Selling
_________ is the marketing function that intends to inform, influence, and persuade the adoption of an idea or the purchase of a product.
a) Market planning
b) Advertising
c) Selling
c) Selling
A step-by-step system that guides a potential customer from first learning about a product to making a purchase and staying loyal is what we call the:
a) Marketing plan
b) Sales process
c) Relationship building process
b) Sales process
Why do businesses conduct research on customers?
To reach wider audiences and ensure that their products and/or services are meeting customer's wants and needs.
________ _____ is what we call the information gathered from interactions and transactions between a customer and a brand, and how it's used to inform and improve decision making about the brand.
a) Marketing data
b) Sales metrics
c) Forecasts
a) Marketing data
BONUS: In 1977, Roy Raymond built Victoria’s Secret from the ground up. His goal for creating this business was:
a) To set up a lingerie store for women to help them feel more beautiful.
b) To assist local modeling agencies in finding the most beautiful women to model their clothes.
c) To set up a lingerie store where men would feel comfortable shopping for their wives in.
c) To set up a lingerie store where men would feel comfortable shopping for their wives in.
There are many ways to sell a product. Persuading others through a direct, in-person (live or remote) presentation on the merits of a product, service, or idea so that they might purchase it is a form of:
a) Public relations
b) Marketing
c) Personal selling
c) Personal selling
Companies learn about competitors, understand their potential customers’ needs and wants, and ensure the company is ready for sales during the ________________ step of the sales process.
a) Research and preparation
b) Lead generation and prospecting
c) Sales presentation
a) Research and preparation
Which of the following do we look at when conducting quantitative forecast models?
a) Statistics
b) Judgements
c) Personal experiences
a) Statistics
What type of question is this?
"Did you have a good experience in our store today?"
a) Open
b) Closed
b) Closed
Closed questions require only a "yes" or "no" answer.
Fun fact: according to current sales and marketing data, 35-50% of sales go to the company that does (this) the fastest:
a) Offers exclusive discounts
b) Responds
c) Ships
b) Responds
People like it when companies respond to their questions or concerns right away. When a customer needs you, always respond as soon as you can!
Name two methods a salesperson can use to convince people to buy a product.
Talk about how the features of your product can help the person with their needs.
Establish common ground.
Turn objections into strengths.
A visual summary of potential customers in the various stages of the sales process is what we call the:
Sales Pipeline
Shania has been working in the marketing department of Sony PlayStation for over 15 years. Recently, she made a decision that was based on her experience and gut instinct about how she thought customers would respond. Shania was using:
a) Qualitative skills
b) Quantitative skills
a) Qualitative skills
To make marketing research most effective, a company should use a marketing:
Information system.
BONUS: In 1965, Orville Redenbacher paid an advertising consultant the equivalent of over $__________ in today's dollars to help him name his popcorn. Their solution? To tell him he should name his popcorn after himself.
a) $100,000
b) $85,000
c) $27,000
b) $85,000
Describe what "cold-calling" is.
When marketers call random people who may not know about your product or service. Your job is to talk to them and get them interested.
In the ____________________ step of the sales process, salespeople identify potential customers and collect information about them.
Lead generation and prospecting.
Name a method you would use to conduct quantitative research on how your customers feel about your new product.
Surveys, charts, graphs, numbers, percents, raw data
Making commission off of a sale is a form of ____________ marketing.
Multi-level marketing.
BONUS: (This) addictive phone app that you used to play, or maybe still do, reportedly brings in about $633,000 in revenue per day.
a) Candy Crush
b) Royal Kingdom
c) Call of Duty Mobile
a) Candy Crush
Describe host or "party plan" sales.
When companies use consultants to sell stuff in a group setting. Like Pampered Chef or Avon, for example.
Which step in the Sales Process is MISSING from this list?
i. Research and Preparation
ii. Lead Generation and Prospecting
iii. Approach and Needs Assessment
iv. _______________________
v. Handling Objections
vi. Closing
vii. Follow-up
Sales Presentation
Explain the difference between primary and secondary research.
Primary research involves researching and analyzing original data collected from first-hand experience. Secondary research involves researching and analyzing second-hand data that someone else has already collected.
What type of question is this?
"How was your service today: smiley face or sad face?”
Forced-choice.
With a forced-choice question, customers are required to pick one of the options you give them.
When speaking with a customer, (this) technique is 63% more effective than any other form of persuasion to get them to buy from you.
a) Data statistics
b) Describing your product's features/benefits
c) Storytelling
c) Storytelling
Customers are human beings. They tend to relate to sellers better if the seller shares stories about how the product/service can improve their lives.