Question 1

A buyer's resistance to a salesperson's product is usually caused by:

Accepted Answer

If another product satisfies the buyer's needs, then they will naturally resist the salesperson's product. This indicates that the salesperson may need to do a better job of identifying the buyer's specific needs and matching them with the features and benefits of their product.

Question 2

Traditional selling principles stressed that the"we versus they"and the"win-win"were similar concepts for negotiating sales resistance.

Accepted Answer

Traditional selling principles often emphasized a "we versus they" mentality, suggesting a competitive approach between the seller and buyer, whereas the "win-win" concept, which emerged later, focuses on creating mutually beneficial outcomes for both parties, indicating a collaborative approach rather than a confrontational one.

Question 3

In negotiations,the walk-away point that represents the lowest offer a party would be willing to accept is known as the ________.

Accepted Answer

The reservation value is the lowest acceptable offer or the point below which a party will walk away from negotiations. The best alternative (B) is the course of action that a party will take if the negotiation fails. The peak price point (C) is the highest price a seller can charge for a product or service. Price objection (D) is an objection raised by a buyer on the quoted price. The zone of possible agreement (E) is the range in which a final agreement can be reached through negotiation.

Question 4

The ________(BATN
A)is defined as"what alternative(s)will be acceptable to you if your negotiation does not succeed."

Accepted Answer

The answer of The ________(BATN
A)is defined as"what alternative(s)will be acceptable...

Question 5

Which of the following best describes a misunderstanding?

Accepted Answer

A misunderstanding occurs when one or both parties fail to accurately understand the other person's point, leading to confusion or misinterpretation.

Question 6

One of the most common buyer concerns in the field of selling is:

Accepted Answer

Resistance to price is a common buyer concern as customers always seek products at the lowest possible prices. They may feel that the offered price is too high or that they can find a similar product from another vendor at a lower rate. Overcoming price resistance is one of the biggest challenges faced by salespeople.

Question 7

What area of the sales process are the sales representatives weak in,according to the results of the sales director's analysis?

Accepted Answer

According to the analysis, the sales representatives are weak in negotiation skills.

Question 8

The foundation for win-win negotiations is a relationship with the customer built on trust and rapport.

Accepted Answer

Building trust and rapport with the customer is crucial for win-win negotiations, where both parties benefit from the outcome of the negotiation. Without a foundation of trust, negotiations may become adversarial, and the outcome may not be satisfactory for both parties.

Question 9

Working to reach an agreement that is mutually satisfactory to both buyer and seller is also called:

Accepted Answer

Negotiation is the process of working together to come to an agreement that benefits both parties. It involves discussing and compromising on different aspects of the transaction until a mutually satisfactory outcome is reached. Options B, C, D, and E do not capture the essence of this process as accurately as option A.

Question 10

When a customer says,"I would rather not tie up my money in a large order,"the resistance most likely falls into which category?

Accepted Answer

The resistance of not wanting to tie up money in a large order is related to price. The customer may not want to commit a large sum of money upfront and may be looking for more flexible payment options.

Question 11

Determining your BATNA and ZOPA will help you in negotiations because:

Accepted Answer

Determining your BATNA (Best Alternative To a Negotiated Agreement) and ZOPA (Zone of Possible Agreement) helps you understand your bottom line in a negotiation and what options you have if negotiations fail. Knowing your BATNA and ZOPA allows you to determine the minimum acceptable outcome and the potential for agreement, so you can make informed decisions about whether to accept a deal or walk away from it. This knowledge gives you a clear understanding of what you are willing to accept and what you are not, which helps you negotiate from a position of strength.

Question 12

A salesperson who goes into a negotiation process without any preparation is likely either to lose the sale or to:

Accepted Answer

Negotiation requires preparation and understanding of both parties' needs and interests. Without preparation, a salesperson is likely to succumb to pressure and make concessions too quickly, resulting in a less favorable outcome for their company.

Question 13

When a prospect has voiced an objection,it is most likely best for the salesperson to:

Accepted Answer

When a prospect raises an objection, the best approach is to clarify the true nature of the problem. This involves asking questions to understand the objection fully and then providing information or solutions that address the objection directly. By doing this, the salesperson can demonstrate that they understand the prospect's concerns and are committed to finding a solution that meets their needs.

Question 14

Logrolling refers to:

Accepted Answer

Logrolling in negotiation involves offering an alternative solution where each party makes concessions on less important issues to gain on the issues that matter most to them.

Question 15

Negotiation is defined as"working to reach an agreement that is satisfactory to either the buyer or the seller."

Accepted Answer

Negotiation is defined as working to reach an agreement that is satisfactory to both parties, not just one side (either the buyer or the seller).

Question 16

Which of the following is an acceptable way to cope with the loyalty objection?

Accepted Answer

Working on recruiting internal champions is an acceptable way to cope with the loyalty objection as it can help build more support for your message within the organization without directly challenging the loyalty of the prospect. This approach focuses on creating advocates rather than undermining the current supplier or pointing out weak points of the competing product.

Question 17

The sales director could most likely help the sales representatives to understand the firm's financial objectives by clarifying:

Accepted Answer

Reservation values represent the minimum price a company is willing to accept for a product or service, and understanding this value can help sales representatives align their goals with the firm's financial objectives. Cold calling methods, trial close techniques, logrolling rules, and unbundling tools do not relate directly to the firm's financial objectives.

Question 18

If a customer tells a sales representative from Johnson Supply,"I've always purchased my supplies from the Ralston Company,"this person is most likely raising an objection to:

Accepted Answer

The customer is indicating they have a preferred source for their supplies, meaning they are raising an objection to the source of the product rather than any other factor such as price or need.

Question 19

The best way to overcome a sincere need objection by a business prospect is to:

Accepted Answer

By proving that the product will improve the prospect's profits, the objection of sincere need can be overcome. This reassures the prospect that the product is worth investing in, as it will ultimately benefit their business.

Question 20

Kelly Addison is a designer clothing buyer for a chain of department stores. She has gone through several negotiation certification programs and is considered an expert negotiator by her peers.

-Because Kelly is a tough negotiator,salespeople must be aware of how much flexibility they have in terms of price,specifications,and delivery schedules. Which of the following best helps a salesperson with determining the walk-away point when dealing with Kelly?

Accepted Answer

ZOPA (Zone of Possible Agreement) is a negotiation term that refers to the range of options between the minimum point that a seller is willing to accept and the maximum point that a buyer is willing to pay. Understanding the ZOPA helps a salesperson determine their walk-away point when negotiating with a tough negotiator like Kelly Addison.

Quiz 13: Negotiating Buyer Concerns