Marketing 3305 Chapter 17 Quiz

When a company retains an additional 5 percent of its customers each year, profits will increase by as much as _____.
25%
For which of the following products would its producer be more likely to choose personal selling rather than advertising or sales promotion to market it?
HD television
_____ is the ultimate goal of a new trend in marketing that focuses on understanding customers as individuals instead of as part of a group.
customer relationship management (CRM)
Aside from the usual characteristics, sales managers look for _____ in sales recruits.
empathy, sociability, ego strength, creativity
When Sony PlayStation users want to access amenities on the Sony Web site, they are required to log in and supply information such as their name, e-mail address, and birth date. They are also given the opportunity to complete a survey that captures much more information about them and their gaming habits. Sony gathers this information and makes it available internally to better serve the customer. This is an example of a company using:
knowledge management
Effective sales management begins with:
determining sales goals
A _____ is a determination of the customer’s specific needs and wants and the range of options the customer has for satisfying them.
needs assessment
_____ involves delegating authority to solve customers’ problems.
empowerment
Personal selling is more important than advertising and sales promotion if:
the products being sold are technically complex.
When Burpee Gardening company collects relevant information from customers, such as date of last communication with the customer and how often the customer contacts the company, this is an example of:
capturing relevant customer data on interactions.
After Ruth and Mike had paid in advance for their week’s stay at a Vermont Inn, Ruth felt that they might have chosen poorly and that they were committing themselves to stay at a place they might hate. Then Ruth got a letter from the Inn’s owner stating that she was looking forward to their visit and asking what they most enjoyed for breakfast. The hospitality of the letter dealt with Ruth’s cognitive dissonance by:
reinforcing her purchase decision
_____ is a process of finding out about potential clients from friends, business contacts, coworkers, acquaintances, and fellow members in professional or civic organizations.
networking
The _____ is a process that describes the homework that must be done by a salesperson before he or she contacts a prospect.
pre approach
A _____ is a written document or professional presentation. A _____ is a formal meeting.
sales proposal; sales presentation
Joe Hamas sells for Rush Beverages. He is trying to convince retailers to carry his company’s Ginseng Rush, a new all-natural beverage that delivers an energy punch without caffeine. When he gets retailers to agree to stock his product, he asks them for the names of other retail operations that might be interested in carrying it. He is using _____ to get his sales leads.
referrals
To initiate the CRM cycle, a company must first:
identify customer relationships with the organization
Customer relationship management initially was popularized as _____.
one-to-one marketing
A _____ is a determination of the customer’s specific needs and wants and the range of options the customer has for satisfying them.
needs assessment