Entrepreneurship
Final Test Solutions
Course Introduction
Entrepreneurship explores the process of identifying opportunities, developing innovative ideas, and transforming them into viable business ventures. This course covers key concepts such as business model development, market analysis, resource acquisition, financial planning, and risk management. Students will learn to evaluate entrepreneurial opportunities, craft business plans, and understand the unique challenges faced by startups. Through case studies, project work, and interaction with successful entrepreneurs, learners gain practical skills and insights needed to launch and manage new enterprises in dynamic markets.
Recommended Textbook
ABCs of Relationship Selling through Service 12th Edition by Charles M. Futrell
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14 Chapters
2054 Verified Questions
2054 Flashcards
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Page 2
Chapter 1: The Life, times, and Career of the Professional Salesperson
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144 Verified Questions
144 Flashcards
Source URL: https://quizplus.com/quiz/72286
Sample Questions
Q1) Effective territory management would LEAST likely involve:
A)creating new customers.
B)planning activities that increase sales.
C)suggesting business opportunities to customers.
D)handling customer complaints.
E)interviewing customer employees.
Answer: E
Q2) Explain the following statement: "Selling is both an art and a science."
Answer: Selling is an art because the many skills needed to sell cannot be learned from a textbook;they must be learned through experience.Selling takes practice.Selling is also considered a science because to be successful a salesperson requires formal training and an understanding of what skills will result in success.
Q3) Many of today's salespeople are considered professionals due to their product knowledge and customer service.
A)True
B)False
Answer: True
Q4) What is the first step of the sales process?
Answer: Prospecting
3
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Chapter 2: Ethics Firstthen Customer Relationships
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142 Verified Questions
142 Flashcards
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Sample Questions
Q1) When the salesperson says to the new prospective customer,"I believe my company sells the best mattresses and that you can't find any better," it is an example of:
A)sales puffery.
B)an illegal act.
C)a statement of fact.
D)price discrimination.
E)a breach of warranty.
Answer: A
Q2) A cooling-off law:
A)gives the buyer three weeks to return merchandise.
B)covers items sold through wholesale outlets.
C)deals with purchases between $25.00 and $50.00.
D)is in effect in all states.
E)covers some door-to-door transactions.
Answer: E
Q3) A fixed point of reference must be separate from you.
A)True
B)False
Answer: True
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Page 4
Chapter 3: The Psychology of Selling: Why People Buy
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144 Verified Questions
144 Flashcards
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Sample Questions
Q1) The main benefit of using the FAB Sequence during a sales presentation is to help the salesperson remember to:
A)engage in two-way communication.
B)gather approval from the prospect.
C)perform trial closes throughout the presentation.
D)determine the underlying needs of the prospect.
E)discuss a product's benefits in a conversational manner.
Answer: E
Q2) Briefly describe the FAB selling technique.Show how a salesperson could use the FAB technique to sell a can of regular cola.
Answer: The FAB selling technique presents a product's features,advantages,and benefits to a prospect.Students' examples will vary depending on their creativity.An acceptable answer would be: Good taste is a feature.An advantage would be how it quenches thirst.A benefit could be the energy produced as a result of the consumption of sugar and caffeine in the cola.
Q3) In which step of the consumer buying decision process does a person decide what to buy?
Answer: Information evaluation
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Chapter 4: Communication for Relationship Building: Its Not
All Talk
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143 Verified Questions
143 Flashcards
Source URL: https://quizplus.com/quiz/72289
Sample Questions
Q1) Define communications in a sales context.
Q2) According to the text,why do MCI salespeople plan questions to ask during sales presentations?
A)Determine how a prospect feels about an MCI competitor
B)Request additional information about MCI products
C)Gather statistical information for MCI management
D)Provide positive feedback about MCI to buyers
E)Assess verbal and nonverbal feedback about MCI
Q3) Salespeople can establish credibility with their customers by doing all of the following EXCEPT:
A)listening to specific customer needs.
B)being continuously empathetic.
C)being enthusiastic about their work.
D)using proof statements effectively.
E)being aggressively persuasive.
Q4) When a salesperson receives disagreement signals,he should immediately stop his planned presentation and quickly adjust to the unplanned situation.
