Question 1

In the area of sales promotions, the letters POP stand for priced-on-purchase.

Accepted Answer

A) True 
 B)False  False

Question 2

A salesperson selling ________ to ________ would most likely have the most extensive product knowledge.

Accepted Answer

A)  skis; consumers 
B)  jewelry; retailers 
C)  televisions; consumers 
D)  computers; small businesses 
E)  rocket components; engineers 
A)  skis; consumers 
B)  jewelry; retailers 
C)  televisions; consumers 
D)  computers; small businesses 
E)  rocket components; engineers E

Question 3

Markup is:

Accepted Answer

A)  the money available to cover only the costs of marketing the product. 
B)  based on the product's selling price. 
C)  based on the product's discount price. 
D)  often expressed as a fraction. 
E)  represented by net profit. 
A)  the money available to cover only the costs of marketing the product. 
B)  based on the product's selling price. 
C)  based on the product's discount price. 
D)  often expressed as a fraction. 
E)  represented by net profit. B

Question 4

The three major categories of premiums are contests and sweepstakes, consumer premiums, and dealer premiums.

Accepted Answer

A) True 
 B)False

Question 5

Companies do all of the following while advertising their products EXCEPT:

Accepted Answer

A)  increase intermediary cooperation. 
B)  educate potential customers about products. 
C)  reduce buyers' cognitive dissonance about a purchase. 
D)  develop leads for salespeople through mail-ins. 
E)  presell even before a salesperson's call. 
A)  increase intermediary cooperation. 
B)  educate potential customers about products. 
C)  reduce buyers' cognitive dissonance about a purchase. 
D)  develop leads for salespeople through mail-ins. 
E)  presell even before a salesperson's call.

Question 6

Customer Relationship Management (CRM), is a technology system that helps companies manage information about existing and potential customers.

Accepted Answer

A) True 
 B)False

Question 7

Which of the following is a one-time price reduction the manufacturer passes on to channel members or directly to customers?

Accepted Answer

A)  Cash discounts 
B)  Noncumulative quantity discounts 
C)  Cumulative quantity discounts 
D)  Consumer discounts 
E)  Trade discounts 
A)  Cash discounts 
B)  Noncumulative quantity discounts 
C)  Cumulative quantity discounts 
D)  Consumer discounts 
E)  Trade discounts

Question 8

Which of the following is appropriate when e-mailing customers?

Accepted Answer

A)  Do not be afraid to send bad news via e-mail. 
B)  Use flaming when appropriate in e-mails. 
C)  If you want to make sure that a message is understood, write it in all capital letters. 
D)  Use dates, salutations, and friendly closes in e-mails. 
E)  Send the same message several times to make sure that it reaches the intended receiver(s). 
A)  Do not be afraid to send bad news via e-mail. 
B)  Use flaming when appropriate in e-mails. 
C)  If you want to make sure that a message is understood, write it in all capital letters. 
D)  Use dates, salutations, and friendly closes in e-mails. 
E)  Send the same message several times to make sure that it reaches the intended receiver(s).

Question 9

The value or worth of a product that attracts the buyer to exchange money or something of value for the good or service is its:

Accepted Answer

A)  price. 
B)  gross profit. 
C)  contribution margin. 
D)  markup. 
E)  net profit. 
A)  price. 
B)  gross profit. 
C)  contribution margin. 
D)  markup. 
E)  net profit.

Question 10

A premium is an article of merchandise offered as an incentive to the user to sample a product or visit a store.

Accepted Answer

A) True 
 B)False

Question 11

Which information is the LEAST important for a salesperson to know about a channel member that sells the same products as the salesperson's employer?

Accepted Answer

A)  The channel member's distribution policies 
B)  Product lines and assortments carried 
C)  The channel members' pricing policies 
D)  Past purchases of the salesperson's product 
E)  Details on inventory, storage, and distribution 
A)  The channel member's distribution policies 
B)  Product lines and assortments carried 
C)  The channel members' pricing policies 
D)  Past purchases of the salesperson's product 
E)  Details on inventory, storage, and distribution

Question 12

Sales training is the effort put forth by an employer to provide the opportunity for the salesperson to receive job-related skills and knowledge that improve sales success.

Accepted Answer

A) True 
 B)False

Question 13

Which of the following is most likely an example of a consumer sales promotion?

Accepted Answer

A)  Free merchandise 
B)  Trade advertisements 
C)  Sales contests 
D)  Retail coupons 
E)  Shelf facings 
A)  Free merchandise 
B)  Trade advertisements 
C)  Sales contests 
D)  Retail coupons 
E)  Shelf facings

Question 14

Proctor & Gamble wants to reach all users of the firm's products, both industrial buyers and consumers. The firm would most likely use ________ advertising because it has the greatest reach.

