Question 1

Identifying customers with common needs is called:
A) capital budgeting
B) segmentation
C) differentiation
D) penetration programming
E) harvesting

Accepted Answer

Identifying customers with common needs is known as segmentation. It involves dividing the market into smaller groups of consumers who have similar needs and preferences, and then targeting the marketing efforts towards each group separately. This approach enables companies to tailor their marketing messages and offerings to specific segments, and hence, better satisfy their needs and ultimately increase sales.

Question 2

Which of the following participants in a firm's go-to-market strategy is most efficient in that it is inexpensive per customer contact?
A) independent sales agents.
B) telemarketing.
C) advertising.
D) resellers.
E) integrators.

Accepted Answer

Advertising is generally considered the most efficient in terms of cost per customer contact because it can reach a large audience at a relatively low cost per individual.

Question 3

Aggregating customers into groups based on common needs is referred to as:
A) target marketing.
B) needs-based grouping.
C) market segmentation.
D) market implication.
E) strategic marketing.

Accepted Answer

Market segmentation is the process of dividing a market into smaller subsets of consumers with common needs or characteristics. This enables companies to tailor their marketing efforts to specific groups, increasing the effectiveness and efficiency of their campaigns. Target marketing is a specific strategy used within market segmentation, but it refers to the actual selection of a specific segment as the focus of a company's marketing efforts. Needs-based grouping is a less commonly used term and may refer to a similar concept as market segmentation, but it is not as widely recognized or practiced in the industry. Market implication and strategic marketing are not related to the concept of aggregating customers into groups based on common needs.

Question 4

Identifying customers with common needs is always a part of:
A) capital budgeting.
B) segmentation.
C) Setting business unit objectives.
D) a differentiated strategy.
E) a harvesting strategy.

Accepted Answer

Identifying customers with common needs is a key step in market segmentation, which is the process of dividing a market into smaller groups of consumers with similar needs or characteristics. This allows businesses to tailor their marketing efforts and product offerings to better meet the specific needs and preferences of these target segments. While capital budgeting, setting business unit objectives, differentiated strategy, and harvesting strategy are all important business processes, they do not directly involve identifying customer needs or market segmentation.

Question 5

Which of the following is best characterized by offering a product of acceptable quality that is competitively priced with an emphasis on convenience?
A) a transactional relationship
B) a consultative relationship
C) a enterprise relationship
D) a differentiation strategy
E) a niche strategy

Accepted Answer

Offering a product of acceptable quality that is competitively priced with an emphasis on convenience is a characteristic of a transactional relationship, where the focus is on completing a one-time transaction with the customer.

Question 6

In transactional relationships, the primary persons directly involved with customers are the______ and the_________ .
A) sales manager, customer service representative
B) salesperson, sales manager
C) salesperson, customer service representative
D) only a and b above
E) a, b, and c are all true.

Accepted Answer

In transactional relationships, the primary persons directly involved with customers include the sales manager, customer service representative, and the salesperson. These roles are crucial in managing customer interactions, sales processes, and after-sales service, making all the options (A, B, and C) correct.

Question 7

The sales force is most likely to be involved in which of the following supply chain management sub-processes?
A) managing inbound logistics.
B) managing process technology.
C) managing channel partners.
D) managing outbound logistics.
E) managing supplier relationships.

Accepted Answer

The sales force is typically involved in managing channel partners as they work directly with distributors, retailers, or other intermediaries to ensure that the company's products are effectively distributed and sold to the end customers.

Question 8

AT&T contracting with another company to jointly sell its computers in France is an example of which market accessing alternative:
A) an independent sales agent.
B) an integrator.
C) an alliance.
D) a differentiator.
E) a distributor.

Accepted Answer

An alliance involves two or more companies working together to achieve a common goal, such as accessing a new market. In this case, AT&T is partnering with another company to sell its computers in France, which is an example of an alliance. The other options, such as an independent sales agent, integrator, differentiator, and distributor, may also be used for market access, but they do not accurately describe the scenario presented in the question.

Question 9

Which of the following are given exclusive contracts to perform the selling function within specified geographic areas?
A) independent sales agents.
B) telemarketing.
C) alliances.
D) resellers.
E) integrators.

Accepted Answer

Independent sales agents are often given exclusive contracts to perform the selling function within specified geographic areas, allowing them to represent a company's products or services exclusively in those territories.

Question 10

Which of the following are considered to be "essential activities" when developing a go-to-market strategy?
A) Interest creation activities.
B) Pre-purchase activities.
C) Post-purchase activities.
D) Only b and c above.
E) all of the above.

Accepted Answer

All of the activities listed are considered to be essential when developing a go-to-market strategy. Interest creation activities help build awareness and generate leads, while pre-purchase activities focus on educating potential customers and addressing any concerns or objections they may have. Post-purchase activities involve following up with customers after they have made a purchase, with the goal of building loyalty and encouraging repeat business. All of these activities are important components of a successful go-to-market strategy.

Question 11

Value added resellers (VARS) in the computer industry are service providers, unaffiliated with any single supplier, who advice their clients on their computer needs. VARS are a good example of which of the following:
A) integrators.
B) independent sales agents.
C) alliances.
D) transactors.
E) differentiators.

Accepted Answer

Value added resellers (VARS) are considered integrators because they combine various products and services to create customized solutions for their clients, integrating different components to meet specific needs.

Question 12

Selective use of sales agents, intense supervision of a limited number of salespeople, and a largely salary based compensation plan are most likely to be associated with which of the following business strategies:
A) build
B) low cost
C) differentiated
D) diversify
E) focused

Accepted Answer

A differentiated strategy often involves using selective sales agents and intense supervision to ensure that the unique value proposition of the product or service is effectively communicated. A largely salary-based compensation plan aligns with this strategy by focusing on quality and consistency in sales efforts rather than high-volume sales.

