Everfi & Selling Summative

The Marketing Concept

Businesses must strive to satisfy a customer’s needs, Businesses must stay in touch with customers and moniter their purchasing behaivior, businesses generate a profit

Four concepts of sales managment and examples

company policies, training, compensations and sales quotas, legal and ethical issues

call report

a written report that documents sales representatives visit with a customer including the purpose and outcome of their visit.

sales quotas

a dollar or unit sales goal set for the sales staff to achieve in a specified period of time.

personal selling

any form of direct contact between a salesperson and a customer.

steps in the sales process

approach the customer, determine needs, present the product, overcome objections, close the sale, suggestion selling

Factory in-packs

The multiple packaging of one product, or of one product and another product of the same firm

description of a Value Proposition?

The features and benefits that make the product or business unique.

What is NOT true about an entrepreneur?

An entrepreneur’s salary is evaluated on their ability to complete the tasks assigned to them.

What are taxes?

taxes are mandatory payments you make to state and local governments.

Personal selling involves one-way communication between the buyer and seller.

false

When promoting to a group you must ask yourself this question:

What is the optimal price?

What is NOT considered a skill

determination skills

Your friend is developing a marketing plan for her new business. What should she put in this plan?

Where she wants to sell her product, The price of her product, A description of the people in her target market (All of the above)

A type of customer decision making used when a person needs little information about a product he/she is buying. What type of decision making is this?

routine decision making

Jane is thinking about opening a bakery. She knows she wants to set her own hours, reduce her stress and make a profit. But she still has a lot to think through. Which of the following would NOT be a good early step?

Immediately finding a storefront property for her business, putting down a deposit, and signing a lease.

Market research process

defining a problem, designing a research plan, collecting data, analyzing the data, and presenting findings

In a balanced budget, the amount you ______ is ______ the amount you earn.

spend; equal to

Point-of-Purchase Displays are usually placed in high-traffic areas and promote impulse purchases.

true

what is not a form of sales promotion?

advertising

All of the following are examples of consumer premiums except...

coupons

Which of the following is a start-up expense for Susan's food truck?

Kitchen appliances needed to conduct her business, Cell phone bill for customers to call, Gas for the food truck (all of the above)

Ali is disappointed with the projections of how much his cupcake cart will make in the first month. What could he do to try to improve his net profit?

Increase the prices

Which of the following is an example of a tax you must pay?

social security

A system that involves finding customers and keeping them satisfied is called ____________

customer relatiobship management

Sales career benefits include all of the following except...

additional base salary

Which of the following is an example of a variable expense?

electricity bill

variable expenise

an expensise that changes every year

fixed expense

an expense that stays the sameforever

What are federal taxes?

Federal taxes are payments you make to the US federal government.

some exmaples of assets are:

time, money car, house

Jibril walked through the neighborhood knocking on doors to sell his custom shoes. What kinds of sales is this?

personal selling