Question 1

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

Accepted Answer

A) True 
 B)False

Question 2

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

Accepted Answer

A)  the salesperson failing to negotiate well 
B)  another product satisfying the buyer's needs 
C)  friends and acquaintances recommending the product 
D)  the product's advanced stage in the product life cycle 
E)  the product's price being equal to the buyer's current product 
A)  the salesperson failing to negotiate well 
B)  another product satisfying the buyer's needs 
C)  friends and acquaintances recommending the product 
D)  the product's advanced stage in the product life cycle 
E)  the product's price being equal to the buyer's current product

Question 3

An agreement to keep the same price but reduce prices in the future is often a successful response to which of the following tactics used by buyers?

Accepted Answer

A)  budget limitation tactic 
B)  take-it-or-leave-it tactic 
C)  let-us-split-the-difference tactic 
D)  "if...then" tactic 
E)  "sell low now, make profits later" tactic 
A)  budget limitation tactic 
B)  take-it-or-leave-it tactic 
C)  let-us-split-the-difference tactic 
D)  "if...then" tactic 
E)  "sell low now, make profits later" tactic

Question 4

Professional buyers often learn to use specific tactics in dealing with salespeople.List three tactics that were identified in Homer Smith's book,Selling Through Negotiation.

Accepted Answer

1.Budget limitation

Question 5

Which tactic would most likely be used by buyers trained in price negotiation?

Accepted Answer

A)  product compromise 
B)  sixty-forty 
C)  budget limitation 
D)  cards on the table 
E)  maybe...if 
A)  product compromise 
B)  sixty-forty 
C)  budget limitation 
D)  cards on the table 
E)  maybe...if

Question 6

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

A)  offering to reduce the price through unbundling 
B)  telling her to request a larger budget from her manager 
C)  offering her the product for what she says she can spend 
D)  asking to see proof of the limit of her budget 
E)  convincing her of the benefits of the product 
A)  offering to reduce the price through unbundling 
B)  telling her to request a larger budget from her manager 
C)  offering her the product for what she says she can spend 
D)  asking to see proof of the limit of her budget 
E)  convincing her of the benefits of the product

Question 7

A growing number of professional buyers have completed training in negotiation.

Accepted Answer

A) True 
 B)False

Question 8

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.
-Karyn's team has already uncovered the lab's needs during the consultative questioning stage of the presentation.Which of the following is most likely true?

Accepted Answer

A)  The team should practice debating features and benefits before the negotiation. 
B)  The team should continue to gather as much information on the lab and the lab's buying team as possible before the negotiation. 
C)  The team has already missed their best window of opportunity for negotiations. 
D)  The team should be more aggressive about offering discounts to achieve a fast close. 
E)  The team is more prepared than they need to be for the negotiation process. 
A)  The team should practice debating features and benefits before the negotiation. 
B)  The team should continue to gather as much information on the lab and the lab's buying team as possible before the negotiation. 
C)  The team has already missed their best window of opportunity for negotiations. 
D)  The team should be more aggressive about offering discounts to achieve a fast close. 
E)  The team is more prepared than they need to be for the negotiation process.

Question 9

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

Accepted Answer

A) True 
 B)False

Question 10

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

Accepted Answer

A)  reservation value 
B)  best alternative 
C)  peak price point 
D)  price objection 
E)  zone of possible agreement 
A)  reservation value 
B)  best alternative 
C)  peak price point 
D)  price objection 
E)  zone of possible agreement

Question 11

Balance of power is most likely the issue a salesperson must consider when responding to a ________ tactic.

Accepted Answer

A)  budget limitation 
B)  feel-felt-found 
C)  let-us-split-the-difference 
D)  "if...then" 
E)  "sell low now, make profits later" 
A)  budget limitation 
B)  feel-felt-found 
C)  let-us-split-the-difference 
D)  "if...then" 
E)  "sell low now, make profits later"

Question 12

The ________ method of negotiating buyer resistance is one of the most convincing ways to overcome buyer skepticism.

Accepted Answer

The answer of The ________ method of negotiating buyer resistance...

