Marketing and Sales Concepts
30 Questions
0 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What type of data is collected by someone other than the researcher?

  • Internal Data
  • Secondary Data (correct)
  • Primary Data
  • External Data
  • What type of data is more important to the marketing researcher today due to its availability and usefulness?

  • Internal Data
  • External Data
  • Primary Data
  • Secondary Data (correct)
  • What term refers to the use of internal databases to target programs directly to consumers?

  • Primary Data
  • Internal Data
  • Database Marketing (correct)
  • External Data
  • What is a collection of data and information describing items of interest?

    <p>Database</p> Signup and view all the answers

    What is the definition of Market Research?

    <p>The systematic and objective process of generating information to aid in making marketing decisions</p> Signup and view all the answers

    What type of data is obtained outside the firm?

    <p>External Secondary Data</p> Signup and view all the answers

    What type of marketing relies heavily on interpersonal communication and interaction between buyers and sellers?

    <p>Personal selling</p> Signup and view all the answers

    What is the term for the series of conversations between buyers and sellers that take place over time in an attempt to build relationships?

    <p>Sales conversation</p> Signup and view all the answers

    What is the relationship between salespeople and revenue in most business firms?

    <p>Direct</p> Signup and view all the answers

    Which role played by salespeople in consultative selling is most dependent on the salesperson's business, industry, and customer knowledge?

    <p>Business consultant</p> Signup and view all the answers

    Which of the following is not a typical skill required for trust-based relationship selling?

    <p>Financial planning</p> Signup and view all the answers

    What is a key difference between traditional sales tactics and trust-based relationship selling methods today?

    <p>Trust-based relationship selling focuses on building long-term relationships</p> Signup and view all the answers

    What is the testing of new product concepts in a targeted segment of the market called?

    <p>Concept testing</p> Signup and view all the answers

    What should a product manager focus on the most when building a new product?

    <p>A balance between selling and product development</p> Signup and view all the answers

    Is it useful to add features to a product if the customer does not use them?

    <p>False</p> Signup and view all the answers

    When did modern product management start to take shape?

    <p>With the explosive growth of the software market</p> Signup and view all the answers

    What is the term for all activities and processes that provide value to customers?

    <p>Value delivery system</p> Signup and view all the answers

    What is the bundle of benefits offered to consumers through a channel of distribution called?

    <p>A value delivery system</p> Signup and view all the answers

    What is a key characteristic of the value chain concept?

    <p>Interdependence among channel members</p> Signup and view all the answers

    What is the minimum level of service that a customer expects from a retailer?

    <p>Expected retail strategy</p> Signup and view all the answers

    What is a unique strategy that no competing retailer has perfected?

    <p>Potential retail strategy</p> Signup and view all the answers

    What is the term for the measurement of customer satisfaction and loyalty?

    <p>American Consumer Satisfaction Index (ACSI)</p> Signup and view all the answers

    What is true about a retailer's core customers?

    <p>They deserve special treatment</p> Signup and view all the answers

    What is a component of relationship retailing?

    <p>All of the above</p> Signup and view all the answers

    Which type of service gives retailers a competitive advantage?

    <p>Customer loyalty program</p> Signup and view all the answers

    What type of account bills customers monthly based on their outstanding cumulative balance?

    <p>Revolving credit account</p> Signup and view all the answers

    In which type of account must customers pay their full bill when it is due?

    <p>Open credit account</p> Signup and view all the answers

    Which strategy allows retailers to reward their best customers?

    <p>Customer loyalty programs</p> Signup and view all the answers

    What is a critical component of a customer loyalty program?

    <p>A database to track consumer purchases</p> Signup and view all the answers

    What is the term for an ongoing relationship between parties involved in producing and selling goods and services?

    <p>Value delivery system</p> Signup and view all the answers

    More Like This

    Marketing and Sales Concepts Quiz
    12 questions
    Sales and Marketing Fundamentals
    18 questions
    Marketing vs Sales Concept
    24 questions
    Use Quizgecko on...
    Browser
    Browser