A company's set of processes relating to handling contact with customers is known as:
Client account monitoring 0.0%
Stakeholder mapping tools 0.0%
Client management software 0.0%
Customer relationship management 100.0%
A product or service specifically designed to benefit its association with the success of another product is known as a:
Parasite 100.0%
Stable mate 0.0%
Free rider 0.0%
Tie-in 0.0%
A product that is sold below the cost price in order to boost sales of other products is known as a:
dead loss 0.0%
loss-leader 100.0%
sacrificial lamb 0.0%
gambit product 0.0%
A small independent retailer needing to stock low volumes of a broad range of products would source its stock ________.
from a larger retailer 0.0%
direct from factories 0.0%
from a wholesaler 100.0%
through catalogues 0.0%
Break-even analysis helps a company determine the volume of sales at which the total revenue will equal the __________.
fixed costs 0.0%
total costs 100.0%
variable costs 0.0%
opportunity costs 0.0%
Exploiting data on items examined or purchased by a customer to advertise further products to them is known as:
Customer profiling 100.0%
Customer imaging 0.0%
Customer identification 0.0%
Customer targeting 0.0%
For which of the following businesses would a company be LESS concerned about attracting repeat business from customers?
A local window-cleaning company. 0.0%
A restaurant in a small town. 0.0%
A supermarket in a large retail park. 0.0%
A bar in an area dominated by holiday makers. 100.0%
If a customer is unsure about whether to go ahead with a purchase, which of the following might a salesperson use to attempt to close the deal? i)Emphasize the value of the product. ii)Apply emoti...
None of the above 0%
i, only 0%
ii only 0%
iii only 0%
i and ii only 0%
i and iii only 0%
ii and iii only 0%
All of the above 0%
If a member of a sales team is underperforming, what should the manager's first step be?
Ask the person concerned whether there are any specific causes of this. 0%
Request that other team members increase productivity to compensate. 0%
Warn him/her about future performance. 0%
Implement performance-management procedures. 0%
In a 'perfect' market, the selling price for a product would:
match total production costs. 0%
be below the cost of producing the item. 0%
exceed production costs by 10%. 0%
increase exactly in line with inflation. 0%
In which of the following situations would the price for a product be expected to fall?
Where the supply exceeds the demand. 0%
Where the supply and the demand are matched. 0%
Where the demand exceeds the supply. 0%
Where the supply is decreasing. 0%
Low-cost airlines use Internet-based technology to adjust prices based on demand. Which of the following is NOT a reason for this approach?
It enables them to maximize profits from late-booking customers, as these will typically have less flexibility over dates. 0%
It encourages passengers to book early thus enabling the companies to predict numbers. 0%
It maximizes profits from early-booking customers. 0%
It enables them to advertise attractively low prices while many customers are paying substantially more. 0%
Put the following stages of a negotiation into a chronological order: i)Closing and commitment ii)Preparation iii)Bargaining iv)Information exchange
i, iii, ii, iv 0%
iii, iv, ii, i 0%
iv, ii, i, iii 0%
ii, iv, iii, i 0%
Retailers often used automated 'stock-management' systems to:
ensure stock is replenished when required by monitoring sales information. 0%
organise where goods will be stored in a warehouse. 0%
monitor whether perishable goods are still in saleable condition. 0%
ensure the amount of a product being stored is maximized. 0%
Shopping has become a popular recreational activity. Which of the following facilities often provided in shopping malls does NOT reflect this?
Cinemas 0%
Food outlets 0%
Bowling alleys 0%
Banks 0%
Some transactions, especially property-related ones, are brokered by a 'disclosed dual agent'. Which of the following best characterizes this role?
An agent who is officially registered with the relevant watchdog for the sector. 0%
An agent who acts on behalf of both parties. 0%
An agent who brokers multi-national transactions. 0%
An agent who manages the transaction anonymously, so neither party knows the others identity. 0%
The acronym 'AIDA' refers to the stages of persuading a customer to purchase a product. Which of the following words is not a part of AIDA?
