Verified Version And Frequently tested
Exam With Expected real Questions
With Well Elaborated Correct Answers
GRADED A+
Professional Academic Assistance Services
Services Offered
Proctored Exam Assistance
Online Class Management (Full Course Support)
Exam Preparation & Study Materials
Assignments and Coursework Support
Essays and Research Papers
Discussion Posts and Replies
Functional relationships - correct ans: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 - correct ans:Divides the business into small, tightly knit strategic business units
(SBUs), which focus on specific elements of the organizational process
Value chain - correct ans: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) - correct ans:A profit center that focuses on product offering and market
segment
Sustainable competitive advantage - correct ans: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 - correct ans: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) - correct ans:The use of data in an enterprise to facilitate decision-making
Big data analytics - correct ans: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 - correct ans: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) - correct ans: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 - correct ans:Identifying consumer needs and then producing the goods or services
that will satisfy those needs while making a profit for the organization
,Promotional techniques - correct ans:Advertising, sales promotion, and publicity, or creating new sales
channels or new products
Promotional mix - correct ans:The combination of advertising, personal selling, sales promotion, and
public relations used to promote a product
The main limitation of the AIDA model - correct ans: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? - correct ans: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 - correct ans:Focuses on short-term, often single, transactions.
Relationship selling - correct ans:Focused on long-term relationship building to keep customers satisfied
and consequently convince them to return and make multiple purchases.
Adaptive selling - correct ans:Using social styles to customize a sales approach to the specific customer
Social style matrix - correct ans:A model that categorizes people according to personality traits and how
they interact with others
Analyticals - correct ans: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 - correct ans: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 - correct ans:Focus on "why," establish a personal relationship, demonstrate personal
commitment, and work as a team. High responsiveness and low assertiveness
, Expressives - correct ans: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 - correct ans: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) - correct ans:A prediction of the net profit attributed to the entire future
relationship with a customer
Return on customer investment - correct ans:A metric that measures how much value a business can
create per customer
Value proposition - correct ans:An innovation, service, or feature intended to make a company or
product attractive to customers
A value proposition should be - correct ans:Clear (short and direct), compelling (motivates), and
differentiating (sets the offering aprt).
Equation for ROI - correct ans:ROI = net profit ÷ investment × 100
Return on investment (ROI) - correct ans:A performance measure used to evaluate the efficiency of an
investment or compare the efficiency of a number of different investments
Equation for CLV - correct ans:CLV = dollar value of purchases x gross profit percent x number of
purchases
Sales channels - correct ans:A way of bringing products or services to market so they can be purchased
by consumers
Distribution channels - correct ans:A chain of businesses or intermediaries through which a good or
service passes until it reaches the final buyer or the end consumer