MKT 3250 Exam Questions with Correct Answers Latest Update 2025
Referral - Answers when someone voluntarily provides the name of a potential customer
Types of compensation plans: - Answers -Salary Only
-straight-line commission
-base salary plus commission
-base salary plus bonus.
active listening - Answers hearing what an individual says, internally evaluating the message and then
responding to confirm the message was received as intended
negotiation - Answers a bargaining process focused on reaching an agreement or compromise
business acumen - Answers The ability to understand and address business situations quickly and
effectively.
grit - Answers a never-give-up attitude based on both passion and perseverance
Customer relationship management (CRM) - Answers a system for managing a company's data,
information, and interaction with current and potential customers.
new business development - Answers the activities associated with adding new customers
prospecting - Answers identifying individuals or companies who may need the selling firms products or
services
account manager - Answers focusing on developing customer satisfaction and selling more to current
clients
farmers - Answers another term for salespeople responsible for nurturing relationships with existing
customers
hunters - Answers another term for salespeople responsible for new business development
cold-calling - Answers attempting to meet or speak with someone they have never met or contacted
before
strategic account management - Answers the selection, establishment, and maintenance of close
institutional relationships with a firm's most important customers
strategic account managers - Answers responsible for overseeing several of the firms most important
accounts
, missionary selling - Answers educating customers about a product/service and encouraging them to use
it
sales engineers - Answers use expertise to help develop appropriate solutions for customers and
prospective customers
field sales, outside sales representative - Answers sell in-person and work a defined territory
inside sales representative - Answers role involving the use of phone and technology to interact with
potential buyers rather than visiting face-to-face
Eight myths about sales: - Answers 1. only salespeople need to understand how to sell.
2. only extroverts succeed in sales.
3. successful salespeople are fast-talking and manipulative
4. salespeople are unethical
5. all sales jobs are alike.
6. no need for a college degree to go into sales.
7. sales people dont need to understand accounting and finance
8. a sales career lacks security
business-to-business (B2B) - Answers a business interaction, such as a purchase, between two
organizations
business-to-consumer (B2C) - Answers an interaction between a consumer and a business
buyer - Answers the person responsible for making a personal or organizational purchase
buying organization - Answers the organization making a purchase
salesperson - Answers the individual responsible for selling the product to the buyer
supplier/ vendor - Answers the selling organization
retail buyer - Answers purchase already manufactured products and services and subsequently resell
them in retail stores
direct procurement - Answers the purchase of products and services used to create the product or
service provided to end-users
indirect procurement - Answers the purchase of products or services used in company operations
consumer - Answers fulfill personal or family needs
Referral - Answers when someone voluntarily provides the name of a potential customer
Types of compensation plans: - Answers -Salary Only
-straight-line commission
-base salary plus commission
-base salary plus bonus.
active listening - Answers hearing what an individual says, internally evaluating the message and then
responding to confirm the message was received as intended
negotiation - Answers a bargaining process focused on reaching an agreement or compromise
business acumen - Answers The ability to understand and address business situations quickly and
effectively.
grit - Answers a never-give-up attitude based on both passion and perseverance
Customer relationship management (CRM) - Answers a system for managing a company's data,
information, and interaction with current and potential customers.
new business development - Answers the activities associated with adding new customers
prospecting - Answers identifying individuals or companies who may need the selling firms products or
services
account manager - Answers focusing on developing customer satisfaction and selling more to current
clients
farmers - Answers another term for salespeople responsible for nurturing relationships with existing
customers
hunters - Answers another term for salespeople responsible for new business development
cold-calling - Answers attempting to meet or speak with someone they have never met or contacted
before
strategic account management - Answers the selection, establishment, and maintenance of close
institutional relationships with a firm's most important customers
strategic account managers - Answers responsible for overseeing several of the firms most important
accounts
, missionary selling - Answers educating customers about a product/service and encouraging them to use
it
sales engineers - Answers use expertise to help develop appropriate solutions for customers and
prospective customers
field sales, outside sales representative - Answers sell in-person and work a defined territory
inside sales representative - Answers role involving the use of phone and technology to interact with
potential buyers rather than visiting face-to-face
Eight myths about sales: - Answers 1. only salespeople need to understand how to sell.
2. only extroverts succeed in sales.
3. successful salespeople are fast-talking and manipulative
4. salespeople are unethical
5. all sales jobs are alike.
6. no need for a college degree to go into sales.
7. sales people dont need to understand accounting and finance
8. a sales career lacks security
business-to-business (B2B) - Answers a business interaction, such as a purchase, between two
organizations
business-to-consumer (B2C) - Answers an interaction between a consumer and a business
buyer - Answers the person responsible for making a personal or organizational purchase
buying organization - Answers the organization making a purchase
salesperson - Answers the individual responsible for selling the product to the buyer
supplier/ vendor - Answers the selling organization
retail buyer - Answers purchase already manufactured products and services and subsequently resell
them in retail stores
direct procurement - Answers the purchase of products and services used to create the product or
service provided to end-users
indirect procurement - Answers the purchase of products or services used in company operations
consumer - Answers fulfill personal or family needs
