Marketing Fundamentals Test
Bank
Course Introduction
Marketing Fundamentals introduces students to the core concepts, strategies, and tools used in modern marketing. The course covers essential topics such as market segmentation, consumer behavior, product development, pricing strategies, distribution channels, and promotion tactics. Students will learn how organizations identify customer needs, create value, and build strong relationships in competitive environments. Through case studies and real-world examples, the course emphasizes the importance of ethical decision-making and the impact of digital technologies on marketing practices. By the end of the course, students will understand how marketers develop and implement plans that drive organizational success.
Recommended Textbook
Selling Today Partnering to Create Value Global 13th Edition by Barry Reece
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17 Chapters
1139 Verified Questions
1139 Flashcards
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Chapter 1: Relationship Selling Opportunities in the Information Economy
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Sample Questions
Q1) Salespeople are most likely considered knowledge workers because they:
A)position and lay out information in a way that helps buyers understand it
B)gain knowledge of the product before they can sell it
C)repeat a script that they are given by their managers
D)develop an understanding of the best practices of sales
E)create products themselves before they sell them
Answer: A
Q2) Sanchez's success is due largely to the fact that:
A)he was born with the personality of a successful salesperson and capitalized on that
B)he understood the key factors involved in becoming an excellent salesperson and worked to develop skills to support those factors
C)he has unlimited energy and makes more cold calls than any other salesperson at his level in the company
D)he knows how to persuade prospects to buy the products he is selling
E)men tend to be more successful at selling industrial products than women do
Answer: B
Q3) ________ income helps satisfy our need for recognition and security.
Answer: Psychic
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Chapter 2: Evolution of Selling Models That Compliment the Marketing Concept
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Sample Questions
Q1) A company that ignores the marketing concept will not have any negative effects. A)True
B)False
Answer: False
Q2) Maintaining high ethical standards:
A)can strengthen your relationship with a customer
B)should be secondary to closing a sale
C)is rare in the world of sales
D)will lead to lost revenue for a company
E)often puts you in conflict with your customers
Answer: A
Q3) The goal of strategic selling alliances is to achieve a marketplace advantage by teaming up with another company whose products fit well with your own.
A)True
B)False
Answer: True
Q4) Peter Drucker stated that "the ________ defines the business."
Answer: customer
Q5) List the four parts of the marketing mix.
Answer: Price,product,place,and promotion.
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Chapter 3: Ethics: the Foundation for Partnering
Relationships That Create Value
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Sample Questions
Q1) Edward,a pharmaceutical sales representative,tends to focus primarily on highlighting product features and making quick sales when interacting with customers.Sometimes,Edward misleads customers about the benefits and side effects of certain medications.Edward's sales manager has noticed that Edward's customer retention rate is very low and is concerned about Edward's personal code of ethics.What is the best advice that the sales manager could give to Edward?
A)View personal selling as transactional.
B)Develop strategic alliances for profitability.
C)Focus on tasks first and relationships second.
D)Build customer relationships based on honesty.
E)Behaviors are the foundation for values and attitudes.
Answer: D
Q2) If you are not breaking the law,then you are acting in an ethical manner.
A)True
B)False
Answer: False
Q3) Ethical standards tend to filter down from the top of a business organization.
A)True
B)False
Answer: True
Page 5
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Chapter 4: Creating Value With a Relationship Strategy
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Sample Questions
Q1) A sales rep from AdVance spends several months with the buyer for a company that owns a dozen farms understanding the buyer's needs,and puts together a proposal for several fertilizers produced for the company's specific needs.When the sale is about to close,the buyer decides to purchase a cheaper,pre-made,standardized formula from another supplier.What is the most likely explanation of the outcome of the interaction?
A)The salesperson saw the sale as a partnering relationship while the buyer saw it as a transactional sale.
B)The salesperson saw the sale as a transactional relationship while the buyer saw it as a partnering sale.
C)The salesperson and buyer did not get along personally,so the buyer did not buy from the salesperson on principle.
D)The salesperson did not understand the buyer's needs and proposed fertilizer formulas that weren't exactly right for the buyer.
E)The buyer never intended to purchase from AdVance.
Q2) Win-win selling means that a salesperson sacrifices price to gain the sale.
A)True B)False
Q3) A(n)________ is usually the only physical contact one makes during a sales call.
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Chapter 5: Communication Styles: A Key to Adaptive Selling
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Sample Questions
Q1) In a selling situation,the reflective customer wants plenty of facts presented as rapidly as possible.
A)True
B)False
Q2) If you have a preferred communication style,you will most likely:
A)use that style exclusively
B)change that style as you grow older
C)display other communication styles at times
D)be unable to understand people with other styles
E)need to maintain that habitual style in all contexts
Q3) Style flexing is the deliberate attempt to accommodate the needs of your customer. A)True
B)False
Q4) Adapting to the customer's preferred communication style can enhance sales performance.
A)True
B)False
Q5) ________ can be defined as the tendency to control or prevail over others.
