D099 WGU Sales Management exam
| | | | |
with verified answers
| |
Functional |relationships |- |ANSWER✔✔✔-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 |- |ANSWER✔✔✔-Divides |the |business |into |small, |tightly |knit |strategic |
business |units |(SBUs), |which |focus |on |specific |elements |of |the |organizational |process
Value |chain |- |ANSWER✔✔✔-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) |- |ANSWER✔✔✔-A |profit |center |that |focuses |on |product |
offering |and |market |segment
Sustainable |competitive |advantage |- |ANSWER✔✔✔-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 |- |
ANSWER✔✔✔-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) |- |ANSWER✔✔✔-The |use |of |data |in |an |enterprise |to |facilitate |
decision-making
Big |data |analytics |- |ANSWER✔✔✔-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 |- |ANSWER✔✔✔-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) |- |ANSWER✔✔✔-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 |- |ANSWER✔✔✔-Identifying |consumer |needs |and |then |producing |the |
goods |or |services |that |will |satisfy |those |needs |while |making |a |profit |for |the |organization
Promotional |techniques |- |ANSWER✔✔✔-Advertising, |sales |promotion, |and |publicity, |or |
creating |new |sales |channels |or |new |products
Promotional |mix |- |ANSWER✔✔✔-The |combination |of |advertising, |personal |selling, |sales |
promotion, |and |public |relations |used |to |promote |a |product
The |main |limitation |of |the |AIDA |model |- |ANSWER✔✔✔-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? |- |ANSWER✔✔✔-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 |- |ANSWER✔✔✔-Focuses |on |short-term, |often |single, |transactions.
Relationship |selling |- |ANSWER✔✔✔-Focused |on |long-term |relationship |building |to |keep |
customers |satisfied |and |consequently |convince |them |to |return |and |make |multiple |purchases.
Adaptive |selling |- |ANSWER✔✔✔-Using |social |styles |to |customize |a |sales |approach |to |the |
specific |customer
Social |style |matrix |- |ANSWER✔✔✔-A |model |that |categorizes |people |according |to |personality |
traits |and |how |they |interact |with |others
Analyticals |- |ANSWER✔✔✔-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 |- |ANSWER✔✔✔-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 |- |ANSWER✔✔✔-Focus |on |"why," |establish |a |personal |relationship, |demonstrate |
personal |commitment, |and |work |as |a |team. |High |responsiveness |and |low |assertiveness
Expressives |- |ANSWER✔✔✔-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 |- |ANSWER✔✔✔-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) |- |ANSWER✔✔✔-A |prediction |of |the |net |profit |attributed |to |the |
entire |future |relationship |with |a |customer
Return |on |customer |investment |- |ANSWER✔✔✔-A |metric |that |measures |how |much |value |a |
business |can |create |per |customer
Value |proposition |- |ANSWER✔✔✔-An |innovation, |service, |or |feature |intended |to |make |a |
company |or |product |attractive |to |customers
A |value |proposition |should |be |- |ANSWER✔✔✔-Clear |(short |and |direct), |compelling |
(motivates), |and |differentiating |(sets |the |offering |aprt).
