence (BI) - ANSWER>>The use of data in an enterprise to facilitate
decision-making
Big data analytics - ANSWER>>Large, complex data sets that require non-
traditional data processing software to predict trends and forecasts
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.
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
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
Promotional techniques - ANSWER>>Advertising, sales promotion, and publicity,
or creating new sales channels or new products
Promotional mix - ANSWER>>The combination of advertising, personal selling,
sales promotion, and public relations used to promote a product
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 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.
Transactional selling - ANSWER>>Focuses on short-term, often single,
transactions.
Relationship selling - ANSWER>>Focused on long-term relationship building to
keep customers satisfied and consequently convince them to return and make
multiple purchases.
Adaptive selling - ANSWER>>Using social styles to customize a sales approach to
the specific customer
Social style matrix - ANSWER>>A model that categorizes people according to
personality traits and how they interact with others
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
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
Amiables - ANSWER>>Focus on "why," establish a personal relationship,
demonstrate personal commitment, and work as a team. High responsiveness and
low assertiveness
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
, 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
Customer lifetime value (CLV) - ANSWER>>A prediction of the net profit
attributed to the entire future relationship with a customer
Return on customer investment - ANSWER>>A metric that measures how much
value a business can create per customer
Value proposition - ANSWER>>An innovation, service, or feature intended to
make a company or product attractive to customers
A value proposition should be - ANSWER>>Clear (short and direct), compelling
(motivates), and differentiating (sets the offering aprt).
Equation for ROI - ANSWER>>ROI = net profit ÷ investment × 100
Return on investment (ROI) - ANSWER>>A performance measure used to evaluate
the efficiency of an investment or compare the efficiency of a number of different
investments
Equation for CLV - ANSWER>>CLV = dollar value of purchases x gross profit
percent x number of purchases
Sales channels - ANSWER>>A way of bringing products or services to market so
they can be purchased by consumers
Distribution channels - ANSWER>>A chain of businesses or intermediaries through
which a good or service passes until it reaches the final buyer or the end
consumer