Question 13

When introducing a new product, studies show that which of the following change are likely to be made to a firm's sales program:
A) the sales structure.
B) the quota system.
C) the advertising campaign.
D) only a and
E) all the above.

Accepted Answer

The answer of When introducing a new product, studies show...

Question 14

Which of the following are considered when developing a positioning strategy:
A) customer perceptions of our products.
B) customer perceptions of competitors' products.
C) customer size and location.
D) both a and b above.
E) a, b, and c are all likely to be considered.

Accepted Answer

When developing a positioning strategy, it is important to consider both customer perceptions of our products (option A) and customer perceptions of competitors' products (option B). This helps us to understand where we can differentiate ourselves in the market and create a unique selling proposition. Customer size and location (option C) may be important factors in determining our target market, but they are not directly related to developing a positioning strategy. Therefore, the best choice is D, both a and b above.

Question 15

Focusing your product on a special part of the market is an example of:
A) capital budgeting.
B) segmenting.
C) target marketing.
D) centralization.
E) penetration programming.

Accepted Answer

Focusing your product on a special part of the market is known as target marketing. This involves segmenting the market and identifying a specific group of consumers with distinct needs or characteristics, and then tailoring the marketing mix to meet their needs. Capital budgeting refers to the process of allocating financial resources for long-term investments. Centralization refers to the concentration of decision-making authority at a single point in the organization, while penetration programming is not a recognized term in marketing. Therefore, C is the best choice.

Question 16

Which of the following are commonly performed by independent sales agents?
A) Prospecting for new customers.
B) Advertising.
C) Product delivery.
D) Product delivery
E) All of the above are performed by independent sales agents.

Accepted Answer

Prospecting for new customers is a common task for independent sales agents. Advertising and product delivery may not necessarily be performed by them, as they may only be responsible for sales and not the actual delivery of the product.

Question 17

The high profit sales force programs in a Low-Cost business strategy are likely to include:
A) extensive use of independent sales agents.
B) compensation that is largely salary.
C) evaluations based on behaviors, as well as outcomes.
D) both a and b above.
E) none of the above.

Accepted Answer

To maintain a low-cost business strategy, the company would want to minimize fixed costs such as salaries and benefits for sales personnel. Therefore, extensive use of independent sales agents who work on commission would be a more cost-effective option. Additionally, evaluations based on outcomes (i.e. sales results) would be more important than evaluations based on behaviors.

Question 18

Developing a plan for how you want your customers to perceive your product is referred to as:
A) customer relationship management.
B) a go-to-market strategy.
C) positioning.
D) a customer strategy.
E) a segmentation strategy.

Accepted Answer

Developing a plan for how you want your customers to perceive your product is referred to as positioning. This involves defining the unique value proposition of the product and identifying the target market and competition in order to create a specific image and identity for the product in the minds of consumers. Customer relationship management, go-to-market strategy, customer strategy, and segmentation strategy are all important elements in a marketing plan, but they are not specifically focused on defining the perception of the product.

Question 19

In the computer industry, IBM is trying to de-emphasize price by promoting exceptional levels of service and support. This is an example of which generic business strategy?
A) a low-cost strategy
B) a defender strategy
C) a analyzer strategy
D) a differentiation strategy
E) a build strategy

Accepted Answer

IBM's emphasis on exceptional levels of service and support indicates that they are pursuing a differentiation strategy, which focuses on creating a unique and valuable product or service that sets them apart from competitors. This strategy is based on factors other than price, such as quality, design, brand image, and customer service.

Question 20

Market segmentation involves aggregating customers into groups that:
A) are the same size.
B) are in the same industry.
C) have similar needs.
D) both a and b above.
E) all of the above.

Accepted Answer

Market segmentation involves dividing the market into smaller groups based on similar needs, characteristics, or behaviors. Size and industry are not factors used in segmentation, therefore options A and B are incorrect. Option E is incorrect as it includes options A and B which are incorrect.

Quiz 2: Strategy and Sales Program Planning

Identifying customers with common needs is called:

Which of the following participants in a firm's go-to-market strategy is most efficient in that it is inexpensive per customer contact?

Aggregating customers into groups based on common needs is referred to as:

Identifying customers with common needs is always a part of:

Which of the following is best characterized by offering a product of acceptable quality that is competitively priced with an emphasis on convenience?

In transactional relationships, the primary persons directly involved with customers are the and the___ .

The sales force is most likely to be involved in which of the following supply chain management sub-processes?

AT&T contracting with another company to jointly sell its computers in France is an example of which market accessing alternative:

Which of the following are given exclusive contracts to perform the selling function within specified geographic areas?

Which of the following are considered to be "essential activities" when developing a go-to-market strategy?

Value added resellers (VARS) in the computer industry are service providers, unaffiliated with any single supplier, who advice their clients on their computer needs. VARS are a good example of which of the following:

Selective use of sales agents, intense supervision of a limited number of salespeople, and a largely salary based compensation plan are most likely to be associated with which of the following business strategies:

When introducing a new product, studies show that which of the following change are likely to be made to a firm's sales program:

Which of the following are considered when developing a positioning strategy:

Focusing your product on a special part of the market is an example of:

Which of the following are commonly performed by independent sales agents?

The high profit sales force programs in a Low-Cost business strategy are likely to include:

Developing a plan for how you want your customers to perceive your product is referred to as:

In the computer industry, IBM is trying to de-emphasize price by promoting exceptional levels of service and support. This is an example of which generic business strategy?

Market segmentation involves aggregating customers into groups that: