Question 1

The rules of netiquette encourage you to use all capital letters in e-mail that needs to be communicated quickly.

Accepted Answer

Using all capital letters in an email is considered shouting and is generally discouraged in netiquette, regardless of the urgency of the message.

Question 2

Markup is the dollar amount of money added to the product cost to determine its selling price.

Accepted Answer

Markup refers to the amount added to the cost price of goods to cover overhead and profit, determining the selling price.

Question 3

In sales, the need for netiquette mostly arises when using cell phones.

Accepted Answer

Netiquette, or internet etiquette, applies to all forms of digital communication, not just cell phone use. This includes emails, social media interactions, online forums, and any other digital communication platforms.

Question 4

Sterling Industries offers customers cash discounts for paying their bills within 10 days. Assume a Sterling Industries customer purchases $10,000 worth of goods on October 1 and the cash discount is "2/10 net 30." If the customer pays his bill on October 9, the amount due will be $9,000.

Accepted Answer

The correct amount due would be $9,800 because a 2% discount on $10,000 is $200, so $10,000 - $200 = $9,800.

Question 5

The emergence of the cloud technology has restricted more mobile, portable opportunities for salespeople.

Accepted Answer

Cloud technology has actually expanded mobile and portable opportunities for salespeople by allowing them access to data and applications from anywhere, at any time, enhancing their flexibility and efficiency.

Question 6

Net price is the standard price charged to customers.

Accepted Answer

Net price refers to the final price after all discounts, rebates, or promotions are subtracted from the list price, not the standard price charged to customers.

Question 7

Customer Relationship Management (CRM), is a technology system that helps companies manage information about existing and potential customers.

Accepted Answer

CRM systems are designed to compile information on customers across different channels or points of contact between the customer and the company, which could include the company's website, telephone, live chat, direct mail, marketing materials, and social media. CRM systems can also give customer-facing staff detailed information on customers' personal information, purchase history, buying preferences, and concerns.

Question 8

Etiquette rules for using a cell phone advise users to avoid cell yell.

Accepted Answer

Cell yell refers to speaking loudly on a cell phone in public places, which is considered poor etiquette because it can disturb others around you.

Question 9

FOB shipping point means the buyer pays all shipping costs.

Accepted Answer

In FOB (Free On Board) shipping point terms, the buyer assumes responsibility for the shipping costs and liability for the goods once they leave the seller's premises.

Question 10

A GIS is capable of revealing customer buying patterns.

Accepted Answer

A Geographic Information System (GIS) can analyze spatial and demographic data to reveal patterns in customer behavior, including buying patterns, by mapping where customers are located and correlating this with how, when, and what they purchase.

Question 11

Sales force automation systems are used for managing customer follow-up calls.

Accepted Answer

Sales force automation systems are designed to streamline various sales processes, including managing customer follow-up calls, tracking customer interactions, and automating sales tasks to improve efficiency.

Question 12

For salespeople who need to be constantly in touch with their clients, technology allows a functioning virtual office in the salesperson's home, their vehicle, hotel room, or even local coffee shop.

Accepted Answer

Technology such as smartphones, laptops, and cloud-based applications enables salespeople to work and communicate with clients from virtually anywhere, effectively creating a mobile or virtual office.

Question 13

Gross profit is the money that remains after paying the costs of marketing and operating the business.

Accepted Answer

Gross profit is the money that remains after deducting the cost of goods sold (COGS) from revenue, not including costs related to marketing and operating the business.

Question 14

Electronic calendar management can result in improved time management.

Accepted Answer

Electronic calendar management allows for better organization and scheduling of tasks, leading to improved time management.

Question 15

According to the text, The value of a CRM system lies in its ability to manage knowledge.

Accepted Answer

A CRM (Customer Relationship Management) system helps in managing and analyzing customer interactions and data throughout the customer lifecycle, which involves managing knowledge about customers to improve business relationships, retain customers, and drive sales growth.

Question 16

Salespeople who use a virtual office are not as efficient as those who work out of a stable office.

Accepted Answer

Efficiency in salespeople can depend on various factors such as personal work style, technology use, and the nature of their client base, rather than solely on whether they use a virtual office or a stable office. Many salespeople working from virtual offices leverage technology to stay connected, manage their time effectively, and can be just as, if not more, efficient than those in traditional office settings.

Question 17

E-mails sent to customers can be written in a more casual format than business letters sent by conventional mail.

Accepted Answer

The answer of E-mails sent to customers can be written...

Question 18

According to the text, time is the most vulnerable asset a salesperson has to manage.

Accepted Answer

Time management is crucial for salespeople because it directly impacts their productivity and ability to meet sales targets. Managing time effectively allows them to prioritize tasks, allocate sufficient time for prospecting, follow-ups, and closing deals, making it a vulnerable asset if not managed wisely.

Question 19

Increased worldwide interaction requires access and exchange of data on a global basis.

Accepted Answer

Increased worldwide interaction, such as international business, global collaborations, and cross-border services, necessitates the access and exchange of data across different countries and regions to facilitate communication, transactions, and operations on a global scale.

Question 20

Cumulative quantity discounts are price reductions received for buying a certain amount of a product over a stated period of time.

Accepted Answer

Cumulative quantity discounts are indeed price reductions that are given to customers who purchase a specified amount of a product within a certain timeframe, encouraging larger, more frequent orders.

Quiz 5: Sales Knowledge: Customers, Products, Technologies