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Basic Business Development MCQ

1. The question individuals ask during the norming stage of group development is _____

Storming.

Norming.

Performing.

None of these

Answer

Correct Answer: Norming.

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2. A(n) ________ server is a server that stores and manages files for network users.

Authentication

Main

Web

File

Answer

Correct Answer: File

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3. A(n) ____________________ relationship exists when two entities are associated.

Unary

Binary

Weak

Ternary

Answer

Correct Answer: Binary

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4. After the norming stage in team development, a team would most likely move on to the _____ stage.

Performing

Storming

Probing

Forming

Warming

Answer

Correct Answer: Performing

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5. A true experiment involves the _____ of the independent variable.

Manipulation

Elimination

Measurement

Correlation

Answer

Correct Answer: Manipulation

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6. When a product enters the maturity stage, the company should consider ________.

Harvesting the product

Modifying the product, market, or marketing mix

Divesting the product

Liquidating the product

Dropping the product

Answer

Correct Answer: Modifying the product, market, or marketing mix

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7. There are two types of disruptive business models ? and .

Low-end; high-end

New-product; new-market

New-market; low-end

New-channel; high-quality

Answer

Correct Answer: New-market; low-end

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8. In the short run, the firm’s network is _ while in the long run it is .

Fixed, variable

Company preference; variable

Transportation rate; fixed

All of these

Answer

Correct Answer: Fixed, variable

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9. When is an invoice sent to a customer?

When confirming an order that has just been made.

When payment is due for an item.

When the ordered item arrives.

When a replacement is provided for a faulty item.

Answer

Correct Answer: When payment is due for an item.

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10. While commencing on a sales campaign, the telecalling representative has been asked to divulge only the USP of the product his company is promoting. What would be the focus of his conversation with the prospective client?

The best features of the product

The sales figures of the product

The competition's strategy to reiterate the immense popularity of this company's product

The most valuable and unique advantage of the product

Answer

Correct Answer: The most valuable and unique advantage of the product

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11. Shopping has become a popular recreational activity. Which of the following facilities often provided in shopping malls does NOT reflect this?

Cinemas

Food outlets

Bowling alleys

Banks

Answer

Correct Answer: Banks

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12. Which of the following does not feature in Bruce Henderson's 'BCG Matrix'?

Question marks

Dying swans

Dogs

Cash cows

Stars

Answer

Correct Answer: Dying swans

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13. Some transactions, especially property-related ones, are brokered by a 'disclosed dual agent'. Which of the following best characterizes this role?

An agent who is officially registered with the relevant watchdog for the sector.

An agent who acts on behalf of both parties.

An agent who brokers multi-national transactions.

An agent who manages the transaction anonymously, so neither party knows the others identity.

Answer

Correct Answer: An agent who acts on behalf of both parties.

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14. Which of the following statements is/are true?

i)The role of marketing is to make the sales environment more favorable.
ii)Effective marketing is about reducing the price at which a product can be sold in the desired volumes.

Both (i) and (ii) are true

Only (i) is true

Only (ii) is true

Neither is true

Answer

Correct Answer: Only (i) is true

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15. Which of the following might cause a member of the sales staff's performance to be lower than his/her colleagues?

i)Lack of training.
ii)Less experience.
iii)Personal problems

None of the above

i, only

ii only

iii only

i and ii only

i and iii only

ii and iii only

All of the above

Answer

Correct Answer: All of the above

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16. A sales presentation should have _______ to be effective and successful.

a good tone

a crisp pace

Interactivity

Smooth transitions

Answer

Correct Answer: a good tone

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17. What is an IVR?

Instant Voice Recorder

Interactive Voice Response

International Voice Recorder

International Voice Rights

Answer

Correct Answer: Interactive Voice Response

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18. Which of the following are important ways to contact the decision maker in an outbound sales scenario?

Cold Calling

Product promotion campaigns

Written correspondence

A strategy combining cold calling and written correspondence

Answer

Correct Answer: A strategy combining cold calling and written correspondence

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19. What is the definition of the AIDA model?

Attract the prospect, create interest, develop a relationship, set an action from the prospect

Attract the prospect, influence, develop a relationship, extract a promise from the prospect

Attract the caller, develop an alliance, set an action by the caller

None of the above

Answer

Correct Answer: Attract the prospect, create interest, develop a relationship, set an action from the prospect

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20. The acronym 'AIDA' refers to the stages of persuading a customer to purchase a product. Which of the following words is not a part of AIDA?

Attention

Interest

Detail

Action

Answer

Correct Answer: Detail

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21. Which of the following is NOT an example of a sales promotion?

Offering economies of scale

Happy hour

Buy one get one free

Free gift

Answer

Correct Answer: Offering economies of scale

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22. Which of the following is NOT an element of the 'promotional mix'?

Advertising

Product specification

Publicity

Personal selling

Answer

Correct Answer: Product specification

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23. What does the term 'gatekeeper' mean in a sales scenario?

An Individual blocking the physical entry to a building

An Individual who opens the door for prospective customers

An Individual acting as a call screener

A tool used for blocking spam mails

Answer

Correct Answer: An Individual acting as a call screener

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24. The term 'Sales Intelligence' (SI) refers to:

monitoring the abilities of the sales team.

customers' ability to identify bargains.

performance data about sales.

choosing the best moment at which to discount products.

Answer

Correct Answer: performance data about sales.

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25. If a member of a sales team is underperforming, what should the manager's first step be?

Ask the person concerned whether there are any specific causes of this.

Request that other team members increase productivity to compensate.

Warn him/her about future performance.

Implement performance-management procedures.

Answer

Correct Answer: Ask the person concerned whether there are any specific causes of this.

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26. Which of the following is NOT a key aspect of a sales manager's role?

Staff management

Product design

Performance monitoring

Sales planning

Answer

Correct Answer: Product design

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27. A telemarketing executive, Charles, wants to sell a product from Nokia. Which of the following are the correct ways to open the call?

"Hi, this is Charles calling from Nokia. Am I speaking to Mr. (customer's name)?"

