Retail and Wholesale Sales
Midterm Exam
Course Introduction
This course explores the fundamental principles and practices of retail and wholesale sales, examining the dynamic interactions between suppliers, retailers, and consumers. Students will learn about sales strategies, inventory management, product merchandising, customer service, and sales analytics. The course also covers the role of technology in sales transactions, trends in consumer behavior, supply chain considerations, and legal or ethical issues affecting the industry. Through case studies, simulations, and sales projects, students develop hands-on skills and insights essential for succeeding in various sales environments.
Recommended Textbook
Selling Building Partnerships 8th Edition by Stephen Castleberry
Available Study Resources on Quizplus
17 Chapters
1936 Verified Questions
1936 Flashcards
Source URL: https://quizplus.com/study-set/2467
Page 2
Chapter 1: Selling and Sales-People
Available Study Resources on Quizplus for this Chatper
89 Verified Questions
89 Flashcards
Source URL: https://quizplus.com/quiz/49004
Sample Questions
Q1) What are manufacturer's agents?
Answer: Independent businesspeople who are paid on a commission basis and do not own the products they sell. They sell products and take orders, which are transmitted to the manufacturer.
Q2) How do field salespeople differ from inside salespeople?
Answer: Field salespeople spend considerable time in the customer's place of business interacting with the customer, oftentimes engaging in problem solving. Inside salespeople work at their employer's location and typically respond to customer-initiated requests.
Q3) As a missionary salesperson, Joshua represents a large drug manufacturer and calls on physicians to explain the benefits to them of prescribing his firm's products for their patients.
A)True
B)False
Answer: True
Q4) Describe the personality profile for the ideal salesperson.
Answer: There is no such profile, but successful salespeople are hard workers and smart workers. They are highly motivated, dependable, ethical, knowledgeable, good communicators, flexible, creative, and emotionally intelligent.
To view all questions and flashcards with answers, click on the resource link above. Page 3
Chapter 2: Ethical and Legal Issues in Selling
Available Study Resources on Quizplus for this Chatper
133 Verified Questions
133 Flashcards
Source URL: https://quizplus.com/quiz/48995
Sample Questions
Q1) A small appliance manufacturer trying to build a factory in one of the Mexican states offered the governor of the state a bribe of $12,000 to waive certain environmental regulations for the manufacturing concern. This is an example of:
A)collusion.
B)subordination.
C)capitulation.
D)indemnification.
E)lubrication.
Answer: B
Q2) Ivan sells customized computer software and hardware to small businesses. To make the sale to Newport Nursery, he has offered to give the owner a reduced price if she will buy today. He initially quoted her a price $100 more than his company's list price; his bargain price is the list price. Ivan has:
A)acted illegally.
B)violated the Robinson-Patman Act.
C)tried to use backdoor selling.
D)used deception in trying to make a sale.
E)acted within the typical salesperson's ethical boundaries.
Answer: D
To view all questions and flashcards with answers, click on the resource link above. Page 4
Chapter 3: Buying Behavior and the Buying Process
Available Study Resources on Quizplus for this Chatper
117 Verified Questions
117 Flashcards
Source URL: https://quizplus.com/quiz/48994
Sample Questions
Q1) The human resource director at a commercial laundry is having trouble providing the labor needed for the business. In a trade journal, he read about a VAC Soil Counting System that is a computerized system for sorting and counting incoming soiled textiles. The system can reduce labor costs by up to 50 percent. He called the toll-free number in the ad and has talked to the salesperson. The VAC salesperson had been trying to get an interview with the owner of the laundry for over a year, so he was pleased when the HR director showed interest in the product and expressed willingness to take the information to the owner. In terms of the buying center, the HR director is acting as a(n):
A)initiator.
B)buyer.
C)user.
D)decider.
E)gatekeeper.
Answer: A
Q2) What is the first step in the organizational buying process?
Answer: recognizing a need or a problem.
Q3) How would you classify the largest customers in the United States for goods and services?
Answer: as government agencies.
To view all questions and flashcards with answers, click on the resource link above.
Page 5
Chapter 4: Using Communication Principles to Build Relationships
Available Study Resources on Quizplus for this Chatper
90 Verified Questions
90 Flashcards
Source URL: https://quizplus.com/quiz/48993
Sample Questions
Q1) Negotiations in international sales often take place in English because it is the only language known both by the seller and the prospect. For a native English speaker, when talking with a prospect for whom English is a second language which of the following is good advice?
A)Use precise words like "cease" and "pizzazz".
B)Use words with alternative meanings like "right".
