Question 1

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." This refers to the prospect's requirement or desire for the product or service being offered.

Question 2

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

The SPIN method stands for Situation, Problem, Implication, and Need-Payoff. Therefore, the type of question not included in the SPIN method is speculation.

Question 3

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 4

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. This framework is primarily used during the prospecting and qualifying stage of the sales process to identify potential customers who have the ability to buy and a genuine need for the product or service being offered.

Question 5

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

Accepted Answer

In IBM's BANT acronym, T stands for "timeline," which refers to the timeframe in which the prospect plans to make a purchase or decision. Understanding their timeline is crucial for sales and marketing teams to properly target and nurture leads.

Question 6

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 7

________ 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

Logical resistance includes objections based on rational concerns such as time, quality, volume, safety, financing, risk, promotion, and title. The other options listed (psychological resistance, price sensitivity, relationship inertia, reactance) do not directly relate to logical concerns about the proposed contract.

Question 8

________ 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 term "psychological resistance" specifically refers to a customer's mentality or mindset when it comes to making purchases. Resistance to interference and a neurotic attitude toward money are both examples of psychological factors that can influence a customer's behavior. Option B, "logical resistance," does not accurately describe these factors, and options C, D, and E are unrelated to the concept of psychological resistance.

Question 9

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, which focuses on connecting the solution to the client's needs or desires. By asking how much the client would save with an 80 percent error reduction, Shen is highlighting the potential benefits of his company's services and encouraging the client to see the value in working with them.

Question 10

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 refer to the physical or technical characteristics of a product or service. In this case, Jose is describing the chip processing speeds and memory capacity, which are features of the firm's offering.

Question 11

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 refer to the value associated with the offering, which is the final component of the FABV approach. Features refer to the characteristics of the product or service, advantages refer to how the features will benefit the customer, and benefits refer to the outcomes or results of using the offering. The macroenvironment refers to external factors that impact the market and cannot be controlled by the salesperson.

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

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

Logical resistance is when the prospect feels that the price is not justified by the value of the product or service. It is a rational objection that can be addressed through features and benefits of the offering. The other options, psychological resistance, apathy, relationship inertia, and reactance are not directly related to the price objection. Psychological resistance relates to emotional factors such as fear, distrust, or anxiety. Apathy is when the prospect is not interested in the offering. Relationship inertia is when the prospect is loyal to an existing supplier. Reactance is when the prospect feels that their freedom of choice is being limited.

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 is where the salesperson tells the product story to the buyer, highlighting its features and benefits. This is where the salesperson has the opportunity to demonstrate how their product or service can solve the buyer's problem or meet their needs.

Question 15

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 a question that is more relevant during the approach or presentation stage of the sales process. During the preapproach stage, the focus should be on gathering information about the prospect and their organization. Questions A, B, D, and E are all relevant in understanding the prospect's organization and how to effectively approach them.

Question 16

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

A sales assistant provides administrative support to outside salespersons and assists with tasks such as credit checks, order follow-up, and customer inquiries.

Question 17

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 is the company that uses 150 different signals, including dozens of online data feeds, to rate customer leads.

Question 18

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, which encompass the economic, technical, service, and social advantages provided by a product or service. Features and advantages may be part of the overall benefits, but they do not fully encapsulate the value proposition. The macroenvironment refers to the external factors that may impact the business, but it is not directly related to the benefits delivered by the product or service.

Question 19

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 the potential customer is willing to allocate towards the purchase of a product or service.

Question 20

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. The BANT acronym is often used in sales and stands for Budget, Authority, Need, and Timeline.

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

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

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

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?

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

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 ________.

________ 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.

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

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

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

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 ________.

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

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

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.

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

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

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

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