TEST QUESTIONS AND ANSWERS

WGU D099 Sales Management LATEST

TEST QUESTIONS AND ANSWERS

2025 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 1 / 4

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

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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

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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

Agents or brokers - ANSWER-Their main job is to represent the producer to the final user in selling a product.

Wholesalers - ANSWER-They sell the products to other intermediaries, such as retailers, for a higher price than they paid. They buy in bulk and store the products in their own warehouses and storage places until it is time to resell them. They are independently owned, and they own the products that they sell.

Distributors - ANSWER-They take ownership of the product, store it, and sell it at a profit to retailers or other intermediaries. However, the key difference is that distributors ally themselves to complementary products

Retailers - ANSWER-Whatever their size, retailers purchase products from market intermediaries and sell them directly to the end user for a profit

Missionary salespeople - ANSWER-A salesperson who provides information to an individual who will influence the purchase decision

Technical salespeople - ANSWER-Sales people who are experts in a specific product or service area.They promote and sell the product by demonstrating how it works along with the benefits it can offer potential customers

Trade salespeople - ANSWER-A salesperson who calls on retailers and helps them display, advertise, and sell products to consumers

Inside salespeople - ANSWER-People who routinely work inside the business taking orders and handling transactions

Outside salespeople - ANSWER-Sales personnel who go out into the field to meet with customers

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