C)Use descriptive expressions like "to put all the eggs in one basket".
D)Use action-specific verbs like "press that button".
E)Any of the above would be good advice for dealing with someone for whom English is a second language.
Q2) As a professional salesperson should you dress to please yourself? Explain your answer.
Q3) How do salespeople engage in active listening?
Q4) What are the three forms of nonverbal expression? What do experts say about the importance of nonverbal behavior?
Q5) The speaking-listening differential can be used to predict how many moments of silence will likely occur in the sales presentation.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 6
Chapter 5: Adaptive Selling for Relationship Building
Available Study Resources on Quizplus for this Chatper
106 Verified Questions
106 Flashcards
Source URL: https://quizplus.com/quiz/48992
Sample Questions
Q1) The sales manager suggests "Let's talk about why you did not achieve your goals last month." The sales manager is providing diagnostic feedback.
A)True
B)False
Q2) Hylana walks into a prospect's office and sees a diploma from California Polytechnic College, a number of models of company products, and a library of reference manuals. What social style should Hylana assume her prospect is?
Q3) What are the differences among standard memorized, outlined, and custom sales presentations?
Q4) Gwen allotted only 20 minutes for her sales presentation with Mr. James. She had facts and figures to show him how buying her company's anti-theft system would affect his store's bottom line. She knew that she would have a decision within 15 minutes of starting the presentation. In which category of social style would you place Mr. James?
Q5) Brad frequently adjusts his sales presentation to meet the needs of different customers. What quality does Brad possess that helps him be a successful salesperson?
Q6) What is the difference between performance feedback and diagnostic feedback?
To view all questions and flashcards with answers, click on the resource link above.
Page 7
Chapter 6: Prospecting
Available Study Resources on Quizplus for this Chatper
110 Verified Questions
110 Flashcards
Source URL: https://quizplus.com/quiz/48991
Sample Questions
Q1) A large cosmetics company wants to create a Web site to sell their cosmetics. They want their people trained to maintain the Web site and work with search engines. They also want an extranet created as well as internal networking facilities for conferencing established. Basically, the organization has been a laggard and wants to leap into the technological world. Because the tasks the company wants will require several different experts, it has outsourced the purchase of these services to Maxwell Consultants who will find and hire the people the cosmetics company needs. Maxwell will stay on the job until the company is satisfied. Maxwell Company will act as a(n):
A)in-house talent agency
B)network seller
C)decentralized purchasing corporation
D)systems integrator
E)functional supplier
Q2) What is the difference between an exclusive sales territory and a house account?
Q3) It is difficult to combine sales letters with telemarketing.
A)True
B)False
Q4) How can advertising assist sales prospecting?
Q5) What is data mining?
To view all questions and flashcards with answers, click on the resource link above. Page 8
Chapter 7: Planning the Sales Call
Available Study Resources on Quizplus for this Chatper
103 Verified Questions
103 Flashcards
Source URL: https://quizplus.com/quiz/48990
Sample Questions
Q1) A Salesperson's job is to discover what the customer values and then find ways to overcome customer resistance.
A)True
B)False
Q2) What do salespeople call someone like Sarah, who is eager to learn about Brian's product offerings and willing to help him learn more about her company?
Q3) The first place to look for information on the Internet about a prospect's company would be the prospect company's Web site.
A)True
B)False
Q4) If you don't know the basics about the prospect's firm, they will usually be glad to help you.
A)True
B)False
Q5) Make your first sales call on a prospect when you have gathered all the information there is about your prospect and his or her company.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above. Page 9
Chapter 8: Making the Sales Call
Available Study Resources on Quizplus for this Chatper
115 Verified Questions
115 Flashcards
Source URL: https://quizplus.com/quiz/48989
Sample Questions
Q1) FABs refer to features, advantages, and benefits in a sales presentation.
A)True
B)False
Q2) Why should a salesperson use verbal probing during a sales presentation?
Q3) Which of the following is the BEST example of an open question?
A)Do you want your order delivered in the morning or the afternoon?
B)Will you be doing three or four grosses of candles?
C)Will you be paying cash or charging these items on your account?
D)Why do you consider June to be your most productive month?
E)Do you have a method to display the Christmas ornaments?
Q4) How do salespeople use closed questions?
Q5) Imagine you are trying to sell your marketing professor a new selling textbook. You are debating whether to use an introduction or a benefit opening. What would you say if you were using an introduction opening? What would you say if you were using a benefit opening?
Q6) Many sales calls do not involve sitting down with a client.