"Hello, Mr.(customer's name), this is Charles from Nokia"

"Myself Charles from Nokia"

"Charles this side from Nokia, can I talk to Mr.(customer's name)?"

Answer

Correct Answer: "Hi, this is Charles calling from Nokia. Am I speaking to Mr. (customer's name)?"

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28. What is SPH in outbound sales terminology?

Scripts per hour

Sales per hour

Sales per handling

Sales post house

Answer

Correct Answer: Sales post house

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29. Which of the following is NOT a valid reason for a firm to implement a price reduction?

Drive to dominate the market through lower costs

Distinct market segments

Declining market share

Excess plant capacity

Answer

Correct Answer: Distinct market segments

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30. Which of the following sales methods would be best suited to the customers who were unable to visit shops and wanted a broad range of products?

Catalogue

Wholesale

Retail

Door-to-door

Answer

Correct Answer: Catalogue

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31. What does EST mean in outbound sales?

Eastern Standard Type

Eastern Standard Technology

Efficient Sales Team

Eastern Standard Time

Answer

Correct Answer: Eastern Standard Time

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32. Which of these is NOT a reason to sell via wholesalers?

The manufacturer does not have to store unsold stock.

Transport costs for the manufacturer are reduced.

Wholesalers have greater sales expertise.

Higher prices can be charged than if selling directly to consumers.

Answer

Correct Answer: Higher prices can be charged than if selling directly to consumers.

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33. Which of the following is NOT typically a reason for outsourcing sales?

Access to additional markets

Expertise of dedicated sales organization

Being cheaper than creating or expanding an in-house sales team

Enhanced knowledge of the product

Answer

Correct Answer: Enhanced knowledge of the product

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34. The term 'Dutch auction' is best defined as:

where bidders provide sealed bids.

where the asking price descends until a bidder accepts it.

where bidders participate remotely by telephone.

where bidders must bid for a package of lots.

Answer

Correct Answer: where the asking price descends until a bidder accepts it.

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35. Which of the following statements is/are true?

i)Negotiations are invariably a zero-sum game.
ii)Developing a rapport is detrimental to negotiations.

Both (i) and (ii) are true.

Only (i) is true.

Only (ii) is true.

Neither is true.

Answer

Correct Answer: Neither is true.

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36. Which of the following statements is/are true?

i)Offering financial rewards for strong performance is the best way to motivate staff.
ii)Hygiene factors, such as the perception of job security, are not important in getting the job done.

Both (i) and (ii) are true.

Only (i) is true.

Only (ii) is true.

Neither is true.

Answer

Correct Answer: Neither is true.

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37. Which of the following statements is/are true?

i)A 'Theory Y' sales manager would closely monitor the team's performance.
ii)A 'paternalistic' sales manager would inform the team of changes rather than consult it.

Both (i) and (ii) are true.

Only (i) is true.

Only (ii) is true.

Neither is true.

Answer

Correct Answer: Both (i) and (ii) are true.

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38. Which of the following functions does a gatekeeper perform?

He lets the sales person contact the decision maker.

He deliberately keeps the sales person from getting to the decision maker of the company.

He schedules the appointments of the decision maker.

He holds the key to all sensitive information of the sales department.

Answer

Correct Answer: He deliberately keeps the sales person from getting to the decision maker of the company.

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39. Which of the following statements is/are true?

i)With 'Consultative selling' the emphasis is on offering tailored solutions.
ii)'Consultative selling' works best with low-cost high-volume products.

Both (i) and (ii) are true.

Only (i) is true.

Only (ii) is true.

Neither is true.

Answer

Correct Answer: Only (i) is true.

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40. Who is the decision maker in an outbound sales process?

The person who makes the final purchasing decision

The person who makes all the decisions about the products to be sold

The person whose daily work is affected by the seller's products and services

All of the above

Answer

Correct Answer: The person who makes the final purchasing decision

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41. A company's set of processes relating to handling contact with customers is known as:

Client account monitoring

Stakeholder mapping tools

Client management software

Customer relationship management

Answer

Correct Answer: Customer relationship management

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42. Which part of an outbound sales script needs to be recorded?

Fronter Script

Verification Script

Closure Script

Whole Script

Answer

Correct Answer: Verification Script

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43. What does sign-posting mean in an outbound sales scenario?

The practice of letting the customer know what format the sales conversation is going to take before starting the sales talk

The practice of letting the customers know about the benefits and unique features of the product that the telecalling executive aims at selling

The practice of building a rapport with the potential customer before commencing with the sales talk

The practice of erecting signposts to advertise the product to increase sales

Answer

Correct Answer: The practice of letting the customer know what format the sales conversation is going to take before starting the sales talk

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44. Which of the following is characteristic of a monopolistic market?

A high degree of competition between suppliers.

Low profit margins.

Customers are able to influence suppliers strongly.

There may be a high degree of government regulation.

Answer

Correct Answer: There may be a high degree of government regulation.

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45. A small independent retailer needing to stock low volumes of a broad range of products would source its stock ________.

from a larger retailer

direct from factories

from a wholesaler

through catalogues

Answer

Correct Answer: from a wholesaler

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46. Which of the following would NOT be an appropriate response to the introduction of a similar product to the market by a rival company?

Reduce the product's price.

Request more investment in marketing the product.

Request an increase in the volume of production.

Ask sales staff to emphasize the product's advantages over its rival.

Answer

Correct Answer: Request an increase in the volume of production.

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47. A product or service specifically designed to benefit its association with the success of another product is known as a:

Parasite

Stable mate

Free rider

Tie-in

Answer

Correct Answer: Tie-in

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48. A product that is sold below the cost price in order to boost sales of other products is known as a:

dead loss

loss-leader

sacrificial lamb

gambit product

Answer

Correct Answer: loss-leader

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49. Where a product is strongly 'differentiated', the seller:

should offer discounts to encourage sales.

must seek as broad a market as possible.

should only sell to customers purchasing large volumes.

can demand a premium price.

Answer

Correct Answer: can demand a premium price.

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50. Which of these statements is/are true?

i)Loyalty cards cannot be used to target certain products at particular customers.
ii)Seasonal variations should not be factored into predictions of sales volume.

