MKTG 2500 FINAL EXAM (100% Accurate Answers)

The role of a company's salespeople in creating value for customers and building customers relationships correct answers An individual representing a company to customers by performing one or more of the following activities: prospecting, communicating, selling, service, information gathering, and relationship building. The 6 major sales force management steps correct answers 1. Designing sales force strategy and structure 2. Recruiting and selecting salespeople 3. Training people 4. Compensating salespeople 5. Supervising salespeople 6. Evaluating salespeople Define the personal selling process correct answers Prospecting, pre-approach, approach, presentation, meeting objections, closing the sale, the follow-up Distinguish between the transaction-oriented marketing and relationship marketing correct answers Transaction oriented marketing: business strategy that focuses on single "point of sale" transaction. Relationship marketing: strategy designed to foster customer loyalty, interaction and long-term engagement Define direct marketing correct answers Connecting directly with carefully targeted segments or individuals consumers, often on a one-to-one, interactive basis Benefits to customers due to direct marketing correct answers Convenient, private, ready access to products and information, immediate and interactive Benefits to sellers due to direct marketing correct answers Powerful tool for building customer relationships, target small groups or individuals, tailor offers to individual needs, timed to reach prospect at the right moment, gives access to buyers they could not reach through other channels, offers a low-cost, efficient way to reach markets. Major forms for direct marketing correct answers Telephone marketing, direct mail marketing, catalog marketing, direct response TV, kiosk marketing Identify the major forces shaping the digital age correct answers Digitalization and connectivity, brick and mortar, click and mortar What is digitalization and connectivity correct answers The flow of digital information requires connectivity: intranets, extranets, the internet What is brick and mortar correct answers Business model that has been highly successful