A)True
B)False
6
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Chapter 5: Sales Knowledge: Customers, products, technologies
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146 Verified Questions
146 Flashcards
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Sample Questions
Q1) Which of the following refers to a small,fully functional computer that works as an extension of a desktop or laptop computer?
A)MP3
B)POS
C)GPS
D)PDA
E)GIS
Q2) Premiums are used solely to get customers to come into the retailer's store.
A)True
B)False
Q3) Which type of advertising is aimed at individuals and organizations who purchase products used for manufacturing other products?
A)Direct-mail advertising
B)Retail advertising
C)Trade advertising
D)Industrial advertising
E)Cooperative advertising
Q4) What is the difference between trade and industrial advertising?
Q5) Distinguish between shelf positioning and shelf facings.
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Chapter 6: Prospecting : the Lifeblood of Selling
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150 Verified Questions
150 Flashcards
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Sample Questions
Q1) Norman,the owner of CompuTex,recently installed computers at Harding Industries.Norman recommended that the Harding Industries office manager contact Computer Services,Inc.to schedule a computer training class for Harding's employees.This is an example of the _____ method of prospecting.
A)observation
B)preapproach
C)endless chain
D)center of influence
E)networking
Q2) One excellent way for a salesperson to obtain an appointment with a prospect is to have a customer make the appointment for the salesperson.
A)True
B)False
Q3) What two terms are used to describe prospects before they become qualified?
Q4) Define a qualified prospect.
Q5) A salesperson must always search for new prospects to increase sales and replace previous customers.
A)True
B)False
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Chapter 7: Planning the Sales Call Is a Must
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147 Verified Questions
147 Flashcards
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Sample Questions
Q1) List four reasons why a salesperson should carefully plan his or her sales call.
Q2) Carlos sells mailing lists for a direct marketing company.He is interested in selling a mailing list to the publisher of a magazine devoted to new electronic products.Carlos learns that he cannot close the sale until meeting the publisher's circulation vice president.This sort of information would be found in the _____ that Carlos created.
A)sales call objective
B)company's marketing plan
C)competitive portfolio
D)customer profile sheet
E)business proposition
Q3) A(n)_____ has the ability to develop and combine nontraditional alternatives to meet the specific needs of the customer.
A)tactical partner
B)creative problem solver
C)low-involvement decision maker
D)transactional partner
E)exchange creator
Q4) Discuss the following statement: "Today's salespeople need to be creative problem solvers."
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Chapter 8: Carefully Select Which Sales Presentation
Method to Use
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148 Verified Questions
148 Flashcards
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Sample Questions
Q1) What are three advantages associated with using the formula sales presentation method?
Q2) At the end of a group sales presentation,the salesperson should provide prospects with a(n):
A)T-account.
B)summary of benefits.
C)order form.
D)service contract.
E)hierarchy of needs.
Q3) Prior contact with the buyer is essential in the problem-solution method.
A)True
B)False
Q4) The customer does most of the talking in the approach and presentation stages of the need- satisfaction method.
A)True
B)False
Q5) Not all styles of sales presentation require that the salesperson be prepared to negotiate.
A)True
B)False
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Chapter 9: Begin Your Presentation Strategically
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149 Verified Questions
149 Flashcards
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Sample Questions
Q1) A direct negative-no question is highly effective for creating interest with prospects.
A)True
B)False
Q2) If you walk into your prospect's office and she says,"I'm sorry,but there's no use in our talking.I am satisfied with my current suppliers.Thanks for coming by." You should use a _____ question to move the conversation from the negative ground to a more positive condition.
A)direct
B)nondirective
C)rephrasing
D)directional
E)redirect
Q3) Why would a salesperson use an opinion approach?
Q4) In the _____ approach,the salesperson gives a prospect a free sample or gift.
A)complimentary
B)premium
C)souvenir
D)customer benefit
E)gift
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Chapter 10: Elements of a Great Sales Presentation
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149 Verified Questions
149 Flashcards
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Sample Questions
Q1) _____ attempts to have prospects imagine using the product themselves.