Both (i) and (ii) are true

Only (i) is true

Only (ii) is true

Neither is true

Answer

Correct Answer: Neither is true

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51. Which of the following is NOT a method of sales forecasting?

Market survey method

Statistical methods

Determination of sales territories

Sales force composite method

Answer

Correct Answer: Determination of sales territories

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52. Which of the following is NOT an example of a point-of-sale promotional display?

A platform to raise a product above other ones.

A basket of products outside a shop.

A local radio advertisement.

A sign hanging from the shop ceiling.

Answer

Correct Answer: A local radio advertisement.

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53. What is the "served market"?

The portion of the market that is not looking for service

The market that is available to your firm

That portion of the market that are already clients

All of these

Answer

Correct Answer: The market that is available to your firm

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54. What is the most important trait(s) a salesperson needs to have to get business from a prospect

All are equal

Ability to have great presentation skills

Ability to become trustworthy

Ability to close

Ability to articulate the business need

Answer

Correct Answer: Ability to become trustworthy

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55. Which of the following would be an example of "demand generation"?

Defining a market

All of these

Proposal pitching

Presentations

Answer

Correct Answer: Defining a market

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56. Market Penetration Strategy is one of the Strategies underlying Cost Control. True or False

True

False

Answer

Correct Answer: False

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57. Which of the following is NOT a Salesforce membership?

Executive

Contact Manager

Enterprise

Unlimited

Answer

Correct Answer: Executive

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58. When a prospect refers the salesperson's product to their own contacts, they are referred to as _____.

Advisors

Friends

Business Relators

All of these

Apostles

Answer

Correct Answer: Apostles

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59. Which of the following is the correct process for closing a sale?

Building relationships > Analyzing needs > Presenting a solution > Offering alternatives > Closing the deal

Building relationships > Analyzing needs > Presenting a solution > Closing the deal

Analyzing needs > Building relationships > Presenting a solution > Closing the deal

Building relationships > Presenting a solution > Analyzing needs > Closing the deal

Answer

Correct Answer: Building relationships > Analyzing needs > Presenting a solution > Closing the deal

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60. After you've gathered and analyze your data, what is the next step in performing customer segmentation?

Interview customers

Validate your data

Roll out your findings

Create segments

Answer

Correct Answer: Create segments

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61. Which of the following is not a good question to ask while forming segments?

(all of these)

Can I offer different products or services to meet the needs of these different segments?

What product should I create to cater to these groups?

Are there meaningful differences between these groups?

Answer

Correct Answer: What product should I create to cater to these groups?

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62. The sales _______ is a helpful way to forecast future sales.

pipeline

market size

proposal

funnel

Answer

Correct Answer: funnel

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63. A prospect is a/an _______.

candidate for a cold call

inbound inquiry

All of these

likely buyer

Answer

Correct Answer: likely buyer

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64. _____ is a dollar measure based on the average company size, wealth, sales, and demographics of a territory.

None of these

Buying power

Market cap

Sales potential

Answer

Correct Answer: Buying power

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65. Which of the following is the ideal ratio of speaking time between a prospect and a salesperson to effectively close a deal?

90% prospect and 10% salesperson

70% prospect and 30% salesperson

50% prospect and 30% salesperson

20% prospect and 80% salesperson

10% prospect and 90% salesperson

Answer

Correct Answer: 90% prospect and 10% salesperson

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66. Which of the following types of people is the hardest to close deals with?

All of these

Relators

Thinkers

Directors

Socialites

Answer

Correct Answer: Thinkers

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67. What is one way to go about validating segments?

Talk to your customer service team about them.

Test them in real time.

It's not necessary to validate them, just roll them out.

A/B test them.

Answer

Correct Answer: Talk to your customer service team about them.

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68. What are three phases of a sales cycle?

Prospect, call, sale

Call, sell, buy

Sell, sell, sell

Growth, maturity, decline

Answer

Correct Answer: Growth, maturity, decline

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69. What is a good way to gather indirect data on customers?

Customer service employees

Site analytics

Order info

Crowdsourcing

Answer

Correct Answer: Customer service employees

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70. Which of the following is the most effective way to handle objections from a prospect?

Isolate the objection, defend, and prove the point

Ignore the objection and change the topic politely

Soften up and agree to the objection

Soften up, isolate, and rephrase the objection

Isolate the objection and answer the objection

Answer

Correct Answer: Soften up, isolate, and rephrase the objection

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71. When should a salesperson back off from a prospect?

When a prospect poses tough questions

When a prospect says they need time to think the decision over

When a prospect asks for a lower price for the product

One should never back off from a prospect as one never knows what could happen

When a prospect reveals that there are several people involved and that they will need time to decide

Answer

Correct Answer: When a prospect reveals that there are several people involved and that they will need time to decide

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72. Which of the following is NOT a common pitfall when finalizing segments?

Divergent groups

Too many segments

Groups being too different

Too narrow a focus

Answer

Correct Answer: Groups being too different

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73. Why are breakfast meetings ideal for closing deals?

The prospect will be more relaxed in the morning before going through the day

Both parties are more alert and less prone to cancellation in the morning

Restaurants are less busy in the morning and more conducive to meetings

Breakfast food is usually lighter and easy to talk over

Answer

Correct Answer: Both parties are more alert and less prone to cancellation in the morning

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74. A customer is interested in a fixed price of $2M for a service offering. The salesperson has $2.2M as his lowest price. How should he go about closing the deal?

Check with his manager for permission to provide additional discounts

None of these

Explain the price in terms of smaller chunks, such as daily or monthly installments

Provide an extra service for $200,000 in order to receive the $2.2M

Reduce the price by $50,000 and accept $2.15M

Answer

Correct Answer: Explain the price in terms of smaller chunks, such as daily or monthly installments

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75. What type of question should you ask once you've determined your customer personas?

What's on their playlist?

What is relevant to your business?

Are they decision makers?

How price sensitive are they?

Answer

Correct Answer: What is relevant to your business?

