-
web.groovymark@gmail.com
- December 8, 2024
Question 41
Which of the following defines “Account-Based Marketing” (ABM)?
a) A focus on attracting new customers through mass media
b) Personalized marketing efforts directed toward specific high-value accounts
c) The process of automating marketing and sales functions
d) Offering incentives to encourage repeat purchases
Answer: b) To attract new customers to the business
Answer: b) Personalized marketing efforts directed toward specific high-value accounts
Explanation: Account-Based Marketing (ABM) targets marketing and sales resources to a clearly defined set of high-value accounts, using personalized strategies to drive engagement and conversions.
Explanation: Customer acquisition focuses on attracting new customers to a business by promoting its products and services through marketing, advertising, and sales efforts.
Question 42
What is the function of a “Customer Relationship Management System” (CRM)?
a) To track employee performance and sales quotas
b) To manage interactions with current and potential customers
c) To store financial data and create sales reports
d) To monitor competitor activities and market trends
Answer: b) To manage interactions with current and potential customers
Explanation: CRM systems are used to manage and analyze customer interactions, improve relationships, and ensure that customer satisfaction is maintained throughout the sales process.
Question 43
Which of the following best defines “Predictive Forecasting”?
a) Predicting future market conditions using historical data
b) Creating a forecast based on customer feedback
c) Tracking current sales data and identifying trends
d) Creating a budget based on expected future sales
Answer: a) Predicting future market conditions using historical data
Explanation: Predictive forecasting uses past sales performance data to make informed predictions about future sales and market conditions.
Question 44
What is the “80/20 Rule” in sales also known as?
a) The Rule of Profit
b) The Rule of Engagement
c) The Pareto Principle
d) The Efficiency Principle
Answer: c) The Pareto Principle
Explanation: The 80/20 Rule, or Pareto Principle, states that 80% of a company’s sales typically come from 20% of its customers, emphasizing the importance of focusing on key customers.
Question 45
Which of the following defines “Cannibalization Rate”?
a) The rate at which sales of one product reduce the sales of another product
b) The rate at which customers switch from one brand to another
c) The amount of revenue lost to competitors
d) The number of repeat purchases made by customers
Answer: a) The rate at which sales of one product reduce the sales of another product
Explanation: Cannibalization rate measures the impact of a new product on the sales of existing products within the same company, particularly when the new product takes sales away from existing ones.
Question 46
Which of the following is a characteristic of “Customer Profitability”?
a) It tracks how often customers engage with the company’s website
b) It measures the net profit earned from each customer
c) It calculates the total cost of acquiring new customers
d) It measures customer satisfaction over time
Answer: b) It measures the net profit earned from each customer
Explanation: Customer profitability focuses on determining how much profit a customer generates for the company after deducting all related costs, helping the company identify valuable customer segments.
Question 47
What is the key purpose of “Sales Targeting”?
a) To forecast future market trends
b) To identify potential customers and direct marketing efforts toward them
c) To set quotas for sales representatives
d) To measure customer loyalty
Answer: b) To identify potential customers and direct marketing efforts toward them
Explanation: Sales targeting involves identifying specific customers or customer groups that are most likely to generate sales and directing marketing and sales efforts toward them.
Question 48
Which of the following describes a “Straight Rebuy” in B2B sales?
a) A new purchase from a different supplier
b) A repeat purchase of the same product without any changes
c) A modified purchase of the same product from a new supplier
d) A first-time purchase of a new product
Answer: b) A repeat purchase of the same product without any changes
Explanation: A straight rebuy occurs when a company purchases the same product from the same supplier without any modifications, typically for routine supplies or materials.
Question 49
What is a “Time-Series Technique” in sales forecasting?
a) Forecasting based on historical data patterns
b) Analyzing current sales figures to predict future trends
c) Surveying customers for sales estimates
d) Using executive opinions to create forecasts
Answer: a) Forecasting based on historical data patterns
Explanation: Time-series techniques involve using historical data trends, such as sales figures from previous years, to create forecasts for future sales performance.
Question 50
What is the “Simple Moving Average” method used for in forecasting?
a) To calculate the average sales price
b) To predict future sales by averaging past sales data over a specific period
c) To track the number of customer interactions
d) To analyze the success rate of sales campaigns
Answer: b) To predict future sales by averaging past sales data over a specific period
Explanation: The simple moving average method calculates the average sales over a set period of time, helping to smooth out short-term fluctuations and predict future sales trends.
