Question 1

The section of the sales plan that identifies target customers by priority is called
A) opportunity analysis.
B) performance targets.
C) sales strategies.
D) sales plan implementation and control.
E) sales budgets and key resources.

Accepted Answer

The section of the sales plan that identifies target customers by priority is typically called opportunity analysis. This involves analyzing the market and identifying potential customers based on factors such as demographics, psychographics, and behavior. Once these opportunities are identified, they can be prioritized based on their potential value and likelihood of success, which can inform the development of sales strategies and performance targets. Sales plan implementation and control and sales budgets and key resources are also important elements of a comprehensive sales plan, but they focus more on execution and resource allocation than on customer targeting.

Question 2

By profiling a customer based on needs and willingness to pay, development of ___________ becomes straightforward.
A) new products
B) marketing communications strategies
C) public relations strategies
D) customer value propositions
E) market segments

Accepted Answer

Profiling a customer based on needs and willingness to pay helps in developing customer value propositions, as it aligns the product or service offerings with what the customer values and is willing to pay for.

Question 3

Through market segmentation, GE discovered that the top 30% of prospective customers were three times more likely to do business with GE than the bottom 70%. This is an example of how GE was able to
A) create customer value propositions.
B) harness the power of marketing with sales action by identifying attractive prospects.
C) create organizational silos for the sales and marketing functions.
D) revise its marketing plan.
E) identify new customers for product extensions.

Accepted Answer

Through market segmentation, GE was able to identify the top 30% of prospective customers who were more likely to do business with them. This information helped GE to focus its marketing efforts and sales action on these attractive prospects, harnessing the power of marketing, and increasing the chances of success. This demonstrates how market segmentation can help companies identify and prioritize their target customers, leading to more effective marketing strategies and improved sales performance.

Question 4

The glue binding marketing and sales is
A) product development.
B) market segmentation.
C) sales reviews.
D) brand equity.
E) customer value propositions.

Accepted Answer

The answer of The glue binding marketing and sales is
A)...

Question 5

The section of the sales plan that contains market, customer, product, and competitor analysis is called
A) the executive summary.
B) opportunity analysis.
C) performance targets.
D) sales strategies.
E) sales plan implementation and control.

Accepted Answer

The section of the sales plan that contains market, customer, product, and competitor analysis is called opportunity analysis. This section is focused on identifying potential opportunities in the market, understanding the customer needs and preferences, analyzing the product features and benefits, and evaluating the strengths and weaknesses of competitors.

Question 6

Announcing distinct but complementary roles of marketing and sales based on the understand-create-deliver-manage customer value framework was one of the steps that Arbol Industries took in the process of
A) customer segmentation.
B) new product development.
C) aligning its marketing and sales functions.
D) building brand equity.
E) improving the corporate culture.

Accepted Answer

The announcement of distinct roles for marketing and sales based on the understand-create-deliver-manage customer value framework suggests that the company is aligning these functions to better serve the customer and improve overall performance. This step is not necessarily related to customer segmentation, new product development, building brand equity, or improving corporate culture.

Question 7

Conducting reviews of segments, customers, and the product mix is an example of how the marketing function
A) understands customer needs.
B) creates customer value.
C) delivers customer value.
D) manages customer value.
E) manages customer relationships.

Accepted Answer

The answer of Conducting reviews of segments, customers, and the...

Question 8

By giving the sales force direction, we avoid any tension the salesperson may feel between serving the customer and
A) serving the marketing function.
B) delivering customer value.
C) serving key decision makers.
D) managing customer relationships.
E) serving the company.

Accepted Answer

The tension arises when salespeople have to balance the interests of the company with those of the customer. By providing clear direction, the company ensures that salespeople align their efforts with the company's goals, thus reducing any conflict between serving the customer and serving the company's interests.

Question 9

Providing feedback to other functions on what the sales function is observing in the marketplace regarding competitors, customers, and market trends is part of
A) a sales review.
B) competitive analysis.
C) market segmentation.
D) product analysis.
E) environmental analysis.

Accepted Answer

The answer of Providing feedback to other functions on what...

Question 10

Providing feedback on the market and customers to key decision makers is an example of how the sales function
A) creates customer value.
B) reviews customer segments.
C) manages customer value.
D) delivers customer value.
E) understands customer needs.

Accepted Answer

The answer of Providing feedback on the market and customers...

Question 11

Profiling a customer based on needs and willingness to pay provides the sales force with a clear understanding of
A) marketing communications strategies.
B) the total cost of ownership.
C) what can and cannot be offered to the customer.
D) brand preferences.
E) resource requirements.

Accepted Answer

Profiling a customer based on needs and willingness to pay helps the sales force understand what products or services can be offered to the customer based on their budget and requirements. It also helps them understand what they cannot offer to avoid wasting time on irrelevant offers.

Question 12

The section of the sales plan that spells out detailed tactical plans for each sales strategy is called
A) opportunity analysis.
B) performance targets.
C) sales strategies.
D) sales plan implementation and control.
E) sales budgets and key resources.

