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web.groovymark@gmail.com
- December 8, 2024
Question 01
What is “Consultative Selling”?
a) A sales technique focused on quick sales
b) A method where the seller becomes a trusted advisor and focuses on customer needs
c) The process of using social styles to adjust a sales approach
d) A tactic to close sales as quickly as possible
Answer: b) A method where the seller becomes a trusted advisor and focuses on customer needs
Explanation: Consultative selling is about building relationships, understanding customer needs, and providing tailored solutions rather than focusing solely on closing the sale.
Question 02
Which of the following best describes “Relationship Selling”?
a) Focused on achieving quick, transactional sales
b) Centered on long-term relationship building with customers
c) A strategy that revolves around offering discounts
d) The process of reaching a wide audience through marketing
Answer: b) Centered on long-term relationship building with customers
Explanation: Relationship selling prioritizes building trust and nurturing long-term relationships with customers, leading to repeat business and loyalty.
Question 03
What is the primary focus of “Transactional Selling”?
a) Building long-term relationships
b) Achieving quick, short-term sales
c) Developing tailored marketing strategies
d) Enhancing customer loyalty
Answer: b) Achieving quick, short-term sales
Explanation: Transactional selling focuses on completing sales quickly with little emphasis on building long-term customer relationships.
Question 04
What does the “AIDA Model” stand for?
a) Attention, Interaction, Desire, and Action
b) Awareness, Interest, Desire, and Action
c) Attraction, Interest, Decision, and Action
d) Attention, Innovation, Decision, and Activity
Answer: b) Awareness, Interest, Desire, and Action
Explanation: The AIDA model outlines the stages a customer goes through from becoming aware of a product to making a purchase decision.
Question 05
What is the main difference between the AIDA model and the Six-Step Buying Process?
a) The AIDA model focuses only on the customer relationship after purchase
b) The Six-Step Buying Process considers the after-purchase relationship
c) The AIDA model focuses on selling directly to businesses
d) The Six-Step Buying Process is based on marketing strategies
Answer: b) The Six-Step Buying Process considers the after-purchase relationship
Explanation: The Six-Step Buying Process extends beyond the AIDA model by emphasizing the ongoing relationship between buyer and seller after the purchase.
Question 06
What is “Adaptive Selling”?
a) The process of using the same sales tactics for all customers
b) Customizing a sales approach based on the customer’s social style
c) Implementing automated sales techniques
d) A strategy focused only on price negotiation
Answer: b) Customizing a sales approach based on the customer’s social style
Explanation: Adaptive selling involves adjusting sales techniques based on the personality and preferences of the customer to create a more personalized experience.
Question 07
What does the “Analytical” social style focus on?
a) Emotions and relationships
b) Fast-paced decision making
c) Facts and data to understand how something works
d) Appearance and presentation
Answer: c) Facts and data to understand how something works
Explanation: The Analytical social style is characterized by a focus on details, logic, and data-driven decision-making processes.
Question 08
What is a key characteristic of the “Driver” social style?
a) Low assertiveness and low responsiveness
b) High responsiveness and low assertiveness
c) High assertiveness and a focus on results
d) Low responsiveness and a focus on emotions
Answer: c) High assertiveness and a focus on results
Explanation: The Driver social style is characterized by high assertiveness and a preference for getting results quickly, focusing on the “what” rather than the “how” or “why.”
Question 09
Which social style is most focused on building personal relationships?
a) Analytical
b) Amiable
c) Driver
d) Expressive
Answer: b) Amiable
Explanation: People with the Amiable social style prioritize personal relationships and cooperation, focusing on “why” rather than on data or results.
Question 10
What does “Value Proposition” refer to?
a) The number of products offered by a company
b) The price at which a product is sold
c) The benefit a product or service offers compared to its cost
d) The estimated value of the company
Answer: c) The benefit a product or service offers compared to its cost
Explanation: A value proposition is the promise of value a product or service delivers to the customer, clearly stating why it is better than alternatives.
