Question 1

Which of the following rules should a salesperson adopt in order to have more productive lunch periods?

Accepted Answer

The answer of Which of the following rules should a...

Question 2

One of your colleagues comes to you looking for some advice.No matter what she does, she seems to be always buried in paperwork often impacting her ability to spend time with her clients.What advice would you give here?

Accepted Answer

Developing a daily schedule that includes an element of administrative work can help her manage her paperwork more effectively. Postponing or accumulating paperwork can lead to a backlog and cause stress, while hiring a secretary may not be a feasible solution. Reminding her of the importance of paperwork for maintaining client relationships and keeping track of sales may also be helpful.

Question 3

To calculate break-even point, the sales person must divide:

Accepted Answer

The break-even point is the level of sales at which total revenues equal total costs, resulting in neither a profit nor a loss. The calculation requires dividing fixed costs by the gross profit percentage. The fixed costs represent the minimum level of expenditure required to keep the business operating, while the gross profit percentage is the revenue left over after deducting the cost of goods sold. Therefore, option E (Fixed costs by gross profit percentage) is the correct choice.

Question 4

Which one of the following suggestions is NOT offered in the textbook to help you manage your sales time effectively?

Accepted Answer

The suggestion to call all prospects even if they are not qualified is not offered in the textbook as a way to manage sales time effectively. This can actually waste time and decrease productivity. The other suggestions listed - working your numbers, using a set time for sales activities, leveraging your lunch break, and staying focused on your task - are all offered as effective ways to manage sales time.

Question 5

What is one main reason why a salesperson should segment their accounts by size?

Accepted Answer

By segmenting accounts by size, a salesperson can prioritize their time and ensure they are using it appropriately. They can focus more time and resources on larger accounts which have the potential for higher revenue, while spending less time on smaller accounts. This helps them maximize their productivity and achieve their sales targets.

Question 6

Mr.Lee is the owner of a hockey equipment manufacturer based out of Montreal.He likes to segregate his customers based on the following four classification; Professional teams, Semi-pro teams, Schools and Universities, and Not-for-profit teams.What approach to segmentation is Mr.Lee using?

Accepted Answer

Mr. Lee is using the account segmentation method, which involves categorizing customers based on specific characteristics or types, such as professional teams, semi-pro teams, schools and universities, and not-for-profit teams.

Question 7

Hans is a manufacturer's salesperson.He finds it useful to divide the accounts in his territory on the basis of their actual yearly sales volume.What strategy is Hans using?

Accepted Answer

The ELMS system categorizes accounts based on their sales volume, which is what Hans is doing by dividing accounts according to their yearly sales volume.

Question 8

Which one of the following may NOT be a question other ask rhetorically to determine your executive presence?

Accepted Answer

The question about formal education is not typically asked rhetorically to determine one's executive presence. The other questions are more commonly used to assess someone's credibility, authenticity, skills, attitude, and ability to handle challenges in a leadership role.

Question 9

Which of the following describes the notion of "sales response function"?

Accepted Answer

The answer of Which of the following describes the notion...

Question 10

Which of the following is NOT among the six time management skills to help salespeople achieve success listed in the textbook?

Accepted Answer

Avoiding overcommitting to core work tasks at the expense of nonessential tasks is actually one of the six time management skills listed in the textbook for salespeople to help achieve success. The other options (A, B, D, E) are all valid time management skills for salespeople according to the textbook.

Question 11

The old adage "time is money" resonates with many successful salespeople.Which of the following would NOT be variables that a successful salesperson would include in a time management plan?

Accepted Answer

The time management plan is focused on managing time efficiently and effectively to increase productivity and sales. Using the plan to populate sales presentation material is not necessarily a variable that a successful salesperson would include in their time management plan as it pertains more to content creation than time management. The other options all relate to optimizing time spent on the most profitable prospects and maximizing the chances of closing deals.

Question 12

The difference between cost of goods sold and sales is called:

Accepted Answer

The difference between cost of goods sold and sales is called gross profit. Gross profit represents the amount of money a company makes after deducting the cost of goods sold from its revenue.

Question 13

The break-even analysis helps the salesperson in determining:

Accepted Answer

The break-even analysis helps the salesperson in determining the level of sales at which the total cost equals total revenue. This helps to analyze the minimum level of sales that the company needs to generate to cover all its expenses and start generating profits.

Question 14

A company directs its sales force members to use multiple selling strategies.What are its salespeople expected to do?

Accepted Answer

The answer of A company directs its sales force members...

Question 15

A particular salesperson develops the following goal or objective; "To increase the number of sales calls each day." What kind of objective or goal is this?

Accepted Answer

The answer of A particular salesperson develops the following goal...

Question 16

Which of the following is NOT offered by territory analysis?

Accepted Answer

The answer of Which of the following is NOT offered...

Question 17

You are the salesperson for a wholesale business that makes CRM platforms for a variety of different industries.Which of the following variables will lead you to increase the numbers of visits to a particular wholesaler?

Accepted Answer

Increasing the number of different CRM systems sold to the wholesaler can increase the sales potential and also provide more options for the wholesaler to choose from, potentially leading to more visits and orders placed. The other options do not directly correlate to an increase in wholesaler visits or sales potential.

Question 18

Typically, the salesperson invests time in direct proportion to the actual or potential sales that the account represents.What is the term that best describes this relationship?

Accepted Answer

The answer of Typically, the salesperson invests time in direct...

Question 19

Which of the following is NOT one of the seven variables discussed in the textbook that should be considered when a salesperson attempts to determine how much time should be spent calling on customers in a specific territory?

Accepted Answer

The seven variables discussed in the textbook are: 
1. Sales potential of each customer or prospect
2. Geographical size of the territory
3. Number of customers and prospects in the territory
4. Frequency of customer sales calls
5. Non-selling time
6. Return on time invested
7. Number of sales calls made on customers. Clients' receptivity to new products is not included as one of the variables.

Question 20

If a salesperson incurs $50,000 in fixed costs and the gross profit percentage is 50%, then the break-even point is:

Accepted Answer

The break-even point is calculated by dividing the fixed costs by the gross profit percentage. Here, $50,000 / 0.50 = $100,000.

Quiz 13: Time, Territory, and Self-Management