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Pricing Schools Business

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Sales Fundamentals: Understanding Customer Value and Relationships

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Sales Fundamentals: Understanding Customer Value and Relationships

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Questions and Answers

What determines what is valuable in a salesperson's role?

The salesperson

The product

The company

The customer (correct)

What are the three factors that influence buyer relationships, according to Dr. Kent?

Understanding, empathy, and fairness

Honesty, competence, and benevolence (correct)

Honesty, competence, and loyalty

Respect, trust, and reliability

Why do companies focus on improving salespeople's time and territory management?

Because time is always limited (correct)

To reduce sales costs

To increase sales productivity

Because territory is always expanding

How do salespeople demonstrate competence?

By maintaining knowledge of company procedures and products/services (D) Signup and view all the answers

What is perceived purchase satisfaction?

The difference between product expectation and actual experience (D) Signup and view all the answers

What is the purpose of Steve Cubbies' 2x2 quadrant?

To prioritize tasks based on urgency and importance (A) Signup and view all the answers

What is the result of increasing the amount of a customer's total spending that a business captures?

Increase in revenue (C) Signup and view all the answers

Why is seeking customer feedback not a reliable method of finding out how a business is performing?

Customers may not provide truthful and detailed responses (C) Signup and view all the answers

What is the goal of a salesperson when building a long-term relationship with a customer?

To gain the trust of the customer and transition to an advisor-seller relationship (A) Signup and view all the answers

What is the purpose of a salesperson telling a story to a customer?

To show empathy to the customer about problems and challenges (A) Signup and view all the answers

What is the acronym TALE stands for in the context of storytelling in sales?

Talking point and Listening Eagerly (B) Signup and view all the answers

What is an example of a question that salespeople could ask to determine the loyalty of a customer?

Do you prefer us to other companies? If so, why? (B) Signup and view all the answers