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76. In the Competitive Analysis It's Important to include:

Financial Statements

Potential Barriers to the Market

SWOT Analysis

Answer

Correct Answer: Potential Barriers to the Market

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77. Marketing Strategies can be composed of:

Poison Pill

Growth Strategy

Funding Allocations

SWOT

Answer

Correct Answer: Growth Strategy

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78. Which of the following is a good time to perform customer segmentation?

After you've identified a solid target consumer

Anytime is a good time.

When you are looking to expand into new markets.

It's never a good time to do this.

Answer

Correct Answer: When you are looking to expand into new markets.

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79. True or False: Voicemail is an effective technique in sales calls.

False

True

Answer

Correct Answer: True

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80. Sales potential is calculated by:

Number of possible accounts x Buying power

Population x Buying power

None of these

Buying Power divided by Competition

Answer

Correct Answer: Number of possible accounts x Buying power

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81. An enthusiastic lead within a larger company is generally called a/an ___________.

evangelist

inside salesman

angel

stakeholder

Answer

Correct Answer: evangelist

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82. True or False: A salesperson should close a deal by asking, "What's the next step?"

True

False

Answer

Correct Answer: False

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83. Which of the following is NOT a Salesforce report type?

Summary

Tabular

Matrix

Provisional

Answer

Correct Answer: Provisional

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84. Which of the following is an example of a Columbo Close?

"Just one more thing...i will call you again to ask you about your decision."

"Just one more thing, you will find us the best in this business"

"Just one more thing...you will gain more revenue from us in business"

"Just one more thing..." and tell them the price

"Just one more thing..." and ask a question when the prospect's guard is down

Answer

Correct Answer: "Just one more thing..." and ask a question when the prospect's guard is down

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85. After you've launched, when is a good time to perform customer segmentation?

After 1 month.

After 3 months.

When you have 6-12 months of data.

Anytime.

Answer

Correct Answer: When you have 6-12 months of data.

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86. How long is the typical B2B selling cycle?

2-4 weeks

1-3 months

1-2 years

6-12 months

Answer

Correct Answer: 6-12 months

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87. Dividing Expenses by sales gives you the ____%.

Commission

Sharpe

Sales for Expenses

Metric

Answer

Correct Answer: Sales for Expenses

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88. After you've gathered data, what is the second step in customer segmentation?

Interview consumers

Create segments

Analysis

Validate those segments

Answer

Correct Answer: Analysis

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89. Many deals are lost due to the perception that the vending organization does not understand the needs of the client organization. What percentage of potential clients think that way?

About 60%

About 10%

About 20%

About 40%

Answer

Correct Answer: About 60%

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90. What is one way to gather primary data?

Site analytics

Customer service

Interviews

Order info

Answer

Correct Answer: Interviews

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91. Which of the following functions generally does NOT fall under business development?

Sales

Production

Marketing

R&D

Answer

Correct Answer: IT

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92. ________ in one territory may cause you to lose sales in other territories.

Cross selling

Overselling

Underselling

Upselling

Answer

Correct Answer: Overselling

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93. In general, business development is another name for traditional sales.

False

Correct

Answer

Correct Answer: False

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94. What is customer segmentation?

A way to sell multiple products which will appeal to a particular customer's varied interests.

A means of identifying and organizing current and future customers.

Segmenting a customer into smaller pieces.

A customer loyalty plan based on customer demographics.

Answer

Correct Answer: A means of identifying and organizing current and future customers.

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95. When is a good time to roll out your segments?

After you've validated them

3-6 months after initial research

Right after you create the segments

Once you've gathered all of your data

Answer

Correct Answer: After you've validated them

Note: This Question is unanswered, help us to find answer for this one

96. True or false? Total closed deals is always the best measure of performance.

TRUE

False

Answer

Correct Answer: False

Note: This Question is unanswered, help us to find answer for this one

97. Which of the following is NOT a benefit of customer segmentation?

Increased customer retention

It allows for one easy strategy

Identifies new market opportunities

Prioritizes where to invest resources

Answer

Correct Answer: It allows for one easy strategy

Note: This Question is unanswered, help us to find answer for this one

98. Segmenting your sales team to correspond with prospect locations is an example of _________.

upselling

All of these

territory design

prospecting

Answer

Correct Answer: territory design

Note: This Question is unanswered, help us to find answer for this one

99. Why are breakfast meetings effective?

Prospects make an uncommon investment of time during breakfast

Prospects know a breakfast meeting is for a definite action

The menu is simple and likely not to distract either party from the business at hand

All of these

The prospect is fresh

Answer

Correct Answer: All of these

Note: This Question is unanswered, help us to find answer for this one

100. True or False: allowing time to accumulate between touches (ie. voicemails, emails, etc) will always "kill" a deal.

True - The more time between touches, the more you become less of a priority.

False - Properly timed delays show both respect and persistence.

Answer

Correct Answer: False - Properly timed delays show both respect and persistence.

Note: This Question is unanswered, help us to find answer for this one

101. Which of the following is an example of a compelling elevator pitch?

"I am a sales executive who advises customers on what they need to be doing."

All of these

"I serve customers and stakeholders in IT, uncover their business problems, prioritize and resolve them, and deliver effective solutions through collaboration and teamwork, thereby increasing revenues and satisfaction."

"I am a sales manager managing a $1 million business."

"I am a sales executive specializing in serving customers in IT."

Answer

Correct Answer: "I serve customers and stakeholders in IT, uncover their business problems, prioritize and resolve them, and deliver effective solutions through collaboration and teamwork, thereby increasing revenues and satisfaction."

Note: This Question is unanswered, help us to find answer for this one

102. Which of the following is NOT part of the SMART sales framework?

Sellable

Measurable

Attainable

Realistic

Answer

Correct Answer: Sellable

Note: This Question is unanswered, help us to find answer for this one

103. Which of the following is NOT an important question to answer concerning a product's distinguishing characteristics?

What are the demographics of the group and where are they located?

How is the cost structure impacted by the current Inventory Management?

Are there any seasonal or cyclical purchasing trends that may impact your business?

What are the critical needs of your potential customers?

Answer

Correct Answer: How is the cost structure impacted by the current Inventory Management?