Attention 0%
Interest 0%
Detail 0%
Action 0%
The art of creating and developing the image of a product is known as:
Brand management 0.0%
Product design 0.0%
Product management 0.0%
Brand design 100.0%
The sales tactic of offering upgrades or add-ons in order to make the transaction more profitable is known as:
Diversification 0%
Sales expansion 0%
Customer service 0%
Up-selling 0%
The term 'Dutch auction' is best defined as:
where bidders provide sealed bids. 0%
where the asking price descends until a bidder accepts it. 0%
where bidders participate remotely by telephone. 0%
where bidders must bid for a package of lots. 0%
The term 'marginal cost' refers to additional _________________ costs.
average total 0%
indirect 0%
social 0%
fixed 0%
variable 0%
The term 'positive elasticity of demand' relates to goods:
for which sales volume is highly-sensitive to marketing activities. 0%
for which sales are strongly affected by price changes. 0%
which attract a premium due to perceived environmental friendliness. 0%
for which a higher price can increase demand. 0%
The term 'Sales Intelligence' (SI) refers to:
monitoring the abilities of the sales team. 0%
customers' ability to identify bargains. 0%
performance data about sales. 0%
choosing the best moment at which to discount products. 0%
To which of the following does the expression 'bait and switch' refer?
Where customers bid competitively for an item. 0%
Where a product is apparently offered at a low price, but customers are actually offered an alternative product. 0%
Where customers are delivered a different product from what they ordered at the same price. 0%
Where customers have to purchase a second product in order to get the one they want. 0%
Total 'sales variance' is determined by adding sales ________ variance and sales _________ variance.
volume ,type. 0%
type , price. 0%
price , volume. 0%
factor , type. 0%
What is meant by the term 'Customer Value Proposition'?
An impromptu discount made by a salesperson to clinch a sale. 0%
The sum total of benefits which the customer will receive in return for his purchase. 0%
Where the customer is asked to name their desired price for a product. 0%
The long-term benefit to the organisation of retaining that customer. 0%
When is an invoice sent to a customer?
When confirming an order that has just been made. 0%
When payment is due for an item. 0%
When the ordered item arrives. 0%
When a replacement is provided for a faulty item. 0%
Where a product is strongly 'differentiated', the seller:
should offer discounts to encourage sales. 0%
must seek as broad a market as possible. 0%
should only sell to customers purchasing large volumes. 0%
can demand a premium price. 0%
Which of following statements is/are true? i)'Cross-selling' refers to a customer-supplier relationship that covers multiple products. ii)'Cross-selling' tends to reduce the customer's administrat...
Both (i) and (ii) are true. 0%
Only (i) is true. 0%
Only (ii) is true. 0%
Neither is true. 0%
Which of the following characterizes a cold-calling approach to sales?
A low number of approaches with a low hit-rate. 0.0%
A low number of approaches with a high hit-rate. 100.0%
A high number of approaches with a low hit-rate. 0.0%
A high number of approaches with a high hit-rate. 0.0%
Which of the following consequences is/are associated with an aggressive, oppositional negotiating technique? i)A lower profit margin. ii)Reduced repeat business. iii)The sale of a product that ma...
None of the above 0%
i, only 0%
ii only 0%
iii only 0%
i and ii only 0%
i and iii only 0%
ii and iii only 0%
All of the above 0%
Which of the following does not feature in Bruce Henderson's 'BCG Matrix'?
Question marks 0%
Dying swans 0%
Dogs 0%
Cash cows 0%
Stars 0%
Which of the following is characteristic of a monopolistic market?
A high degree of competition between suppliers. 0%
Low profit margins. 0%
Customers are able to influence suppliers strongly. 0%
There may be a high degree of government regulation. 0%
Which of the following is NOT a benefit of selling over the Internet?
Reduced requirement for retail space. 0%
Higher price paid by consumer. 0%
Lower staff overheads. 0%
Access to a larger market. 0%
Which of the following is NOT a direct benefit of an effective customer service?
