QUESTIONS AND VERIFIED
CORRECT ANSWERS
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buyer's journey - CORRECT ANSWER-The buyer's journey is the process buyers go through to
become aware of, consider and evaluate, and decide to purchase a new product or service
buying center - CORRECT ANSWER-Also called decision-making unit (DMU), brings together all
those members of an organization who become involved in the buying process for a particular
product or service
buying centers - CORRECT ANSWER-A group of people within an organization who make
business purchasing decisions
buying power - CORRECT ANSWER-Purchasing power
C-suite - CORRECT ANSWER-The executive-level managers within a company
capital budgeting - CORRECT ANSWER-The budgeting process to evaluate potential major
projects or investments
,Central tendency error - CORRECT ANSWER-The tendency of managers and interviewers to rate
all or most of the employees or interviewees as average
Centralization - CORRECT ANSWER-The concentration of control of an activity under a single
authority
clinical selection approach - CORRECT ANSWER-A selection approach where decision makers
review the data and, based on what they learn from the candidate and the information available
to them, decide who should be hired for a job
close rate - CORRECT ANSWER-The number of deals closed versus the number of opportunities
in the pipeline
*Close Rate = Number of deals closed / Number of opportunities x 100*
Closing the sale - CORRECT ANSWER-Agreeing on the terms of the sale and finalizing the
transaction
Co-marketing agreements - CORRECT ANSWER-An agreement where companies share
resources to market their products together
code of ethics - CORRECT ANSWER-A document that outlines the mission and values of the
business or organization, how professionals are supposed to approach problems, the ethical
principles based on the organization's core values, and the standards to which the professional
is held
cognitive ability test - CORRECT ANSWER-A type of test that measures reasoning skills, math
skills, and verbal skills
,Cognitive job satisfaction - CORRECT ANSWER-How satisfied employees feel concerning some
aspect of their job, such as pay, hours, or benefits
cold calling - CORRECT ANSWER-Making an unsolicited call on (someone), by telephone or in
person, in an attempt to sell goods or services
cold calls - CORRECT ANSWER-Sales calls to a person without any information on that person's
interest or interactions with the company or product
commission - CORRECT ANSWER-A form of variable pay that is contingent on discretion,
performance, or results achieved
company-direct - CORRECT ANSWER-The producer sells a product to a consumer directly
compensatory model - CORRECT ANSWER-A type of statistical approach that permits a high
score in an important area to make up for a lower score in another area
competitive advantage - CORRECT ANSWER-A condition or circumstance that puts a company in
a favorable or superior business position.
competitors - CORRECT ANSWER-Firms that provide similar products or services and try to
attract the same customers
confirmatory bias - CORRECT ANSWER-The tendency to search for or interpret new information
in a way that confirms a person's pre-existing beliefs
Conflict resolution - CORRECT ANSWER-A set of ideas and ways to reduce sources of conflict
, consultative selling - CORRECT ANSWER-Sales approach where the seller becomes a trusted
advisor to the customer and builds a relationship to truly understand his or her needs
control - CORRECT ANSWER-Monitoring the behavior of organizational members and the
effectiveness of the organization itself to determine whether organizational goals are being
achieved, and taking corrective action if necessary
conversion rates - CORRECT ANSWER-The percentage of prospective customers who take a
specific action you want
Conversion ratios - CORRECT ANSWER-A performance metric that measures how good a
salesperson is at moving customers from one stage in the selling cycle to the next
corporate structure - CORRECT ANSWER-An organization's different departments or business
units within a company to achieve its overall mission and goals
cost drivers - CORRECT ANSWER-A cost driver is an activity or transaction that causes costs to
be incurred
cost of living annual increases (COLAs) - CORRECT ANSWER-A type of pay increase given to
employees as an annual inflationary increase
Criteria development - CORRECT ANSWER-The process of determining which sources of
information will be used and how those sources will be scored during the interview
CRM analytics - CORRECT ANSWER-A systematic electronic analysis of customer data to improve
decision-making