Q6) Describe the difference between lower dominance and higher dominance.
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Chapter 6: Creating Product Solutions
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Sample Questions
Q1) Throughout the sales presentation,it is usually best to:
A)describe the weakness of competing products frequently
B)discuss competing products even if you are unfamiliar with them
C)avoid shifting attention away from your product to competing products
D)refuse to answer any questions about competing products
E)be proactive about discussing competing products
Q2) The primary benefit of providing online product information to salespeople is that the information:
A)allows software integration
B)builds customer relationships
C)highlights product benefits
D)can be accessed at any time
E)can be redesigned easily
Q3) Which of the following is most likely true of sales letters?
A)Sales letters should use the same format as an email.
B)Sales letters should minimize the use of white space.
C)Most sales letters include not more than two paragraphs.
D)Because a sales letter is an introduction,formal language is unnecessary.
E)The use of the personal pronoun "I" should be minimized as much as possible.
Q4) The product selection process is often referred to as ________.
Page 8
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Chapter 7: Product-Selling Strategies That Add Value
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Sample Questions
Q1) Money that a bank has available for customer loans would be an example of a(n):
A)value-added product
B)expected product
C)generic product
D)potential product
E)customer product
Q2) The authors of The Discipline of Market Leaders encourage business firms to pick one of the disciplines - best price,best product,or best ________ to distinguish their offering in the marketplace.
Q3) Creating a value proposition is a way of:
A)choosing prices for products
B)scaling prices to different markets
C)positioning your product in the marketplace
D)keeping your product on the same level as others in the market
E)choosing sales objectives that align with the firm's long-term goals
Q4) Salespeople have assumed an important and expanding role in differentiating products.
A)True
B)False
Q5) The ________ product refers to what may remain to be done or what is possible.
Page 9
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Chapter 8: The Buying Process and Buyer Behavior
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Sample Questions
Q1) A purchase based on the result of an objective review of available information is based on a(n):
A)product buying motive
B)patronage buying motive
C)rational buying motive
D)emotional buying motive
E)stable buying motive
Q2) Managers at Swim-Tex have informed members of the purchasing department to change straight rebuy situations to modified rebuys.What does this most likely mean for members of the Swim-Tex purchasing department?
A)renegotiating prices with vendors
B)simplifying the buying process
C)building strategic alliances
D)forming a new value chain
E)focusing on a decision in the process that is not an issue for the customer
Q3) "When should I buy?" is a consideration in the buyer resolution theory of personal selling.
A)True
B)False
Q4) List and describe the three types of consumer buying situations.
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Chapter 9: Developing and Qualifying Prospects and Accounts
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Sample Questions
Q1) How does the retiring representative's decision to not use a CRM system most likely affect Frederick Company?
A)Customer knowledge is lost rather than passed on to the rest of the company.
B)The sales representative's territory is not maximized because of poor strategy.
C)The entire company's pipeline forecasts cannot be maintained or calculated.
D)Organizational culture is damaged because of a lack of team spirit.
E)Hiring practices are hindered because of poor mentoring methods.
Q2) Because cold calling does not immediately result in a high level of closed sales,some companies feel that it is worthless.However,when done correctly-by researching the prospect and keeping the call bright and focused-it can be a(n):
A)tool for making a quick transactional sale
B)strategy for qualifying prospects with an elevator pitch
C)way to introduce the prospect to the sales representative
D)risk-free way to build rapport with a new prospect
E)method of closing sales that have been pending
Q3) Joe Girard,popular sales trainer and consultant,used the "________" concept to illustrate the relationship between prospecting and the loss of customers due to attrition.
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Page 11
Chapter 10: Approaching the Customer With Adaptive Selling
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Sample Questions
Q1) The survey approach is generally a non-threatening way to open a sales call.
A)True
B)False
Q2) The six parts of the presale presentation plan checklist represent new additions to the sales training literature.
A)True
B)False
Q3) An approach that gets the prospect thinking about a problem the salesperson can solve is the:
A)referral approach
B)question approach
C)product demonstration approach
D)survey approach
E)premium approach
Q4) Preparation for the actual sales presentation is a two-part process.Part one is referred to as the ________ and part two is called the ________.
Q5) When you use the ________ approach,your opening statement should include a direct reference to the third party.
Q6) List and explain the steps in the Six-Step Presentation Plan.
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Chapter 11: Determining Customer Needs With a
Consultative Questioning Strategy
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Sample Questions
Q1) Action Selling claims that there is a higher rate of successfully closing a sale when a salesperson can:
A)introduce the product within the first five minutes of conversation
B)persuade the customer to buy an unnecessary product
C)uncover two or more needs during questioning
D)summarize the technical details of installation
E)customize product offerings at a low cost
Q2) Consultative selling focuses on identification of the customer's problem and finding a solution.
