Principles of Marketing Midterm
Exam
Course Introduction
Principles of Marketing introduces students to the foundational concepts and strategies essential to understanding the marketing process in contemporary organizations. The course explores key topics such as market research, consumer behavior, product development, pricing strategies, distribution channels, and promotional techniques. Emphasis is placed on the role of marketing in delivering value to customers and building competitive advantage. Through real-world examples and case studies, students gain practical insights into how marketing principles are applied across various industries and digital platforms to meet organizational goals and satisfy consumer needs.
Recommended Textbook
Dalrymples Sales Management Concepts and Cases 10th Edition by William L. Cron
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16 Chapters
1140 Verified Questions
1140 Flashcards
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Page 2
Chapter 1: Introduction to Selling and Sales Management
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40 Verified Questions
40 Flashcards
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Sample Questions
Q1) One reason U.S. companies are looking globally for incremental sales growth opportunities is that over two-thirds of the world's purchasing power is outside of the U.S.
A)True
B)False
Answer: True
Q2) In general, customer dissatisfaction with the quality of service they receive has been caused by the deteriorating customer service provided by most companies.
A)True
B)False
Answer: False
Q3) Listening skills are one of the top five skills needed to be successful in a solutions selling model according to a recent survey of sales executives.
A)True
B)False
Answer: True
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3
Chapter 2: Strategy and Sales Program Planning
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62 Verified Questions
62 Flashcards
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Sample Questions
Q1) Telemarketing as a means of accessing customers is growing rapidly, but is usually limited to orders of $300 or less.
A)True
B)False
Answer: False
Q2) When a customer purchases from a particular supplier primarily because of the consistency of its product quality, the customer and supplier are most likely in a transactional relationship.
A)True
B)False
Answer: True
Q3) AT&T contracting with another company to jointly sell its computers in France is an example of which market accessing alternative:
A) an independent sales agent.
B) an integrator.
C) an alliance.
D) a differentiator.
E) a distributor.
Answer: C
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Page 4
Chapter 3: Sales Opportunity Management
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65 Verified Questions
65 Flashcards
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Sample Questions
Q1) The easiest and most widely used model for allocating salespeople's time is the multiple factor model.
A)True
B)False
Answer: True
Q2) A sales response function shows the relationship between the number of sales calls on a customer and the resulting sales volume at each sales call level.
A)True
B)False
Answer: False
Q3) <b>Direct selling expenses</b> are those associated with selling a product directly to the final user of the product.
A)True
B)False Answer: False
Q4) Trade shows are generally not very effective in generating good sales leads.
A)True
B)False Answer: False
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Chapter 4: Account Relationship Management
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63 Flashcards
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Sample Questions
Q1) It is possible for one person in an organization to occupy the role of both a technical and an economic buyer.
A)True
B)False
Q2) When a customer views the supplier as a critical to the customer's competitive position, then the supplier would most likely be considered a ___________ supplier?
A) In
B) Preferred
C) Partner
D) Extended
E) Either c or d above
Q3) Derived demand is an important idea in business-to-business sales because:
A) it usually determines how much can be sold.
B) it is the only factor determining a product's price.
C) it determines what arguments are included in the sales presentation.
D) it is an indicator of the state of the economy.
E) all of the above
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Chapter 5: Customer Interaction Management
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68 Flashcards
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Sample Questions
Q1) As a rule, customers do not buy products or services, they buy a set of<b> benefits</b> that address their problems.
A)True
B)False
Q2) The question "How are the new EPA regulations affecting your purchases of air filtering equipment?" is an example of a_____________ discovery question.
A) close-ended
B) permission
C) problem
D) checking
E) open-ended
Q3) "Recognition by one's boss" is an example of a personal motive for making a purchase decision.
A)True
B)False
Q4) "Recognition by one's boss" is an example of a task motive for making a purchase decision.
A)True B)False
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Chapter 6: Sales Force Organization
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76 Flashcards
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Sample Questions
Q1) The most common way to organize a field sales force is in a generalist structure.
A)True
B)False
Q2) If a company's objective is to minimize total sales force costs, then some form of sales force specialization is the best sales force structure option.
A)True
B)False
Q3) The most common form of sales force organization today is according to geographic territories without farther specialization.
A)True
B)False
Q4) The most widely used form of sales force organization in use today is:
A) customer.
B) geographic.
C) product lines.
D) both a and b above.
E) none of the above.
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Chapter 7: Recruiting and Selecting Personnel
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87 Flashcards
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Sample Questions
Q1) An excellent source of sales trainees is educational institutions. However, according to the text, one disadvantage of recruiting sales trainees from reputable colleges is that college students:
A) do not know how to budget their time.
B) lack perseverance.
C) expect to be promoted to management positions quickly.
D) generally do not possess oral and written skills.
E) lack maturity.
Q2) According to surveys, it is likely that over half of applicants for will have fabricated something about their educational backgrounds.
A)True
B)False
Q3) Guidelines explaining the discriminatory laws have been issued by:
A) FCC
B) ADA
C) AMA
D) FAA
E) BMOC
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9
Chapter 8: Training
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Sample Questions
Q1) The ultimate objective of any training program is to increase the sales and/or profits of the firm.
A)True
B)False
Q2) As a veteran sales manager you recognize that one problem with using sales as a performance measure for evaluating a training program is that sales may change as a result of factors outside of salespeople's control. One method of evaluating sales training that may potentially overcome this problem is to:
A) compare the results of people who have gone through a training program with those of people who have not but who are in otherwise similar situations.
B) compare the results of high and low performing salespeople to see if anything has changed.
C) compare the before and after results of just high performers, because these are the people who will provide the best evaluation indicator.
D) compare the before and after results of just low performers, because these are the people who will provide the best evaluation indicator.
