MARK 3337 Chapter 1 Answers

The term product should be broadly interpreted to encompass:
information, services, ideas, and issues
2) The development of a personal selling philosophy involves all of the following EXCEPT:
a full appreciation of the tenets of the free enterprise system
3) A major development that has helped the information economy is:
major advances in information technology
4) Which of the following statements accurately describes value-added selling?
The value added by salespeople today is increasingly derived from intangibles.
The ultimate goal of the “marketing concept” is:
customer satisfaction
Which of the following statements would NOT be an application of the marketing concept?
Let’s speed up production and get these products to customers faster by eliminating the field test.
When UPS was first established, founder Jim Casey described the firm’s focus as follows:
To render perfect service to our stores and their customers
All of the following are elements of the marketing mix EXCEPT:
personnel
The promotion element of a marketing program can be subdivided into the areas of:
sales promotion, public relations, personal selling, and advertising
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:
relationship strategy
A well-thought-out plan for establishing, building, and maintaining quality relationships is a:
relationship strategy
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:
product strategy
All of the following are broad strategic areas of the Strategic/Consultative Selling Model EXCEPT:
service strategy
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:
customer strategy
The four broad strategic areas of the Strategic/Consultative Selling Model are:
not independent of each other
Preparing objectives for the sales presentation and a plan to reach those objectives is the:
presentation strategy
The customer strategy always takes into consideration:
what the customer needs
When a marketer decides to adopt partnering, emphasis will be placed on:
the customer
The evolution of strategic selling can be traced to:
several trends that resulted in a more complex selling environment
Customers want quality products and:
quality relationships
The highest form of partnering is the:
strategic selling alliance
A partnership is beneficial for both parties because the successive sales are:
greater than the initial or repeat sales
Account managers from Campbell’s help add value for their culinary customers by:
helping them improve their menus
Achieving a marketplace advantage by teaming up with another company whose products or services fit well with your own is referred to as a:
strategic selling alliance
For a strategic alliance to be successful, the first step is for a company to:
find out as much about the proposed partner as possible
Maintaining high ethical standards:
can strengthen your relationship with a customer
CRM software is used to hold information about all of the following EXCEPT:
competitors
The process of building and maintaining strong customer relationships by providing customer value is called:
customer relationship management
The effective exchange of information is the foundation of most economic transactions. This is known as:
the information economy
All of the following are steps to creating and delivering the customer value model EXCEPT:
presenting the value proposition