Note: This Question is unanswered, help us to find answer for this one

104. What is the definition of selling in a business development sense?

Having a stock of something or a product available for sale

Giving or handing over something in exchange for money

None of these

Persuading or inducing someone to buy something

Selling is done when a deal is signed, executed and delivered to the customer to his satisfaction.

Answer

Correct Answer: Selling is done when a deal is signed, executed and delivered to the customer to his satisfaction.

Note: This Question is unanswered, help us to find answer for this one

105. NPV takes into account all but:

Cash Flows

Time

Risk

All of the above

Answer

Correct Answer: All of the above

Note: This Question is unanswered, help us to find answer for this one

106. NPV and ROI agree except when:

Projects with multiple non-continuous profitable years, will not be calculated correctly

Interest Rates are high

Projects last for extended periods

Answer

Correct Answer: Projects with multiple non-continuous profitable years, will not be calculated correctly

Note: This Question is unanswered, help us to find answer for this one

107. One common method for selecting prices is using discriminatory pricing strategies. This means:

Comparing to market norms and adding/subtracting premium based on perceived quality

Estimating price consumers wish to pay

Attempting to provide different prices (discounts, coupons) to different groups of people (Ladies Night, Sr Citizens)

Answer

Correct Answer: Attempting to provide different prices (discounts, coupons) to different groups of people (Ladies Night, Sr Citizens)

Note: This Question is unanswered, help us to find answer for this one

108. Gathering data on consumers during marketing campaigns is important because:

Need to track impact of campaign

Need to understand competitors more effectively

Want to verify profitability

Answer

Correct Answer: Need to track impact of campaign

Note: This Question is unanswered, help us to find answer for this one

109. ______ is the process of acquiring information to ensure that clients will benefit from a product .

Prospecting

Correlating

Pre-Purchase

None of these

Answer

Correct Answer: Prospecting

Note: This Question is unanswered, help us to find answer for this one

110. True or False? Business development units have a monopoly on new business opportunities.

True

False

Answer

Correct Answer: False

Note: This Question is unanswered, help us to find answer for this one

111. Selling someone a complimentary good along with a primary good, is an example of ________.

down selling

cross selling

over selling

(none of these)

Answer

Correct Answer: cross selling

Note: This Question is unanswered, help us to find answer for this one

112. Which of the following should segmentation impact?

Customer Service

Hiring

Branding

Every facet of business.

Answer

Correct Answer: Every facet of business.

Note: This Question is unanswered, help us to find answer for this one

113. What is the most popular CRM in the US?

SugarCRM

Salesforce

Google Analytics

Adwords

Answer

Correct Answer: Salesforce

Note: This Question is unanswered, help us to find answer for this one

114. Which of the following is a common email syntax?

Last name + Middle Name + First Name@domain.com

first initial + last name@domain.com

first name + domain@domain.com

None of these

Answer

Correct Answer: first initial + last name@domain.com

Note: This Question is unanswered, help us to find answer for this one

115. True or false? Salesmen are generally not protective of their territory and enjoy the opportunity to move to new locations.

True

False

Answer

Correct Answer: False

Note: This Question is unanswered, help us to find answer for this one

116. Which of the following traits distinguishes an excellent salesperson from a good sales person?

The ability to hold a conversation

The ability to answer objections

Any of these

Tenacity

Demeanor

Answer

Correct Answer: Any of these

Note: This Question is unanswered, help us to find answer for this one

117. When a prospect raises objections in a sale, a salesperson should...

Ignore the objection and point to the other positive points

Explain that the objections have no basis

Mention that objection is valid and that they will answer at a later date

Defend the point of view against objection

Expect them and be prepared to answer

Answer

Correct Answer: Expect them and be prepared to answer

Note: This Question is unanswered, help us to find answer for this one

118. What is the definition of the common business development term "pipeline"?

The flow of potential clients which a company has started developing

The company's plumbing

None of these

The amount of potential prospects which a company has not made contact with yet

Answer

Correct Answer: The flow of potential clients which a company has started developing

Note: This Question is unanswered, help us to find answer for this one

119. Which of the following should be avoided when setting up a breakfast meeting with a prospect?

Setting the meeting in a restaurant with a quiet ambience

Setting the meeting where there are only a few items on the menu to choose from

Setting the meeting in a popular and noisy restaurant

Setting the meeting in the prospects hotel in which he is staying

Setting the meeting on the route which the prospect takes to his office

Answer

Correct Answer: Setting the meeting in a popular and noisy restaurant

Note: This Question is unanswered, help us to find answer for this one

120. SEO is a common internet term meaning?

Staff Enabled Options

Search Easy Online

Search Engine Optimization

Answer

Correct Answer: Search Engine Optimization

Note: This Question is unanswered, help us to find answer for this one

121. Long term relationships are important to business development.

True

False

Answer

Correct Answer: True

Note: This Question is unanswered, help us to find answer for this one

122. International sales can be hampered by:

All of the above

Regulatory Issues

Cultural Differences

Language Barriers

Answer

Correct Answer: All of the above

Note: This Question is unanswered, help us to find answer for this one

123. True or False? Business development involves creating relationships of long term value.

False

True

Answer

Correct Answer: True

Note: This Question is unanswered, help us to find answer for this one

124. Which of the following does Sales Management Information include?

All of these

Top performing salespeople/channels

Sales of products and services

Reasons for wins/losses

Answer

Correct Answer: All of these

Note: This Question is unanswered, help us to find answer for this one

125. B2B stands for business to business, True or False

False

True

Answer

Correct Answer: True

Note: This Question is unanswered, help us to find answer for this one

126. Which of the following parties does a business have to manage relationships with?

Partners

Employees

Customers

All of these

The press

Answer

Correct Answer: All of these

Note: This Question is unanswered, help us to find answer for this one

127. True or Fales: An Organization Chart is a diagram that shows the structure of an organization and the relationships and relative ranks of its parts and positions/jobs.:

False

True

Answer

Correct Answer: True

Note: This Question is unanswered, help us to find answer for this one

128. Business development is the creation of long-term value for an organization from customers, markets, and relationships.

