MAR 3400 - TEST 3 EXAM QUESTIONS AND ANSWERS WITH
COMPLETE SOLUTIONS GRADED A++ LATEST UPDATE
What percent of COB grads start their career in sales?
Over 50%
What percent of marketing grads start their career in sales?
Over 75%
Personal Selling
person to person business activity in which a salesperson uncovers and satisfies the
needs of a buyer to the mutual, long term benefit of both parties
CLV
Customer Lifetime Value
Ethics
principles governing behavior of an individual or a group. these principles establish
appropriate behavior, indicating what is right and wrong
Bottom line of Ethics
Define who and what you are and what you stand for before you need to make a tough
decision
Who makes the buying decision?
Users
Influencers
Controller
,Gatekeepers
Deciders
Purchasers
New Tasks
A customer purchases a product or service for the first time
Straight rebuys
A customer buys the same product from the original source
Modified Rebuys
The customer has purchased the product in the past but is looking for new information
Types of Buying Situations
New Tasks
Straight Rebuys
Modified Rebuys
Active Listening
Repeat, Restate, Rephrase, Clarify, Summarize
Needs Discovery Process
G - general situation questions
O - Obstacles
A - Accomplishments
L - Leverage
S - Summary and Solution
General Situation Questions
, Ask open ended questions that help you understand your prospective customers
situation.
Open ended questions get them talking about themselves.
Ex. What is currently keeping you from meeting those goals?
Obstacles
How large and how important is the customers pain?
What is slowing revenue or taking away profits?
Ex. Do you ever run out of stock of popular items?
Opportunities
How large and how important is the customers pain?
What will increase revenue or profits?
Ex. What percentage of total revenue comes from retail sales?
Outlay
How large and how important is the customers pain?
What is the cost of the issue? How much profit is lost or how much could profit
increase?
Ex. How much is there in lost revenue from stock outs?
COMPLETE SOLUTIONS GRADED A++ LATEST UPDATE
What percent of COB grads start their career in sales?
Over 50%
What percent of marketing grads start their career in sales?
Over 75%
Personal Selling
person to person business activity in which a salesperson uncovers and satisfies the
needs of a buyer to the mutual, long term benefit of both parties
CLV
Customer Lifetime Value
Ethics
principles governing behavior of an individual or a group. these principles establish
appropriate behavior, indicating what is right and wrong
Bottom line of Ethics
Define who and what you are and what you stand for before you need to make a tough
decision
Who makes the buying decision?
Users
Influencers
Controller
,Gatekeepers
Deciders
Purchasers
New Tasks
A customer purchases a product or service for the first time
Straight rebuys
A customer buys the same product from the original source
Modified Rebuys
The customer has purchased the product in the past but is looking for new information
Types of Buying Situations
New Tasks
Straight Rebuys
Modified Rebuys
Active Listening
Repeat, Restate, Rephrase, Clarify, Summarize
Needs Discovery Process
G - general situation questions
O - Obstacles
A - Accomplishments
L - Leverage
S - Summary and Solution
General Situation Questions
, Ask open ended questions that help you understand your prospective customers
situation.
Open ended questions get them talking about themselves.
Ex. What is currently keeping you from meeting those goals?
Obstacles
How large and how important is the customers pain?
What is slowing revenue or taking away profits?
Ex. Do you ever run out of stock of popular items?
Opportunities
How large and how important is the customers pain?
What will increase revenue or profits?
Ex. What percentage of total revenue comes from retail sales?
Outlay
How large and how important is the customers pain?
What is the cost of the issue? How much profit is lost or how much could profit
increase?
Ex. How much is there in lost revenue from stock outs?
