Question 1

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

Accepted Answer

A) Different cultural expectations can cause miscommunication. 
B) It is sometimes advisable to become antagonistic during negotiations. 
C) Business rituals are largely the same across cultures. 
D) German buyers are unlikely to look you in the eye. 
E) In China,negotiations are less straightforward than in Japan. 
A) Different cultural expectations can cause miscommunication. 
B) It is sometimes advisable to become antagonistic during negotiations. 
C) Business rituals are largely the same across cultures. 
D) German buyers are unlikely to look you in the eye. 
E) In China,negotiations are less straightforward than in Japan.

Question 2

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

Accepted Answer

A) the process will be delayed and you may be able to wear the buyer down 
B) you will have a leg up on buyers,who are restricted from performing these assessments 
C) you will only make the sale if your BATNA determination matches your buyer's exactly 
D) they determine the best fair price for a product 
E) they tell you what you will be willing to accept before you walk away from the negotiation 
A) the process will be delayed and you may be able to wear the buyer down 
B) you will have a leg up on buyers,who are restricted from performing these assessments 
C) you will only make the sale if your BATNA determination matches your buyer's exactly 
D) they determine the best fair price for a product 
E) they tell you what you will be willing to accept before you walk away from the negotiation

Question 3

The sales director of a food supply house to restaurants has been analyzing sales for the past two years,and has discovered that sales representatives have been losing sales and giving larger discounts than they should,and giving away too many "freebies" to clients.
-The sales director requires the sales representatives to undergo further training in:

Accepted Answer

A) cold calling 
B) the pre-approach 
C) needs discovery 
D) accent reduction 
E) servicing the account 
A) cold calling 
B) the pre-approach 
C) needs discovery 
D) accent reduction 
E) servicing the account

Question 4

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

Accepted Answer

A) product 
B) time 
C) need 
D) source 
E) price 
A) product 
B) time 
C) need 
D) source 
E) price

Question 5

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.
-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 could move the negotiations forward most easily?

Accepted Answer

A) The sales team could offer to demonstrate the microscope to the lab supervisors. 
B) The sales team could show the buyers testimonials on the efficacy of the microscope. 
C) The sales team could ignore this and offer expedited delivery. 
D) The sales team could offer discounted training delivered by the microscope company implementation team. 
E) The sales team could assure the buyers that the microscope is easy to use. 
A) The sales team could offer to demonstrate the microscope to the lab supervisors. 
B) The sales team could show the buyers testimonials on the efficacy of the microscope. 
C) The sales team could ignore this and offer expedited delivery. 
D) The sales team could offer discounted training delivered by the microscope company implementation team. 
E) The sales team could assure the buyers that the microscope is easy to use.

Question 6

A professional buyer says,"My final offer is $9,500,take it or leave it." A good way to cope with this type of resistance is to:

Accepted Answer

A) lower your price,but make sure the sale still results in a profit for your company 
B) confidently review the superior benefits of your product and make another closing attempt 
C) make a counteroffer that is about 10 percent under your first price quote 
D) review the benefits of buying from your company 
E) agree to lower prices for the first year but increase prices for subsequent years 
A) lower your price,but make sure the sale still results in a profit for your company 
B) confidently review the superior benefits of your product and make another closing attempt 
C) make a counteroffer that is about 10 percent under your first price quote 
D) review the benefits of buying from your company 
E) agree to lower prices for the first year but increase prices for subsequent years

Question 7

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.
-If Kelly and the seller cannot come to terms on pricing or any other equivalent factors,which of the following is the most likely outcome of the negotiation?

Accepted Answer

A) The seller will give in and accept the price the buyer wants to pay. 
B) The buyer and seller will flip a coin or use another random method to decide whose terms to use. 
C) The buyer and seller will walk away from the negotiation without closing a sale. 
D) The buyer and seller will take the disagreement to an outside mediator. 
E) The buyer will give in and pay the full price asked by the seller. 
A) The seller will give in and accept the price the buyer wants to pay. 
B) The buyer and seller will flip a coin or use another random method to decide whose terms to use. 
C) The buyer and seller will walk away from the negotiation without closing a sale. 
D) The buyer and seller will take the disagreement to an outside mediator. 
E) The buyer will give in and pay the full price asked by the seller.

Question 8

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's bottom line is price,but she has wiggle room if the seller can move on terms such as tiered discounts for subsequent orders.Which of the following would be most likely to be meaningful to Kelly?

Accepted Answer

A) personalized service agreement for the product 
B) implementation of the product 
C) free training on use of the product 
D) a delayed payment plan 
E) using a different manufacturer 
A) personalized service agreement for the product 
B) implementation of the product 
C) free training on use of the product 
D) a delayed payment plan 
E) using a different manufacturer

Question 9

You usually get what you deserve,no matter how you negotiate.

Accepted Answer

A) True 
 B)False

Question 10

Which of the following is an important consideration that buyers should keep in mind if they are searching for the lowest price on a product?

Accepted Answer

A) Transactional buying does not lead to relationships with the seller. 
B) Features and benefits are not always related to price. 
C) Lower prices may also mean lower costs. 
D) The highest quality can never be obtained at the lowest price. 
E) Paying too much is worse than paying too little. 
A) Transactional buying does not lead to relationships with the seller. 
B) Features and benefits are not always related to price. 
C) Lower prices may also mean lower costs. 
D) The highest quality can never be obtained at the lowest price. 
E) Paying too much is worse than paying too little.

Question 11

If you believe in your product and understand its unique features,it should not be necessary to prepare for price resistance.

Accepted Answer

A) True 
 B)False

Question 12

The"budget limitation tactic" is often used by buyers who have been trained in negotiation.