False

True

Answer

Correct Answer: True

Note: This Question is unanswered, help us to find answer for this one

129. Which of the following provides value to a business?

All of these

Capital

Real Estate

People

Answer

Correct Answer: All of these

Note: This Question is unanswered, help us to find answer for this one

130. Underservicing a territory will hurt sales because ________.

Both of these

fewer leads will be pursued

prospects will receive less attention

Answer

Correct Answer: Both of these

Note: This Question is unanswered, help us to find answer for this one

131. For which of the following reasons is cold calling generally discouraged?

Cold callers dont know for sure if they are talking to the prospect

The prospect is generally unprepared for an interruption

The prospect may not have a need for a solution or a problem

All of these

Answer

Correct Answer: All of these

Note: This Question is unanswered, help us to find answer for this one

132. True or False: Start up companies are almost always succesful in the first few years.

False

True

Answer

Correct Answer: False

Note: This Question is unanswered, help us to find answer for this one

133. Which of the following qualities would help close the most deals?

The ability to smooth talk with a prospect

A knowledge of which features bring maximum benefit to his employer

A knowledge of how the product can help the customer and a genuine belief in the product.

None of these

A high energy level

Answer

Correct Answer: A knowledge of how the product can help the customer and a genuine belief in the product.

Note: This Question is unanswered, help us to find answer for this one

134. True or False: Narrowing the target for potential clients helps because it: Concentrates sales efforts to a selective group that is most likely to be most profitable

True

False

Answer

Correct Answer: True

Note: This Question is unanswered, help us to find answer for this one

135. PPC is a common term for internet companies meaning:

Person to Person Chatting

Pay Per Click

Power, Perception and Challenge

Answer

Correct Answer: Pay Per Click

Note: This Question is unanswered, help us to find answer for this one

136. Most Companies Business Models are:

Anti-Cyclical

Cyclical

Answer

Correct Answer: Cyclical

Note: This Question is unanswered, help us to find answer for this one

137. True or false? Maintaining a relationship with a customer after a sale is worthless.

False

TRUE

Answer

Correct Answer: False

Note: This Question is unanswered, help us to find answer for this one

138. Business development combines which two of the following business functions?

Finance and Sales

IT and sales

Marketing and IT

Marketing and sales

Finance and Marketing

Answer

Correct Answer: Marketing and sales

Note: This Question is unanswered, help us to find answer for this one

139. What determines the types of data to leverage?

Demographics are always relevant.

Gender is almost always relevant.

It depends on what is relevant and what is available.

Age is usually a pretty solid indicator of segments.

Answer

Correct Answer: It depends on what is relevant and what is available.

Note: This Question is unanswered, help us to find answer for this one

140. Which of the following techniques will be most likely to generate a response from a voicemail?

Leaving a voicemail with a reference, an introduction, the way you can solve a business problem, and leaving off with your contact information

Leaving a voicemail on a Sunday

Leaving a voice mail on a weekday after hours

Leaving a voice mail with little detail except for explaining that you would like them to contact you and leaving your information

Answer

Correct Answer: Leaving a voicemail with a reference, an introduction, the way you can solve a business problem, and leaving off with your contact information

Note: This Question is unanswered, help us to find answer for this one

141. True or False The definition of a product life cycle is: the time and maturation of a product between it's initial introduction to the market and eventual removal.

True

False

Answer

Correct Answer: True

Note: This Question is unanswered, help us to find answer for this one

142. Identifying how to communicate with customers is a __________ strategy:

Market Penetration Strategy

Communications Strategy

Distribution Strategy

Answer

Correct Answer: Communications Strategy

Note: This Question is unanswered, help us to find answer for this one

143. Which of the following is a concern caused by a incentive based compensation plan?

Complicated scenarios involving team sales

Timing of compensation can become complicated

All of these are potential issues

Answer

Correct Answer: All of these are potential issues

Note: This Question is unanswered, help us to find answer for this one

144. What is the best way to service a last minute, highly critical request from a prospective client in an area in which you don't have the expertise?

Politely excuse yourself while sympathising with the problem

Stay on, ask questions, confer with people to ask for help, and coordinate to deliver the service until the issue is resolved

Tell your boss and ask him to handle this

Refer them to the competition

Tell the client that it is not your area and give the numbers of the person to be contacted

Answer

Correct Answer: Stay on, ask questions, confer with people to ask for help, and coordinate to deliver the service until the issue is resolved

Note: This Question is unanswered, help us to find answer for this one

145. One of the foundational aspects of business development, is to assess the current assets of the company as they relate to the maintenance and expansion of the business.

True

False

Answer

Correct Answer: True

Note: This Question is unanswered, help us to find answer for this one

146. What is the purpose of an elevator pitch ?

It is a common need which is required for all salespeople

To tell the company's mission statement

It is a pitch to demonstrate one's social stature

To effectively communicate the value of the company in a succinct manner

Answer

Correct Answer: To effectively communicate the value of the company in a succinct manner

Note: This Question is unanswered, help us to find answer for this one

147. What is a cold call?

A fake phone number

A call made without an introduction or appointment

A call that does not lead to a sale

A call that leads to a negative reaction

Answer

Correct Answer: A call made without an introduction or appointment

Note: This Question is unanswered, help us to find answer for this one

148. Which of the following is NOT a method of customer segmentation?

Geographic

Behavioral

Religion

Demographic

Answer

Correct Answer: Religion

Note: This Question is unanswered, help us to find answer for this one

149. Which of the following is a good listening technique during a meetings with a prospect?

Taking notes

Asking questions when there is a pause

All of these

Letting customer speak on and on without interruption

Answer

Correct Answer: All of these

Note: This Question is unanswered, help us to find answer for this one

150. True of False: Vertical Integration means to integrate companies that are suppliers, distributors, or clients of the current products and services.

True

False

Answer

Correct Answer: True

Note: This Question is unanswered, help us to find answer for this one

151. Generally the purpose of a pre-purchase meeting is to ________.

close a deal

explain product features, problem solve, and schedule another meeting.

figure out delivery and other logistics

None of these

Answer

Correct Answer: explain product features, problem solve, and schedule another meeting.

Note: This Question is unanswered, help us to find answer for this one

152. Answering which of the following questions does NOT help in understanding a niche?

How will the Board of Directors help implement capital controls?

