MKTG 2243 FINAL Exam Questions AND Correct Answers
80/20 principle - ✔✔Eighty percent of sales often come from
20 percent of a company's customers
acceptance signals - ✔✔Signs that your buyer is favourably
inclined towards you and your presentation
account analysis - ✔✔The process of analyzing each prospect
and customer to maximize the chances of meeting a sales goal
account penetration - ✔✔The ability to work and contact
people throughout the account, discussing your products
account segmentation - ✔✔The process of applying different
selling strategies to different accounts
action - ✔✔The last of the prospect's mental steps- when the
prospect buys your product
add-on selling - ✔✔The process of generating additional
revenues after you've closed a sale by selling additional
,complementary products or by increasing the value of the
sales by simply selling more product
advantage - ✔✔The performance characteristic of a product
that describes how it can be used or how it will help the buyer
aggressiveness - ✔✔Expressing oneself in an inappropriate
way; being forceful and demanding
analogy - ✔✔A comparison between two different situations
that have something in common
assertiveness - ✔✔Expressing oneself in a direct and honest
way; seeking a win-win outcome
assumptive close - ✔✔A type of close that assumes the
prospect will buy
attention - ✔✔The first mental step in the buying process
,attitudes - ✔✔A person's learned predispositions towards
something
autosuggestion - ✔✔A kind of suggestion that attempts to
have prospects imagine themselves using the product
belief - ✔✔A state of mind in which trust or confidence is
placed in something or someone
benefit - ✔✔A favourable result the buyer receives from the
product because of a particular advantage that has the ability
to satisfy a buyer's needs
benefit selling - ✔✔A method of selling whereby a
salesperson relates a product's benefits to the customer's
needs using the product's features and advantages as support
black box - ✔✔The unobservable, internal process taking
place within the mind of the prospect as he or she reaches a
decision whether or not to buy
, blog - ✔✔A frequently updated personal journal using the
Internet; intended for people to read
body language - ✔✔Nonverbal communication that includes
facial expression, appearance, handshake and body
movement
boomerang method - ✔✔The process of turning an objection
into a reason to buy
breach of warranty - ✔✔A situation in which a product does
not perform as promised by the company' representatives
bribe - ✔✔The process of giving something to somebody to
get them to do something
bundling - ✔✔Offering several products as one combined
product
buying signal - ✔✔Anything that prospects say or do that
indicate they are ready to buy
80/20 principle - ✔✔Eighty percent of sales often come from
20 percent of a company's customers
acceptance signals - ✔✔Signs that your buyer is favourably
inclined towards you and your presentation
account analysis - ✔✔The process of analyzing each prospect
and customer to maximize the chances of meeting a sales goal
account penetration - ✔✔The ability to work and contact
people throughout the account, discussing your products
account segmentation - ✔✔The process of applying different
selling strategies to different accounts
action - ✔✔The last of the prospect's mental steps- when the
prospect buys your product
add-on selling - ✔✔The process of generating additional
revenues after you've closed a sale by selling additional
,complementary products or by increasing the value of the
sales by simply selling more product
advantage - ✔✔The performance characteristic of a product
that describes how it can be used or how it will help the buyer
aggressiveness - ✔✔Expressing oneself in an inappropriate
way; being forceful and demanding
analogy - ✔✔A comparison between two different situations
that have something in common
assertiveness - ✔✔Expressing oneself in a direct and honest
way; seeking a win-win outcome
assumptive close - ✔✔A type of close that assumes the
prospect will buy
attention - ✔✔The first mental step in the buying process
,attitudes - ✔✔A person's learned predispositions towards
something
autosuggestion - ✔✔A kind of suggestion that attempts to
have prospects imagine themselves using the product
belief - ✔✔A state of mind in which trust or confidence is
placed in something or someone
benefit - ✔✔A favourable result the buyer receives from the
product because of a particular advantage that has the ability
to satisfy a buyer's needs
benefit selling - ✔✔A method of selling whereby a
salesperson relates a product's benefits to the customer's
needs using the product's features and advantages as support
black box - ✔✔The unobservable, internal process taking
place within the mind of the prospect as he or she reaches a
decision whether or not to buy
, blog - ✔✔A frequently updated personal journal using the
Internet; intended for people to read
body language - ✔✔Nonverbal communication that includes
facial expression, appearance, handshake and body
movement
boomerang method - ✔✔The process of turning an objection
into a reason to buy
breach of warranty - ✔✔A situation in which a product does
not perform as promised by the company' representatives
bribe - ✔✔The process of giving something to somebody to
get them to do something
bundling - ✔✔Offering several products as one combined
product
buying signal - ✔✔Anything that prospects say or do that
indicate they are ready to buy
