Question 1

A relationship which is established between firms in litigious countries such as the USA or UK are likely to be:&#10;A) Established on trust.&#10;B) Established on contract.&#10;C) Established through third parties.

Accepted Answer

In litigious countries like the USA or UK, relationships between firms are more likely to be established on contracts to ensure clear terms and legal protection due to the high likelihood of litigation.

Question 2

A company contacts a building firm for the purpose of negotiating the construction of a new factory. The builders have carried out maintenance work and minor building works for the firm in the past. This is an example of:

A) A simple episode in a well-developed relationship.
B) A complex episode in a well-developed relationship.
C) A simple episode with no previous relationship.

A complex episode in a well-developed relationship.

Accepted Answer

This situation is considered a complex episode because it involves negotiating a significant project (construction of a new factory), which is more complex than maintenance work or minor building tasks. It occurs within a well-developed relationship because the builders have previously carried out maintenance and minor building works for the firm, indicating an ongoing business relationship.

Question 3

Which of the following is NOT a function of selling?&#10;A) Identify suitable possible customers.&#10;B) Identify solutions which are within the supplying firm's capabilities.&#10;C) Overcome buyers' resistance to purchase.

Accepted Answer

Overcome buyers' resistance to purchase.&#10;

Question 4

What is meant by prospecting?&#10;A) Establishing that a lead has a need for the product and the means to pay for it.&#10;B) Calculating potential sales from a given group of customers.&#10;C) Finding the names and addresses of potential buyers.

Accepted Answer

Prospecting is the process of finding the names and addresses of potential buyers.

Question 5

What is a missionary salesperson?&#10;A) A salesperson with a strong belief in the product.&#10;B) A salesperson with a charismatic personality.&#10;C) A salesperson who liaises with recommenders.

Accepted Answer

A missionary salesperson focuses on building relationships and influencing people who can recommend or influence the purchase decision, rather than directly selling the product themselves.

Question 6

A structure whereby a team of salespeople, each with different expertise, work on the sale is called:&#10;A) Solutions selling.&#10;B) System selling.&#10;C) Franchise selling.

Accepted Answer

System selling involves a team of salespeople with different expertise working together to sell a comprehensive solution to the customer.

Question 7

What is an icebreaker?&#10;A) A special discount aimed at overcoming final sales resistance.&#10;B) An opening statement to put the customer at ease.&#10;C) A refusal on the part of the buyer to go ahead with the purchase.

Accepted Answer

An icebreaker is typically an opening statement or action used to ease tension or awkwardness, especially in social interactions or meetings, aiming to put participants at ease.

Question 8

In sales parlance, what is a condition?&#10;A) A part of the agreement which the company must honour.&#10;B) A state of affairs which means that the sale cannot continue.&#10;C) A recommendation by the salesperson.

Accepted Answer

A condition in sales refers to a specific state of affairs or requirement that must be met for a sale to proceed. If this condition is not met, the sale cannot continue.

Question 9

What does SPIN stand for?&#10;A) Situation, problem, implication, need-payoff.&#10;B) Sales, profit, initiative, norms.&#10;C) Seeing Problems In Needs.

Accepted Answer

SPIN Selling is a sales technique that stands for Situation, Problem, Implication, Need-payoff, focusing on asking the right questions to understand customer needs.

Question 10

What does KAM stand for?&#10;A) Key Agency Man.&#10;B) Key Account Management.&#10;C) Keep All Movement.

Accepted Answer

Key Account Management is a strategy used by businesses to manage their most important customers.

Deck 14: Customer Relationships and Key Account Management