MKTG3701 - Final Exam (part 2) with
Answers (Latest 2025)
According to your text, ______ serve as the critical link between the firm and the customer?
salespeople
All of the following are primary roles of a sales manager except?
finding new customers
Amy just took a job with a scrap metal collection company. Her job is to search for potential
customers that need to get rid of scrap metal or those customers who wish to buy scrap metal.
Amy's job fits into the first step of the personal-selling process, that of?
prospecting
An individual or a group capable of making the decision on a good or service a salesperson is selling
is referred to as a?
prospect
As outlined in your text, all of the following are part of the feature-advantage-benefit approach
except?
it should refute any complaints or objections about the product
Compare the following statements made by a salesperson and select the one that exemplifies
handling objections?
It simply is not accurate to claim that our product is a copycat of XYZ brand. We have a patent
showing how our product is considerably different.
During which step of the personal-selling process does the salesperson establish a rapport that sets a
foundation for the relationship and asks questions to learn more about the prospect and his or her
needs and wants?
the approach step
How many steps are in the personal selling process?
seven
In which closing approach does the sales person act as if the buyer has already decided to purchase>
assumptive close
In which step of the personal-selling process would you identify key decision makers, review account
histories, and prepare a sales presentation?
the pre-approach step
Research suggests that nearly 85 percent of all salespeople, regardless of age or experience, fall
victim to?
, fear and self-doubt
The two-way flow of communication between a salesperson and a customer that is paid for by the
firm and seeks to influence the customer's purchase decision is referred to as?
personal selling
Which of the following statements about the follow-up step of the personal-selling process is not
true?
the follow-up step is not needed for repeat customers
Which sales role generally requires higher levels of education and prior sales experience in order to
establish and maintain partnership relationships with a small number of accounts?
key-account sellers
Which step of the personal-selling process is difficult because it requires the salesperson to
overcome the fear of being rejected?
gaining commitment
A measure of price sensitivity that gives the percentage change in quantity demanded in response to
a percentage change in price is known as?
price elasticity of demand
A new Home Depot opened up down the street from Hank's Hardware and has drastically reduced
prices on many of the same products that Hank sells, forcing him to go out of business. After Hank
closed his store, he noticed that Home Depot began raising its prices to more normal levels. This is
an example of?
predatory pricing
All of the following are advantages of using a price bundling strategy EXCEPT?
it benefits the consumer more than the firm
As a pricing tactic, markup pricing is?
not very effective at maximizing profits
Bowman's shoe store just received a shipment of dress boots. The manufacturer's suggested retail
price for the boots is $150.00, but Bowman's decides to price the boots at $149.95. What pricing
tactic is Bowman's most likely using?
odd pricing
Deceptive pricing involves?
intentionally misleading customers with price promotions
For the first quarter of the year, the price of the company's most popular e-reader was $129.00. The
company sold 750,000 units at this price. For the second quarter, the company decided to reduce
the price of the e-reader to $109.00. At this price point, the company sold 1.5 million units indicating
that demand for the product is?
elastic
Answers (Latest 2025)
According to your text, ______ serve as the critical link between the firm and the customer?
salespeople
All of the following are primary roles of a sales manager except?
finding new customers
Amy just took a job with a scrap metal collection company. Her job is to search for potential
customers that need to get rid of scrap metal or those customers who wish to buy scrap metal.
Amy's job fits into the first step of the personal-selling process, that of?
prospecting
An individual or a group capable of making the decision on a good or service a salesperson is selling
is referred to as a?
prospect
As outlined in your text, all of the following are part of the feature-advantage-benefit approach
except?
it should refute any complaints or objections about the product
Compare the following statements made by a salesperson and select the one that exemplifies
handling objections?
It simply is not accurate to claim that our product is a copycat of XYZ brand. We have a patent
showing how our product is considerably different.
During which step of the personal-selling process does the salesperson establish a rapport that sets a
foundation for the relationship and asks questions to learn more about the prospect and his or her
needs and wants?
the approach step
How many steps are in the personal selling process?
seven
In which closing approach does the sales person act as if the buyer has already decided to purchase>
assumptive close
In which step of the personal-selling process would you identify key decision makers, review account
histories, and prepare a sales presentation?
the pre-approach step
Research suggests that nearly 85 percent of all salespeople, regardless of age or experience, fall
victim to?
, fear and self-doubt
The two-way flow of communication between a salesperson and a customer that is paid for by the
firm and seeks to influence the customer's purchase decision is referred to as?
personal selling
Which of the following statements about the follow-up step of the personal-selling process is not
true?
the follow-up step is not needed for repeat customers
Which sales role generally requires higher levels of education and prior sales experience in order to
establish and maintain partnership relationships with a small number of accounts?
key-account sellers
Which step of the personal-selling process is difficult because it requires the salesperson to
overcome the fear of being rejected?
gaining commitment
A measure of price sensitivity that gives the percentage change in quantity demanded in response to
a percentage change in price is known as?
price elasticity of demand
A new Home Depot opened up down the street from Hank's Hardware and has drastically reduced
prices on many of the same products that Hank sells, forcing him to go out of business. After Hank
closed his store, he noticed that Home Depot began raising its prices to more normal levels. This is
an example of?
predatory pricing
All of the following are advantages of using a price bundling strategy EXCEPT?
it benefits the consumer more than the firm
As a pricing tactic, markup pricing is?
not very effective at maximizing profits
Bowman's shoe store just received a shipment of dress boots. The manufacturer's suggested retail
price for the boots is $150.00, but Bowman's decides to price the boots at $149.95. What pricing
tactic is Bowman's most likely using?
odd pricing
Deceptive pricing involves?
intentionally misleading customers with price promotions
For the first quarter of the year, the price of the company's most popular e-reader was $129.00. The
company sold 750,000 units at this price. For the second quarter, the company decided to reduce
the price of the e-reader to $109.00. At this price point, the company sold 1.5 million units indicating
that demand for the product is?
elastic
