Study Guide and Quiz Answers

When a potential customer becomes serious about the purchase and is likely to buy the product, the customer becomes a ___________.A.Sales prospectB.Retained customerC.Cross sellerD.Sales quota

If a company has good customer retention, that means it has what?A.CRM softwareB.New sales leadsC.Repeat customersD.High sales commissions

Which category in Maslow's hierarchy includes basic survival needs such as air, food, water, and shelter?A.Physiological needsB.Social needsC.Safety needsD.Self Actualization

What is a sales lead?A.An employee on the customer service team who deals with existing customersB.A sales person who works on a residual commission structureC.An expert in Maslow's hierarchy of needsD.A potential customer who has shown interest in the company's product

Which selling method is most likely to irritate potential customers?A.Running a trade fair boothB.Cold callingC.Running a flea market boothD.Telemarketing to people who are interested in the product

Which of the following is an example of an illegal business activity? A. Cross selling B. Network marketing C. Cold calling D. Price fixing Please select the best answer from the choices provided

What is a clientele?A.A list of benefits a product provides for customersB.A team of employees who promote customer retentionC.An individual customer who is unhappy with the company's productD.A collection of customers who purchase and use a company's product

Which of the following commission structures creates sales people who are highly motivated to close sales, because their entire income depends on it?A.Salary plus bonusB.Salary onlyC.Residual commissionD.Commission only

Which of the following is an example of a psychological pricing strategy?A.Promotional pricingB.Odd pricingC.Product line pricingD.Unit pricing

What is a price ceiling?A.The maximum price the government allows sellers to charge for a productB.A form of price skimming that allows companies to set prices as high as they wantC.The minimum wage the government requires that companies pay employees for hourly workD.A penetration pricing strategy