MKT 440 Exam 1 | Actual study set |
Questions and verified Answers
The Strategy Hierarchy - ANSW-Corporate strategy determines Marketing strategy, which determines
Sales strategy.
Detail increases as you move down.
Corporate Strategy - ANSW-Vision, Goals, Strategies, and Initatives
Marketing Stratagy - ANSW-Markets, Relationships, Investment, and Objectives
Sales Strategy - ANSW-Customers, Selling Approach, Systems and Processes, and Structure
Selling Approach - ANSW-What kind of approach: Transactional, Affiliative, Enterprise, and Problem
solving or Consultative
Transactional - ANSW-Finish sale as quickly and as easily as possible.
Key to success is volume.
Affiliative - ANSW-Based on the friendship or relationship between the salesperson and the individual
buyer.
Problem Solving or Consultative - ANSW-Identify and solve a client's problems. Also called needs-
satisfaction selling or problem/solution selling.
Enterprise - ANSW-Based on not only person-to-person relationships, but on Company-to-company
relationships. B2B concept.
What is the sales function in supply chains? - ANSW--Locate potential buyers
-Communicate and influence
-Conduct a transaction (exchange of vote)
The Selling Process - ANSW-A constant cycle of prospecting, Presenting, and Closing.
Prospecting, pre-approach, approach, needs identification, presentation, handling objectives, closing the
sale, and implementation/follow up.
How does the Selling Approach influence the Selling Process? - ANSW-No matter what selling approach
you use the emphasis of the selling process is on the presentation. The key to success is make as many
presentations as possible.
The Selling Cycle - ANSW-The time it takes to complete the selling process
Passive sales in the supply chain - ANSW-The salespersons sales forecast influences what happens in the
supply chain, but the salesperson is not actively influencing the chains activity.
Active sales in the supply chain - ANSW-The salesperson actively seeks to influence what the supply
chain does. May need to handle special payment/shipping terms of the buyer.
Sales Channel - ANSW-The channel or channels used to accomplish the selling function.
Direct Channel - ANSW-When the product is delivered from the seller directly to the consumer.
Company-employed sales positions - ANSW-Inside Salesperson, Field Representative, Account Manager,
Vertical Market Rep, Retail Sales Rep, Trade Rep, and Missionary Salesperson.
Outsourcing - ANSW-Hiring another company to carry out a task or set of tasks, such as sales,
warehousing, delivery, and service.
, what are the 2 different selling strategies? - ANSW-transactional
relationship
transactional - ANSW-focuses on new customers
price sensitive
short term
will sell to any qualified
Relationship - ANSW-focus on existing customers
value based
long term
will sell to only qualified customers
what are the different sales forces? - ANSW-inside
outside
over counter
e-commerce
what is the selling process: - ANSW-1. prospecting
2. pre approach
3. approach
4. need assessment
5. presentation
6. meeting objections
7. gaining committment
8. follow up
objectives - ANSW-broad goals around which a strategic plan is formulated
strategies - ANSW-plans of action
tactics - ANSW-specific activites
how do sales management challenges influence the behavior of sales managers? - ANSW-coach,
develop, motivate, persuade
coach - ANSW-overcome adversity and achieve goals
develop - ANSW-individual and organizational skillz
motivate - ANSW-diversity of people in and out of company
persuade - ANSW-take action
what are sales managers challenges? - ANSW-- highly informed customer
- globalization
- new technologies
- customer diversity
-complex channels in distribution
role conflict - ANSW-what customers want and what the company will do for them
Questions and verified Answers
The Strategy Hierarchy - ANSW-Corporate strategy determines Marketing strategy, which determines
Sales strategy.
Detail increases as you move down.
Corporate Strategy - ANSW-Vision, Goals, Strategies, and Initatives
Marketing Stratagy - ANSW-Markets, Relationships, Investment, and Objectives
Sales Strategy - ANSW-Customers, Selling Approach, Systems and Processes, and Structure
Selling Approach - ANSW-What kind of approach: Transactional, Affiliative, Enterprise, and Problem
solving or Consultative
Transactional - ANSW-Finish sale as quickly and as easily as possible.
Key to success is volume.
Affiliative - ANSW-Based on the friendship or relationship between the salesperson and the individual
buyer.
Problem Solving or Consultative - ANSW-Identify and solve a client's problems. Also called needs-
satisfaction selling or problem/solution selling.
Enterprise - ANSW-Based on not only person-to-person relationships, but on Company-to-company
relationships. B2B concept.
What is the sales function in supply chains? - ANSW--Locate potential buyers
-Communicate and influence
-Conduct a transaction (exchange of vote)
The Selling Process - ANSW-A constant cycle of prospecting, Presenting, and Closing.
Prospecting, pre-approach, approach, needs identification, presentation, handling objectives, closing the
sale, and implementation/follow up.
How does the Selling Approach influence the Selling Process? - ANSW-No matter what selling approach
you use the emphasis of the selling process is on the presentation. The key to success is make as many
presentations as possible.
The Selling Cycle - ANSW-The time it takes to complete the selling process
Passive sales in the supply chain - ANSW-The salespersons sales forecast influences what happens in the
supply chain, but the salesperson is not actively influencing the chains activity.
Active sales in the supply chain - ANSW-The salesperson actively seeks to influence what the supply
chain does. May need to handle special payment/shipping terms of the buyer.
Sales Channel - ANSW-The channel or channels used to accomplish the selling function.
Direct Channel - ANSW-When the product is delivered from the seller directly to the consumer.
Company-employed sales positions - ANSW-Inside Salesperson, Field Representative, Account Manager,
Vertical Market Rep, Retail Sales Rep, Trade Rep, and Missionary Salesperson.
Outsourcing - ANSW-Hiring another company to carry out a task or set of tasks, such as sales,
warehousing, delivery, and service.
, what are the 2 different selling strategies? - ANSW-transactional
relationship
transactional - ANSW-focuses on new customers
price sensitive
short term
will sell to any qualified
Relationship - ANSW-focus on existing customers
value based
long term
will sell to only qualified customers
what are the different sales forces? - ANSW-inside
outside
over counter
e-commerce
what is the selling process: - ANSW-1. prospecting
2. pre approach
3. approach
4. need assessment
5. presentation
6. meeting objections
7. gaining committment
8. follow up
objectives - ANSW-broad goals around which a strategic plan is formulated
strategies - ANSW-plans of action
tactics - ANSW-specific activites
how do sales management challenges influence the behavior of sales managers? - ANSW-coach,
develop, motivate, persuade
coach - ANSW-overcome adversity and achieve goals
develop - ANSW-individual and organizational skillz
motivate - ANSW-diversity of people in and out of company
persuade - ANSW-take action
what are sales managers challenges? - ANSW-- highly informed customer
- globalization
- new technologies
- customer diversity
-complex channels in distribution
role conflict - ANSW-what customers want and what the company will do for them
