MAR3400 - EXAM 1 QUESTIONS AND ANSWERS WITH
COMPLETE SOLUTIONS
Types of Value
1. Product value
2. Service value
3. Relationship value
4. Customer Lifetime Value
Characteristics of Successful Salespeople
1. Self-motivated
2. Dependability & trustworthiness
3. Ethical sales behavior
4. Customer and product knowledge
5. Analytical Skills
6. Ability to use information technology
7. Communication skills
8. Flexibility & agility (adaptive)
9. Creativity (adaptive)
10. Emotional intelligence (adaptive)
11. Confidence & optimism
12. Are salespeople born or made?
- You don't need to have a prestigious degree
,- People who are in sales do not have to be outgoing or gregarious
- Sales skills can be learned by ANY personality
Professional Selling Model
1. Before the sales call (Planning, prospecting, preparation)
2. During the sales call (rapport/trust, needs analysis, needs satisfaction, objections,
commitment)
3. After the sales call (follow up, action items, additional opportunities, partnership)
Underlying foundational knowledge of the professional selling model:
1. Personality assessment
2. Emotional intelligence
3. Communication effectiveness
4. Learning styles
5. Credibility
6. Adaption
Ethics
- A set of principles governing behavior
- What is right and what is wrong
Factors and Influencing the Ethical Behavior of Salespeople
- Personal, company & customer needs
- Company policies
- Values of significant others
- Laws
, - A personal code of ethics
- Previous experience
Manipulation
Eliminating or reducing a buyer's choice unfairly
- unethical in nature
Persuasion
Influencing the buyer's decision, but the decision still remain's the buyers
Bribes
Payments made to buyers to influence their purchase decisions
Kickbacks
Payments made to buyers based on the amount of orders placed
Backdoor selling
Salespeople ignore the purchasing agent's policy and contact people directly involved in
the purchasing decision
Poaching
Unethical practice of stealing potential customers from other salespeople
- If the company has policies protecting customers or territories, such behavior can lead
to immediate termination
Statutory law
Based on legislation passed either by state legislatures or by Congress
- Uniform Commercial Code, U C C
- Antitrust laws
Uniform Commercial Code, U C C
COMPLETE SOLUTIONS
Types of Value
1. Product value
2. Service value
3. Relationship value
4. Customer Lifetime Value
Characteristics of Successful Salespeople
1. Self-motivated
2. Dependability & trustworthiness
3. Ethical sales behavior
4. Customer and product knowledge
5. Analytical Skills
6. Ability to use information technology
7. Communication skills
8. Flexibility & agility (adaptive)
9. Creativity (adaptive)
10. Emotional intelligence (adaptive)
11. Confidence & optimism
12. Are salespeople born or made?
- You don't need to have a prestigious degree
,- People who are in sales do not have to be outgoing or gregarious
- Sales skills can be learned by ANY personality
Professional Selling Model
1. Before the sales call (Planning, prospecting, preparation)
2. During the sales call (rapport/trust, needs analysis, needs satisfaction, objections,
commitment)
3. After the sales call (follow up, action items, additional opportunities, partnership)
Underlying foundational knowledge of the professional selling model:
1. Personality assessment
2. Emotional intelligence
3. Communication effectiveness
4. Learning styles
5. Credibility
6. Adaption
Ethics
- A set of principles governing behavior
- What is right and what is wrong
Factors and Influencing the Ethical Behavior of Salespeople
- Personal, company & customer needs
- Company policies
- Values of significant others
- Laws
, - A personal code of ethics
- Previous experience
Manipulation
Eliminating or reducing a buyer's choice unfairly
- unethical in nature
Persuasion
Influencing the buyer's decision, but the decision still remain's the buyers
Bribes
Payments made to buyers to influence their purchase decisions
Kickbacks
Payments made to buyers based on the amount of orders placed
Backdoor selling
Salespeople ignore the purchasing agent's policy and contact people directly involved in
the purchasing decision
Poaching
Unethical practice of stealing potential customers from other salespeople
- If the company has policies protecting customers or territories, such behavior can lead
to immediate termination
Statutory law
Based on legislation passed either by state legislatures or by Congress
- Uniform Commercial Code, U C C
- Antitrust laws
Uniform Commercial Code, U C C
