Sales Management D099

Sales Management D099 Leave the first rating Students also studied Terms in this set (79) Western Governors UniversityD 099 Save Sales Management - D099 263 terms marlio4Preview D099 WGU Sales Management 449 terms Brandon_Liberto Preview D099 Sales Management 250 terms ANGELA_BUSCH3 Preview Sales M 70 terms Tiff 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) 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.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) 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

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 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 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.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 A sales manager for a clothing distributor notices that one sales region is not doing as well as the others. She develops a roadmap to better distribute the sales team and direct the sales efforts in the underperforming region.What process is the sales manager using?Strategic plan development A software salesperson is meeting with a client to demonstrate new features of their application and answer questions as to why it brings value to the client's company. The salesperson also takes the opportunity to discuss with the client why this software is better than the competitor's version and how it provides the solutions the client needs.What two sequential steps of the sales process is this salesperson applying?Presenting and handling objections

How has the use of the internet and social media changed the selling process?The internet and social media ensure that each step now includes increased collaboration between buyers and sellers.At which stage of the sales funnel does the sales team focus on converting prospects into paying customers?

BOFU A consumer is looking to buy a new house. He has chosen the neighborhood, price point, and type of house he is looking for. He has even been pre-approved for the loan. He contacts a real estate agent and asks to see houses that match his requirements.At which stage is this consumer on the buyer's journey?Desire A salesperson is demonstrating a product and explains how the item will add value to the customer's manufacturing operations. The difference between the price the customer will pay and the improvement in manufacturing will result in a threefold increase in production efficiency. Which concept is the salesperson describing to the customer?Return on investment The chief financial officer (CFO) for a Fortune 500 company requests company data for the past five years.The CFO uses business intelligence to develop a number of reports to determine areas where the company can cut costs and to determine departmental budget allocations for the coming year. Which aspect of business intelligence is being used during this process?Decision-making A consumer sees an ad for a new product on the internet and does some research to learn more about the product. Which stage of the buyer's journey is illustrated by this action?Interest A car salesperson uses an inbound marketing campaign to send a customized communication to each lead that has visited the showroom in the last 90 days. What is the primary goal of this inbound marketing campaign?To increase chance of selling A sales manager is categorizing existing clients by recency, frequency, and monetary value. Which process is the sales manager using?Account management A sales manager wants to motivate the sales team to provide value to clients in order to achieve sales goals.Which activity should a sales manager use?Coach techniques for handling objections A sales manager receives feedback that the sales team's strategic thinking needs improvement. Which activity should demonstrate the sales team's strategic thinking ability?Performance that connects company and customer goals