Accepted Answer

A) True 
 B)False

Question 13

Which of the following is an acceptable method of negotiating the price objection?

Accepted Answer

A) Make price the focal point of your presentation. 
B) Explain and demonstrate the difference between price and cost. 
C) Focus your comments on an individual product feature. 
D) Apologize for high prices. 
E) Lower the price if the customer balks. 
A) Make price the focal point of your presentation. 
B) Explain and demonstrate the difference between price and cost. 
C) Focus your comments on an individual product feature. 
D) Apologize for high prices. 
E) Lower the price if the customer balks.

Question 14

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 15

One of the most common forms of buyer resistance and one of the most common excuses is:

Accepted Answer

A) lack of recognition of need for the product 
B) personality conflict with the salesperson 
C) loyalty to another firm 
D) resistance to price 
E) dispute about payment terms 
A) lack of recognition of need for the product 
B) personality conflict with the salesperson 
C) loyalty to another firm 
D) resistance to price 
E) dispute about payment terms

Question 16

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

Accepted Answer

A) instruct the prospect in comparison shopping 
B) make the price the major selling point of the sales presentation 
C) prove that your product will help ensure company profits 
D) point out the superior qualities of your product compared to others on the market 
E) reiterate all the features of your product 
A) instruct the prospect in comparison shopping 
B) make the price the major selling point of the sales presentation 
C) prove that your product will help ensure company profits 
D) point out the superior qualities of your product compared to others on the market 
E) reiterate all the features of your product

Question 17

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

Accepted Answer

A) True 
 B)False

Question 18

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.
-The selling team must be mindful of which of the following in preparing to negotiate with the buyers for the lab?

Accepted Answer

A) They should be prepared to deal with buyers with well-developed negotiation skills. 
B) They should be prepared to give concessions quickly to show good will to the buyers. 
C) They should be prepared to settle most of the points of contention right away. 
D) They should be prepared to revalue the microscope to make the sale. 
E) They should be prepared to stick to the most important consideration: price. 
A) They should be prepared to deal with buyers with well-developed negotiation skills. 
B) They should be prepared to give concessions quickly to show good will to the buyers. 
C) They should be prepared to settle most of the points of contention right away. 
D) They should be prepared to revalue the microscope to make the sale. 
E) They should be prepared to stick to the most important consideration: price.

Question 19

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) by offering to sell components of the initial offering for the amount of money she can spend 
B) by telling her to ask her manager for a larger budget 
C) by offering her the product for what she says she can spend 
D) by asking to see proof of the limit of her budget 
E) by convincing her of the benefits of the product 
A) by offering to sell components of the initial offering for the amount of money she can spend 
B) by telling her to ask her manager for a larger budget 
C) by offering her the product for what she says she can spend 
D) by asking to see proof of the limit of her budget 
E) by convincing her of the benefits of the product

Question 20

The sales director of a food supply house to restaurants has been analyzing sales for the past two years,and has discovered that sales representatives have been losing sales and giving larger discounts than they should,and giving away too many "freebies" to clients.
-A salesperson who goes into a negotiation process without any preparation is likely either to lose the sale or:

Accepted Answer

A) to give in to the buyer with discounts that are too large 
B) to create a solution both buyer and sales representative are happy with 
C) to sell a product that doesn't exist 
D) to give the prospect too much overwhelming information 
E) to promote the competition 
A) to give in to the buyer with discounts that are too large 
B) to create a solution both buyer and sales representative are happy with 
C) to sell a product that doesn't exist 
D) to give the prospect too much overwhelming information 
E) to promote the competition

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

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

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

A professional buyer says,"My final offer is $9,500,take it or leave it." A good way to cope with this type of resistance is to:

You usually get what you deserve,no matter how you negotiate.

Which of the following is an important consideration that buyers should keep in mind if they are searching for the lowest price on a product?

If you believe in your product and understand its unique features,it should not be necessary to prepare for price resistance.

The"budget limitation tactic" is often used by buyers who have been trained in negotiation.

Which of the following is an acceptable method of negotiating the price objection?

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.

One of the most common forms of buyer resistance and one of the most common excuses is:

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

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

Relationship Selling Opportunities in the Information Economy

Evolution of Selling Models That Compliment the Marketing Concept

Creating Value With a Relationship Strategy

Communication Styles: a Key to Adaptive Selling Today

Ethics: the Foundation for Relationships in Selling

Creating Product Solutions

Product-Selling Strategies That Add Value

The Buying Process and Buyer Behavior

Developing and Qualifying a Prospect Base

Approaching the Customer With Adaptive Selling

Determining Customer Needs With a Consultative Questioning Strategy

Creating Value With the Consultative Demonstration

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

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

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

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

A professional buyer says,"My final offer is $9,500,take it or leave it." A good way to cope with this type of resistance is to:

You usually get what you deserve,no matter how you negotiate.

Which of the following is an important consideration that buyers should keep in mind if they are searching for the lowest price on a product?

If you believe in your product and understand its unique features,it should not be necessary to prepare for price resistance.

The"budget limitation tactic" is often used by buyers who have been trained in negotiation.

Which of the following is an acceptable method of negotiating the price objection?

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.

One of the most common forms of buyer resistance and one of the most common excuses is:

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

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

Relationship Selling Opportunities in the Information Economy

Evolution of Selling Models That Compliment the Marketing Concept

Creating Value With a Relationship Strategy

Communication Styles: a Key to Adaptive Selling Today

Ethics: the Foundation for Relationships in Selling

Creating Product Solutions

Product-Selling Strategies That Add Value

The Buying Process and Buyer Behavior

Developing and Qualifying a Prospect Base

Approaching the Customer With Adaptive Selling

Determining Customer Needs With a Consultative Questioning Strategy

Creating Value With the Consultative Demonstration

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