Question 11
What is “Customer Lifetime Value” (CLV)?
a) The total value of a single transaction
b) The predicted net profit attributed to the entire future relationship with a customer
c) The number of transactions a customer makes in a year
d) The revenue generated by a single sale
Answer: b) The predicted net profit attributed to the entire future relationship with a customer
Explanation: CLV measures the total financial value a customer brings to a business over the duration of the relationship.
Question 12
What is “Return on Customer Investment”?
a) The percentage of sales growth achieved in a year
b) A measure of how much value a business creates per customer
c) The total amount spent to acquire a customer
d) The revenue generated by marketing campaigns
Answer: b) A measure of how much value a business creates per customer
Explanation: Return on Customer Investment evaluates the financial return a company gains from its investment in customer relationships.
Question 13
What does “Strategic Business Unit” (SBU) mean?
a) A company’s sales department
b) A part of the business focusing on a specific product or market segment
c) A department handling human resources
d) The logistics and supply chain division
Answer: b) A part of the business focusing on a specific product or market segment
Explanation: An SBU is a division within a larger organization that focuses on a particular product line or market, acting as a separate profit center.
Question 14
What is the “Law of Psychological Reciprocity”?
a) The tendency to reciprocate when someone does something positive for you
b) A method of gaining repeat business
c) A strategy for collecting customer feedback
d) A law that governs the pricing of goods and services
Answer: a) The tendency to reciprocate when someone does something positive for you
Explanation: The Law of Psychological Reciprocity states that people feel compelled to return a favor or positive action when someone does something nice for them.
Question 15
What is “Sustainable Competitive Advantage”?
a) A pricing strategy that undercuts competitors
b) A company’s ability to remain competitive for a long period through unique assets or abilities
c) Offering the lowest-priced products in the market
d) The practice of offering multiple product lines
Answer: b) A company’s ability to remain competitive for a long period through unique assets or abilities
Explanation: A sustainable competitive advantage gives a company a long-term edge over competitors due to factors that are difficult to duplicate.
Question 16
What is the primary goal of “Business Intelligence” (BI)?
a) To gather customer feedback
b) To improve decision-making through data analysis
c) To increase product sales through social media
d) To manage day-to-day business operations
Answer: b) To improve decision-making through data analysis
Explanation: Business Intelligence involves collecting and analyzing data to inform strategic decisions and optimize business performance.
Question 17
Which of the following is an ethical concern in marketing?
a) Selling products in bulk
b) Data collection and privacy policies
c) Increasing the number of marketing channels
d) Expanding the product line
Answer: b) Data collection and privacy policies
Explanation: Marketing ethical concerns include how companies collect, use, and protect customer data, as well as the transparency of privacy policies.
Question 18
What is “Integrated Marketing Communications” (IMC)?
a) The process of targeting customers through digital media only
b) Coordinating all promotional activities to produce a consistent message
c) Using social media as the primary marketing tool
d) Creating a separate marketing strategy for each product
Answer: b) Coordinating all promotional activities to produce a consistent message
Explanation: IMC ensures that all forms of communication and messages from the company are unified and customer-focused, enhancing the impact of marketing efforts.
Question 19
What is the purpose of “Inbound Marketing”?
a) To push a brand onto customers through advertisements
b) To attract potential customers by providing valuable content and experiences
c) To collect customer data for marketing purposes
d) To increase product sales through cold-calling
Answer: b) To attract potential customers by providing valuable content and experiences
Explanation: Inbound marketing focuses on attracting customers through content, social media, and other non-intrusive methods rather than traditional outbound tactics like cold calling.
Question 20
What is a “Customer Journey”?
a) A marketing technique to increase sales
b) The process customers go through from initial contact with a brand to making a purchase
c) The number of times a customer visits the store
d) The duration of time a customer spends considering a purchase
Answer: b) The process customers go through from initial contact with a brand to making a purchase
Explanation: The customer journey refers to the various stages a buyer goes through before, during, and after making a purchase.
