Mastering Sales Techniques
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Questions and Answers

According to the text, what is the anchor effect?

  • When clients select the best price
  • When clients compare different product offers
  • When clients don't have a reference for a product category or service (correct)
  • When clients have a reference for a product category or service

    • According to the text, what is the relationship between branding and sales?

  • Branding and sales are unrelated
  • Sales are more important than branding
  • Branding is more important than sales
  • Branding and sales have a symbiotic relationship (correct)

    • According to the text, how do digital platforms and social media influence sales strategies?

  • They decrease the importance of sales strategies
  • They completely determine sales strategies
  • They provide additional channels for sales strategies (correct)
  • They have no influence on sales strategies

    • Which type of market involves purchasing goods and services for personal use?

    <p>Business to Consumer (B2C) (A)</p> Signup and view all the answers

    Which type of market involves larger buying groups and longer sales cycles?

    <p>Business to Business (B2B) (B)</p> Signup and view all the answers

    What are the characteristics of fast moving consumer goods (FMCG)?

    <p>They involve relative low expenditures and are bought frequently. (C)</p> Signup and view all the answers

    What are the characteristics of durable consumer goods?

    <p>They involve considerable money allocation and longer decision making process. (A)</p> Signup and view all the answers

    Which type of sales funnel is particularly useful in a market with long sales cycles, such as B2B and B2G?

    <p>TOFU MOFU BOFU Sales Funnel (A)</p> Signup and view all the answers

    Which sales organization structure allows sales reps to have a deep understanding of a product portfolio and solve technical questions?

    <p>Product category or service-based sales force (B)</p> Signup and view all the answers

    Which sales organization structure offers tailor-made offers for a given industry or market?

    <p>Market-based sales force (C)</p> Signup and view all the answers

    Which type of sales funnel is potentially risky because split accountability when missing quotas?

    <p>Sales and Marketing Funnel (D)</p> Signup and view all the answers

    Which of the following is a characteristic of ambiverts?

    <p>They are comfortable in both social and solitary situations (A)</p> Signup and view all the answers

    According to the text, what is a practical implication of understanding personality types?

    <p>Optimizing sales tactics (B)</p> Signup and view all the answers

    Which of the following is a sales myth mentioned in the text?

    <p>Salespeople create needs (A)</p> Signup and view all the answers

    According to the text, what is a sales reality related to emotions in buying decisions?

    <p>Emotional state can influence judicial rulings (D)</p> Signup and view all the answers

    Which of the following is a characteristic of Business to Government (B2G) markets?

    <p>Political considerations in sales decisions (C)</p> Signup and view all the answers

    What is a key difference between Business to Government (B2G) and Business to Business (B2B) markets?

    <p>B2G involves stricter regulatory compliance compared to B2B (D)</p> Signup and view all the answers

    What does the term 'funneling' refer to in the context of sales and marketing?

    <p>The decrease in the number of potential customers as they move closer to making a decision (A)</p> Signup and view all the answers

    What does the Conversion Rate metric measure in the sales funnel?

    <p>How effectively leads convert to the next stage of the funnel (C)</p> Signup and view all the answers

    According to the text, what is social selling?

    <p>The process of researching, connecting, and interacting with prospects and customers on social media networks. (A)</p> Signup and view all the answers

    What do data-driven insights enhance in the context of sales?

    <p>Creativity in crafting more targeted and impactful branding strategies. (A)</p> Signup and view all the answers

    What does the book 'To Sell is Human' by Daniel H. Pink suggest about selling?

    <p>Selling involves moving others to adopt ideas, support causes, or take actions. (B)</p> Signup and view all the answers

    What does the study on salespeople performance suggest about extraverts, introverts, and ambiverts?

    <p>Ambiverts tend to perform better than extraverts and introverts. (B)</p> Signup and view all the answers

    Which type of sales force is cost effective for large markets with small customer accounts?

    <p>Inside sales force (A)</p> Signup and view all the answers

    Which sales organization structure involves combining different salesforces based on account segmentation?

    <p>Hybrid sales force (B)</p> Signup and view all the answers

    What is the main difference between vitamins and painkillers in the context of selling?

    <p>Vitamins are more desirable than painkillers (D)</p> Signup and view all the answers

    What is a frequent question in venture capital related to selling?

    <p>Are you selling both vitamins and painkillers? (D)</p> Signup and view all the answers

    Which of the following is a characteristic of introverts?

