Deck 8: Gaining New Business

Question 1

A _______ contains names of key contacts,their direct mail and e-mail addresses,corporate locations,and Web-site information,plus limited descriptive information on each competitor in the defined market.

A)customer relationship management (CRM)system
B)customer database
C)market database
D)prospecting plan

Answer 1

C

Question 2

_______ entails the related activities of internally generating leads from databases,prompting and gathering inquiries externally from the marketplace,and qualifying leads and inquiries as significant prospects.

A)Leads
B)Inquiries
C)Prospects
D)Prospecting

Answer 2

D

Question 3

To _______ a lead or inquiry,the supplier (or contracted third parties)contacts the potential customer via direct mail,fax,e-mail,or telephone and asks a series of preliminary questions to confirm that the firm has significant sales and profit opportunity

A)qualify
B)yield
C)mine
D)prospect

Answer 3

A

Question 4

_______ describes the cognitive,affective,and behavioral stages that a customer goes through during the purchasing process.

A)Integrated marketing communications (IMC)
B)Response hierarchy models
C)Market database
D)Prospecting plan

Question 5

A _______ is the set of tools and processes a firm uses to identify,attract,and retain customers and to leverage its relationships with customers.

A)customer relationship management (CRM)system
B)customer database
C)market database
D)prospecting plan

Question 6

Recognizing the variation in selling situations,sales professionals practice _______ in which they modify the sales approach,alter their communication style,modify message content,and change their call strategy.

A)adaptive selling
B)transactional selling
C)consultative selling
D)enterprise selling

Question 7

_______,on the other hand,are customer initiated business contacts with the supplier firm.

A)Leads
B)Inquiries
C)Prospects
D)Prospecting

Question 8

To improve the _______ from prospecting,suppliers must gain the commitment and support of the sales force.To do so,business market managers must create programs and systems for the sales force that deliver four critical elements: knowledge,motivation,experience,and sales support

A)qualify
B)yield
C)data mining
D)prospect

Question 9

_______ is a concept of marketing communications planning that recognizes the added value of a comprehensive plan.It evaluates the strategic role of a variety of communications disciplines and combines these disciplines to provide clarity,consistency,and maximum communications impact through the seamless integration of discrete messages.

A)Integrated marketing communications (IMC)
B)Response hierarchy models
C)Market database
D)Prospecting plan

Question 10

As a consultant,the salesperson asks a series of focused SPIN questions during calls.Through these questions,the rep helps the customer manager uncover _______ questions to gather general background information about the customer firm.

A)implied
B)explicit
C)situation
D)problem

Question 11

_______ is the application of disciplined tactics that predict customer behavior at the micromarket level and that optimize product availability and price to maximize revenue growth.It is applicable to market offerings that include perishable products and opportunities,and markets featuring seasonal or periodic demand.

A)Revenue management
B)IMC planning
C)Situation analysis
D)Value cycle

Question 12

The process of generating leads from databases entails first developing a profile of key descriptors of targeted firms or managers,and then using a variety of statistical programs to search databases for names that match the profile.

Question 13

_______ is (are)leads and inquiries that the supplier firm has qualified as having significant sales and profit potential.

A)Leads
B)Inquiries
C)Prospects
D)Prospecting

Question 14

As a consultant,the salesperson asks a series of focused SPIN questions during calls.Through these questions,the rep helps the customer manager uncover _______ requirements,which are vaguely defined areas of discontent,dissatisfaction,and discomfort with current operations,

A)implied
B)explicit
C)situation
D)problem

Question 15

The process of _______ focuses on gaining an order as quickly as possible.In fact,advocates urge salespeople to structure the entire sales call as a prelude to closing or "asking for the order."

A)adaptive selling
B)transactional selling
C)consultative selling
D)enterprise selling

Question 16

_______ are names of possible clients that business market managers generate from computer databases.

A)Leads
B)Inquiries
C)Prospects
D)Prospecting

Question 17

With _______,the sales representative becomes a long-term,trusted,and value-adding resource for a customer firm by gaining an in-depth understanding of its operations and by contributing analytical expertise to resolve pressing problems.

A)adaptive selling
B)transactional selling
C)consultative selling
D)enterprise selling

Question 18

A _______ is the supplier firm's repository for all relevant information about past and present customers.For each customer,it should contain transaction prices and profits from past orders,costs to serve,an estimate of the supplier's share of the customer's business,a forecast of potential sales,important customer firm characteristics,the names of buying team members and their roles in purchase decisions,previous account call reports,product or service applications,and relevant buying practices,policies,and patterns.(p.338; Use of IT)

A)customer relationship management (CRM)system
B)customer database
C)market database
D)prospecting plan

Question 19

________ elaborates the benefits of combining and sharing complementary competences and capabilities across firms.The offering is a partnership and not just products and services.

A)Adaptive selling
B)Transactional selling
C)Consultative selling
D)Enterprise selling

Question 20

As a consultant,the salesperson asks a series of focused SPIN questions during calls.Through these questions,the rep helps the customer manager uncover _______ requirements,which are precise specifications of products and augmenting services that resolve the customer's problems.

A)implied
B)explicit
C)situation
D)problem

Question 21

The Diffusion-Adoption Model proposes five stages: awareness,interest,evaluation,trial,and adoption.This model is an example of a response hierarchy model

Question 22

Prospecting is often called the art of creating,extracting,and delivering customer value and communicating the value created in a timely manner.

Question 23

Armed with knowledge of an offering's requirements cycle,the business market manager can tactically adjust its price as a function of time from introduction in order to maximize profits.

Question 24

To qualify a lead or inquiry,the supplier contacts the potential customer via direct mail,fax,e-mail,or telephone and asks a series of preliminary questions to confirm that the firm has significant sales and profit opportunity