MARK 3337 Chapter 1 Answers – Flashcards
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The term product should be broadly interpreted to encompass:
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information, services, ideas, and issues
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2) The development of a personal selling philosophy involves all of the following EXCEPT:
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a full appreciation of the tenets of the free enterprise system
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3) A major development that has helped the information economy is:
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major advances in information technology
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4) Which of the following statements accurately describes value-added selling?
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The value added by salespeople today is increasingly derived from intangibles.
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The ultimate goal of the "marketing concept" is:
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customer satisfaction
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Which of the following statements would NOT be an application of the marketing concept?
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Let's speed up production and get these products to customers faster by eliminating the field test.
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When UPS was first established, founder Jim Casey described the firm's focus as follows:
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To render perfect service to our stores and their customers
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All of the following are elements of the marketing mix EXCEPT:
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personnel
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The promotion element of a marketing program can be subdivided into the areas of:
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sales promotion, public relations, personal selling, and advertising
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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:
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relationship strategy
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A well-thought-out plan for establishing, building, and maintaining quality relationships is a:
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relationship strategy
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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:
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product strategy
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All of the following are broad strategic areas of the Strategic/Consultative Selling Model EXCEPT:
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service strategy
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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:
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customer strategy
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The four broad strategic areas of the Strategic/Consultative Selling Model are:
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not independent of each other
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Preparing objectives for the sales presentation and a plan to reach those objectives is the:
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presentation strategy
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The customer strategy always takes into consideration:
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what the customer needs
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When a marketer decides to adopt partnering, emphasis will be placed on:
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the customer
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The evolution of strategic selling can be traced to:
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several trends that resulted in a more complex selling environment
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Customers want quality products and:
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quality relationships
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The highest form of partnering is the:
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strategic selling alliance
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A partnership is beneficial for both parties because the successive sales are:
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greater than the initial or repeat sales
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Account managers from Campbell's help add value for their culinary customers by:
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helping them improve their menus
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Achieving a marketplace advantage by teaming up with another company whose products or services fit well with your own is referred to as a:
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strategic selling alliance
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For a strategic alliance to be successful, the first step is for a company to:
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find out as much about the proposed partner as possible
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Maintaining high ethical standards:
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can strengthen your relationship with a customer
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CRM software is used to hold information about all of the following EXCEPT:
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competitors
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The process of building and maintaining strong customer relationships by providing customer value is called:
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customer relationship management
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The effective exchange of information is the foundation of most economic transactions. This is known as:
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the information economy
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All of the following are steps to creating and delivering the customer value model EXCEPT:
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presenting the value proposition