    <p>Prefers solitude or small group interactions (B)</p> Signup and view all the answers

    Which of the following is a characteristic of extroverts?

    <p>Enjoys social interactions but also values alone time (A)</p> Signup and view all the answers

    Which of the following is a characteristic of ambiverts?

    <p>Can be both talkative and reserved depending on the situation (A)</p> Signup and view all the answers

    According to the text, why are ambiverts adaptable and assertive?

    <p>They can be both talkative and reserved depending on the situation (A)</p> Signup and view all the answers

    Which type of market involves purchasing goods and services for personal use?

    <p>B2C (B)</p> Signup and view all the answers

    What are the characteristics of durable consumer goods?

    <p>They have shorter decision-making processes (B)</p> Signup and view all the answers

    Which type of market has larger buying groups compared to B2C?

    <p>B2B (A)</p> Signup and view all the answers

    What is a key difference between Business to Government (B2G) and Business to Business (B2B) markets?

    <p>B2B buyers have higher purchasing power and are able to negotiate on price (C)</p> Signup and view all the answers

    According to the text, what is the definition of social selling?

    <p>The process of researching, connecting, and interacting with prospects and customers on social media networks. (B)</p> Signup and view all the answers

    What is a key characteristic of social selling mentioned in the text?

    <p>Requires salespeople to engage with their target buyers and build credibility. (B)</p> Signup and view all the answers

    Which of the following is a sales myth mentioned in the text?

    <p>Selling is only for extraverts. (B)</p> Signup and view all the answers

    According to the text, what is a sales reality related to personality types?

    <p>Personality type does not determine sales success. (C)</p> Signup and view all the answers

    Which of the following is a potential consequence of not understanding the anchor effect in sales?

    <p>Decreased sales performance (B)</p> Signup and view all the answers

    What is the main relationship between branding and sales?

    <p>Branding has a direct impact on sales (B)</p> Signup and view all the answers

    How do creative campaigns typically translate into sales?

    <p>They can lead to increased sales (C)</p> Signup and view all the answers

    What is the role of digital platforms and social media in influencing sales strategies?

    <p>They play a significant role in shaping sales strategies (A)</p> Signup and view all the answers

    Which of the following is a characteristic of Business to Government (B2G) markets?

    <p>B2G contracts are generally fewer in number compared to B2C contracts. (D)</p> Signup and view all the answers

    What is the main difference between Business to Government (B2G) and Business to Business (B2B) markets?

    <p>B2G sales cycles are longer compared to B2B sales cycles. (B)</p> Signup and view all the answers

    What does the Conversion Rate metric measure in the sales funnel?

    <p>How effectively leads convert to the next stage of the funnel. (A)</p> Signup and view all the answers

    What does the term 'funneling' refer to in the context of sales and marketing?

    <p>The stages of the customer's journey from initial awareness to the final action, a purchase. (B)</p> Signup and view all the answers

    Which type of sales organization structure involves sales reps selling all products in a given area?

    <p>Territory or geography-based sales force (A)</p> Signup and view all the answers

    Which type of sales organization structure allows the company to offer specialized training and develop individualized sales approaches and applications by industry?

    <p>Product category or service-based sales force (B)</p> Signup and view all the answers

    Which type of sales organization structure involves sales reps who are specialists in a given industry or market and manage the entire portfolio offer for a given customer cluster?

    <p>Market-based sales force (C)</p> Signup and view all the answers

    What is the relationship between sales and marketing in a potentially risky sales funnel?

    <p>Sales and marketing have split accountability when missing quotas (D)</p> Signup and view all the answers

    Which type of sales force is cost effective for large markets with small customer accounts?

    <p>Inside sales force (C)</p> Signup and view all the answers

    What is the main difference between vitamins and painkillers in the context of selling?

    <p>Vitamins are more preventive while painkillers are more reactive (A)</p> Signup and view all the answers

    Which type of sales organization structure involves combining different salesforces based on account segmentation?

    <p>Hybrid sales force (B)</p> Signup and view all the answers

    What are we selling: vitamins or painkillers?

    <p>Both vitamins and painkillers (B)</p> Signup and view all the answers

    Why is the question of selling vitamins or painkillers important?

    <p>It determines the investment potential (C)</p> Signup and view all the answers

    Which type of sales force is particularly useful in a market with long sales cycles, such as B2B and B2G?

    <p>Outside sales force (B)</p> Signup and view all the answers

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