1. A company wants to create a customer loyalty program to increase sales. Which purpose is the focus of this company?
A. Creating value and satisfaction Correct
B. Closing sales for short-term profits
C. Developing a new product mix
D. Identifying competitive offerings
Explanation
A customer loyalty program is like a warm invitation to keep customers returning, focusing on creating value and satisfaction through rewards and engagement, fostering long-term relationships to boost sales.
2. What distinguishes transactional selling from other types of selling?
A. It identifies the seller as a trusted advisor.
B. It aims to quickly make sales. Correct
C. It aims to customize sales.
D. It focuses on fostering connections with people.
Explanation
Transactional selling is like a sprint to close a deal, prioritizing quick, one-off sales over building long-term relationships or customizing experiences.
3. During a teleconference meeting with the entire sales staff of a national corporation, the chief executive officer (CEO) reminds the staff of their primary goal and responsibilities. What is their primary goal?
A. Generate profitable sales Correct
B. Develop operational budgets
C. Produce accurate forecasts
D. Conduct competitive analyses
Explanation
The sales team's primary goal is like the heartbeat of a business, driving profitable sales to fuel revenue and growth, overshadowing tasks like budgeting or forecasting.
4. What is one of the four groups of intermediaries?
A. Manufacturers
B. Wholesalers Correct
C. Developers
D. Consumers
Explanation
Wholesalers are like the middle link in the supply chain, distributing goods between producers and retailers, distinct from manufacturers, developers, or end-user consumers.
5. A sales manager is engaged in key account management and has identified which clients are critical to the company's long-term profitability. Which action should the sales manager take to maintain these client relationships?
A. Allocate resources to deliver customized services Correct
B. Build new clients in specific geographic areas
C. Identify new sources for client referrals
D. Focus on building relationships with new clients
Explanation
Key account management is like nurturing prized relationships, requiring customized services to maintain critical clients, ensuring long-term profitability over chasing new ones.