Sales Management D099 - All Module learning checks, quizzes, tests

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60 terms lian The sales team of a reputable appliance retailer reaches out to their current customers two weeks after a purchase to ensure their products have met their customers' expectations and to determine if they have any other needs or wants.How do the actions of the appliance retailer exemplify the primary role of sales in a business?They are creating a customer base by building a relationship with their customers.What is a sustainable competitive advantage?It is a long-term ability that is not easily duplicated by opponents.A national restaurant chain is having financial trouble and wants to cut costs by eliminating underperforming restaurants. Store managers were tasked with reviewing their sales reports from the last quarter to help the executive team make an informed decision about which restaurants to close.What should the executive team use in the decision- making process?Business intelligence (BI) BI is a process that presents an assortment of data to help in the decision-making process of important business issues.How has online shopping changed consumer purchasing dynamics?It has created a more informed buyer due to the information that is now available about products and services they may wish to buy.What is the purpose of a professional and organizational code of ethics?To provide expectations in terms of responsibilities and behavior toward fellow employees and professionals, customers, and suppliers What is the relationship between sales and marketing? Marketing attracts prospective customers to the business while sales attempt to convert these prospects into paying customers.

How does personal selling offer an advantage over other forms of promotion?Personal selling provides a detailed sales message that is adapted to the interests of each customer.This advantage is especially beneficial for complex goods and services. When questions or objections arise, the salesperson can provide detailed explanations that are tailored to each customer.AIDAAttention, Interest, Desire, Action What is the main limitation of the AIDA model?The model assumes consumers are passive and marketers are active during most of the buying process.What is transactional selling?A sales strategy that initially identifies potential customers, offers the product, and attempts to quickly close the deal What are the requirements for effective relationship selling?The salesperson must be patient, care about the customer's problems, and believe in the product.What is adaptive selling?A sales approach that focuses on tailoring the selling style to the customer's behavior A car salesperson is presenting to a couple interested in buying a new vehicle. The two people ask different types of questions. The first asks, "How is this car different from other makes? How do the features of this car work?" The partner asks, "Why should I buy this car? Why is this car good for me and my family?" Which two social styles must the salesperson address?Analytical and amiable What is value from a customer's perspective?The apparent benefits the customer received from a product or service in relation to the costs of the item A new ice cream shop wants to capitalize on the fact that it makes all of its flavors in house and sources its products from local suppliers. The owners decide they need to offer current and potential customers a clear, compelling, and differentiating message.Which type of communication is this ice cream shop aiming to develop?Value proposition What is customer lifetime value (CLV)?The present value of all potential business from the same customer throughout the span of that customer's relationship with the company A sales manager is implementing a relationship-building strategy to retain existing customers. This strategy will incur costs as it requires sales representatives to spend more time with each customer to understand their needs and develop tailored solutions that will result in sales.Which measure should the sales manager use to calculate the costs of this strategy relative to the increase in sales generated by the strategy?Return on investment (ROI)

Jack has been selling cars for a car dealership for many years. A long-time customer named Omar walks into the dealership. Jack is surprised to see Omar, despite his being a loyal customer, since his most recent purchase occurred under two years ago. After the two talk for a while, Omar explains that he does not really need a new car, but he recently got a nice promotion at work and is thinking about upgrading. Although he is happy with his SUV, he wishes he had a car that gets better gas mileage.In which stage in the buyer journey is Omar?Interest Although Omar does not need a new car, his promotion and wish for better mileage has created an interest in buying a new car.Which type of selling is Jack engaged in at this moment? Adaptive selling Because Jack is trying to understand his customer's needs by asking different questions, he is engaged in adaptive selling.What is Jack demonstrating when he explains the gas mileage of various models?Ethical behavior Jack's ethics, which defines what is right and wrong, require him to be honest about the gas mileage of the different models.What is Omar's dominant social style?Analytical Omar's personality traits are consistent with someone who has an analytical social style.What should Jack do to help Omar understand why a particular car is the best option?Explain the value proposition Jack needs to explain a value proposition, which is an innovation, service, or feature that the car manufacturer developed to make the product attractive to customers.What are some of the main characteristics of business-to- business (B2B) selling?B2B selling consists of few customers and a long selling cycle.What is an intermediary?People or businesses that connect buyers and sellers together as a conduit for goods or services in the supply chain What is an example of an order getter?Software salesperson A department store is launching a new clothing brand.The brand sends a representative to help the store set up an area to display the latest apparel.Which type of salesperson is the representative from the brand?Trade Trade salespersons visit retail shops to help them display, advertise, and sell the products.

A food distributor is analyzing data from their CRM to understand the status of their accounts. They are specifically looking for those customers who consistently make purchases with the company so they can offer promotional items to retain those clients.Which type of accounts is the food distributor specifically trying to identify?Active accounts Active accounts engage with the business consistently and have either frequent orders, large orders, or both.What is the purpose of key account management (KAM)? To focus efforts on building and sustaining long-term, jointly beneficial relationships with major accounts A sales manager for a major packaging distributor works with the sales team to generate company growth and increase revenue by looking for opportunities with current clients and seeking out potential clients.Which type of activity is this sales manager performing?Business development Business development is a key part of a sales manager's role and entails seeking strategic opportunities with current and potential customers to help achieve business growth and increase revenue.A global cell phone producer sets a target to sell one million new phone models by the end of the second quarter. They send this figure to regional sales managers who in turn guide the sales teams in meeting this target.What is this target set by the company called?Sales quota The sales quota is a specific figure or target that is set for a line of products, for a company division, or for sales representatives to achieve in a specific amount of time.What is the difference between power skills and hard skills?Power skills are personal attributes that help people effectively interact with others. Hard skills are abilities that are easily measurable.Soft skills (power skills) are non-quantifiable, personal habits that are developed over time and affect interactions with others. Hard skills are quantifiable abilities that can usually be learned through training materials such as product knowledge.A salesperson was just given a new account to service.She decides that before going to meet the client, she will research the client's website, find out information about the company contact on social media, and look at CRM data to see what the client activity has been in the last few months.What essential skill is this salesperson utilizing?Research A sales manager for a national insurance company is faced with unexpected changes in the market and must manage his team in meeting sales goals as these changes arise. To do this, he sets up ongoing training sessions to improve the sales team's knowledge of the market.What type of managing skill is this sales manager utilizing?Coaching Coaching involves providing professional development to advance the sales team's skill set and engaging with the sales team to mentor and support them in accomplishing sales objectives.