Exam (elaborations)
Course Careers Final Exam Review Questions and Answers
- Course
- Institution
Course Careers Final Exam Review Questions and Answers
[Show more]
Content preview
Course Careers Final Exam ReviewQuestions and Answers
Account - Answer -contains all the records of customer interactions and is created after
the first time a customer buys from your business.
Account Executive (AE)/Closer - Answer -A sales team member in charge of closing
deals
Account Manager (AM)/Farmer - Answer -A sales team member in charge of up-selling
existing clients.
Annual Recurring Revenue (ARR) - Answer -The amount of money a customer pays
you every year on a subscription model.
Annual Contract Value (ACV) - Answer -The average annual revenue generated from
each customer's contract.
Account-Based Selling - Answer -A strategy where the entire company coordinates to
pursue high-value accounts.
Business Development Representative - Answer -A sales specialist focused on finding
new prospects and updating the pipeline.
Business to Business (B2B) - Answer -selling business to business.
Business to Consumer (B2C) - Answer -selling business to consumer.
Business Unit - Answer -A group of people representing a specific department or
product within a company.
Buyer Persona - Answer -A representation of the ideal customer for your business.
Buying signal - Answer -Verbal or nonverbal cues that show a customer is ready to
make a purchase.
C-level/C-Suite - Answer -Highest level executives.
,Champion - Answer -A prospect within a company that is willing to help convince others
in the company to make a purchase.
Channel Partner - Answer -A person or company that offers services or products on
behalf of another company.
Channel Sales - Answer -Focusing on different sales channels, such as an in-house
sales team, retailers, referrals, dealers etc.
Churn - Answer -Customers who were on a subscription and stopped using/paying for it
Closing Ratio - Answer -the number of deals closed compared to the number of
engaged prospects.
Clients - Answer -Closed opportunities, paying customers.
Closers - Answer -Account Executives focused on closing deals.
Cold Call - Answer -Calling a prospect to establish and build a relationship.
Cold Email - Answer -Emailing a prospect to establish and build a relationship.
Customer Acquisition Cost (CAC) - Answer -The cost of acquiring new paying clients.
Customer Lifetime Value (CLV) - Answer -The total lifetime value of one client before
they churn.
Customer Relationship Management (CRM) - Answer -A software or internet-based
service that helps manage the sales pipeline.
Customer Success - Answer -A strategy and proactive mindset that helps reduce churn
rates.
Decision Maker - Answer -The person in charge of making the purchasing decision at a
company.
Fortune 500 - Answer -A list of 500 of the largest companies in the US based on
revenue.
Gatekeeper - Answer -The person who decides to let you talk to the decision maker or
not. (primary responsibility is to protect their executive's time)
ICP (Ideal Customer Profile) - Answer -Ideal client for your business.
Inbound - Answer -Interest that comes in
, Inbound Sales - Answer -Sales that happen as a result of customers directly
approaching and engaging with the brand/company.
Lead - Answer -potential fit to purchase your product or service.
Lead Generation - Answer -All of the activities that have a goal to generate interest
around a product or a service through different methods.
Lead Nurturing - Answer -Building a long-term relationship with existing prospects.
Lead Qualification - Answer -A process of qualifying if a lead is a good fit to purchase
your product or service.
Lead Scoring - Answer -Ranking leads in terms of engaging priority
Influencer - Answer -Someone who has influence over the purchase but isn't the final
decision-maker.
Marketing Qualified Lead (MQL) - Answer -A lead that will most likely become a paying
client based on online engagement.
Monthly Recurring Revenue (MRR) - Answer -The amount of regular and predictable
income every month.
Onboarding - Answer -A process of introducing a new client to a service or product.
Opportunities - Answer -A qualified lead that is a good fit for your solution.
Outbound Sales - Answer -Cold calling, cold emailing and social selling, with the goal of
initiating contact with a prospective client and ultimately closing the deal.
Point of Contact - Answer -A person or a department within a company that the client
can reach out to.
Profit Margin - Answer -A ratio of profitability that reveals how much a company actually
makes.
Prospects - Answer -A list of names and contact information in some type of list,
database or CRM.
Referral - Answer -Method of generating new sales leads, where someone refers a
potential client to you.
Return on Investment (ROI) - Answer -Shows the effectiveness of the initial investment.
It is a ratio between net profit and the cost of investment.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller millyphilip. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
81113 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now