A)Suggestive proposition
B)Prestige suggestion
C)Empathetic suggestion
D)Autosuggestion
E)Ideal-self suggestion
Q2) A(n)_____ type of suggestion implies that prospects should act immediately.
A)suggestive proposition
B)counter suggestion
C)autosuggestion
D)temporal-based suggestion
E)indirect suggestion
Q3) "Mrs.Baird's Bread is as good as my grandmother's." This statement is an example of a(n):
A)imagery.
B)metaphor.
C)simile.
D)dramatization.
E)demonstration.
Q4) How does a salesperson benefit from storytelling skills?
Page 12
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Chapter 11: Welcome Your Prospects Objections
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147 Verified Questions
147 Flashcards
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Sample Questions
Q1) Forestalling is best described as a:
A)method for dealing with customers who use money objections.
B)way to attack any type of customer objection.
C)method of discussing anticipated objections before they arise.
D)five-question sequence for dealing with customer objections.
E)form of direct denial based on proof statements.
Q2) "In addition to that,is there any other reason for not going ahead?" is the second question in the five-question sequence method for overcoming objections.
A)True
B)False
Q3) The other name for the compensation method of dealing with objections is the _____ method.
A)price
B)return-on-investment
C)trade-off
D)reciprocal
E)counterbalance
Q4) Why should salespeople welcome sales objections?
Q5) How does the text classify major and minor objections?
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Chapter 12: Closing Begins the Relationship
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149 Verified Questions
149 Flashcards
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Sample Questions
Q1) The _____ close requires the salesperson to ask the prospect a series of benefit questions.
A)assumptive
B)Ben Franklin
C)negotiation
D)continuous-yes
E)minor-points
Q2) To be successful,salespeople need to remember their ABCs.In this case,ABC is an acronym for "Adapt Benefits to Customer."
A)True
B)False
Q3) Which of the following is NOT true about closing a sale?
A)Be sure that your prospect understands what you say.
B)Tailor your close to each prospect.
C)Avoid multiple closes as it can offend the customer.
D)Learn to recognize the buying signals for making effective closes.
E)Consider the customer's point of view in everything you do and say.
Q4) How does the modified T-account close differ from the T-account close?
Q5) Discuss the differences between the minor-points close and the alternative-choice close.
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Chapter 13: Service and Follow-Up for Customer Retention
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146 Verified Questions
146 Flashcards
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Sample Questions
Q1) As a relationship grows:
A)trust increases and wisdom decreases.
B)trust decreases and wisdom increases.
C)trust and wisdom increase.
D)trust and wisdom decrease.
E)trust and wisdom remain the same.
Q2) Charles Landon sells software to large manufacturing firms.He strives to convert prospects into customers.After customers have purchased from Charles,what is the LEAST likely action he should take if he wants to ensure future sales?
A)Keeping service promises
B)Increasing account penetration
C)Contacting the account regularly
D)Asking about the prices offered by competitors
E)Providing the customer with problem-solving ideas
Q3) The most important ingredient in building a lasting friendship is perseverance. A)True B)False
Q4) One of the easiest things a salesperson can do is to care about customers. A)True
B)False
15
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Chapter 14: Time, territory, and Self-Management: Keys to Success
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150 Verified Questions
150 Flashcards
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Sample Questions
Q1) Robert is the CEO of a small firm which manufactures inverters.Company sales have been increasing,and Robert finds it increasingly difficult to manage the salespeople.The company has a sufficient number of salespeople,but they are not able to reach all current and potential customers.Robert also has difficulties in evaluating the performance of salespeople.What advice can you give Robert?
A)Robert can hire more salespeople to have better sales coverage.
B)Robert can appoint more supervisors for managing and evaluating the sales force.
C)Robert can ask the salespeople to work overtime to obtain better coverage.
D)Robert can manage the salespeople by assigning each of them to different groups of customers.
E)Robert can ask salespeople to report directly to him,and he can use the authoritative management style.
Q2) Nonselling time is a factor to be considered in territory time allocation.
A)True
B)False
Q3) Why would a company insist that its salespeople stick to strict route designs?
Q4) Why is the development of sales territories inefficient for some companies?
Q5) What is the first step in account analysis?
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