Sales Management
Exam Answer Key
Course Introduction
Sales Management is a comprehensive course designed to equip students with essential knowledge and skills for effectively leading and supervising sales teams in a dynamic business environment. The curriculum covers key topics such as sales strategies, sales force recruitment, training and motivation, performance evaluation, territory design, and compensation planning. Students will explore contemporary practices in relationship management, customer engagement, and the integration of digital tools into the sales process. Through case studies and practical assignments, the course emphasizes the importance of ethical decision-making, communication, and leadership in achieving organizational sales objectives.
Recommended Textbook
Marketing Strategy 6th Edition by O.C Ferrell
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10 Chapters
297 Verified Questions
297 Flashcards
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Page 2
Chapter 1: Marketing in Today's Economy
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25 Verified Questions
25 Flashcards
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Sample Questions
Q1) With respect to the strategic planning process. why has social responsibility and marketing ethics become important today? Is it really necessary to consider these issues in strategic planning? How can a firm plan to be socially responsible?
Answer: Our society still reverberates from the effects of corporate scandals at Enron, WorldCom, and ImClone, among others. Although these scandals make for interesting reading, many innocent individuals have suffered the consequences from these companies' unethical behavior. Social responsibility refers to an organization's obligation to maximize its positive impact on society while minimizing its negative impact. In terms of marketing strategy, social responsibility addresses the total effect of an organization's marketing activities on society. A major part of this responsibility is marketing ethics, or the principles and standards that define acceptable conduct in marketing activities. Ethical marketing can build trust and commitment and is a crucial ingredient in building long-term relationships with all stakeholders. Another major component of any firm's impact on society is the degree to which it engages in philanthropic activities. Many firms now make philanthropy a key strategic activity.
Because efforts to be socially responsible involve the allocation of human and financial resources, these activities must be planned just like traditional marketing activities.
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Chapter 2: Strategic Marketing Planning
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Sample Questions
Q1) Motorola continuously establishes performance standards and assesses actual performance by comparing it with these standards. Afterwards. Motorola often takes corrective action to reduce any discrepancies. This process is most likely outlined in the __________ section of Motorola's marketing plan.
A) evaluation and control
B) marketing strategy
C) marketing implementation
D) SWOT analysis
E) goals and objectives
Answer: A
Q2) Which of the following is one of the five basic questions that a good mission statement should answer?
A) Who are our competitors?
B) What is our market position?
C) What is our operating philosophy?
D) What are our opportunities?
E) Where have we been?
Answer: C
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Chapter 3: Collecting and Analyzing Marketing Information
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Sample Questions
Q1) With respect to conducting a situation analysis. which of the following IS NOT one of the four important issues to keep in mind?
A) Analysis alone is not a solution.
B) Data are not the same as information.
C) All bits of data are relevant no matter how minor they may seem.
D) The benefits of analysis must outweigh the costs.
E) Conducting a situation analysis is a challenging exercise.
Answer: C
Q2) In the 5W model of customer analysis. what is the primary emphasis of the "Why" question?
A) Identifying the situational influences that affect the customer buying process.
B) Assessing how purchases vary across different distribution outlets.
C) Determining how the purchase and consumption of one product is related to other products.
D) Identifying the basic need-satisfying benefits provided by the firm's products.
E) Assessing how customers consume and dispose of products.
Answer: D
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Chapter 4: Developing Competitive Advantage and Strategic Focus
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Sample Questions
Q1) To successfully utilize SWOT analysis as a catalyst for strategic planning. the marketing manager must focus on several important issues. Which of the following IS NOT one of these issues?
A) The manager must look beyond the firm's current product offerings.
B) The manager must find ways to connect the firm's strengths to its opportunities.
C) The manager must strive to convert weaknesses into strengths.
D) The manager must attempt to minimize the firm's limitations.
E) The manager must find ways to transform key threats into strengths.
Q2) Strengths are typically based on the existence and nature of the __________ possessed by the firm. Weaknesses stem from a lack of these important factors.
A) patents and capital
B) resources and relationships
C) customers and partnerships
D) products and customers
E) customers and resources
Q3) Identify and explain the major characteristics of marketing goals.
Q4) Identify and explain the major characteristics of marketing objectives.
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Chapter 5: Customers Segmentation and Target Marketing
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Sample Questions
Q1) Firms engage in __________ when their intimate knowledge and expertise in one market allows them to offer customized marketing programs that not only deliver needed products but also provide needed solutions to customers' problems.
