MARK 3337 Chapter 1

1) The term product should be broadly interpreted to encompass:
A) information, services, ideas, and issues
B) information and items
C) tangible items and issues
D) all tangible itemsE) all intangible items
A
2) The development of a personal selling philosophy involves all of the following EXCEPT:
A) a full acceptance of the marketing concept
B) a full appreciation of the tenets of the free enterprise system
C) developing an appreciation for the expanding role of personal selling in our competitive national and international markets
D) assuming the role of a problem-solver in helping customers make complex buying decisions
E) assuming the role of a partner in helping customers make complex buying decisions
B
3) A major development that has helped the information economy is:
A) new demands for improved customer service
B) recognition that customers want more information
C) major advances in information technology
D) the need for more strategic alliances
E) diversification of products
C
4) Which of the following statements accurately describes value-added selling?
A) The value added by salespeople today is increasingly derived from tangibles.
B) The value added by salespeople today is increasingly derived from intangibles.
C) Value-added selling surfaced during the evolution of strategic selling.
D) Value-added selling would not be an appropriate strategy in international markets.
E) Value-added selling is only appropriate for services, not products.
B
5) The ultimate goal of the “marketing concept” is:
A) product diversification
B) customer satisfaction
C) brand loyalty
D) rising profit margins
E) efficiency of production
B
6) Which of the following statements would NOT be an application of the marketing concept?
A) Let’s speed up production and get these products to customers faster by eliminating the field test.
B) Let’s show these product designs to some prospective buyers for their reactions.
C) Let’s examine our points of distribution to see if we’re reaching the market effectively.
D) Let’s do some research to see which colors the consumers prefer.
E) Let’s ask customers which products they used most heavily.
A
7) When UPS was first established, founder Jim Casey described the firm’s focus as follows:
A) To become a leader in international shipping
B) To become the world’s most profitable company
C) To render perfect service to our stores and their customers
D) To become the world’s most efficient shipping company
E) To become the fastest shipper in the world
C
8) All of the following are elements of the marketing mix EXCEPT:
A) personnel
B) product
C) promotion
D) place
E) price
A
9) The promotion element of a marketing program can be subdivided into the areas of:
A) sales, promotion, and advertising
B) market research, personnel, and product publicity
C) product research, product design, product production, and product publicity
D) public relations, place, personal selling, and personnel
E) sales promotion, public relations, personal selling, and advertising
E
10) In a market characterized by vigorous competition, look-alike products and customer loyalty that depends on quality relationships as well as quality products, the salesperson should fully utilize the:
A) product strategy
B) customer strategy
C) presentation strategy
D) relationship strategy
E) marketing strategy
D
11) A well-thought-out plan for establishing, building, and maintaining quality relationships is a:
A) relationship strategy
B) customer strategy
C) product strategy
D) presentation strategy
E) personal selling philosophy
A
12) Sharon Wiley is a sales representative employed by a leading producer of pharmaceuticals used in veterinary medicine. Recently she attended a university-sponsored seminar that focused on new research findings in selected areas of veterinary medicine. Ms. Wiley is attempting to develop a:
A) relationship strategy
B) customer strategy
C) service strategy
D) presentation strategy
E) product strategy
E
13) All of the following are broad strategic areas of the Strategic/Consultative Selling Model EXCEPT:
A) relationship strategy
B) product strategy
C) customer strategy
D) service strategy
E) presentation strategy
D
14) Eric Villa obtained a license to sell real estate and then accepted a sales position with a local Century 21 agency. To prepare for this new position, he purchased and read a research report entitled “Buying Habits of Today’s Home Buyers.” Mr. Villa is attempting to develop a:
A) presentation strategy
B) product strategy
C) customer strategy
D) relationship strategy
E) price strategy
C
15) The four broad strategic areas of the Strategic/Consultative Selling Model are:
A) connected to each other
B) in conflict with each other
C) independent of each other
D) not independent of each other
E) identical to each other
D
16) Preparing objectives for the sales presentation and a plan to reach those objectives is the:
A) product strategy
B) customer strategy
C) presentation strategy
D) relationship strategy
E) marketing strategy
C
17) The customer strategy always takes into consideration:
A) maintaining a close partnership
B) what the customer needs
C) the profit margins of the product
D) the relationship between the selling partners
E) the company’s sales quotas
B
18) When a marketer decides to adopt partnering, emphasis will be placed on:
A) selling strategies
B) product development
C) selling tactics
D) the customer
E) the salesperson
D
19) The evolution of strategic selling can be traced to:
A) a need to use fewer salespeople to sell more products
B) the growing demand for less expensive products
C) the need for salespeople to master sales force automation practices
D) new levels of competition
E) several trends that resulted in a more complex selling environment
E
20) Customers want quality products and:
A) quality relationships
B) low prices
C) free shipping
D) custom installation
E) little contact
A
21) The highest form of partnering is the:
A) marketing alliance
B) value-added alliance
C) partnering alliance
D) customer partnership alliance
E) strategic selling alliance
E
22) A partnership is beneficial for both parties because the successive sales are:
A) equal to the initial sales
B) greater than the initial or repeat sales
C) not necessarily guaranteed
D) a function of the price of the product
E) transactional in nature
B
23) Account managers from Campbell’s help add value for their culinary customers by:
A) giving them cheaper prices
B) selling more products than the competition
C) helping them improve their menus
D) providing various payment options
E) expediting shipments
C
24) Achieving a marketplace advantage by teaming up with another company whose products or services fit well with your own is referred to as a:
A) marketing strategy
B) customer strategy alliance
C) sales strategy
D) strategic selling alliance
E) successive sales alliance
D
25) For a strategic alliance to be successful, the first step is for a company to:
A) enlist legal assistance to make sure its interests are protected
B) talk to the customer to discover what its needs are
C) assemble a team of product experts
D) define the ethical guidelines that will apply to the alliance
E) find out as much about the proposed partner as possible
E
26) Maintaining high ethical standards:
A) can strengthen your relationship with a customer
B) should be secondary to closing a sale
C) is rare in the world of sales
D) will lead to lost revenue for a company
E) often puts you in conflict with your customers
A
27) CRM software is used to hold information about all of the following EXCEPT:
A) customers
B) competitors
C) prospects
D) coworkers
E) suppliers
B
28) The process of building and maintaining strong customer relationships by providing customer value is called:
A) marketing concept
B) value-added selling
C) customer relationship management
D) personal sales philosophy
E) customer strategy
C
29) The effective exchange of information is the foundation of most economic transactions. This is known as:
A) exchange theory
B) personal selling
C) the value-added economy
D) the information economy
E) the post-consumer economy
D
30) All of the following are steps to creating and delivering the customer value model EXCEPT:
A) understanding the customer’s value needs
B) creating the value proposition
C) communicating the value proposition
D) delivering the value proposition
E) presenting the value proposition
E