MAR 3400 EXAM 1,2& 3 EXAM | EXAM TESTBANK QUESTIONS AND
ANSWERS | VERIFIED AND WELL DETAILED ANSWERS | LATEST
EXAM UPDATE
EXAM 1
New Sales Model
Cannot be a walking brochure nowadays/pushy (old model). Must be adaptive,
creative, intelligent, add value. Must be able to adapt and pivot
New Sales Model Requirements
Emotional intelligence, curiosity (motivated by learning new things, energized
to help others), intelligence (60% of buyers have already researched your
product)
Emotional awareness
Must be able to identify emotions (yours and others), read non-verbal cues, read
customer if they want to buy or have a problem
Benefits of Sales Careers
- Great income
- Regular and immediate feedback (regular check on how you are doing)
- Psychologically rewarding (meaningful work)
- High visibility (you see inside and outside company- everyone sees success)
- Growth opportunity
Recoginiton in sales
Comes more frequently and with greater intensity in sales as salespeople drive
revenue and are rewarded.
What is selling
Should be a service profession: not being pushy and agressive, annoying, not
necessilarly outgoing and charismatic
Key to Sales
Be committed to the profession, have a good attitude
,Building win/win relationships
Put the client's interest FIRST. All about trust- if buyers trust you, easier to
negotiate
When does trust grow
When buyers know you will not take advantage of vulnerabilities, you say what
you are going to do
Customer Needs vs Seller Needs
Balance these needs but put client's needs first
Facts about trust
Grows slowly, declines rapidly and then harder to rebuild so protect trust
Projecting a Professional Image
How you look and present physically is important- simple (avoid flashly
colors), appropriate, good quality clothes is an investment, pay attention to
details and non-verbals (tone, volume, speed), how you enter, handshake, eye
contact. 2 seconds to make an initial impression
Handshake
Firm not loose grip. Lock thumbs
Ethical Behavior in Sales
When you compromise ethics, you lose trust and reputation, lose respect for
yourself, integrity
Ethics
Knowing right from wrong in business, principles that govern behavior
Company's Code of Ethics
Written set of rules to follow so you make the right decision. Can also adopt
your own
If you find yourself in a sticky ethical situation
Know your values
Strategies for entertaining
Purpose: to hang out. Investment to get to know the customer on a personal
level and build trust. Build relationships outside of the office
,Issues with entertaining
Many cannot differentiate between socializing vs entertaining especially with a
corporate card. Most of the time is free and almost unlimited
Best practices entertaining
Set limits, time, and budget, establish expectations with the prospect, and
communicate with management.
How to properly entertain
Set limits, time and budget. Establish expections with the rpsect. Know the
difference between entertaining and socializing
Persuasian vs manipualtion
Difference is Freedom. Do you have the freedom to choose. Sales job is to
persuade people to do what is in their vest interest and to make an informed
decision. Manipulation is forcing with no free will
Gift vs bribes
Difference is Intent. Is it a condition for business (bribe) or is it to express
appreciation and thank you (gift). If bad intent- assume it will make differnece
Confidential information
Keep quiet and do not share if you work with competitor. Jeoproadizes
reputation.
Backdoor selling
1) Buypass middleman- going through retailer and wholesaler who investment
money to stock your product and then you backstab them
2) Find out information from customers and use it against them
Unethical
UCC
Uniformal Commerical Code, code to commercial practice in the US
Agent
Someone who acts on behalf of company. Insurance, real estate agents.
Company is bound to their actions
Sales
, Both parties agree to an order and both parties are accountable. Willingly
Oral versus written
Both binding
Reciprocity
I buy from you, you buy from me
Buying from each other
Legal; illegal if it is forced (to get back at someone)
Tying agreements
Buy A from me, and also have to buy from B
If A is not dependent on B, illegal
Legal if function of product is depedent on other
Collusion
Competitors get together to make decisions to hurt consumers.
Price fixing- setting prices high/ low to drive people out of business. Hurts
customers and clients.
Defamation
Bad mouth competition, generally false. Libel (written) vs slander (spoken)
Social Style
The behavior a person exhibits when interacting with others
Assertiveness vs Responsiveness
Assertiveness: The degree to which people have opinions about issues and
publicly make their positions clear. Influence the thinking and actions of others
Responsiveness: Based on how emotional people tend to get in social situations.
