Question 1

A stall tends to mean that the customer appreciates the benefits of a product but is unwilling to engage in negotiations.

Accepted Answer

A stall typically means that the customer is hesitant to make a decision or needs more information before making a purchase, it does not necessarily mean they are unwilling to negotiate.

Question 2

Which of the following is true with respect to negotiations in foreign cultures?

Accepted Answer

Different cultural expectations can cause difficulty communicating, leading to misunderstandings and failed negotiations. It's important to research and understand the cultural norms and etiquette of the foreign country before entering into negotiations to avoid any miscommunication.

Answer: D
 In German culture, maintaining eye contact during negotiations may be seen as aggressive or confrontational. It is important to understand these cultural nuances and adjust accordingly to build trust and establish a positive relationship.

Answer: E
 Negotiations in China may involve more indirect communication and less straightforwardness than negotiations in Japan. It's important to understand the cultural differences and adjust communication style accordingly to ensure successful negotiations.

Option B and C are incorrect as it is never advisable to become antagonistic during negotiations and business rituals vary significantly across cultures.

Question 3

Which of the following is most likely a true statement about price?

Accepted Answer

The highest quality can never be obtained at the lowest price.

Question 4

Karyn Fleishman is the lead sales representative on a team selling super-powered microscopes to research laboratories and other research institutions. She and her team just made a presentation to the buying team of a large lab, and they are about to enter the negotiation process to work toward closing a deal.
-During the negotiations,it became apparent that the buyer had not understood the delivery schedule correctly. This most likely made the situation:

Accepted Answer

If the buyer had misunderstood the delivery schedule, it is a better situation to clarify the details than to have to start the whole negotiating process again. This will allow the negotiations to continue without having to backtrack and can give the sales team an opportunity to clarify other details as well.

Question 5

In some cases the statement,"I don't need your product,"is a conditioned response.

Accepted Answer

A conditioned response is a learned behavior that occurs in response to a specific stimulus. In some cases, customers may have formed a conditioned response to a particular product or sales pitch, causing them to automatically respond with "I don't need your product," even if they may actually benefit from it.

Question 6

When people say,"Your price is too high,"they probably mean,"You haven't sold me yet."

Accepted Answer

When someone says that the price is too high, they might not see the value in the product or service being offered. It is up to the seller to demonstrate the worth and benefits of their offering to persuade the buyer that the price is fair. Therefore, the statement "Your price is too high" might indicate that the seller needs to try harder to convince the prospective customer.

Question 7

Customers who perceive added value are less likely to choose a competing product simply on the basis of price.

Accepted Answer

Customers are likely to be more loyal to a product that they perceive as providing added value, meaning they see benefits beyond just the price. These benefits may include high-quality materials, improved features, or excellent customer service. As a result, they may be less likely to switch to a competing product simply because it has a lower price point.

Question 8

If you are familiar with your product as well as your competition's product,which method of negotiating buyer resistance is best for overcoming buyer skepticism?

Accepted Answer

A demonstration allows you to show the product's features and benefits in action, directly addressing buyer skepticism by providing tangible proof of the product's value.

Question 9

The negotiation training stresses that sales representatives should avoid making price the focal point of the presentation. This requires the sales representatives to refocus on:

Accepted Answer

Positioning the product on quality instead of price helps to emphasize the value proposition of the product, rather than just its cost. This approach can help remove some of the pressure from negotiating solely on price and can also help the sales representative to differentiate their product from competitors who may be competing on price alone.

Question 10

List five common types of buyer concerns.

Accepted Answer

The answer of List five common types of buyer concerns....

Question 11

The negotiations are stalled until Karyn's team discovers that the buyers are concerned about the costs of training laboratory employees to use the new microscope. What response would most likely move the negotiations forward?

Accepted Answer

Offering discounted training from the firm's implementation team directly addresses the buyers' concerns about training costs, which is likely to move the negotiations forward. The other options either do not directly address the concern or may not provide a sufficient solution to the buyers' concerns.

Question 12

Direct denial may be appropriate when a customer's objection is based on misinformation.

Accepted Answer

Direct denial can be used when a customer's objection is based on misinformation because it allows the salesperson to correct the customer's misunderstanding and provide accurate information. However, it is important to use this technique carefully and respectfully to avoid damaging the customer relationship.

Question 13

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.
-Kelly often tells sellers that her budget will not allow her to pay the price they are asking. What is the most effective way a seller could counter that claim?

Accepted Answer

By offering to reduce the price through unbundling, the seller can potentially lower the overall cost while still providing the essential features that Kelly is looking for. This allows for a compromise that may be more beneficial to both parties than simply lowering the price.

Question 14

Which of the following would be an example of logrolling in this negotiation?

Accepted Answer

Logrolling refers to the practice of exchanging concessions in a negotiation. In this case, the sales team is offering the buyer an advantageous payment schedule, which could be seen as a concession or trade-off in exchange for something else from the buyer. Therefore, choice C is an example of logrolling, while the other options are not. Option A is simply offering a lower price, while option B involves creating a whole new proposal which may or may not involve concessions. Option D involves holding firm on the original price without any indication of willingness to compromise or make concessions. Option E involves pitting two sellers against each other, which is a form of competition or bidding rather than logrolling.

Question 15

The"feel-felt-found"method is used in conjunction with which of the following?

Accepted Answer

The "feel-felt-found" method is often used in sales and customer service as a way to handle objections indirectly. It involves empathizing with the customer's concern (feel), sharing that others have felt the same way (felt), and then explaining how they found a solution or were satisfied after trying the product or service (found), thus it's associated with indirect denial.

Question 16

When a customer raises a valid objection that cannot be answered with a denial,the salesperson should most likely take which of the following actions?

Accepted Answer

When faced with a valid objection that cannot be denied, the salesperson should focus on discussing the superior benefits of their product or service. This involves highlighting advantages that the customer may not have considered or been aware of, and demonstrating how they outweigh any perceived drawbacks or concerns. Engaging in back-pedaling, beginning a pricing approach, or restarting the presentation are not effective strategies for handling objections, while criticizing the competition can be off-putting and unprofessional.

Question 17

A salesperson for a software company offers to let a customer do a"pilot"of the software in two locations for three months at no cost. What is another name for a pilot?

Accepted Answer

A pilot is also commonly referred to as a trial offer, where a customer can test the software in their own environment for a limited period of time before committing to a purchase. Option A, C, D, and E are all sales techniques or strategies, but do not refer specifically to a pilot/trial offer.

Question 18

According to the text,you usually get what you deserve,no matter how you negotiate.

Accepted Answer

Negotiation skills can significantly influence the outcome, meaning individuals might not always get what they inherently deserve but rather what they successfully negotiate for.

Question 19

What is the most likely benefit of using indirect denial to handle a prospect's concerns?

Accepted Answer

Using indirect denial allows the salesperson to acknowledge and respect the prospect's concerns and opinions, rather than simply dismissing them outright. It can help build trust and rapport with the prospect, and may ultimately lead to a more positive outcome.

Question 20

As part of negotiation skills training,the sales representatives learn about handling customer objections. A common customer objection regards the quality of produce and meat. How should a sales representative most likely address this objection?

Accepted Answer

Emphasizing the firm's commitment to customer service after a sale directly addresses concerns about quality by assuring the customer of ongoing support and resolution of any issues that may arise.

Quiz 13: Negotiating Buyer Concerns