E) none of the above.
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Chapter 9: Leadership
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Sample Questions
Q1) Sales meetings are typically organized around three factors: meeting objectives, budgets, and location/timing.
A)True
B)False
Q2) Legitimate power is based on a manager's position in the organization.
A)True
B)False
Q3) As a new sales manager, you realize that certain skills are needed to be effective in the job. One of your daily "to-do's" is to keep abreast of where your market is headed and what the competition is doing. You also communicate your beliefs throughout the organization. This activity is an attempt to develop which leadership skill?
A) empowerment
B) intuition
C) value congruence
D) vision
E) self-understanding
Q4) Role modeling and coaching can overcome a lack of trust in the sales manager.
A)True
B)False
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Chapter 10: Ethical Leadership
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Sample Questions
Q1) The first step in attempting to arrive at a decision for a moral problem is to:
A) create alternative solutions.
B) write down your recommendation.
C) assemble the facts.
D) conduct in-depth analysis.
E) recognize the dilemma.
Q2) Which of the following is <b>not</b> a way to keep your employees straight?
A) encourage employees to call for help when they face an ethically troublesome sale
B) setting up realistic goals
C) instituting large expense accounts with informal rules
D) encourage employees to "blow the whistle" when they must
E) all of the above are ways
Q3) The most frequent area for ethical abuse in a sales organization is with expense accounts.
A)True
B)False
Q4) Conventional morality can be expressed as "When in Rome, do as the Romans do."
A)True
B)False
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Chapter 11: Motivating Salespeople
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88 Verified Questions
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Sample Questions
Q1) Quotas:
A) are often used as a basis for compensation and performance evaluation.
B) are goals assigned for individual salespeople for a particular time period.
C) are equivalent to asking you to "do your best."
D) both a and b of the above.
E) all of the above.
Q2) Herzberg's Motivation Theory referred to the desire for unfulfilled needs as:
A) deficiency factors.
B) motivation factors.
C) achievement factors.
D) hygiene factors.
E) ego factors.
Q3) According to the text, which of the following is the most effective way to build enthusiasm to kick off a sales contest is to:
A) send an email to the sales force describing the contest rules.
B) begin with a sales meeting.
C) have a personal meeting with each individual member of the sales force.
D) leave a telephone voice mail message for each member of the sales force.
E) send an email to each salesperson's home computer describing the rules.
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Page 13
Chapter 12: Compensating Salespeople
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Sample Questions
Q1) The primary benefit of salary-plus-commission plans is they allow the compensation program to be tailored to the needs of a particular firm.
A)True
B)False
Q2) In an unlimited expense account plan, a salesperson can make money for himself by cutting back on travel.
A)True
B)False
Q3) Straight salary plans often do not provide strong incentive for extra effort.
A)True
B)False
Q4) Building an effective sales force compensation plan boils down to:
A) Providing the highest level of wages possible.
B) Finding the right combination of salary and incentive pay.
C) Designing the plan around the seniority of the workers
D) All of the above
E) both a and b of the above
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Chapter 13: Evaluating Sales Force Performance
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Sample Questions
Q1) When 20 percent of the sales come from 80 percent of the buyers sales managers should suspect that they are losing money serving small accounts.
A)True
B)False
Q2) In analyzing sales figures to evaluate performance, unit sales are useful when inflation, deflation, and other price changes distort dollar figures.
A)True
B)False
Q3) As a sales manager, it is often useful to conduct a cost and profit analysis. This analysis starts with gross sales revenues because returns, bad debt accounts, and allowances must be taken into account in order to more accurately assess salesperson performance.
A)True
B)False
Q4) Outcome evaluation systems are recommended in industries where the salesperson has a substantial influence on the results.
A)True
B)False
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Page 15
Chapter 14: Estimating Potentials and Forecasting Sales
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Sample Questions
Q1) When using the trend projection method, the analyst estimates trend from past data and adds this figure to current sales to obtain a forecast.
A)True
B)False
Q2) When forecasting sales for a particular product, all of the following are possible leading indicators except:
A) new building permits.
B) historical data for that product.
C) Dow Jones industrial average.
D) new orders for durable goods.
E) all of the above are leading indicators.
Q3) Sales forecasting using a <b>moving average</b> takes several recent periods of sales and uses the figures as a prediction of sales in the next period.
A)True
B)False
Q4) A minimum of two periods of data are needed to use the moving average method.
A)True
B)False
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Chapter 15: Territory Design
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Sample Questions
Q1) There are a number of benefits to using sales territories. The primary benefit is improved market coverage. Which of the following is/are among the other benefits?
A) increased sales.
B) reduced sales force turnover.
C) higher sales force moral.
D) a and c of the above.
E) all of the above.
Q2) The workload approach to territory design is usually more suitable in situations where salespeople are on salary.
A)True
B)False
Q3) All companies use sales territories.
A)True
B)False
Q4) Computer programs are increasingly being used to design sales territories.
A)True
B)False
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Chapter 16: Sales Force Investment and Budgeting
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Sample Questions
Q1) Which of the following is true regarding the profit impact of sales force size:
A) the sales force is a cost generator.
B) keeping sales costs within budget will ensure maximum profits.
C) average profits per salesperson will generally decrease when new salespeople are added.
D) only a and c above are true.
E) a, b, and c above are all true.
Q2) The company wants to spend 8% of sales on the sales force, the cost of supporting a salesperson is estimated at approximately $80,000 per person, and 20% of the sales force budget is for management and other costs. Calculate the number of salespeople the budget will support, if sales are forecasted to be $3.2 million.
A) 2 people
B) 2.5 people
C) 3 people
D) 3.5 people
E) none of the above
Q3) If the sales force needs to be downsized, then it is best to do it gradually.
A)True
B)False
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Page 18