Question 1

GrayScale Corp. is an insurance provider. If the type of market it operates in is segmented, and the competition is differentiated and growing, GrayScale is most likely to be in the _____ stage of personal-selling evolution.

Accepted Answer

GrayScale is most likely to be in the prospector stage of personal-selling evolution because the market is segmented, the competition is differentiated, and the market is growing. This means that GrayScale needs to focus on finding new customers and developing new products and services.

Question 2

The fire starting role of salespeople is most closely associated with:

Accepted Answer

The fire starting role of salespeople refers to their ability to engage customers and drive them to commit to a solution. This involves motivating the customer to take action and move forward with a purchasing decision. Options A, B, D, and E are important aspects of sales, but do not directly relate to the fire starting role.

Question 3

_____ refers to an organization's effort to develop a long-term, cost-effective link with individual customers for mutual benefits.

Accepted Answer

Relationship marketing refers to a long-term approach taken by an organization to build a strong bond with individual customers. This includes understanding their needs, preferences, and behaviors to tailor offerings to them and provide a personalized experience. The goal is to create loyalty and repeat business, leading to mutual benefit for both the customer and the organization.

Question 4

Which of the following is true of relationship marketing?

Accepted Answer

Relationship marketing utilizes message differentiation to target different markets based on their needs and preferences. It focuses on building long-term relationships with customers rather than just making short-term sales. Tracking promotional effects is an important part of relationship marketing to improve relationships, and sales representatives are often utilized in this approach. Buzz marketing is not synonymous with relationship marketing, as it is just one tactic that can be used within a larger relationship marketing strategy.

Question 5

Which of the following is the best example of relationship marketing?

Accepted Answer

Felix Inc. developing a long-term link with individual customers for mutual benefit is the best example of relationship marketing. This approach focuses on building strong, ongoing relationships with customers through personalized interactions and providing value beyond just one-time transactions. It promotes customer loyalty, repeat business, and positive word-of-mouth referrals, which can lead to long-term success for the company. The other options, such as using mass media or short-term gains, do not prioritize building strong relationships with customers in the same way.

Question 6

In the provider stage, salespeople accept orders and deliver to buyers. Identify the type of market that exists in this stage.

Accepted Answer

In the provider stage, salespeople are accepting orders and delivering to buyers, indicating that demand is higher than supply. This creates a sellers' market.

Question 7

Adoption of a customer relationship management (CRM) approach will require sales managers to:

Accepted Answer

Adopting a CRM approach typically involves decreasing the use of traditional sales strategies and focusing more on building long-term relationships and collaborations with customers.

Question 8

The _____ role of salespeople primarily focuses on outlining both an account strategy and a solutions strategy for the customer.

Accepted Answer

The mapmaking role of salespeople involves outlining strategies for accounts and solutions, helping customers navigate their needs and options effectively.

Question 9

Zest Inc. operates in a market that is characterized by focused competition that is growing in breadth of market and service offerings. The market is coactive while customer needs are mutually defined. In which stage of personal-selling evolution is Zest currently operating?

Accepted Answer

Zest Inc. is in the "Procreator" stage, where the market is coactive, and customer needs are mutually defined, indicating a collaborative approach to creating solutions.

Question 10

Which of the following types of salespeople are most likely to operate in the problem-solver stage of personal-selling evolution?

Accepted Answer

Communication systems salespeople for a telephone company are most likely to operate in the problem-solver stage of personal-selling evolution, as they deal with complex products and services that require customization and solutions to specific customer needs. They need to have a deep understanding of their customer's industry, challenges, and communication needs to be effective in selling their products.

Question 11

Nina, marketing head of Red Inc., changes the existing marketing strategy by adopting a customer relationship management (CRM) approach. Which of the following is likely to be a consequence of Nina's choice of the CRM approach?

Accepted Answer

Adoption of a CRM approach will require sales managers to develop nontraditional sales strategies. As a consequence, Nina is most likely to increase direct marketing activities as part of Red's marketing strategy. Therefore, the role of direct marketing increases.

Question 12

Which of the following stages in the evolution of personal selling is most likely to be associated with a participative market?

Accepted Answer

The problem-solver stage is most likely to be associated with a participative market because the salesperson's role changes from persuading the customer to buy a product to working collaboratively with the customer to identify and solve their problems. In this stage, the salesperson focuses on understanding the customer's needs and providing customized solutions, which requires active participation from the customer.

Question 13

What type of market prevails in the procreator stage of personal-selling evolution?

Accepted Answer

Coactive markets are characterized by a single buyer and a single seller, with the buyer having all the power. This type of market is most common in the procreator stage of personal-selling evolution, when the salesperson is trying to create a new market for a product or service.

Question 14

A sellers' market is most closely associated with the _____ stage of personal-selling evolution.

Accepted Answer

The answer of A sellers' market is most closely associated...

Question 15

Salespeople should educate themselves about their customers' businesses and regularly assess these businesses and their customers to achieve a position of knowledgeable authority. These responsibilities are most closely associated with the _____ role of salespeople.

Accepted Answer

The role of "surveying" involves understanding and assessing the customer's business environment, needs, and challenges, which aligns with educating oneself about the customer's business and regularly assessing it.

Question 16

When a firm's customer needs are mutually defined and matched with a tailored offering, the firm is most likely to be in the _____ stage of personal-selling evolution.

Accepted Answer

In the procreator stage, firms work closely with customers to define their needs and create customized solutions, aligning with the description of mutually defining needs and tailoring offerings.

Question 17

Which of the following terms is most closely associated with relationship marketing?

Accepted Answer

Relationship marketing focuses on building long-term relationships with customers, and a partnership is a key component of that. By working together as partners, both the business and the customer can benefit from the relationship. Persuasion and compliance are more closely associated with traditional marketing methods, while consultation and autonomy may be helpful in relationship marketing but are not as central as partnership.

Question 18

Which of the following statements about the stages in the evolution of selling is true?

Accepted Answer

The procreator stage involves tailoring products to meet the specific needs of customers. This stage is characterized by collaboration between the salesperson and the customer to define needs and create customized solutions. Therefore, option C, "Customer needs are matched with tailored offering in the procreator stage," is the true statement. The other options are either incorrect or do not accurately describe the stages in the evolution of selling.

Question 19

Modern salespeople bring incremental value to the customer by identifying problems and opportunities, offering alternative options and solutions, and providing solutions with tangible value. These functions of salespeople can be classified under the _____ role.

Accepted Answer

The functions of the salespeople mentioned in the sentence, such as identifying problems and opportunities, offering alternative options and solutions, and providing solutions with tangible value, indicate that they are playing the role of a "guiding" salesperson who helps the customers in making better decisions.

Question 20

Which of the following is true of competition at the persuader stage of personal-selling evolution?

Accepted Answer

The answer of Which of the following is true of...

Quiz 22: Personal Selling Online