MKT 315 EXAM 1 ACTUAL TEST QUESTIONS AND EXPERT REVIEWED SOLUTIONS

MKT 315 EXAM 1 ACTUAL TEST QUESTIONS
AND EXPERT REVIEWED SOLUTIONS

●● Customer Value Proposition
Answer: collection of buyer-specific benefits (bundle of benefits)


●● A salespersons goal is to
Answer: bring product to customers and meet in the middle. ADD value
to the buyer


●● 4 Qualities to Become a Top Level Salesperson
Answer: 1. Product Knowledge
2. Customer Knowledge/Empathy
3. Confidence
4. Emotional Intelligence


●● Modern day selling is
Answer: customer centric


●● Value
Answer: Total benefits that the sellers products and services provide to
the buyer

,●● Personal Value Equation
Answer: benefits received - (selling price + time and effort to purchase)


●● Ways salespeople can add value in a selling situation (3)
Answer: provide interface between the buying and selling companies


encourage 2 way communication (give and take) and help to create
effective bonds between people


help foster trust and commitment


●● Why learn about professional selling? (3)
Answer: Useful to everyone


develop relationships


use selling principles all the time (job interviews)


●● Everyone sells (2)
Answer: talking to professor, employer, cop etc

, selling inside firm; raises etc


●● Personal selling allows
Answer: more flexibility and is the most costly method of
communication


●● personal selling costs about
Answer: 10,000 times more


●● Go-to-market strategies
Answer: The various options that firms have to promote their products


promotional mix (think 4 P's)


●● Communication Methods
Answer: Paid, unpaid, personal, impersonal (know chart)


examples
Paid/Impersonal: Ads
Paid/Personal: Email
Unpaid/Impersonal:Publicity
Unpaid/Impersonal: Word of mouth