Increased customer loyalty 0%
Improved word-of-mouth advertising 0%
More useful feedback from customers 0%
Fewer product defects 0%
Which of the following is NOT a direct benefit of introducing a loyalty card scheme?
More detailed information about customer purchases. 0%
Increased probability of repeat business. 0%
Targeted discounts may increase sales. 0%
Reduced administrative overhead. 0%
Which of the following is NOT a key aspect of a sales manager's role?
Staff management 0%
Product design 0%
Performance monitoring 0%
Sales planning 0%
Which of the following is NOT a method of sales forecasting?
Market survey method 0%
Statistical methods 0%
Determination of sales territories 0%
Sales force composite method 0%
Which of the following is NOT a source of customer feedback on a product or service?
Surveys 0%
Focus groups 0%
Newspaper reviews 0%
After-sales contact 0%
Which of the following is NOT a valid reason for a firm to implement a price reduction?
Drive to dominate the market through lower costs 0%
Distinct market segments 0%
Declining market share 0%
Excess plant capacity 0%
Which of the following is NOT an effective approach in dealing with an angry customer?
Staying calm. 0%
Repeating advice. 0%
Raising voice. 0%
Suggesting the customer to speak with the manager. 0%
Which of the following is NOT an element of the 'promotional mix'?
Advertising 0%
Product specification 0%
Publicity 0%
Personal selling 0%
Which of the following is NOT an example of a point-of-sale promotional display?
A platform to raise a product above other ones. 0%
A basket of products outside a shop. 0%
A local radio advertisement. 0%
A sign hanging from the shop ceiling. 0%
Which of the following is NOT an example of a sales promotion?
Offering economies of scale 0%
Happy hour 0%
Buy one get one free 0%
Free gift 0%
Which of the following is NOT typically a reason for outsourcing sales?
Access to additional markets 0%
Expertise of dedicated sales organization 0%
Being cheaper than creating or expanding an in-house sales team 0%
Enhanced knowledge of the product 0%
Which of the following is/are a/the source/s of management information for a retailer? i)Data recorded by cash tills ii)Purchases made using loyalty cards iii)Customer surveys
None of the above 0%
i, only 0%
ii only 0%
iii only 0%
i and ii only 0%
i and iii only 0%
ii and iii only 0%
All of the above 0%
Which of the following items would be less suitable for sale directly over the Internet?
Mobile phones 0%
Cars 0%
Flights 0%
Books 0%
Which of the following lists the stages in the Product Life Cycle in the correct order?
Introduction stage, Market decline stage, Market maturity stage, Market growth stage 0%
Market growth stage, Market maturity stage, Introduction stage, Market decline stage 0%
Introduction stage, Market growth stage, Market maturity stage, Market decline stage 0%
Market decline stage, Introduction stage, Market growth stage, Market maturity stage 0%
Which of the following might cause a member of the sales staff's performance to be lower than his/her colleagues? i)Lack of training. ii)Less experience. iii)Personal problems
None of the above 0%
i, only 0%
ii only 0%
iii only 0%
i and ii only 0%
i and iii only 0%
ii and iii only 0%
All of the above 0%
Which of the following sales administration procedures relates to a customer purchasing an expensive item by credit card?
Credit clearance 0%
Order processing 0%
Security 0%
Customer accounts 0%
Which of the following sales methods would be best suited to the customers who were unable to visit shops and wanted a broad range of products?
Catalogue 0%
Wholesale 0%
Retail 0%
Door-to-door 0%
Which of the following statements is/are true? i)A 'Theory Y' sales manager would closely monitor the team's performance. ii)A 'paternalistic' sales manager would inform the team of changes rather...
Both (i) and (ii) are true. 0.0%
Only (i) is true. 0.0%
Only (ii) is true. 100.0%
Neither is true. 0.0%
Which of the following statements is/are true? i)A sales quote commits the supplier to a fixed price. ii)Sales quotes are unusual in situations where the total price is difficult to predict.
