WGU D099 Sales Management QUESTIONS
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WITH 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?)
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
|\ |\ |\ |\ |\
WITH 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?)
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
