Question 1

In the FABV approach, ________ describe the economic, technical, service, and social pluses delivered.
A) features
B) advantages
C) benefits
D) value
E) macroenvironment

Accepted Answer

The FABV approach focuses on delivering benefits to customers, hence the acronym stands for Features, Advantages, Benefits, and Value. While features and advantages can also contribute to the overall value proposition, it is the benefits that directly describe the positive outcomes or experiences that customers receive.

Question 2

Which of the following questions is LEAST relevant during the preapproach stage of the sales process?
A) How is the purchasing process conducted at the company?
B) How is the purchasing department structured?
C) How can I overcome psychological resistance?
D) Is purchasing centralized?
E) What is the best contact approach?

Accepted Answer

Overcoming psychological resistance is more relevant during the approach or presentation stage of the sales process, rather than the preapproach stage. The preapproach stage focuses on gathering information about the prospect and the company to prepare for the approach. A, B, D, and E are all relevant questions during this stage as they help the salesperson understand the prospect's organizational structure, decision-making process, and best approach for initiating contact.

Question 3

Representatives who are taught the SPIN method to build long-term relationships may ask each of the following types of questions EXCEPT ________.
A) situation
B) speculation
C) problem
D) need-payoff
E) implication

Accepted Answer

All of the other types of questions (Situation, Problem, Need-Payoff, Implication) are part of the SPIN method, but Speculation is not.

Question 4

In IBM's BANT acronym, A stands for ________.
A) action
B) authority
C) activate
D) austerity
E) autonomy

Accepted Answer

In IBM's BANT acronym, A stands for authority. BANT stands for Budget, Authority, Need, and Timeline, which are the four key factors used in sales qualification.

Question 5

If Jose is describing chip processing speeds and memory capacity, he is describing the ________ of his firm's offering in the FABV approach.
A) features
B) advantages
C) benefits
D) value
E) macroenvironment

Accepted Answer

Features in the FABV (Features, Advantages, Benefits, Value) approach specifically refer to the characteristics of a product, such as chip processing speeds and memory capacity.

Question 6

In IBM's BANT acronym, N stands for ________.
A) noticeable
B) necessary
C) need
D) necessity
E) notify

Accepted Answer

In IBM's BANT acronym, N stands for "need". BANT refers to Budget, Authority, Need, and Timeline, which are the four key factors that salespeople consider when evaluating a potential customer's likelihood of making a purchase.

Question 7

In the FABV approach, if the salesperson is discussing the monetary terms associated with the offering, s/he is talking about ________.
A) features
B) advantages
C) benefits
D) value
E) macroenvironment

Accepted Answer

Monetary terms associated with the offering fall under the "value" component in the FABV approach, as it is related to the cost of the offering and the perceived worth to the customer. Features are the characteristics of the offering, advantages are how those features add value, and benefits are the positive outcomes for the customer. The macroenvironment refers to the external factors that may impact the offering, but is not relevant to this specific question.

Question 8

Which company uses 150 different signals - including dozens of online data feeds - to rate customer leads?
A) IBM
B) Avon
C) SAS
D) FABV
E) Infer

Accepted Answer

Infer uses 150 different signals, including dozens of online data feeds, to rate customer leads.

Question 9

In IBM's BANT acronym, B stands for ________.
A) budget
B) background
C) baseline
D) benchmark
E) basic

Accepted Answer

In IBM's BANT acronym, B stands for budget, which refers to the financial resources that a customer has available to spend on a product or service.

Question 10

When Saul asks his client, "What system are you using to invoice your customers?" he is asking a ________ question.
A) situation
B) speculation
C) problem
D) need-payoff
E) implication

Accepted Answer

Saul's question is aimed at understanding the current state or context of his client's invoicing process, which makes it a situation question. Situation questions are designed to gather facts and background information.

Question 11

IBM uses the BANT acronym during which stage of the sales process?
A) prospecting and qualifying
B) sales preapproach
C) sales presentation
D) unearthing objections
E) demonstrating advantages

Accepted Answer

BANT stands for Budget, Authority, Need, and Timeline. It is a framework used during the prospecting and qualifying stage of the sales process to evaluate whether a potential prospect is a good fit for the product or service being offered.

Question 12

Sales representatives who are paid mostly in commissions require more supervision than other salespeople.

Accepted Answer

Sales representatives paid mostly in commissions are often highly motivated to perform well to earn more, potentially requiring less supervision as they are incentivized to maximize their sales without constant oversight.