Accepted Answer

A)  trade 
B)  national 
C)  relationship 
D)  retail 
E)  corporate 
A)  trade 
B)  national 
C)  relationship 
D)  retail 
E)  corporate

Question 15

Salespeople need to have knowledge for all of the following EXCEPT:

Accepted Answer

A)  increasing the individual salesperson's self-confidence. 
B)  meeting buyer's expectations 
C)  building relationships with their customers. 
D)  building the buyer's confidence in the individual salesperson. 
E)  increasing cognitive dissonance among customers. 
A)  increasing the individual salesperson's self-confidence. 
B)  meeting buyer's expectations 
C)  building relationships with their customers. 
D)  building the buyer's confidence in the individual salesperson. 
E)  increasing cognitive dissonance among customers.

Question 16

Identify the correct statement about sales training.

Accepted Answer

A)  Knowledge of selling is primarily developed through experience. 
B)  Most salespeople only go through about two weeks of sales training during their entire selling career. 
C)  Sales knowledge gained from sales training typically does not benefit the salesperson. 
D)  The only reason companies engage in sales training is to abide by federal government laws that require equity in positioning. 
E)  A salesperson has to undergo sales training only at the beginning of a sales career. 
A)  Knowledge of selling is primarily developed through experience. 
B)  Most salespeople only go through about two weeks of sales training during their entire selling career. 
C)  Sales knowledge gained from sales training typically does not benefit the salesperson. 
D)  The only reason companies engage in sales training is to abide by federal government laws that require equity in positioning. 
E)  A salesperson has to undergo sales training only at the beginning of a sales career.

Question 17

A veterinarian ran a local newspaper advertisement announcing it was the exclusive distributor of Hill brand gourmet pet food. The Hill salesperson reimbursed the veterinarian for the media cost. This is an example of ________ advertising.

Accepted Answer

A)  industrial 
B)  national 
C)  trade 
D)  dual 
E)  co-op 
A)  industrial 
B)  national 
C)  trade 
D)  dual 
E)  co-op

Question 18

It costs a company $6 to manufacture a product. It sells the product for $10 to a wholesaler who in turn sells it to a retailer for $12. A customer of the retailer buys it for $24. What was the markup on selling price for each member of this product's channel of distribution?

Accepted Answer

A)  Manufacturer's markup = 40 percent; wholesaler's markup = 16.67 percent; retailer's markup = 50 percent 
B)  Manufacturer's markup = 48 percent; wholesaler's markup = 18 percent; retailer's markup = 45 percent 
C)  Manufacturer's markup = 60 percent; wholesaler's markup = 20 percent; retailer's markup = 100 percent 
D)  Manufacturer's markup = 66.67 percent; wholesaler's markup = 20 percent; retailer's markup = 100 percent 
E)  Manufacturer's markup = 60 percent; wholesaler's markup = 23 percent; retailer's markup = 40 percent 
A)  Manufacturer's markup = 40 percent; wholesaler's markup = 16.67 percent; retailer's markup = 50 percent 
B)  Manufacturer's markup = 48 percent; wholesaler's markup = 18 percent; retailer's markup = 45 percent 
C)  Manufacturer's markup = 60 percent; wholesaler's markup = 20 percent; retailer's markup = 100 percent 
D)  Manufacturer's markup = 66.67 percent; wholesaler's markup = 20 percent; retailer's markup = 100 percent 
E)  Manufacturer's markup = 60 percent; wholesaler's markup = 23 percent; retailer's markup = 40 percent

Question 19

Assume a product costs $3 and a retailer sells it for $6. What is the percentage markup on selling price and cost?

Accepted Answer

A)  Markup on selling price = 33%; Markup on cost = 50% 
B)  Markup on selling price = 40%; Markup on cost = 66.6% 
C)  Markup on selling price = 50%; Markup on cost = 100% 
D)  Markup on selling price = 100%; Markup on cost = 100% 
E)  Markup on selling price = 120%; Markup on cost = 150% 
A)  Markup on selling price = 33%; Markup on cost = 50% 
B)  Markup on selling price = 40%; Markup on cost = 66.6% 
C)  Markup on selling price = 50%; Markup on cost = 100% 
D)  Markup on selling price = 100%; Markup on cost = 100% 
E)  Markup on selling price = 120%; Markup on cost = 150%

Question 20

The only time a salesperson should use a speakerphone in an office setting is when he or she is:

Accepted Answer

A)  inputting data into a laptop computer. 
B)  participating in a conference call. 
C)  part of a regional sales team. 
D)  talking to someone in an office. 
E)  getting ready to leave an office. 
A)  inputting data into a laptop computer. 
B)  participating in a conference call. 
C)  part of a regional sales team. 
D)  talking to someone in an office. 
E)  getting ready to leave an office.

In the area of sales promotions, the letters POP stand for priced-on-purchase.

A salesperson selling to would most likely have the most extensive product knowledge.