A)True
B)False
Q3) Salespeople should most likely make benefit statements that:
A)cannot be matched by competitors
B)match the specific needs of the customer
C)match the needs of the typical buyer
D)are similar in every presentation
E)align with recent research
Q4) "How do you feel about using a computer to keep your expense records?" is an example of a(n)________ question.
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Q5) ________ questions require a prospect to go beyond a simple yes/no response.
Chapter 12: Creating Value With the Consultative Presentation
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Sample Questions
Q1) Which of the following is an accurate statement regarding the sales presentation?
A)It is best to communicate all you know about the product.
B)The location of the sales presentation is an irrelevant factor.
C)Each product feature is of equal importance to every customer.
D)Appealing to the prospect's senses makes the sales presentation more powerful.
E)A sales presentation that does not use technology is not likely to be successful.
Q2) Which of the following statements regarding audiovisual presentations is true?
A)Focus your presentation on the features that have the greatest "wow factor."
B)At the conclusion of the presentation,persuade the prospect to buy.
C)Show the entire presentation and then answer questions.
D)Be sure the prospect knows the purpose of the presentation.
E)Avoid previewing the material which ruins the surprise factor.
Q3) As part of the preparation for the presentation,Tyler should most likely:
A)research the trucking company's operations and needs
B)memorize the standardized presentation script
C)install web conferencing software on the buyer's computer
D)come up with a persuasive argument for the buyer
E)include as many audio visual aids as possible in the presentation
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Chapter 13: Negotiating Buyer Concerns
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Sample Questions
Q1) Cost represents the:
A)relationship between price and amortization
B)initial amount the buyer pays for the product
C)amount the buyer pays for a product as it is used over a period of time
D)true value of the product in non-financial terms
E)buyer's contribution to the negotiations
Q2) The ________ method of negotiating buyer resistance is one of the most convincing ways to overcome buyer skepticism.
Q3) A(n)________ is a benefit that will,in most cases,outweigh the customer's specific concern.
Q4) If you are familiar with your product as well as your competition's product,which method of negotiating buyer resistance is best for overcoming buyer skepticism?
A)defamation
B)feel-felt-found
C)third-party testimony
D)indirect denial
E)demonstration
Q5) List five common types of buyer concerns.
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Chapter 14: Adapting the Close and Confirming the Partnership
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Sample Questions
Q1) To close a sale more effectively,it helps to look at the value proposition:
A)from the customer's point of view
B)from the competition's point of view
C)as a made-up concept
D)as the objective to reach for
E)to determine which type of close to use
Q2) When a customer says "no," there is no chance that the decision can be changed,so a salesperson should leave the office quickly.
A)True
B)False
Q3) Anne is considerably interested in having her wedding at the zoo but seems to need help envisioning the process and benefits.What type of close should Lacey most likely use?
A)summary of benefits
B)trial
C)direct appeal
D)assumptive
E)special options
Q4) What suggestions would you give to a salesperson that does not successfully close a sale?
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Chapter 15: Servicing the Sale and Building the Partnership
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Sample Questions
Q1) A form that serves as a communications link with persons who can assist with customer service is called a:
A)service card
B)follow-up card
C)product service card
D)call report
E)product service report
Q2) Of the customers that leave companies each year,approximately ________ % leave because of bad customer service.
A)10
B)20
C)40
D)60
E)80
Q3) Research indicates that about half of lost customers leave due to price considerations.
A)True
B)False
Q4) The effort to sell better-quality products is known as ________.
Q5) List and describe the five major customer follow-up strategies.
Page 17
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Chapter 16: Opportunity Management: The Key to Greater Sales Productivity
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Sample Questions
Q1) Since Jameson has to coordinate airline flights,rental car information,prospect addresses,contact information and appointment times,and emails and voicemails from current clients,all while in transit,he would most likely benefit from a(n):
A)assistant
B)laptop
C)Rolodex
D)smartphone
E)atlas
Q2) Which of the following would LEAST likely be included in a firm's CRM system?
A)weekly sales call plans
B)stress management techniques
C)monthly planning calendar
D)sales meeting notes
E)customer information
Q3) One of the most effective methods of dealing with stress is to:
A)choose the "flight" response
B)maintain an optimistic outlook
C)initiate a crusade to alleviate all sources of stress
D)throw yourself with renewed vigor into your job
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E)set up a home office so you can work more frequently
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Chapter 17: Management of the Sales Force
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Sample Questions
Q1) Managers who use rewards as external motivators for salespeople should most likely:
A)set goals that are realistic
B)set goals based only on final sales numbers
C)give rewards at regular intervals
D)give primarily financial rewards
E)give the same rewards to all salespeople
Q2) The sales manager should not change the compensation plan,even if conditions in the marketplace warrant a change.
A)True
B)False
Q3) The CEO suggests that Victor attend a training program for sales managers.If the program is like most others,which of the following topics will most likely be covered?
A)motivating salespeople
B)forecasting short-term sales
C)managing sales territories
D)handling office politics
E)calculating ROI
Q4) ________ is an intrinsic reward that occurs when a duty or task is performed.
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