A)True
B)False
Q7) What should a salesperson do to make a good first impression?
Q8) Describe the problem/solution selling model?
To view all questions and flashcards with answers, click on the resource link above. Page 10
Chapter 9: Strength-Ening the Presentation
Available Study Resources on Quizplus for this Chatper
112 Verified Questions
112 Flashcards
Source URL: https://quizplus.com/quiz/48988
Sample Questions
Q1) Ramiro decides to keep relatively high levels of inventory even though it costs him more. Most likely Ramiro thinks the cost of _______________ are greater than the benefits of increasing his turnover rate.
A)collateral
B)portfolios
C)stockouts
D)revenue enhancements
E)handouts
Q2) Inventory turnover is measured by dividing the average retail price of the inventory on hand by the annual sales.
A)True
B)False
Q3) A written proposal, according to the text, should have three parts, an executive summary, a budget, and:
A)a description of the current situation relative to the proposed solution.
B)a collection of testimonials from satisfied customers.
C)a statement of support from the buying committee.
D)photographs of the selling company's officers and buildings.
E)the selling firm's pro-forma balance sheet.
To view all questions and flashcards with answers, click on the resource link above. Page 11
Chapter 10: Responding to Objections
Available Study Resources on Quizplus for this Chatper
131 Verified Questions
131 Flashcards
Source URL: https://quizplus.com/quiz/49003
Sample Questions
Q1) In dealing with prospects and clients, an occasional "white lie" is an absolute necessity for dignity, confidence, and continued relations.
A)True
B)False
Q2) Which of the following is an example of an objection related to source?
A)"You're not an engineer; you can't understand the difficulty of drilling for oil in sub sea conditions at 15,000 psi of pressure."
B)"The lifelike quality of your silk flowers is just not worth the extra costs your company charges."
C)"I need to take some time and consider if I want to pay $3500 for an industrial-strength vacuum cleaner."
D)"I have always considered the Nitrile gloves to be of superior quality and have never considered buying another brand."
E)"While I do need entertainment for the Winter Carnival, I have heard that this particular entertainer has shown up to perform drunk."
Q3) According to salespeople, what is the most frequently mentioned obstacle to obtaining a purchase commitment?
To view all questions and flashcards with answers, click on the resource link above.
Page 12
Chapter 11: Obtaining Commitment
Available Study Resources on Quizplus for this Chatper
116 Verified Questions
116 Flashcards
Source URL: https://quizplus.com/quiz/49002
Sample Questions
Q1) With which type of personality is the balance sheet method of obtaining a commitment most likely to be successful?
A)amiable
B)driver
C)expressive
D)motivator
E)analytical
Q2) What are the two types of quantity discounts offered by businesses?
Q3) A probing method of closing utilizes suggestion selling to analyze hesitation on the part of the buyer.
A)True
B)False
Q4) Is there a right time to obtain commitment? How do customers let salespeople know they are ready to buy?
Q5) Death on Demand bookstore received an invoice dated May 2 from a publisher that read, "2/10, n30" and told the owner she owed a total of $600. How much should she pay if she pays the bill on May 3?
Q6) Wesley has just obtained a small order from a buyer who will see if his product will work. What has Wesley obtained?
To view all questions and flashcards with answers, click on the resource link above. Page 13
Chapter 12: Formal Negotiating
Available Study Resources on Quizplus for this Chatper
137 Verified Questions
137 Flashcards
Source URL: https://quizplus.com/quiz/49001
Sample Questions
Q1) A meeting in which people are allowed to creatively explore different methods of achieving goals is called a(n):
A)brainstorming session
B)agenda conference
C)fact-finding forum
D)idea interchange
E)caucus
Q2) When Betty asked the sales rep to free shipping and a 40 percent reduction in price, the sales rep was stunned. Betty's partner injected, saying free shipping and a 20 percent reduction in price would be more reasonable. Betty and her partner are using what negotiating strategy?
Q3) Anticipation of the various negotiation positions that will be adopted by the other side to the negotiation is impossible.
A)True
B)False
Q4) What is the term used to describe the actions of a negotiation team member that tries to begin the negotiation during the preliminaries when the other party is not expecting it?
Q5) What is the best response when the buying team attempts lowballing?
To view all questions and flashcards with answers, click on the resource link above. Page 14
Chapter 13: Building Partnering Relationships
Available Study Resources on Quizplus for this Chatper
96 Verified Questions
96 Flashcards
Source URL: https://quizplus.com/quiz/49000
Sample Questions
Q1) Common goals:
A)are important for the establishment of a strategic partnership.
