Deck 8: Sales Strategy and CRM

Question 1

The acronym ACV stands for

A) All Channel Volume
B) All Customer Volume
C) All Consumer Volume
D) All Cost Variance
E) All Commodity Volume

Answer 1

All Commodity Volume

Question 2

The acronym ASM stands for

A) Area Sales Merchandising
B) Area Sales Mechanics
C) Account Specific Merchandising
D) Account Specific Marketing
E) Account Specific Merchandise

Answer 2

Account Specific Marketing

Question 3

The acronym SPIN in Spin Selling stands for

A) Selling, Presentation, Investigation, and Notation
B) Selling, Preparation, Improving, and Notation
C) Situation, Problem, Implication, and Need Payoff
D) Situation, Preparation, Implication, and Need Payoff
E) Selling, Presentation, Improvisation, and Notation

Answer 3

Situation, Problem, Implication, and Need Payoff

Question 4

The acronym FSP stands for

A) Frequent Shopper Program
B) Frequent Shopper Promotion
C) Frequent Shopper Premium
D) Frequent Shopper Presentation
E) Frequent Services Program

Question 5

Internal challenges confronting sales today include

A) Managing customer requests
B) Integrating sales force automation tools
C) Managing channel partners
D) Controlling management apathy
E) Controlling too many employees

Question 6

The principal responsibility of a salesperson is to

A) Record customer actions
B) Sell to their force volume
C) Create new promotions for their account
D) Serve customers and add value to relationships
E) Build friendships with customers

Question 7

In transactional selling customers are treated as

A) Prospects
B) Partners
C) Valued Clients
D) Problematic individuals
E) Targets

Question 8

According to buyer process management the sales process begins when

A) Sales understands a buyer's needs
B) The facts are agreed to
C) Rapport forms between buyer and seller
D) B and D
E) A and C

Question 9

At its core CRM is

A) A means to secure customer information
B) An opportunity to get everyone informed
C) A system to integrate departments
D) A disciplined approach to customer management
E) A means to manage customers automatically

Question 10

Why is sales strategy changing today?

A) Because we have fewer sales people
B) We have less time to spend with customers
C) Customers have become larger and more important with more immediate demands
D) Customers have become more bottom-line focused
E) Sales people have more to do

Question 11

CRM systems provide for superior relationship management for all but which one of the following reasons:

A) Accurate
B) Focused
C) Timely
D) Comprehensive
E) Centrally located

Question 12

Loyalty programs become CRM programs when

A) System metrics and management of specific customer strategies are integrated
B) Systems metrics and sales people agree on account objectives
C) System metrics are leveraged with buyers
D) Specific customer strategies are prioritized
E) Customers can be individually identified

Question 13

CRM is the link between inside sales and

A) Manufacturing
B) R&D
C) Finance
D) Field Sales
E) None of the above

Question 14

CRM has value to sales people in all but which area?

A) Saving time
B) Saving travel
C) Saving effort
D) Improving productivity
E) Streamlining decisions

Question 15

Which of the following is not sales input to a CRM system?

A) Sales forecasts
B) Buyer motivations
C) Customer purchase cycles
D) Dashboard Measurement Requirements
E) Purchase authority

Question 16

Which of the following is not a typical demand on a sales force?

A) Prospecting
B) Lead qualification
C) Networking
D) Product cube requirements
E) Presentation strategies

Question 17

Which of the following industries is not consolidating?

A) Automotive
B) Banking
C) Grocery
D) Airline
E) None of the above apply.

Question 18

When we evaluate the impact of CRM and its ability to improve companyprofitability, which of the following analytics are not used?

A) ROI
B) Sales opportunities closed
C) Prediction accuracy
D) Major sales-event tracking
E) Shipments deliver on time

Question 19

Category management is the selection of the appropriate assortment, shelf space, and segment promotion for a group of products. Category management is the responsibility of

A) A single vendor
B) Two cooperating companies
C) All companies in a category work together
D) The grocery retailer is responsible
E) None of the above

Question 20

Sales forces regard CRM as a valuable tool for Category Management to improve relationships with retailers because it: (Choose the incorrect reason)

A) Improves speed of communication
B) Controls the accuracy of information
C) Defines a process for buyer-seller communication
D) Improves the quality of information exchanged
E) None of the above

Question 21

Which of the following reasons is not why On-Demand CRM systems are becoming popular?

A) They are more user friendly.
B) They don't require training.
C) They are available wherever the Internet can be accessed.
D) They are intuitive.
E) They are simpler systems.

Question 22

Server-based CRM systems have several advantages; which of the followingattributes does not describe these systems?

A) Full functionality
B) Tailored to particular industries
C) Upgradeable
D) Don't require IT involvement
E) Are software based

Question 23

Which of the following is not a reason that sales forces are reluctantto accept CRM?

A) Don't want to give customer information up
B) Don't see a personal benefit
C) Are not trained properly
D) Are not technically proficient
E) Don't trust management

Question 24

What is the best approach to secure sales force participation in CRM?

A) Reduce commission or bonus for non-participation
B) Threaten the jobs for non-compliant salespeople
C) Involve sales people in the adoption process
D) Provide financial benefit for participation
E) None of the above

Question 25

The principal responsibility of salespeople is to serve customers while adding value to the relationship.

Question 26

The greatest challenge for companies looking to use CRM is clearly demonstrating the financial benefit to a salesperson.

Question 27

Households have the same relationship with manufacturers and retailers.

Question 28

Since retailers have taken responsibility for the collection of promotion information, they have begun to exercise greater control in the distribution channel.

Question 29

A. C. Nielsen organizes all retailer scanner data for sale to manufacturers.

Question 30

CRM is technology dependent.

Question 31

Sales strategy is changing because of the need to serve larger and more influential customers more expeditiously.

Question 32

Salespeople willingly embrace and use CRM.

Question 33

A strategy statement identifies what is to be accomplished by sales people.

Question 34

CRM is the one system working to ensure coordination between sales and customer service.

Question 35

Depending on the CRM system and metrics displayed, a sales manager can access a variety of analytics to coach his or her people to improve performance in selling.

Question 36

Customer service manages much of the daily customer contact and is usually more important in resolving problems resulting from daily operations than sales.

Question 37

To ensure sales force performance against CRM objectives, the entire salesorganization requires evaluation at the national, regional, and territorial levels.

Question 38

Buyers purchase for their reasons, not those of a sales representative.

Question 39

Industry consolidation has placed remarkable pressure on sales forces to become strategic and less executional.

Question 40

What are the internal challenges being faced by sales forces today?

Question 41

What are the external challenges being faced by sales forces today?

Question 42

What is the principal responsibility of a sales representative?

Question 43

What are the two relationships that exist with households today?

Question 44

How can companies minimize organizational confusion regarding job responsibilities and CRM?

Question 45

What is a "Dashboard"?

Question 46

What group in an organization is responsible for managing the daily business of the customer?

Question 47

How does CRM help to increase customer satisfaction?

Question 48

What is the one word that best describes the foundation of successful buyer and seller relationships?

Question 49

What is at the heart of the Customer Sales Cycle?

Question 50

Discuss the two approaches that sales management can take in motivating salesprofessionals to use CRM.