Set Your Sales
Individuals who are planning a career in selling should understand that
a. the selling process never varies. c. the selling process is quite simple.
b. there is one correct selling process. d. there is no single, correct selling process.
d. there is no single, correct selling process.
The determination of an exchange price acceptable to both the buyer and the seller of a
product is called
a. pricing. c. place decision.
b. promotion. d. product decision
a. pricing.
Before a salesperson can sell a product, s/he must
a. purchase it for his/her own use. c. find potential customers.
b. learn about the competition. d. acquire knowledge about it.
d. acquire knowledge about it.
With what do many customers associate price? (5 points)
a. Quality c. Comfort
b. Discounts d. Location
a. Quality
To discover customer needs/wants, the salesperson should be skilled at
a. watching and waiting. c. talking and arguing.
b. questioning and listening. d. coaxing and persuading.
b. questioning and listening.
Using a step-by-step selling process helps salespeople to remain organized, gaining customer
a. confidence. c. referrals.
b. praise. d. admiration.
a. confidence.
A buyer is willing to pay $9.99 for a product. If the seller is willing to accept that amount, then $9.99 is the
a. demand. c. markdown.
b. value.
A buyer is willing to pay $9.99 for a product. If the seller is willing to accept that amount, then $9.99 is the (5 points)
a. demand. c. markdown.
b. value. d. exchange price.
d. exchange price.
Adam is a financial manager, and he’s looking for potential customers who might be interested in investing in a certain hedge fund. He is in the process of
a. generating sales leads. c. identifying features and benefits.
b. qualifying sales leads. d. prescribing solutions to customer needs.
a. generating sales leads.
A downturn in the economy has forced a home builder to lower its prices. This company has __________ prices. (5 points)
a. realistic c. competitive
b. flexible d. inflexible
b. flexible
Double Jeopardy
Sizing up customer needs/wants helps to reduce selling time and customer dissatisfaction,
as well as enable salespeople to
a. hold down their commissions. c. prevent problems from arising.
Sizing up customer needs/wants helps to reduce selling time and customer dissatisfaction,
as well as enable salespeople to
a. hold down their commissions. c. prevent problems from arising.
b. call on/serve more customers. d. concentrate on a few customers.
b. call on/serve more customers
Using a step-by-step selling process is likely to increase company
a. salaries. c. morale.
b. profits. d. standards.
b. profits.
Double Jeopardy
Sellers must carefully set prices so that buyers feel they are receiving __________ value for their money. (5 points)
a. no c. little
b. minimum
Sellers must carefully set prices so that buyers feel they are receiving __________ value for their money. (5 points)
a. no c. little
b. minimum d. optimum
Sellers must carefully set prices so that buyers feel they are receiving __________ value for their money. (5 points)
a. no c. little
b. minimum d. optimum
Adam is determining if potential customers have the money and interest to invest in a certain hedge fund. He is in the process of
a. generating sales leads. c. identifying features and benefits.
b. qualifying sales leads. d. prescribing solutions to customer needs.
b. qualifying sales leads.
A station across the street is offering gasoline for five cents cheaper per gallon. The other stations in the area decide to lower their prices as well. This is an example of __________ pricing.
a. inflexible c. competitive
b. unrealistic d. realistic
c. competitive
Double Jeopardy
After determining customers’ needs/wants, salespeople should be ready to
a. offer solutions. c. question the customer.
b. reach closure. d. reassure the customer.
a. offer solutions.
Double Jeopardy
A true statement about the steps of the selling process is that they
a. have specific time limits. c. should be performed consecutively.
b. can be rearranged in any way. d. do not follow a particular order.
c. should be performed consecutively
What might happen if a business’s customers feel that they are not getting the most value for their money? (5 points)
a. Sales increase. c. Customers purchase more.
b. Customers spend money elsewhere. d. Sales remain the same.
b. Customers spend money elsewhere.
Double Jeopardy
One of the purposes of establishing a relationship with a customer in the beginning of the
selling process is to
a. make a single sale. c. put the customer on guard.
b. gain the customer’s confidence. d. prevent customer objections.
b. gain the customer’s confidence.
Double Jeopardy
To set prices, businesses must price the physical product and all of its associated (5 points)
a. features. c. physical characteristics.
b. services. d. value.
b. services.
An important purpose of the sales talk as a step in the selling process is to
a. close the sale as quickly as possible.
b. demonstrate the salesperson’s selling skills.
c. convince the customer of the product’s benefits.
d. provide a minimum amount of product information.
c. convince the customer of the product’s benefits.
The first step a salesperson must take in the selling process is to
a. recommend products. c. prepare.
b. close. d. greet customers.
c. prepare.
Can prices be set too low? (5 points)
a. Yes; customers may feel quality is too low.
b. Yes; customers may feel quality is too high.
c. No; the lower the price, the greater the product’s appeal.
d. No; the lower the price, the more willing the customer is to buy
a. Yes; customers may feel quality is too low.
Sizing up a customer’s personality helps a salesperson to
a. influence the customer’s needs. c. bypass part of the selling process.
b. adjust the customer’s attitude. d. adjust the approach to fit the customer.
d. adjust the approach to fit the customer.
In which of the following businesses is the business owner usually responsible for setting prices: (5 points)
a. Walmart c. Java Joe’s Coffee Shop
b. Sears d. Macy’s
c. Java Joe’s Coffee Shop
Double Jeopardy
Which of the following is part of closing a sale:
a. Writing a follow-up letter c. Completing the necessary paperwork
b. Establishing a buyer-seller relationship d. Discovering the customer’s needs/wants
c. Completing the necessary paperwork