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Lecture 1

MKT 3427 Lecture Notes - Lecture 1: Flight Attendant, Peter Drucker, Veterinary Medicine


Department
Marketing
Course Code
MKT 3427
Professor
A.Gleiberman
Lecture
1

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Chapter 2 Evolution of Selling Models That Compliment the Marketing Concept
2.1 True/False Questions
1) Information technology aids salespeople in creating and maintaining relationships with
customers.
Answer: TRUE
Diff: 1 Page Ref: 42
Objective: LO1
2) A company that ignores the marketing concept will not have any negative effects.
Answer: FALSE
Diff: 2 Page Ref: 31
Objective: LO2
3) Value-added selling can be defined as a series of creative improvements within the sales
process that enhance the customer experience.
Answer: TRUE
Diff: 2 Page Ref: 42
Objective: LO2
4) Business firms vary in terms of how strongly they support the marketing concept.
Answer: TRUE
Diff: 1 Page Ref: 31
Objective: LO1
5) E-commerce has contributed to the decline in popularity of transactional selling.
Answer: TRUE
Diff: 2 Page Ref: 33
Objective: LO1
6) When measured by either the number of people employed or expenses as a percentage of
sales, personal selling is often the major promotional method used by American businesses.
Answer: TRUE
Diff: 2 Page Ref: 32
Objective: LO2
7) Consultative-style selling practices have become popular because they can be easily mastered.
Answer: FALSE
Diff: 2 Page Ref: 33
Objective: LO4
8) A "strategy" can be best described as a collection of techniques, practices, or methods you use
when you are face to face with a customer.
Answer: FALSE
Diff: 2 Page Ref: 34
Objective: LO2
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9) Consultative-style selling, which emerged in the late 1960s and early 1970s, is an extension of
the marketing concept.
Answer: TRUE
Diff: 3 Page Ref: 32
Objective: LO3
10) The four major strategies that form the strategic consultative selling model are independent
of one another.
Answer: FALSE
Diff: 3 Page Ref: 38
Objective: LO5
11) Typical salespeople spend about 30 percent of their time in actual face-to-face selling
situations.
Answer: TRUE
Diff: 2 Page Ref: 38
Objective: LO5
12) The presentation strategy includes a reminder that outstanding service should be the
overriding theme of every sales presentation.
Answer: TRUE
Diff: 1 Page Ref: 38
Objective: LO5
13) A major reason for the demise of the product solution is the growing number of look-alike
products.
Answer: TRUE
Diff: 2 Page Ref: 39
Objective: LO6
14) The partnering concept, as an enhancement of personal selling, became very popular in the
1970s.
Answer: FALSE
Diff: 3 Page Ref: 39
Objective: LO6
15) The goal of strategic alliances is to achieve a marketplace advantage by teaming up with
another company whose products fit well with your own.
Answer: TRUE
Diff: 1 Page Ref: 39
Objective: LO6
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2.2 Multiple-Choice Questions
1) In consultative selling, the customer is seen as:
A) a person to be served
B) a prospect to be sold
C) a customer to be retained
D) progress toward a quota
E) a challenge to be overcome
Answer: A
Diff: 1 Page Ref: 33
Objective: LO1
2) The development of a personal selling philosophy involves:
A) a full acceptance of the limits of the marketing concept
B) a full appreciation of the tenets of the free enterprise system
C) a desire to sell internationally
D) assuming the role of a problem-solver in helping customers make complex buying decisions
E) assuming the role of a competitor for customers' money
Answer: D
Diff: 2 Page Ref: 30
Objective: LO1
3) Sales departments and marketing departments often compete for:
A) the largest number of employees in the company
B) the biggest customers
C) financial resources and budget share
D) management's favor
E) product to give away
Answer: C
Diff: 2 Page Ref: 35
Objective: LO1
4) Which of the following statements accurately describes value-added selling?
A) Value-added selling has emerged as a response to the product strategy.
B) Value-added selling has emerged as a response to the customer economy.
C) Value-added selling surfaced during the era of transactional selling.
D) Value-added selling would not be an appropriate strategy in international markets.
E) Value-added selling is only appropriate for services, not products.
Answer: B
Diff: 2 Page Ref: 44
Objective: LO1
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