What are potential opportunities for the business?

Which areas are being ignored by competitors?

Which areas are competitors already well-established?

Answer

Correct Answer: How will the Board of Directors help implement capital controls?

Note: This Question is unanswered, help us to find answer for this one

153. What is the first step in customer segmentation?

Gathering data.

Creating segments

Validation

Analysis

Answer

Correct Answer: Gathering data.

Note: This Question is unanswered, help us to find answer for this one

154. A _____ lead is expected to be responsive.

cold

warm

Answer

Correct Answer: warm

Note: This Question is unanswered, help us to find answer for this one

155. In a company that has not launched yet, when should you look into customer segmentation?

When you have identified a consumer base.

3 months pre-launch

Right before launch.

You shouldn't.

Answer

Correct Answer: When you have identified a consumer base.

Note: This Question is unanswered, help us to find answer for this one

156. True or false? As long as a salesman closes, it doesn't matter how much product customization they commit to.

TRUE

False

Answer

Correct Answer: False

Note: This Question is unanswered, help us to find answer for this one

157. In what way should a salesperson handle a situation where an angry customer calls to report the poor service he received?

Listen to the customer and state that he is sorry and he will give 10 minutes of undivided attention to him

Listen to customer patiently and take notes to understand the gravity of the problem, then apologize

Immediately connect the customer with the person that can fix their problem

Listen to the customer and apologize when he pauses

Answer

Correct Answer: Listen to customer patiently and take notes to understand the gravity of the problem, then apologize

Note: This Question is unanswered, help us to find answer for this one

158. Which of the following is NOT good data to leverage?

Their values

Their purchasing habits

Their personality traits

Their number of siblings

Answer

Correct Answer: Their number of siblings

Note: This Question is unanswered, help us to find answer for this one

159. What is the best way to leave a compelling voicemail for a prospect?

Mention your number first and go ahead with your reference

Speak with confidence about your track record to impress the client

Mention that a contact with whom the prospect has done business with has referred you for a business need

Mention that you are the best sales person to address his business need

Answer

Correct Answer: Mention that a contact with whom the prospect has done business with has referred you for a business need

Note: This Question is unanswered, help us to find answer for this one

160. As a part of go-to-market plan you must figure out the proper sales _________.

None of these

customer management

processes

channels

Answer

Correct Answer: channels

Note: This Question is unanswered, help us to find answer for this one

161. ________ can motivate a client to close on a deal because there is limited access to the resource.

Elitism

Ubiquity

Scarcity

Automated emails

Answer

Correct Answer: Scarcity

Note: This Question is unanswered, help us to find answer for this one

162. A company interested in horizontal growth opportunities is looking to:

Buy up competitors

Lower Prices to Increase Sales

Increase market share in the current markets.

Answer

Correct Answer: Increase market share in the current markets.

Note: This Question is unanswered, help us to find answer for this one

163. What should you do once you've organized your data in Excel?

Look at it

Create a list of all possible segments using the data.

Share it with your team

Use it to find meaningful trends among customers

Answer

Correct Answer: Use it to find meaningful trends among customers

Note: This Question is unanswered, help us to find answer for this one

164. Measuring a project through a Pay Back Period metric often ignores:

Riskiness

Cash Flows

Time

Answer

Correct Answer: Riskiness

Note: This Question is unanswered, help us to find answer for this one

165. Conversion ratios are important to monitor because they:

Are a metric for efficiency

Are a metric for profitability

Are a metric for inventory utilization

Answer

Correct Answer: Are a metric for efficiency

Note: This Question is unanswered, help us to find answer for this one

166. Business development is often viewed as bridging the gap of obstacles between:

Business goals and new services

Project management and business goals

Product development and sales

Business goals and sales

Answer

Correct Answer: Business goals and sales

Note: This Question is unanswered, help us to find answer for this one

167. ROI is a typical measure of return. One of its flaws is:

It often agrees with NPV

Projects with multiple non-continuous profitable years, will not be calculated correctly

It's a single measure

Answer

Correct Answer: Projects with multiple non-continuous profitable years, will not be calculated correctly

Note: This Question is unanswered, help us to find answer for this one

168. True or False: When targeting companies to partner with, one should contact any organization in the target industry.

True

False

Answer

Correct Answer: False

Note: This Question is unanswered, help us to find answer for this one

169. Which of the following is the most common mistake made by salespeople when speaking to prospects?

Making claims about business growth

Talking too much and not listening to the prospect enough

Focusing too much on the business problem

Making longwinded points

Answer

Correct Answer: Talking too much and not listening to the prospect enough

Note: This Question is unanswered, help us to find answer for this one

Business Development MCQs | Topic-wise

MCQ on Principles Of Retailing

General Business Development MCQs

Business Development Subjects

Principles Of Retailing MCQs

More Resources

Business Development MCQ

Business Development Skill Assessment

Business Development PDF

Related MCQs

Business Economics MCQs

Business Environment MCQs

Business Law MCQs

Business Management MCQs

Business Marketing MCQs

Basic Business Development MCQ

1. The question individuals ask during the norming stage of group development is _____

2. A(n) ________ server is a server that stores and manages files for network users.

3. A(n) ____________________ relationship exists when two entities are associated.

4. After the norming stage in team development, a team would most likely move on to the _____ stage.

5. A true experiment involves the _____ of the independent variable.

6. When a product enters the maturity stage, the company should consider ________.

7. There are two types of disruptive business models ? ________ and ________.

8. In the short run, the firm’s network is _________ while in the long run it is ________.

9. When is an invoice sent to a customer?

10. While commencing on a sales campaign, the telecalling representative has been asked to divulge only the USP of the product his company is promoting. What would be the focus of his conversation with the prospective client?

11. Shopping has become a popular recreational activity. Which of the following facilities often provided in shopping malls does NOT reflect this?

12. Which of the following does not feature in Bruce Henderson's 'BCG Matrix'?

13. Some transactions, especially property-related ones, are brokered by a 'disclosed dual agent'. Which of the following best characterizes this role?