Accepted Answer

The section of the sales plan that outlines the detailed tactics for implementing each sales strategy is often referred to as the sales plan implementation and control section. This section usually details the specific steps that sales teams will take in order to carry out each aspect of the sales plan, including specific timelines and deadlines, budgets and resource allocation, and ways in which progress and success will be measured and evaluated. This section plays a critical role in ensuring that the sales plan is executed effectively and that sales teams are able to achieve their performance targets and goals.

Question 13

The key to translating marketing planning into sales action lies in
A) marketing communications.
B) market segmentation.
C) the sales review.
D) supply chain management.
E) sales force deployment.

Accepted Answer

The answer of The key to translating marketing planning into...

Question 14

GE used data from past company transactions to organize customers by the type of equipment leased and by their likelihood of wanting to do business with GE. This is an example of
A) customer segmentation.
B) understanding customer needs.
C) creating customer value.
D) a sales strategy.
E) a marketing communications strategy.

Accepted Answer

GE's use of data to organize customers by equipment leased and likelihood of repeat business is an example of customer segmentation, which involves dividing a market into smaller groups of consumers with similar needs or characteristics to create a targeted marketing approach.

Question 15

In a sales plan, value propositions by market segment and by customer are addressed in the
A) performance targets.
B) opportunity analysis.
C) sales strategies.
D) sales plan implementation and control.
E) executive summary.

Accepted Answer

Sales strategies involve determining the approach and methods for achieving sales objectives. Part of this process is identifying value propositions for different market segments and customers. This helps sales teams tailor their message and approach to specific customer needs and interests. Performance targets relate to specific goals and metrics, opportunity analysis involves assessing market opportunities, sales plan implementation and control involves ongoing management and monitoring of the plan, and the executive summary provides an overview of the plan's key points.

Question 16

Development of clear value propositions by customer type enables the development of
A) marketing communications strategies.
B) product development strategies.
C) market research strategies.
D) sales strategies.
E) brand extension strategies.

Accepted Answer

The answer of Development of clear value propositions by customer...

Question 17

A necessary first step in aligning the sales and marketing functions is
A) a sales review.
B) a competitive analysis.
C) clear role definition.
D) a market analysis.
E) goal setting.

Accepted Answer

Clear role definition is necessary for sales and marketing functions to work cohesively. Without understanding their respective responsibilities, these functions will overlap and cause confusion. The other options may be important steps in the alignment process, but clear role definition is the first necessary step.

Question 18

The section of the sales plan that contains information on key sales issues facing the business is called
A) opportunity analysis.
B) performance targets.
C) sales strategies.
D) sales plan implementation and control.
E) the executive summary.

Accepted Answer

The answer of The section of the sales plan that...

Question 19

The marketing and sales function should jointly
A) create the marketing plan.
B) conduct sales reviews.
C) develop sales plans.
D) perform market segmentation.
E) manage the brand.

Accepted Answer

The answer of The marketing and sales function should jointly
A)...

Question 20

To align the marketing and sales functions, the language of marketing has to be translated into
A) customer value propositions.
B) brand associations.
C) marketing communications tactics.
D) sales collateral materials.
E) the language of sales.

Accepted Answer

To align marketing and sales functions effectively, it's crucial that the language of marketing is translated into the language of sales. This ensures that both departments are aligned in their objectives, strategies, and understanding of the market and customer needs, facilitating better collaboration and efficiency.

Quiz 37: Delivering Customer Value

The section of the sales plan that identifies target customers by priority is called

By profiling a customer based on needs and willingness to pay, development of ___________ becomes straightforward.

Through market segmentation, GE discovered that the top 30% of prospective customers were three times more likely to do business with GE than the bottom 70%. This is an example of how GE was able to

The glue binding marketing and sales is

The section of the sales plan that contains market, customer, product, and competitor analysis is called

Announcing distinct but complementary roles of marketing and sales based on the understand-create-deliver-manage customer value framework was one of the steps that Arbol Industries took in the process of

Conducting reviews of segments, customers, and the product mix is an example of how the marketing function

By giving the sales force direction, we avoid any tension the salesperson may feel between serving the customer and

Providing feedback to other functions on what the sales function is observing in the marketplace regarding competitors, customers, and market trends is part of

Providing feedback on the market and customers to key decision makers is an example of how the sales function

Profiling a customer based on needs and willingness to pay provides the sales force with a clear understanding of

The section of the sales plan that spells out detailed tactical plans for each sales strategy is called

The key to translating marketing planning into sales action lies in

GE used data from past company transactions to organize customers by the type of equipment leased and by their likelihood of wanting to do business with GE. This is an example of

In a sales plan, value propositions by market segment and by customer are addressed in the

Development of clear value propositions by customer type enables the development of

A necessary first step in aligning the sales and marketing functions is

The section of the sales plan that contains information on key sales issues facing the business is called

The marketing and sales function should jointly

To align the marketing and sales functions, the language of marketing has to be translated into