Question 1

When buyers begin the process of searching for and qualifying potential solution providers, they're likely to use which of the following sources of information?

Accepted Answer

Buyers are likely to use all of the above sources of information when searching for and qualifying potential solution providers. The World Wide Web provides a vast amount of information about companies and their products/services, trade associations offer industry-specific information and networking opportunities, trade publications offer in-depth coverage of industry topics and trends, and trade shows allow buyers to see and compare products/services in person.

Question 2

Once the buyer has completed phase three of the buying process (a description of the characteristics of the item and quantity needed), the buyer should:

Accepted Answer

Once the buyer has completed phase three, they should begin searching for and qualifying potential solution providers. This means looking for suppliers or vendors who can offer the item that meets the specified characteristics and quantity needed.

Question 3

The evaluative attributes which the salesperson can affect through value-added service (beyond what the core product offers) are called?

Accepted Answer

Psychological attributes are those that can be influenced by the salesperson through value-added services, enhancing the customer's perception and experience beyond the core product.

Question 4

The evaluative attributes which the salesperson's core product's performance can affect are called?

Accepted Answer

The answer of The evaluative attributes which the salesperson's core...

Question 5

Suppose you're a salesperson making a sales proposal to a potential customer. During the presentation you learn your product offering will not maximize the buyer's evaluation score in comparison with a competitor's offering. Which the following is probably the best strategy for you follow?

Accepted Answer

Instead of hiding or downplaying the weaknesses, it is better to address them and modify the offer to better match the buyer's needs. This way, you demonstrate a willingness to work with the buyer and provide a solution that meets their specific requirements. Additionally, this approach can help build trust with the buyer, which can lead to a long-term business relationship.

Question 6

Which of the following is not a strategy for improving the chances that the buyer will evaluate your offer as most favorable?

Accepted Answer

Presenting a list of all of your offer's benefits is a common and effective strategy for improving the chances that the buyer will evaluate your offer as most favorable. Therefore, B is not the correct answer. A, C, D, and E are all effective strategies for improving the likelihood that the buyer will see your offer as the best option. A involves altering the buyer's beliefs about your product, while C involves altering their beliefs about the competition's product. D involves adjusting the importance weights given to different attributes of the product, and E involves calling attention to attributes that may have been overlooked in the buyer's evaluation.

Question 7

It is important for salespeople to be familiar with the basic types of buyer needs to help ensure that:

Accepted Answer

Being familiar with the basic types of buyer needs can help salespeople ensure that they have fully understood the buyer's needs and requirements, and that no significant problems or needs have been overlooked in the process of needs discovery. This can help ensure that the salesperson is able to offer a solution that meets the buyer's needs and expectations, which in turn can lead to increased satisfaction and loyalty. However, knowing the types of buyer needs alone may not lead to the buyer being happy with the product, the buyer learning to trust the salesperson, or the salesperson being able to match benefits to the needs of the buyer.

Question 8

The evaluative attributes related to how things are carried out and done between the buyer and the seller are called?

Accepted Answer

The answer of The evaluative attributes related to how things...

Question 9

The second stage of the buying process is to determine the general characteristics of a solution to a particular problem or need. As a salesperson, you should want to assist the buyer as they move through this stage because:

Accepted Answer

All of the choices listed are reasons why a salesperson should want to assist the buyer in determining the general characteristics of a solution to their problem or need. By building trust, gaining insight into the buyer's true needs, and learning how to create a fully customized solution, the salesperson can establish a strong relationship with the customer that will lead to successful sales in the future.

Question 10

RFP is an acronym for:

Accepted Answer

RFP stands for Request for Proposals, which is a document or announcement made by a company or organization to solicit proposals from the prospective vendors to provide a solution or a product based on their requirements.

Question 11

Suppose you're working as a salesperson and one of your prospects tells you they are interested in your product because it is the one best suited for performing a particular task. Which of the following needs is the buyer expressing?

Accepted Answer

The answer of Suppose you're working as a salesperson and...

Question 12

The evaluative attributes related to what the product actually does or is expected to do are called?

Accepted Answer

Functional attributes are related to the product's actual function or expected performance. This can include things like durability, reliability, speed, efficiency, and other performance-related features.

Question 13

When using the multi-attribute model for evaluating suppliers and products, buyers must remember to:

Accepted Answer

The multi-attribute model requires the buyer to apply weights to the desired characteristics, indicating their relative importance. This allows for a more thorough evaluation of suppliers and products based on multiple attributes rather than just one or a few. The other options mentioned are not necessarily required when using the multi-attribute model.

Question 14

Which of the following is necessary for using the multi-attribute model?

Accepted Answer

The multi-attribute model requires both an assessment of how well the product or supplier performs in meeting each of the specified characteristics and an assessment of the relative importance of each specified characteristic. Therefore, option E, which includes both of these requirements, is necessary for using the multi-attribute model. Options B and C are not relevant to this model, and option A alone is not sufficient as it does not consider the relative importance of each characteristic.

Question 15

If a buyer mistakenly believes that a competitor's offering has higher level attributes or qualities than it actually does, the salesperson should attempt to:

Accepted Answer

The salesperson should attempt to correct the buyer's misconceptions by altering their beliefs about the competitor's offering. This can be done by providing accurate and factual information about the features and benefits of both products. Misrepresenting the competitor's offering could lead to ethical issues and damage the long-term relationships with the buyer.

Question 16

Suppose that, as a salesperson, you know that one of your potential buyers uses the multi-attribute model when making purchase decisions. Before making your proposal, you should probably try to accomplish which of the following?

Accepted Answer

Understanding the importance weights the buyer will assign to the desired characteristics is crucial when using the multi-attribute model. This information helps the salesperson tailor their proposal to the buyer's specific needs and preferences. Options A, B, and D may also be important, but without knowing the weights the buyer assigns to the desired characteristics, it may not be possible to effectively address their needs and preferences. Option E is not a valid choice because it does not provide a response to the question.

Question 17

Needs which represent the desire for personal development and information are called?

Accepted Answer

Knowledge needs represent the desire for personal development and information, which is not covered by situational, functional, social, or psychological needs. Situational needs arise due to a particular situation, while functional needs are related to specific functions or features of a product or service. Social needs are driven by the desire to connect with others, while psychological needs relate to emotional or psychological well-being.

Question 18

Which of the following is not one of the general types of purchasing decisions?

Accepted Answer

Repetitive rebuys are not typically classified as a general type of purchasing decision. The common types are straight rebuys, modified rebuys, and new tasks.

Question 19

The two general categories of attributes making up the two-factor model of evaluation are?

Accepted Answer

The answer of The two general categories of attributes making...

Question 20

Suppose you're working as a salesperson and one of your prospects tells you they are interested in your product because your company provides the best training and consultation. Which of the following needs is the buyer expressing?

Accepted Answer

The buyer is expressing a need for knowledge, as they are interested in the training and consultation services provided by the company, which are aimed at enhancing their understanding and skills related to the product.

Quiz 3: Understanding Buyers