Questions and Correct Answers Latest
2026
relationship selling - CORRECT ANSWERS-sales technique that focuses on the
interaction between the buyer and the salesperson rather than the price or details of the
product
value creation - CORRECT ANSWERS-the performance of actions that increase the worth
of goods, services, or even a business
sales process - CORRECT ANSWERS-incorporates actually selling the company's
products or service to its customers
personal selling - CORRECT ANSWERS-a type of selling that uses person-to-person
interaction to sell products and services
customer loyalty - CORRECT ANSWERS-having a positive attitude toward a product or
brand, which includes supportive behavior from the customer
brand trust - CORRECT ANSWERS-the willingness of the average consumer to rely on the
ability of the brand to perform its stated function
conversion rates - CORRECT ANSWERS-the percentage of prospective customers who
take a specific action you want
sales forecast - CORRECT ANSWERS-the process of estimating future sales
operational budget - CORRECT ANSWERS-a plan for expenditures required to maintain
the functioning of a business venture or public organization
product-market fit - CORRECT ANSWERS-degree to which a product satisfies a strong
market demand
corporate structure - CORRECT ANSWERS-an organization's different departments or
business units within a company to achieve its overall mission and goals
functional structure - CORRECT ANSWERS-an organization structure that groups
employees according to a specialized or similar set of roles or tasks
,modular structure - CORRECT ANSWERS-divides the business into small, tightly knit
SBUs, which focus on specific elements of the organizational process
strategic business unit - CORRECT ANSWERS-a profit center that focuses on product
offering and market segment
competitive advantage - CORRECT ANSWERS-a condition or circumstance that puts a
company in a favorable or superior business position
sustainable competitive advantage - CORRECT ANSWERS-company assets, attributes,
or abilities that are difficult to duplicate or exceed and provide a superior or favorable long-
term position over competitors
customer relationship management (CRM) - CORRECT ANSWERS-processes
implemented by a company to handle its contact with customers with the goal of creating a
unified customer experience to maximize retention
business intelligence (BI) - CORRECT ANSWERS-the use of data in an enterprise to
facilitate decision-making. It encompasses understanding the actual operation of the
company, as well as the anticipation of future events, with the aim of providing knowledge
to support business decisions
big data analytics - CORRECT ANSWERS-large, complex data sets that require non-
traditional data processing software to predict trends and forecasts
organizational ethics - CORRECT ANSWERS-the principles and standards by which
businesses operate and it is how an organization responds to an internal or external
stimulus
marketing concept - CORRECT ANSWERS-identifying customer needs and then
producing the goods or services that will satisfy those needs while making a profit for the
organization
"right" principle - CORRECT ANSWERS-getting the right goods or services to the right
people at the right place, time, and price, using the right promotional techniques
promotion - CORRECT ANSWERS-the attempt by marketers to inform, persuade, or
remind consumers and industrial users to engage in the exchange process
promotional mix - CORRECT ANSWERS-the combination of advertising, personal selling,
sales promotion, and public relations used to promote a product
integrated marketing communications (IMC) - CORRECT ANSWERS-the careful
coordination of all promotional activities to produce a consistent, unified message that is
customer focused
, customer journey - CORRECT ANSWERS-a framework that acknowledges a buyer's
progression through a research and decision process ultimately culminating in a purchase
AIDA - CORRECT ANSWERS-attention, interest, desire, action
transactional selling - CORRECT ANSWERS-sales strategy that involves focusing on
achieving quick sales without a significant attempt to form a long-term customer
relationship
adaptive selling - CORRECT ANSWERS-using social styles to customize a sales
approach to the specific customer
social style matrix - CORRECT ANSWERS-a model that categorizes people according to
personality traits and how they interact with others
analyticals - CORRECT ANSWERS-want to know "how"
drivers - CORRECT ANSWERS-wants to know "what"
amiables - CORRECT ANSWERS-want to know "why"
expressives - CORRECT ANSWERS-want to know "who"
law of psychological reciprocity - CORRECT ANSWERS-people tend to treat us the same
way we treat them
consultative selling - CORRECT ANSWERS-sales approach where the seller becomes a
trusted advisor to the customer and builds a relationship to truly understand his or her
needs
value exchange - CORRECT ANSWERS-the quantified worth of one good or service
expressed in terms of worth of another
customer lifetime value (CLV) - CORRECT ANSWERS-a prediction of the net profit
attributed to the entire future relationship with a customer
return on customer investment - CORRECT ANSWERS-a metric that measures how much
value a business can create per customer
value - CORRECT ANSWERS-the measure of the benefit gained from a product or service
relative to the full cost of the item
value proposition - CORRECT ANSWERS-an innovation, service, or feature intended to
make a company or product attractive to customers