A) single segment targeting
B) market specialization
C) selective targeting
D) product specialization
E) mass market targeting
Q2) One of the most successful and well-known tools of __________ segmentation is VALS developed by Strategic Business Insights.
A) psychographic
B) geographic
C) demographic
D) geoclustering
E) emotional
Q3) Describe how the business buying process differs from the consumer buying process. Include an explanation of the unique characteristics of business markets.
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Chapter 6: The Marketing Program
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Sample Questions
Q1) The Fairmont Hotel is widely known for its exceptional quality and impeccable customer service. Not surprisingly. the Fairmont sets prices at the top end of all competing hotels. Which pricing strategy is the Fairmont using?
A) exclusive pricing
B) image pricing
C) psychological pricing
D) prestige pricing
E) service-based pricing
Q2) Compare and contrast the traditional use of power in a marketing channel versus today's notion of integrated and collaborative supply chains. Do the five traditional power bases still play a role in today's era of collaboration? Explain.
Q3) The most basic benefit of marketing channels is __________ where channels reduce the number of contacts necessary to exchange products.
A) contraction
B) time efficiency
C) contact efficiency
D) contact creation
E) accumulation
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8
Chapter 7: Branding and Positioning
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Sample Questions
Q1) Walmart offers many different private-label brands including Sam's Choice. Equate. and Ol' Roy. Overall. what is the primary reason that Walmart would offer these and other private-label brands?
A) increased profit margin
B) reduced marketing costs
C) lowers the risk of a product failure
D) lower inventory costs
E) enhances Walmart's image
Q2) Why is the product life cycle an important consideration in selecting and developing a marketing strategy? What are the core differences among the PLC stages that force marketers to alter their marketing programs over time?
Q3) If you purchase a notebook computer from Dell. you will note several brand insignias on the outside. such as Dell. Intel. and Microsoft Windows. What type of branding strategy does this example represent?
A) co-branding
B) brand licensing
C) co-marketing
D) brand affinity
E) brand collaboration
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Page 9
Chapter 8: Ethics and Social Responsibility in Marketing Strategy
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Sample Questions
Q1) __________ is a broad concept that relates to an organization's obligation to maximize its positive impact on society while minimizing its negative impact.
A) Marketing ethics
B) Corporate philanthropy
C) Social responsibility
D) Strategic philanthropy
E) Social engineering
Q2) Describe the role that a code of conduct plays in ensuring ethical compliance within a firm. How should a code of conduct be developed. what should it contain. and what are the keys to ensuring that the code is successfully implemented?
Q3) Research indicates that being ethical and socially responsible has a number of benefits for the organization. Which of the following \(\bold{\text{IS NOT}}\) one of these benefits?
A) increased customer goodwill
B) increased stakeholder orientation of the organization
C) increased employee commitment and satisfaction
D) increased marketing performance
E) increased competitive orientation
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Chapter 9: Marketing Implementation and Control
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Sample Questions
Q1) One of the links between strategic planning and marketing implementation is interdependency. which refers to the fact that:
A) strategy and implementation both result from trial and error.
B) top executives often don't understand how a strategy is to be implemented.
C) the marketing plan affects how it will be implemented, and implementation affects the marketing plan.
D) both strategy and implementation must constantly evolve.
E) both strategy and implementation must adapt to environmental changes.
Q2) Because they are cost effective and beneficial to ensuring consistency and standardization within the marketing program. centralized marketing structures are best suited for which of the following strategies?
A) customer intimacy
B) operational excellence
C) product leadership
D) service efficiency
E) niche marketing
Q3) Identify and explain the three different types of informal controls used by employees. In your discussion. explain how each type of control affects marketing implementation.
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11
Chapter 10: Developing and Maintaining Long-Term Customer Relationships
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Sample Questions
Q1) __________ refers to the degree of superiority of a firm's goods or services. It is a relative term because it can only be judged in comparison to competing products or when compared to an internal standard of excellence.
A) Value
B) Durability
C) Quality
D) Satisfaction
E) Sustainability
Q2) What is the primary disadvantage associated with using financial incentives as a means of developing customer relationships?
A) They take a long time to work.
B) Customers may resist the use of financial incentives.
C) They can be expensive to use.
D) They can promote continual brand switching.
E) All of the above.
Q3) Explain the overall objective of customer relationship management and the stages that customers are pulled through in the process. For each stage. identify the marketing goals during the stage as well as examples of strategies that may be used.
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