Question 13

An employee who provides clerical backup for outside salespersons, runs credit checks, follows up on deliveries, and answers customers' business-related questions is called a sales assistant.

Accepted Answer

This is a correct definition of a sales assistant.

Question 14

In which of the following stages of personal selling does a salesperson tell the product story to the buyer?
A) preapproach
B) prospecting
C) presentation
D) closing
E) objection handling

Accepted Answer

The presentation stage of personal selling involves telling the product story to the buyer, where the salesperson presents the features, advantages, and benefits of the product or service to the potential customer.

Question 15

If a prospective client does not want to buy from you because he has a preference for an established supply source, you are facing an objection due to ________.
A) psychological resistance
B) logical resistance
C) price sensitivity
D) relationship inertia
E) reactance

Accepted Answer

The answer of If a prospective client does not want...

Question 16

In IBM's BANT acronym, T stands for ________.
A) touch
B) tempt
C) team
D) timeline
E) turn over

Accepted Answer

T in IBM's BANT acronym stands for timeline, meaning the potential customer's expected timeline for making a purchase or decision.

Question 17

When Shen asks his client, "How much would you save if our company could help you reduce errors by 80 percent?" he is asking a ________ question.
A) situation
B) speculation
C) problem
D) need-payoff
E) implication

Accepted Answer

Shen is asking a need-payoff question, as he is trying to determine how reducing errors would benefit his client. He is asking for the client's perceived value of the potential solution.

Question 18

If a prospective client does not want to buy from you because she feels the price is too high, you are facing an objection due to ________.
A) psychological resistance
B) logical resistance
C) apathy
D) relationship inertia
E) reactance

Accepted Answer

The objection is based on the logical premise of the price being too high, and can potentially be addressed with logical solutions such as demonstrating the value of the product or offering a lower price point with a compromise on certain features. Psychological resistance may involve emotions or biases not related to the logical price point, while apathy, relationship inertia, and reactance are not directly related to the issue of price.

Question 19

________ includes objections due to proposed contract completion time, quality of goods and services offered, purchase volume, product safety, and responsibility for financing, risk taking, promotion, and title.
A) Psychological resistance
B) Logical resistance
C) Price sensitivity
D) Relationship inertia
E) Reactance

Accepted Answer

The objections listed in the question stem are all logical in nature, based on factors such as contract completion time, quality, volume and safety. Logical resistance refers to objections that arise from a careful evaluation of the facts and logic behind a proposal.

Question 20

________ includes resistance to interference and a neurotic attitude toward money.
A) Psychological resistance
B) Logical resistance
C) Price sensitivity
D) Relationship inertia
E) Reactance

Accepted Answer

The two characteristics mentioned in the statement - resistance to interference and a neurotic attitude toward money - are indicators of psychological resistance.

Quiz 22: Managing Personal Communications: Direct and Database Marketing and Personal Selling

In the FABV approach, ________ describe the economic, technical, service, and social pluses delivered.

Which of the following questions is LEAST relevant during the preapproach stage of the sales process?

Representatives who are taught the SPIN method to build long-term relationships may ask each of the following types of questions EXCEPT ________.

In IBM's BANT acronym, A stands for ________.

If Jose is describing chip processing speeds and memory capacity, he is describing the ________ of his firm's offering in the FABV approach.

In IBM's BANT acronym, N stands for ________.

In the FABV approach, if the salesperson is discussing the monetary terms associated with the offering, s/he is talking about ________.

Which company uses 150 different signals - including dozens of online data feeds - to rate customer leads?

In IBM's BANT acronym, B stands for ________.

When Saul asks his client, "What system are you using to invoice your customers?" he is asking a ________ question.

IBM uses the BANT acronym during which stage of the sales process?

Sales representatives who are paid mostly in commissions require more supervision than other salespeople.

An employee who provides clerical backup for outside salespersons, runs credit checks, follows up on deliveries, and answers customers' business-related questions is called a sales assistant.

In which of the following stages of personal selling does a salesperson tell the product story to the buyer?

If a prospective client does not want to buy from you because he has a preference for an established supply source, you are facing an objection due to ________.

In IBM's BANT acronym, T stands for ________.

When Shen asks his client, "How much would you save if our company could help you reduce errors by 80 percent?" he is asking a ________ question.

If a prospective client does not want to buy from you because she feels the price is too high, you are facing an objection due to ________.

________ includes objections due to proposed contract completion time, quality of goods and services offered, purchase volume, product safety, and responsibility for financing, risk taking, promotion, and title.

________ includes resistance to interference and a neurotic attitude toward money.