Both (i) and (ii) are true. 0%
Only (i) is true. 0%
Only (ii) is true. 0%
Neither is true. 0%
Which of the following statements is/are true? i)All customers should be given the same level of customer service for a given product. ii)Customer service is cost-neutral.
Both (i) and (ii) are true. 0%
Only (i) is true. 0%
Only (ii) is true. 0%
Neither is true. 0%
Which of the following statements is/are true? i)An effective salesman needs to consider the customer's self-esteem as well as the value of the product. ii)An effective salesman should create dema...
Both (i) and (ii) are true 0%
Only (i) is true 0%
Only (ii) is true 0%
Neither is true 0%
Which of the following statements is/are true? i)Negotiations are invariably a zero-sum game. ii)Developing a rapport is detrimental to negotiations.
Both (i) and (ii) are true. 0%
Only (i) is true. 0%
Only (ii) is true. 0%
Neither is true. 0%
Which of the following statements is/are true? i)Offering financial rewards for strong performance is the best way to motivate staff. ii)Hygiene factors, such as the perception of job security, ar...
Both (i) and (ii) are true. 0%
Only (i) is true. 0%
Only (ii) is true. 0%
Neither is true. 0%
Which of the following statements is/are true? i)Premium-rate helplines can be used to reduce a company's cost of customer service provision. ii)Customer service applies only up to the point at wh...
Both (i) and (ii) are true. 0%
Only (i) is true. 0%
Only (ii) is true. 0%
Neither is true. 0%
Which of the following statements is/are true? i)The demographics of the target market should not affect a company's decision about whether to adopt an 'Internet-only' sales approach. ii)Customer ...
Both (i) and (ii) are true. 0%
Only (i) is true. 0%
Only (ii) is true. 0%
Neither is true. 0%
Which of the following statements is/are true? i)The role of marketing is to make the sales environment more favorable. ii)Effective marketing is about reducing the price at which a product can be...
Both (i) and (ii) are true 0.0%
Only (i) is true 0.0%
Only (ii) is true 100.0%
Neither is true 0.0%
Which of the following statements is/are true? i)With 'Consultative selling' the emphasis is on offering tailored solutions. ii)'Consultative selling' works best with low-cost high-volume products.
Both (i) and (ii) are true. 0%
Only (i) is true. 0%
Only (ii) is true. 0%
Neither is true. 0%
Which of the following terms denotes the task of deciding which customers will get scarce products where demand outstrips supply?
Allocating 0%
Delivering 0%
Targeting 0%
Distributing 0%
Which of the following would be important to a company that relies heavily on repeat business? i)Quality control of products ii)A narrow range of products iii)Effective after-sales service
None of the above 0%
i, only 0%
ii only 0%
iii only 0%
i and ii only 0%
i and iii only 0%
ii and iii only 0%
All of the above 0%
Which of the following would NOT be an appropriate response to the introduction of a similar product to the market by a rival company?
Reduce the product's price. 0%
Request more investment in marketing the product. 0%
Request an increase in the volume of production. 0%
Ask sales staff to emphasize the product's advantages over its rival. 0%
Which of the following would not typically be included in a monthly sales report to management?
Hit rate 0.0%
Average selling price 100.0%
Volume of sales 0.0%
Production costs 0.0%
Which of these is NOT a reason to sell via wholesalers?
The manufacturer does not have to store unsold stock. 0%
Transport costs for the manufacturer are reduced. 0%
Wholesalers have greater sales expertise. 0%
Higher prices can be charged than if selling directly to consumers. 0%
Which of these statements is/are true? i)Loyalty cards cannot be used to target certain products at particular customers. ii)Seasonal variations should not be factored into predictions of sales vo...
Both (i) and (ii) are true 0%
Only (i) is true 0%
Only (ii) is true 0%
Neither is true 0%
Why do some companies introduce self-service checkouts? i)To reduce theft ii)To reduce staff overheads iii)To reduce queuing time for customers iv)To reduce the error rate
I and II only 0.0%
i and iii only 0.0%
i and iv only 100.0%
ii and iii only 0.0%
ii and iv only 0.0%
iii and iv only 0.0%