Question 13

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

Accepted Answer

A) True 
 B)False

Question 14

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

Accepted Answer

A) True 
 B)False

Question 15

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

Accepted Answer

A)  negotiation 
B)  agreement 
C)  practice theory 
D)  tactics 
E)  strategy 
A)  negotiation 
B)  agreement 
C)  practice theory 
D)  tactics 
E)  strategy

Question 16

Cost represents the:

Accepted Answer

A)  relationship between price and amortization 
B)  initial amount the buyer pays for the product 
C)  amount the buyer pays for a product as it is used over a period of time 
D)  true value of the product in non-financial terms 
E)  buyer's contribution to the negotiations 
A)  relationship between price and amortization 
B)  initial amount the buyer pays for the product 
C)  amount the buyer pays for a product as it is used over a period of time 
D)  true value of the product in non-financial terms 
E)  buyer's contribution to the negotiations

Question 17

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

Accepted Answer

A) True 
 B)False

Question 18

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

Accepted Answer

A)  suggest postponing the negotiations 
B)  divert attention to a product feature 
C)  illustrate the product's high quality 
D)  deny the accuracy of the objection 
E)  clarify the true nature of the problem 
A)  suggest postponing the negotiations 
B)  divert attention to a product feature 
C)  illustrate the product's high quality 
D)  deny the accuracy of the objection 
E)  clarify the true nature of the problem

Question 19

Adding value with a cluster of satisfactions would be an effective way to deal with:

Accepted Answer

A)  time resistance 
B)  adaptive selling 
C)  price resistance 
D)  third-party testimonials 
E)  decision postponements 
A)  time resistance 
B)  adaptive selling 
C)  price resistance 
D)  third-party testimonials 
E)  decision postponements

Question 20

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

A)  discuss superior benefits 
B)  engage in back-pedaling 
C)  begin a pricing approach 
D)  re-start the presentation 
E)  criticize the competition 
A)  discuss superior benefits 
B)  engage in back-pedaling 
C)  begin a pricing approach 
D)  re-start the presentation 
E)  criticize the competition

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

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

An agreement to keep the same price but reduce prices in the future is often a successful response to which of the following tactics used by buyers?

Professional buyers often learn to use specific tactics in dealing with salespeople.List three tactics that were identified in Homer Smith's book,Selling Through Negotiation.

Which tactic would most likely be used by buyers trained in price negotiation?

A growing number of professional buyers have completed training in negotiation.

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

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

Balance of power is most likely the issue a salesperson must consider when responding to a ________ tactic.

The ________ method of negotiating buyer resistance is one of the most convincing ways to overcome buyer skepticism.

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

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

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

Cost represents the:

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

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

Adding value with a cluster of satisfactions would be an effective way to deal with:

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?

Relationship Selling Opportunities in the Information Economy

Evolution of Selling Models That Compliment the Marketing Concept

Ethics: the Foundation for Partnering Relationships That Create Value

Creating Value With a Relationship Strategy

Communication Styles: a Key to Adaptive Selling Today

Creating Product Solutions

Product-Selling Strategies That Add Value

The Buying Process and Buyer Behavior

Developing and Qualifying Prospects and Accounts

Approaching the Customer With Adaptive Selling

Determining Customer Needs With a Consultative Questioning Strategy

Creating Value With the Consultative Presentation

Adapting the Close and Confirming the Partnership

Servicing the Sale and Building the Partnership

Opportunity Management: the Key to Greater Sales Productivity

Management of the Sales Force

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Exam 13: Negotiating Buyer Concerns

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

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

An agreement to keep the same price but reduce prices in the future is often a successful response to which of the following tactics used by buyers?

Professional buyers often learn to use specific tactics in dealing with salespeople.List three tactics that were identified in Homer Smith's book,Selling Through Negotiation.

Which tactic would most likely be used by buyers trained in price negotiation?

A growing number of professional buyers have completed training in negotiation.

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

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

Balance of power is most likely the issue a salesperson must consider when responding to a ________ tactic.

The ________ method of negotiating buyer resistance is one of the most convincing ways to overcome buyer skepticism.

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

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

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

Cost represents the:

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

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

Adding value with a cluster of satisfactions would be an effective way to deal with:

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?

Relationship Selling Opportunities in the Information Economy

Evolution of Selling Models That Compliment the Marketing Concept

Ethics: the Foundation for Partnering Relationships That Create Value

Creating Value With a Relationship Strategy

Communication Styles: a Key to Adaptive Selling Today

Creating Product Solutions

Product-Selling Strategies That Add Value

The Buying Process and Buyer Behavior

Developing and Qualifying Prospects and Accounts

Approaching the Customer With Adaptive Selling

Determining Customer Needs With a Consultative Questioning Strategy

Creating Value With the Consultative Presentation

Adapting the Close and Confirming the Partnership

Servicing the Sale and Building the Partnership

Opportunity Management: the Key to Greater Sales Productivity

Management of the Sales Force

Filters