14. Which of the following statements is/are true? i)The role of marketing is to make the sales environment more favorable. ii)Effective marketing is about reducing the price at which a product can be sold in the desired volumes.

15. Which of the following might cause a member of the sales staff's performance to be lower than his/her colleagues? i)Lack of training. ii)Less experience. iii)Personal problems

16. A sales presentation should have _______ to be effective and successful.

17. What is an IVR?

18. Which of the following are important ways to contact the decision maker in an outbound sales scenario?

19. What is the definition of the AIDA model?

20. The acronym 'AIDA' refers to the stages of persuading a customer to purchase a product. Which of the following words is not a part of AIDA?

21. Which of the following is NOT an example of a sales promotion?

22. Which of the following is NOT an element of the 'promotional mix'?

23. What does the term 'gatekeeper' mean in a sales scenario?

24. The term 'Sales Intelligence' (SI) refers to:

25. If a member of a sales team is underperforming, what should the manager's first step be?

26. Which of the following is NOT a key aspect of a sales manager's role?

27. A telemarketing executive, Charles, wants to sell a product from Nokia. Which of the following are the correct ways to open the call?

28. What is SPH in outbound sales terminology?

29. Which of the following is NOT a valid reason for a firm to implement a price reduction?

30. Which of the following sales methods would be best suited to the customers who were unable to visit shops and wanted a broad range of products?

31. What does EST mean in outbound sales?

32. Which of these is NOT a reason to sell via wholesalers?

33. Which of the following is NOT typically a reason for outsourcing sales?

34. The term 'Dutch auction' is best defined as:

35. Which of the following statements is/are true?i)Negotiations are invariably a zero-sum game.ii)Developing a rapport is detrimental to negotiations.

36. Which of the following statements is/are true? i)Offering financial rewards for strong performance is the best way to motivate staff. ii)Hygiene factors, such as the perception of job security, are not important in getting the job done.

37. Which of the following statements is/are true?i)A 'Theory Y' sales manager would closely monitor the team's performance.ii)A 'paternalistic' sales manager would inform the team of changes rather than consult it.

38. Which of the following functions does a gatekeeper perform?

39. Which of the following statements is/are true?i)With 'Consultative selling' the emphasis is on offering tailored solutions.ii)'Consultative selling' works best with low-cost high-volume products.

40. Who is the decision maker in an outbound sales process?

41. A company's set of processes relating to handling contact with customers is known as:

42. Which part of an outbound sales script needs to be recorded?

43. What does sign-posting mean in an outbound sales scenario?

44. Which of the following is characteristic of a monopolistic market?

45. A small independent retailer needing to stock low volumes of a broad range of products would source its stock ________.

46. Which of the following would NOT be an appropriate response to the introduction of a similar product to the market by a rival company?

47. A product or service specifically designed to benefit its association with the success of another product is known as a:

48. A product that is sold below the cost price in order to boost sales of other products is known as a:

49. Where a product is strongly 'differentiated', the seller:

50. Which of these statements is/are true? i)Loyalty cards cannot be used to target certain products at particular customers. ii)Seasonal variations should not be factored into predictions of sales volume.

51. Which of the following is NOT a method of sales forecasting?

52. Which of the following is NOT an example of a point-of-sale promotional display?

53. What is the "served market"?

54. What is the most important trait(s) a salesperson needs to have to get business from a prospect

55. Which of the following would be an example of "demand generation"?

56. Market Penetration Strategy is one of the Strategies underlying Cost Control. True or False

57. Which of the following is NOT a Salesforce membership?

58. When a prospect refers the salesperson's product to their own contacts, they are referred to as _____.

59. Which of the following is the correct process for closing a sale?

60. After you've gathered and analyze your data, what is the next step in performing customer segmentation?

61. Which of the following is not a good question to ask while forming segments?

62. The sales _______ is a helpful way to forecast future sales.

63. A prospect is a/an _______.

64. _____ is a dollar measure based on the average company size, wealth, sales, and demographics of a territory.

65. Which of the following is the ideal ratio of speaking time between a prospect and a salesperson to effectively close a deal?

66. Which of the following types of people is the hardest to close deals with?

67. What is one way to go about validating segments?

68. What are three phases of a sales cycle?

69. What is a good way to gather indirect data on customers?

70. Which of the following is the most effective way to handle objections from a prospect?

71. When should a salesperson back off from a prospect?

72. Which of the following is NOT a common pitfall when finalizing segments?

73. Why are breakfast meetings ideal for closing deals?

74. A customer is interested in a fixed price of $2M for a service offering. The salesperson has $2.2M as his lowest price. How should he go about closing the deal?

75. What type of question should you ask once you've determined your customer personas?

76. In the Competitive Analysis It's Important to include:

77. Marketing Strategies can be composed of:

78. Which of the following is a good time to perform customer segmentation?

79. True or False: Voicemail is an effective technique in sales calls.

7. There are two types of disruptive business models ? and .

8. In the short run, the firm’s network is _ while in the long run it is .

14. Which of the following statements is/are true?

i)The role of marketing is to make the sales environment more favorable.
ii)Effective marketing is about reducing the price at which a product can be sold in the desired volumes.

15. Which of the following might cause a member of the sales staff's performance to be lower than his/her colleagues?

i)Lack of training.
ii)Less experience.
iii)Personal problems

35. Which of the following statements is/are true?

i)Negotiations are invariably a zero-sum game.
ii)Developing a rapport is detrimental to negotiations.

36. Which of the following statements is/are true?

i)Offering financial rewards for strong performance is the best way to motivate staff.
ii)Hygiene factors, such as the perception of job security, are not important in getting the job done.

37. Which of the following statements is/are true?

i)A 'Theory Y' sales manager would closely monitor the team's performance.
ii)A 'paternalistic' sales manager would inform the team of changes rather than consult it.

39. Which of the following statements is/are true?

i)With 'Consultative selling' the emphasis is on offering tailored solutions.
ii)'Consultative selling' works best with low-cost high-volume products.

50. Which of these statements is/are true?

i)Loyalty cards cannot be used to target certain products at particular customers.
ii)Seasonal variations should not be factored into predictions of sales volume.