B)help to sustain a strategic partnership when the expected benefits are not realized.
C)give both members of the strategic partnership a strong incentive to pool their resources.
D)allow partners in a strategic relationship to focus on opportunities rather than arguing about how profits are divided between them.
E)are accurately described by all of the above
Q2) What different types of relationships can exist between buyers and sellers?
Q3) Which of the following transactions can occur without the buyer and seller having a relationship?
A)Beverly purchases a pair of sandals from a retail sales clerk.
B)Leon buys a vacuum cleaner from a door-to-door salesperson.
C)Art acquires a new Volvo from a car dealership.
D)Ursula hires a weekly diaper service.
E)No sale can take place without some buyer-seller relationship being established.
Q4) What is the term used to describe a consumer's total purchase over their life?
To view all questions and flashcards with answers, click on the resource link above.
15
Chapter 14: Building Long-Term Partnerships
Available Study Resources on Quizplus for this Chatper
105 Verified Questions
105 Flashcards
Source URL: https://quizplus.com/quiz/48999
Sample Questions
Q1) Which of the following is a likely reason for a customer complaint?
A)salesperson caused buyer's expectations to be too high
B)terms of the sales contract were not met
C)product performs poorly
D)product is being used improperly by the customer
E)all of the above
Q2) _____ selling is selling the entire line of associated products.
A)Full-line
B)Integrated product
C)One hundred percent
D)Full-package
E)Total commitment
Q3) In which stage of the building of a long-term partnership does electronic data interchange (EDI) technology first appear as a useful tool for strengthening the relationship between buyer and seller?
A)recognition
B)expansion
C)exploration
D)commitment
E)instigation
To view all questions and flashcards with answers, click on the resource link above. Page 16
Chapter 15: Managing Your Time and Territory
Available Study Resources on Quizplus for this Chatper
131 Verified Questions
131 Flashcards
Source URL: https://quizplus.com/quiz/48998
Sample Questions
Q1) According to the text, there are three types of goals that a salesperson should set to achieve the highest possible levels of success. Which type of goal should be set first?
A)transformation
B)consequence
C)activity
D)performance
E)conversion
Q2) Which of the following is an example of an investment a safety equipment salesperson could make in a client?
A)sample earplugs
B)time
C)training customer's employees on how to use hazardous waste clean-up equipment
D)free trial use of a $3,000 machine for cleaning up toxic wastes
E)all of the above
Q3) What does it mean when the sales manager tells you that all of your activity goals are intermediate goals?
Q4) Brett has just calculated his number of sales per calls for the last month. What has he calculated?
To view all questions and flashcards with answers, click on the resource link above.
Chapter 16: Managing Within Your Company
Available Study Resources on Quizplus for this Chatper
126 Verified Questions
126 Flashcards
Source URL: https://quizplus.com/quiz/48997
Sample Questions
Q1) The portion of a sales rep's compensation that is based on his or her performance is called:
A)bonus.
B)stipend.
C)contribution.
D)incentive pay.
E)salary.
Q2) Oscar sells for Rubies Costume Company. When he presents his customer's position about Rubies's new credit terms to the company's comptroller, he is doing part of his job as a:
A)sales representative.
B)accounting employee.
C)collection agency enforcement officer.
D)chief finance officer (CEO).
E)marketing communication specialist.
Q3) In the opening profile about Lillie Sanchez of Phoenix International freight forwarder and customs broker company what information about her customers does she share with the departments in her company?
Q4) What is the difference between a house account and a key account?
Q5) What is another name for a national account manager (NAM)?
Page 18
To view all questions and flashcards with answers, click on the resource link above.
Chapter 17: Managing Your Career
Available Study Resources on Quizplus for this Chatper
119 Verified Questions
119 Flashcards
Source URL: https://quizplus.com/quiz/48996
Sample Questions
Q1) A(n) _____ is an organized collection of evidence of one's career. It can contain letters of reference, a résumé, thank-you letters from customers, papers you have written, and even a strategic plan you developed for class.
A)information packet
B)portfolio
C)personal scrapbook
D)individualized activity book
E)assessment support manual
Q2) Most interviewers think candidates who take notes during a one-on-one job interview are excessively insecure.
A)True
B)False
Q3) Mick is a salesperson who wants to keep improving his job skills. Who is the first person to whom he should look for assistance with this goal?
Q4) KSAs are an investment, and like an investment, they decay or depreciate if you do not continue to invest in them.
A)True
B)False
To view all questions and flashcards with answers, click on the resource link above.
19