Markup is:

The three major categories of premiums are contests and sweepstakes, consumer premiums, and dealer premiums.

Companies do all of the following while advertising their products EXCEPT:

Customer Relationship Management (CRM), is a technology system that helps companies manage information about existing and potential customers.

Which of the following is a one-time price reduction the manufacturer passes on to channel members or directly to customers?

Which of the following is appropriate when e-mailing customers?

The value or worth of a product that attracts the buyer to exchange money or something of value for the good or service is its:

A premium is an article of merchandise offered as an incentive to the user to sample a product or visit a store.

Which information is the LEAST important for a salesperson to know about a channel member that sells the same products as the salesperson's employer?

Sales training is the effort put forth by an employer to provide the opportunity for the salesperson to receive job-related skills and knowledge that improve sales success.

Which of the following is most likely an example of a consumer sales promotion?

Proctor & Gamble wants to reach all users of the firm's products, both industrial buyers and consumers. The firm would most likely use ________ advertising because it has the greatest reach.

Salespeople need to have knowledge for all of the following EXCEPT:

Identify the correct statement about sales training.

A veterinarian ran a local newspaper advertisement announcing it was the exclusive distributor of Hill brand gourmet pet food. The Hill salesperson reimbursed the veterinarian for the media cost. This is an example of ________ advertising.

It costs a company $6 to manufacture a product. It sells the product for $10 to a wholesaler who in turn sells it to a retailer for $12. A customer of the retailer buys it for $24. What was the markup on selling price for each member of this product's channel of distribution?

Assume a product costs $3 and a retailer sells it for $6. What is the percentage markup on selling price and cost?

The only time a salesperson should use a speakerphone in an office setting is when he or she is:

The Life, Times, and Career of the Professional Salesperson

Ethics First -Then Customer Relationships

The Psychology of Selling: Why People Buy

Communication for Relationship Building: Its Not All Talk

Prospectingthe Lifeblood of Selling

Planning the Sales Call Is a Must

Carefully Select Which Sales Presentation Method to Use

Begin Your Presentation Strategically

Elements of a Great Sales Presentation

Welcome Your Prospects Objections

Closing Begins the Relationship

Service and Follow-Up for Customer Retention

Time, Territory, and Self-Management: Keys to Success

Filters

Exam 5: Sales Knowledge: Customers, Products, Technologies

In the area of sales promotions, the letters POP stand for priced-on-purchase.

A salesperson selling ________ to ________ would most likely have the most extensive product knowledge.

Markup is:

The three major categories of premiums are contests and sweepstakes, consumer premiums, and dealer premiums.

Companies do all of the following while advertising their products EXCEPT:

Customer Relationship Management (CRM), is a technology system that helps companies manage information about existing and potential customers.

Which of the following is a one-time price reduction the manufacturer passes on to channel members or directly to customers?

Which of the following is appropriate when e-mailing customers?

The value or worth of a product that attracts the buyer to exchange money or something of value for the good or service is its:

A premium is an article of merchandise offered as an incentive to the user to sample a product or visit a store.

Which information is the LEAST important for a salesperson to know about a channel member that sells the same products as the salesperson's employer?

Sales training is the effort put forth by an employer to provide the opportunity for the salesperson to receive job-related skills and knowledge that improve sales success.

Which of the following is most likely an example of a consumer sales promotion?

Proctor & Gamble wants to reach all users of the firm's products, both industrial buyers and consumers. The firm would most likely use ________ advertising because it has the greatest reach.

Salespeople need to have knowledge for all of the following EXCEPT:

Identify the correct statement about sales training.

A veterinarian ran a local newspaper advertisement announcing it was the exclusive distributor of Hill brand gourmet pet food. The Hill salesperson reimbursed the veterinarian for the media cost. This is an example of ________ advertising.

It costs a company $6 to manufacture a product. It sells the product for $10 to a wholesaler who in turn sells it to a retailer for $12. A customer of the retailer buys it for $24. What was the markup on selling price for each member of this product's channel of distribution?

Assume a product costs $3 and a retailer sells it for $6. What is the percentage markup on selling price and cost?

The only time a salesperson should use a speakerphone in an office setting is when he or she is:

The Life, Times, and Career of the Professional Salesperson

Ethics First -Then Customer Relationships

The Psychology of Selling: Why People Buy

Communication for Relationship Building: Its Not All Talk

Prospectingthe Lifeblood of Selling

Planning the Sales Call Is a Must

Carefully Select Which Sales Presentation Method to Use

Begin Your Presentation Strategically

Elements of a Great Sales Presentation

Welcome Your Prospects Objections

Closing Begins the Relationship

Service and Follow-Up for Customer Retention

Time, Territory, and Self-Management: Keys to Success

Filters

A salesperson selling to would most likely have the most extensive product knowledge.