Test your basic knowledge |

Personal Selling

Subject : business-skills
Instructions:
  • Answer 50 questions in 15 minutes.
  • If you are not ready to take this test, you can study here.
  • Match each statement with the correct term.
  • Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.

This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.
1. Dollar amount added to the product cost to determine its selling price






2. Business conversations between buyers and sellers that occur as salespeople attempt to initiate - develop - and enhance customer relationships. Sales dialogue should be customer-focused and have a clear purpose.






3. Money available to cover the costs of marketing - operating the business - and profit.






4. The added value or favorable features of the product or service the seller offers






5. Sales presentation that includes scripted sales calls - memorized presentations - and automated presentations. little training is required; inflexible/not customizable; difficult to build trust






6. ABC analysis the simplest and most often used method for classifying accounts. Accounts are categorized on the basis of a single factor and placed into three or four categories






7. Territory routing plan in which salespeople start from their offices and make calls in one direction until they reach the end of the territory.(located in clusters away from one another)






8. Forestall - Direct Denial - indirect denial - compensation - question - third party reinforcement






9. It is important to uncover the ________________ and match them with the benefits of your product in the presentation






10. The money remaining after the costs of marketing and operating the business are paid






11. Power that stems from a formal management position in an organization and the authority granted to it






12. (amount added to cost/selling price)






13. Power that results from characteristics that command subordinates' identification with - respect and admiration for - and desire to emulate the leader






14. A quality or characteristic of a product or service that is designed to provide value to a buyer






15. Extensive training is required: customizable; interactive fosters trust






16. Certainty - uncertainty - significance - connection and love - needs of spirit






17. Executive summary - situation analysis - needs benefits analysis - company description - pricing and sales agreement - suggested action and timetable






18. Single-factor analysis - portfolio analysis






19. Power that results from the authority to bestow rewards on other people






20. Prospect information - customer proposition - sales call objective - situation and needs analysis - competitive situation - beginning sales dialogue - anticipate questions & objections - earn prospect commitment - building value through follow-up a






21. 1) non-cumulative quantity discounts 2) cumulative quantity discounts 3) cash discounts 4) trade discounts 5) consumer discount:






22. Introductory approach - product approach - benefit approach - question approach - referral approach - compliment approach - survey approach






23. The process of first deciding what is to be accomplished and then placing into motion the proper plan designed to achieve those objectives






24. Prospecting - Preapproach - approach - presentation - trial close - objections - meet objections - trial close - close - Follow-up






25. Use the opinion or data from a third party source to help overcome the objection and reinforce the salesperson's points






26. List price - net price - zone price - FOB shipping point - FOB destination






27. Listen carefully and get the whole story - Ask the customer what s/he would like you to do - Negotiate an agreeable solution






28. Manufacturer reduces prices to channel members to compensate for services they perform






29. Intensity - Persistence - Direction






30. One time reduction in prices commonly used in both consumer and industrial goods






31. Power that stems from the authority to punish or recommend punishment






32. Price after allowance for all discounts






33. Assessment - Discovery - Activation - Projection - Transition






34. 1) 7-10 times more expensive to get a new customer compared to retaining an old one. 2) 5% increase in customer retention can increase profits from 25% to 125% 3) most fortune 500 companies lose 50% of their customers in five years






35. 1. attention 2. interest 3. desire4. conviction 5. purchase






36. An appointment - agreement for next meeting - agreement for product demo - a sale






37. Price based on geographical location or zone of customers






38. The seller pays all shipping costs






39. 1) Interact- maximize number of critical encounters 2) Connect- maintain contact with multiple members of the buying team and maintain consistency of the message 3) Know- interpret the gathered information from multiple sources and develop insights i






40. Standard price charged to customers






41. An in-person meeting between a salesperson or sales team and one or more buyers to discuss business.






42. 1. Setting Goals and Objectives tory Analysis and Account Classification 3. Development and Implementation of Strategies/Plans 4. Tapping Technology and Automation 5. Assessment and Evaluation






43. Counterbalance the objection with an offsetting benefit question: ask the buyer assessment questions to gain a better understanding of the source of the objection






44. 1) Gain agreement on solution 2) Take action; educate the customer 3) Follow through on all promises -- add value






45. 1. Introduction 2. Need discovery 3. Present benefits addressing the buyer's explicit needs 4. Continuation of prior sales calls should start with a summary of earlier calls 5. Pricing issues should not be focused on until the customer's needs have b






46. A flexible planning tool that assists the salesperson in assembling pertinent information to be covered with the prospect.






47. A statement of how the sales offering will add value to the prospect's business by meeting a need or providing an opportunity.






48. Some training is required; customizable while being written but not delivered; may be percieved as more credible






49. Personal goals - sales call goals - account goals - territory goals






50. Territory routing plan in which the salesperson works a different part of the territory and travels in a circular loop back to the starting point.(concentrated in clusters - in different locations)