Reacts to emotions
Note on Responsiveness vs Assertivness
These are preferences, not abilities. How people like to communicate to others
ANSWERS | VERIFIED AND WELL DETAILED ANSWERS | LATEST
EXAM UPDATE
EXAM 1
New Sales Model
Cannot be a walking brochure nowadays/pushy (old model). Must be adaptive,
creative, intelligent, add value. Must be able to adapt and pivot
New Sales Model Requirements
Emotional intelligence, curiosity (motivated by learning new things, energized
to help others), intelligence (60% of buyers have already researched your
product)
Emotional awareness
Must be able to identify emotions (yours and others), read non-verbal cues, read
customer if they want to buy or have a problem
Benefits of Sales Careers
- Great income
- Regular and immediate feedback (regular check on how you are doing)
- Psychologically rewarding (meaningful work)
- High visibility (you see inside and outside company- everyone sees success)
- Growth opportunity
Recoginiton in sales
Comes more frequently and with greater intensity in sales as salespeople drive
revenue and are rewarded.
What is selling
Should be a service profession: not being pushy and agressive, annoying, not
necessilarly outgoing and charismatic
Key to Sales
Be committed to the profession, have a good attitude
,Building win/win relationships
Put the client's interest FIRST. All about trust- if buyers trust you, easier to
negotiate
When does trust grow
When buyers know you will not take advantage of vulnerabilities, you say what
you are going to do
Customer Needs vs Seller Needs
Balance these needs but put client's needs first
Facts about trust
Grows slowly, declines rapidly and then harder to rebuild so protect trust
Projecting a Professional Image
How you look and present physically is important- simple (avoid flashly
colors), appropriate, good quality clothes is an investment, pay attention to
details and non-verbals (tone, volume, speed), how you enter, handshake, eye
contact. 2 seconds to make an initial impression
Handshake
Firm not loose grip. Lock thumbs
Ethical Behavior in Sales
When you compromise ethics, you lose trust and reputation, lose respect for
yourself, integrity
Ethics
Knowing right from wrong in business, principles that govern behavior
Company's Code of Ethics
Written set of rules to follow so you make the right decision. Can also adopt
your own
If you find yourself in a sticky ethical situation
Know your values
Strategies for entertaining
Purpose: to hang out. Investment to get to know the customer on a personal
level and build trust. Build relationships outside of the office
,Issues with entertaining
Many cannot differentiate between socializing vs entertaining especially with a
corporate card. Most of the time is free and almost unlimited
Best practices entertaining
Set limits, time, and budget, establish expectations with the prospect, and
communicate with management.
How to properly entertain
Set limits, time and budget. Establish expections with the rpsect. Know the
difference between entertaining and socializing
Persuasian vs manipualtion
Difference is Freedom. Do you have the freedom to choose. Sales job is to
persuade people to do what is in their vest interest and to make an informed
decision. Manipulation is forcing with no free will
Gift vs bribes
Difference is Intent. Is it a condition for business (bribe) or is it to express
appreciation and thank you (gift). If bad intent- assume it will make differnece
Confidential information
Keep quiet and do not share if you work with competitor. Jeoproadizes
reputation.
Backdoor selling
1) Buypass middleman- going through retailer and wholesaler who investment
money to stock your product and then you backstab them
2) Find out information from customers and use it against them
Unethical
UCC
Uniformal Commerical Code, code to commercial practice in the US
Agent
Someone who acts on behalf of company. Insurance, real estate agents.
Company is bound to their actions
Sales
, Both parties agree to an order and both parties are accountable. Willingly
Oral versus written
Both binding
Reciprocity
I buy from you, you buy from me
Buying from each other
Legal; illegal if it is forced (to get back at someone)
Tying agreements
Buy A from me, and also have to buy from B
If A is not dependent on B, illegal
Legal if function of product is depedent on other
Collusion
Competitors get together to make decisions to hurt consumers.
Price fixing- setting prices high/ low to drive people out of business. Hurts
customers and clients.
Defamation
Bad mouth competition, generally false. Libel (written) vs slander (spoken)
Social Style
The behavior a person exhibits when interacting with others
Assertiveness vs Responsiveness
Assertiveness: The degree to which people have opinions about issues and
publicly make their positions clear. Influence the thinking and actions of others
Responsiveness: Based on how emotional people tend to get in social situations.
Reacts to emotions
Note on Responsiveness vs Assertivness
These are preferences, not abilities. How people like to communicate to others
