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16. Which of the following terms denotes the task of deciding which customers will get scarce products where demand outstrips supply?
Answer
Correct Answer:
Allocating
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17. Which of the following is NOT typically a reason for outsourcing sales?
Answer
Correct Answer:
Enhanced knowledge of the product
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18. Where a product is strongly "differentiated", the seller:
Answer
Correct Answer:
can demand a premium price.
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19. Which of the following would NOT be an appropriate response to the introduction of a similar product to the market by a rival company?
Answer
Correct Answer:
Request an increase in the volume of production.
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20. Which of the following is NOT an example of a sales promotion?
Answer
Correct Answer:
Offering economies of scale
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21.
Which of the following is/are a/the source/s of management information for a retailer?
i)Data recorded by cash tills
ii)Purchases made using loyalty cards
iii)Customer surveys
Answer
Correct Answer:
All of the above
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22. Which of the following is NOT an element of the "promotional mix"?
Answer
Correct Answer:
Product specification
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23. Which of the following is NOT a valid reason for a firm to implement a price reduction?
Answer
Correct Answer:
Distinct market segments
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24. If a member of a sales team is underperforming, what should the manager’s first step be?
Answer
Correct Answer:
Ask the person concerned whether there are any specific causes of this.
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25. Shopping has become a popular recreational activity. Which of the following facilities often provided in shopping malls does NOT reflect this?
Answer
Correct Answer:
Banks
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26. In a "perfect" market, the selling price for a product would:
Answer
Correct Answer:
match total production costs.
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27.
Which of the following statements is/are true?
i)A sales quote commits the supplier to a fixed price.
ii)Sales quotes are unusual in situations where the total price is difficult to predict.
Answer
Correct Answer:
Neither is true.
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28. Which of the following sales administration procedures relates to a customer purchasing an expensive item by credit card?
Answer
Correct Answer:
Credit clearance
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29. Which of the following is NOT a source of customer feedback on a product or service?
Answer
Correct Answer:
Newspaper reviews
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30.
Which of the following statements is/are true?
i)Negotiations are invariably a zero-sum game.
ii)Developing a rapport is detrimental to negotiations.
Answer
Correct Answer:
Neither is true.
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31. Which of the following items would be less suitable for sale directly over the Internet?
Answer
Correct Answer:
Cars
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32. Which of the following does not feature in Bruce Henderson’s ‘BCG Matrix’?
Answer
Correct Answer:
Dying swans
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33. Total "sales variance" is determined by adding sales ________ variance and sales _________ variance.
Answer
Correct Answer:
price , volume.
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34. Which of the following is NOT a key aspect of a sales manager’s role?
Answer
Correct Answer:
Product design
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35. In which of the following situations would the price for a product be expected to fall?
Answer
Correct Answer:
Where the supply exceeds the demand.
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36.
Which of the following statements is/are true?
i)All customers should be given the same level of customer service for a given product.
ii)Customer service is cost-neutral.
Answer
Correct Answer:
Neither is true.
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37. Which of the following is NOT a benefit of selling over the Internet?
Answer
Correct Answer:
Higher price paid by consumer.
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38.
Put the following stages of a negotiation into a chronological order:
i)Closing and commitment
ii)Preparation
iii)Bargaining
iv)Information exchange
Answer
Correct Answer:
ii, iv, iii, i
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39. Some transactions, especially property-related ones, are brokered by a ‘disclosed dual agent’. Which of the following best characterizes this role?
Answer
Correct Answer:
An agent who acts on behalf of both parties.
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40. Retailers often used automated ‘stock-management’ systems to:
Answer
Correct Answer:
ensure stock is replenished when required by monitoring sales information.
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41. Which of the following is characteristic of a monopolistic market?
Answer
Correct Answer:
There may be a high degree of government regulation.
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42.
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.
Answer
Correct Answer:
Neither is true
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43. 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?
Answer
Correct Answer:
Detail
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44. Which of the following characterizes a cold-calling approach to sales?
Answer
Correct Answer:
A high number of approaches with a low hit-rate.
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45. Which of the following is NOT a reason for this approach?
Answer
Correct Answer:
It maximizes profits from early-booking customers.
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46. What is meant by the term ‘Customer Value Proposition’?
Answer
Correct Answer:
The sum total of benefits which the customer will receive in return for his purchase.
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47.
Which of the following is NOT a method of sales forecasting?
Answer
Correct Answer:
Determination of sales territories
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48.
Which of following statements is/are true?
i)’Cross-selling’ refers to a customer-supplier relationship that covers multiple products.
ii)’Cross-selling’ tends to reduce the customer’s administrative overheads.
Answer
Correct Answer:
Both (i) and (ii) are true.
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49.
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.
Answer
Correct Answer:
Neither is true.
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50. The term ‘Sales Intelligence’ (SI) refers to:
Answer
Correct Answer:
performance data about sales.
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51.
Which of the following statements is/are true?
i)The demographics of the target market should not affect a company’s decision about whether to adopt an ‘Internet-only’ sales approach.
ii)Customer perception of the security of internet-based transactions does not affect sales volumes.
Answer
Correct Answer:
Neither is true.
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52. The term ‘positive elasticity of demand’ relates to goods:
Answer
Correct Answer:
for which a higher price can increase demand.
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53. Which of these is NOT a reason to sell via wholesalers?
Answer
Correct Answer:
Higher prices can be charged than if selling directly to consumers.
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54. The term ‘marginal cost’ refers to additional _________________ costs.
Answer
Correct Answer:
variable
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55. The term ‘Dutch auction’ is best defined as:
Answer
Correct Answer:
where the asking price descends until a bidder accepts it.
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56. Which of the following is NOT a direct benefit of introducing a loyalty card scheme?
Answer
Correct Answer:
Reduced administrative overhead.
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57. The art of creating and developing the image of a product is known as:
Answer
Correct Answer:
Brand management
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58. 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?
Answer
Correct Answer:
Catalogue
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59. Exploiting data on items examined or purchased by a customer to advertise further products to them is known as:
Answer
Correct Answer:
Customer profiling
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60.
Why do some companies introduce self-service checkouts?