Equation |for |ROI |- |ANSWER✔✔✔-ROI |= |net |profit |÷ |investment |× |100
Return |on |investment |(ROI) |- |ANSWER✔✔✔-A |performance |measure |used |to |evaluate |the |
efficiency |of |an |investment |or |compare |the |efficiency |of |a |number |of |different |investments
Equation |for |CLV |- |ANSWER✔✔✔-CLV |= |dollar |value |of |purchases |x |gross |profit |percent |x |
number |of |purchases
Sales |channels |- |ANSWER✔✔✔-A |way |of |bringing |products |or |services |to |market |so |they |can |
be |purchased |by |consumers
Distribution |channels |- |ANSWER✔✔✔-A |chain |of |businesses |or |intermediaries |through |which |
a |good |or |service |passes |until |it |reaches |the |final |buyer |or |the |end |consumer
| | | | |
with verified answers
| |
Functional |relationships |- |ANSWER✔✔✔-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 |- |ANSWER✔✔✔-Divides |the |business |into |small, |tightly |knit |strategic |
business |units |(SBUs), |which |focus |on |specific |elements |of |the |organizational |process
Value |chain |- |ANSWER✔✔✔-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) |- |ANSWER✔✔✔-A |profit |center |that |focuses |on |product |
offering |and |market |segment
Sustainable |competitive |advantage |- |ANSWER✔✔✔-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 |- |
ANSWER✔✔✔-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) |- |ANSWER✔✔✔-The |use |of |data |in |an |enterprise |to |facilitate |
decision-making
Big |data |analytics |- |ANSWER✔✔✔-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 |- |ANSWER✔✔✔-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) |- |ANSWER✔✔✔-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 |- |ANSWER✔✔✔-Identifying |consumer |needs |and |then |producing |the |
goods |or |services |that |will |satisfy |those |needs |while |making |a |profit |for |the |organization
Promotional |techniques |- |ANSWER✔✔✔-Advertising, |sales |promotion, |and |publicity, |or |
creating |new |sales |channels |or |new |products
Promotional |mix |- |ANSWER✔✔✔-The |combination |of |advertising, |personal |selling, |sales |
promotion, |and |public |relations |used |to |promote |a |product
The |main |limitation |of |the |AIDA |model |- |ANSWER✔✔✔-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? |- |ANSWER✔✔✔-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 |- |ANSWER✔✔✔-Focuses |on |short-term, |often |single, |transactions.
Relationship |selling |- |ANSWER✔✔✔-Focused |on |long-term |relationship |building |to |keep |
customers |satisfied |and |consequently |convince |them |to |return |and |make |multiple |purchases.
Adaptive |selling |- |ANSWER✔✔✔-Using |social |styles |to |customize |a |sales |approach |to |the |
specific |customer
Social |style |matrix |- |ANSWER✔✔✔-A |model |that |categorizes |people |according |to |personality |
traits |and |how |they |interact |with |others
Analyticals |- |ANSWER✔✔✔-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 |- |ANSWER✔✔✔-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 |- |ANSWER✔✔✔-Focus |on |"why," |establish |a |personal |relationship, |demonstrate |
personal |commitment, |and |work |as |a |team. |High |responsiveness |and |low |assertiveness
Expressives |- |ANSWER✔✔✔-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 |- |ANSWER✔✔✔-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) |- |ANSWER✔✔✔-A |prediction |of |the |net |profit |attributed |to |the |
entire |future |relationship |with |a |customer
Return |on |customer |investment |- |ANSWER✔✔✔-A |metric |that |measures |how |much |value |a |
business |can |create |per |customer
Value |proposition |- |ANSWER✔✔✔-An |innovation, |service, |or |feature |intended |to |make |a |
company |or |product |attractive |to |customers
A |value |proposition |should |be |- |ANSWER✔✔✔-Clear |(short |and |direct), |compelling |
(motivates), |and |differentiating |(sets |the |offering |aprt).
Equation |for |ROI |- |ANSWER✔✔✔-ROI |= |net |profit |÷ |investment |× |100
Return |on |investment |(ROI) |- |ANSWER✔✔✔-A |performance |measure |used |to |evaluate |the |
efficiency |of |an |investment |or |compare |the |efficiency |of |a |number |of |different |investments
Equation |for |CLV |- |ANSWER✔✔✔-CLV |= |dollar |value |of |purchases |x |gross |profit |percent |x |
number |of |purchases
Sales |channels |- |ANSWER✔✔✔-A |way |of |bringing |products |or |services |to |market |so |they |can |
be |purchased |by |consumers
Distribution |channels |- |ANSWER✔✔✔-A |chain |of |businesses |or |intermediaries |through |which |
a |good |or |service |passes |until |it |reaches |the |final |buyer |or |the |end |consumer
