MKT 315 EXAM 1 ACTUAL TEST QUESTIONS
AND EXPERT REVIEWED SOLUTIONS
●● Customer Value Proposition
Answer: collection of buyer-specific benefits (bundle of benefits)
●● A salespersons goal is to
Answer: bring product to customers and meet in the middle. ADD value
to the buyer
●● 4 Qualities to Become a Top Level Salesperson
Answer: 1. Product Knowledge
2. Customer Knowledge/Empathy
3. Confidence
4. Emotional Intelligence
●● Modern day selling is
Answer: customer centric
●● Value
Answer: Total benefits that the sellers products and services provide to
the buyer
,●● Personal Value Equation
Answer: benefits received - (selling price + time and effort to purchase)
●● Ways salespeople can add value in a selling situation (3)
Answer: provide interface between the buying and selling companies
encourage 2 way communication (give and take) and help to create
effective bonds between people
help foster trust and commitment
●● Why learn about professional selling? (3)
Answer: Useful to everyone
develop relationships
use selling principles all the time (job interviews)
●● Everyone sells (2)
Answer: talking to professor, employer, cop etc
, selling inside firm; raises etc
●● Personal selling allows
Answer: more flexibility and is the most costly method of
communication
●● personal selling costs about
Answer: 10,000 times more
●● Go-to-market strategies
Answer: The various options that firms have to promote their products
promotional mix (think 4 P's)
●● Communication Methods
Answer: Paid, unpaid, personal, impersonal (know chart)
examples
Paid/Impersonal: Ads
Paid/Personal: Email
Unpaid/Impersonal:Publicity
Unpaid/Impersonal: Word of mouth
AND EXPERT REVIEWED SOLUTIONS
●● Customer Value Proposition
Answer: collection of buyer-specific benefits (bundle of benefits)
●● A salespersons goal is to
Answer: bring product to customers and meet in the middle. ADD value
to the buyer
●● 4 Qualities to Become a Top Level Salesperson
Answer: 1. Product Knowledge
2. Customer Knowledge/Empathy
3. Confidence
4. Emotional Intelligence
●● Modern day selling is
Answer: customer centric
●● Value
Answer: Total benefits that the sellers products and services provide to
the buyer
,●● Personal Value Equation
Answer: benefits received - (selling price + time and effort to purchase)
●● Ways salespeople can add value in a selling situation (3)
Answer: provide interface between the buying and selling companies
encourage 2 way communication (give and take) and help to create
effective bonds between people
help foster trust and commitment
●● Why learn about professional selling? (3)
Answer: Useful to everyone
develop relationships
use selling principles all the time (job interviews)
●● Everyone sells (2)
Answer: talking to professor, employer, cop etc
, selling inside firm; raises etc
●● Personal selling allows
Answer: more flexibility and is the most costly method of
communication
●● personal selling costs about
Answer: 10,000 times more
●● Go-to-market strategies
Answer: The various options that firms have to promote their products
promotional mix (think 4 P's)
●● Communication Methods
Answer: Paid, unpaid, personal, impersonal (know chart)
examples
Paid/Impersonal: Ads
Paid/Personal: Email
Unpaid/Impersonal:Publicity
Unpaid/Impersonal: Word of mouth
