-
web.groovymark@gmail.com
- December 8, 2024
Question 41
Which of the following describes a “Modular Structure”?
a) A structure that divides the business into tightly knit strategic units
b) A structure that organizes employees based on geography
c) A structure that focuses on a product line
d) A structure that groups employees by department
Answer: a) A structure that divides the business into tightly knit strategic units
Explanation: A modular structure organizes a business into small, strategic units, each focusing on specific elements of the overall organizational process.
Question 42
What is the primary focus of “Operational CRM”?
a) To track and analyze customer data for better decision-making
b) To ensure compliance with company policies
c) To manage customer interactions and improve satisfaction
d) To monitor sales quotas and performance
Answer: c) To manage customer interactions and improve satisfaction
Explanation: Operational CRM focuses on managing interactions with customers to enhance their satisfaction and experience, often through integrating sales, marketing, and support functions.
Question 43
Which of the following is a feature of “Collaborative CRM”?
a) Focuses solely on data analysis
b) Encourages collaboration between internal departments and external vendors
c) Focuses on sales quotas
d) Deals only with automated customer service
Answer: b) Encourages collaboration between internal departments and external vendors
Explanation: Collaborative CRM focuses on improving communication and cooperation between various internal departments (such as sales and finance) and external vendors to enhance customer relationships.
Question 44
What is the primary purpose of a “Customer Lifetime Value” (CLV) analysis?
a) To calculate the total revenue from all customers
b) To predict the net profit attributed to the entire future relationship with a customer
c) To determine how much a customer spends on each purchase
d) To track customer satisfaction over time
Answer: b) To predict the net profit attributed to the entire future relationship with a customer
Explanation: CLV estimates the total value a customer brings to a business over the course of their relationship, helping companies focus on long-term customer engagement.
Question 45
What is “Market Testing” used for in business?
a) To test new employees in the market
b) To forecast sales based on potential customer reactions
c) To analyze the profitability of a new business venture
d) To assess the efficiency of the supply chain
Answer: b) To forecast sales based on potential customer reactions
Explanation: Market testing involves presenting a new product or service to a small group of customers to gauge demand and predict future sales.
Question 46
What does “Cost of Goods Sold Budget” typically represent?
a) The expected revenue from selling products
b) The total cost of manufacturing and delivering a product
c) The amount allocated for marketing expenses
d) The total wages paid to employees
Answer: b) The total cost of manufacturing and delivering a product
Explanation: The cost of goods sold (COGS) budget represents the total expenses related to producing and delivering a product, such as raw materials and labor.
Question 47
What does “Lead Acquisition Cost” measure?
a) The average cost to generate a new sales lead
b) The cost to convert a lead into a paying customer
c) The number of leads acquired per salesperson
d) The total revenue generated from new customers
Answer: a) The average cost to generate a new sales lead
Explanation: Lead acquisition cost measures the expenses incurred to attract and acquire new potential customers, often used to assess the efficiency of marketing strategies.
Question 48
What is the main objective of “Upselling”?
a) To persuade customers to switch to a competitor’s product
b) To show customers a higher-end version of a product
c) To reduce inventory levels by offering discounts
d) To sell unrelated products to the same customer
Answer: b) To show customers a higher-end version of a product
Explanation: Upselling involves suggesting a higher-quality or more expensive version of a product the customer is already considering, aiming to increase the overall value of the sale.
Question 49
Which of the following best describes the “Delphi Technique” in sales forecasting?
a) A method where sales quotas are set based on previous performance
b) A group decision-making process that gathers expert opinions
c) A technique for gathering customer feedback
d) A method for predicting customer lifetime value
Answer: b) A group decision-making process that gathers expert opinions
Explanation: The Delphi technique is a forecasting method that involves collecting and refining the judgments of experts to predict future events or sales trends.
Question 50
What does “Market Potential” represent in sales forecasting?
a) The maximum sales possible for a product in a given market under ideal conditions
b) The predicted number of units a single salesperson can sell
c) The expected revenue from a new product
d) The total inventory levels required to meet sales goals
Answer: a) The maximum sales possible for a product in a given market under ideal conditions
Explanation: Market potential refers to the highest possible level of sales for a product or service in a particular market, assuming ideal conditions such as maximum customer demand.
