Define Selective Perception

People recall data matching beliefs, ignoring what contradicts.

What is non-experiential learning?

Learning through reading and studying

what is organizational buying as related to each of the following: sales cycle?

Purchases often require discussions, negotiations, and formal approvals, (e.g., buying office equipment for a company)., The cycle is longer and involves multiple steps.

What is the first step in the integrative approach?

Both sides share their interests and needs.

What is price gouging?

Business sets prices high during times of emergency

Something that has been bought before

How does a marketer influence the Evaluation step of the consumer decision making process?

Customer Reviews: Sharing positive feedback from other customers, Highlight Features: Clear details on product features, benefits, and specs., Product Demonstrations: Letting people try the product before buying., Promotions/Discounts: Offering discounts or promotions to attract buyers., Evaluation of Alternatives: Consumers compare products to decide the best., Comparative Advertise: Compare the product to rivals, emphasizing benefits.

Describe the two competing concerns explained in the Dual Concerns Model?

Concern for Others, Concern for Yourself

what is Market Density

about how many potential customers or businesses are in a particular area.

what is Modified Rebuy

Buying a product or service with some changes.

what common IMC support tools would a salesperson use during the Prospecting and Qualifying phase of the Sales process?

Content Marketing: Sharing/create content like blogs to attract prospects., Social Media Ads: helps find and connect clients., Email Campaigns: Emailing customers on product details., Referrals: Asking existing customers to refer potential customers., define: support tools to identify and evaluate potential customers., Webinars/Online Events: Hosting events to reach potential clients.

what is channel conflict?

Channels compete, harming product sales across stores and online., like stores, online shops, and distributors, This competition can lead to lower overall sales and profits.

What is the sixth step in the six sales process steps? Give two features identified in each step?

Following Up: Keeping the customer happy after the sale., Check if they’re satisfied with your product., Offer help or support if needed.

what is Value Equity?

How much customers believe price matches deal."

what is Sustainalytics

They rate companies by their environmental, social, and governance scores.

what areas do subcultures exist?

Fashion and Style, Music and Art, hobbies and interests, Social and Political Views, Technology and Innovation

What is personal selling?

a. Direct contact between a salesperson and a customer

What is the compromise negotiation strategy?

Characteristics: Medium assertiveness, medium cooperation., A strategy where both parties give up something to reach an agreement

What is the collaborative negotiation strategy?

A strategy where both parties work together to find a mutual solution., Characteristics: High assertiveness, high cooperation.

what is Limited Problem Solving

Define: Consumers decide with some care and thought.

What is hard selling?

Pressuring customers to buy quickly by being very forceful and persistent., A sales technique that involves aggressive and forceful tactics

what is consumer buying as related to each of the following: sales cycle?

Purchases are often made quickly, driven by emotions or immediate needs, The cycle is typically shorter and simpler.

What is planned obsolescence?

Product made not last long. so people have to replace

Which personal factor influences buying decisions?

Personality/Self-Concept: Your personality and self-view shape decisions., Age: Different age groups have different needs and preferences., Lifestyle: How you live your life, including your interests and activities., Economic Situation: Your financial status affects what you can afford., Occupation: Your job can influence what you need to buy., Values/Beliefs: Personal values and beliefs guide purchasing choices.

What is Syncratic decision-making?

Families or groups decide together, considering everyone's input.

What are the roles the decision-making units have in a hi-tech sector?

Technical Experts: They ensure technical aspects meet company needs., End-Users: They provide feedback on how the product works., Decision Makers: Make the final decision to purchase and approve by info., IT Staff: They ensure tech fits smoothly with current systems., Project Managers: They manage projects to meet goals and deadlines., Financial Analysts: They manage budgets, assessing costs and benefits.

What is ethical consumerism?

Buying that is not harmful to the environment or society

What is the fifth step in the six sales process steps? Give two features identified in each step?

Answer final questions they may have., Use persuasive offers, like discounts., Closing the Deal: Getting the customer to say yes.

Based on the Dual Concern Model, explain the five common styles involved in handling conflict?

Avoid: ignore conflict, don't deal with it: uncooperative/unassertive., Accommodate: give in to the other person. Style: cooperative/ unassertive., The collaborating style is high on both assertiveness and cooperation., Competing: You focus on winning the conflict. Competing style: Self-focus., Collaboration: You work together with the other person to find a solution., Compromising: Both sides give a little, meeting in the middle. Style, Equal

How does a marketer influence the Buy step of the consumer decision making process?

Fast Delivery: Offering quick delivery options., Define: Consumers complete the purchase of the product or service., Convenient Shopping Experience: Making it easy and pleasant to shop., Promotions: Using sales or discounts to encourage buying., Customer Support: Helping customers with questions or issues., Easy Payment Options: Making it simple to pay.

What is price discrimination?

Selling exactly the same good at different prices

What is corporate social responsibility?

Business' moral obligations to the community/environment

What is the difference between complex decision making and simple decision making?

Simple decision making is quick and straightforward., Complex decision making involves multiple factors and extensive research.

What is corporate social responsibility?

companies taking actions that improve their communities

What is the competitive negotiation strategy?

A strategy where one party tries to win at the expense of the other., Characteristics: High assertiveness, low cooperation.

What is the third step in the six sales process steps? Give two features identified in each step?

Handling objective: Learning what the customer needs., Show empathy and listen carefully., Ask questions to understand their problems.

What is the role of purchasers in organizational buying?

Procurement officer or a team buying on behalf of a company.

What are salespeople accountable to deliver?

Building Relationships: maintaining positive relationships with customers., Reporting: Tracking sales and reporting results to managers., Product Knowledge: Knowing products inside out for better sales., Sales Targets: Meeting or exceeding the sales goals set by their company., Customer Satisfaction: Making sure customers are happy with service.

Buying a product or service for the first time.

What is the main objective of consultative selling?

To understand the customer's needs and provide tailored solutions

What is the second step in the six sales process steps? Give two features identified in each step?

Introduce yourself or your business., Approaching: Starting the conversation., Build a good first impression.

What is the difference between a high- involvement purchase decision and a low-involvement purchase decision?

High-Involvement Purchase Decision: A decision requiring time and thought., Low-Involvement Purchase Decision: A quick and simple choice.

what is organizational buying as related to each of the following: Buying Process?

Decisions use logic, business needs, and budget analysis., It involves planning, research, and team approvals often.

How does solution selling differ from consultative selling?

Solution Selling: Providing custom solutions to unique issues., consultative selling: Helping customers by understanding needs and goals.

What are some of the ethical responsibilities of sales and marketing employees?

Fairness: treat all customers equally and not take advantage of anyone., Honesty: should always tell the truth about their products or services., Be nice to rival: Study and learn from others but never steal their ideas., High Personal Standards: Doing the right thing when no one is watching., Respect: Show respect for customers/needs.

What is the key to customer retention?

Providing excellent customer service to existing customers

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Comprehensive Overview of Marketing Concepts and Strategies-D077

108 termsStudBud Administration3 plays

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Questions 108

Answers

1
what is the fifth step of the customer life cycle?
retention
reach
conversion
Loyalty and Advocacy
2
Define Selective Perception
The tendency to exposure yourself information that reinforces ur beliefs
People recall data matching beliefs, ignoring what contradicts.
The control of the communication of information through a performance
The tendency to focus on certain cues and ignore others
3
What is non-experiential learning?
Learning through reading and studying
Learning through trial and error
Learning through observation and reflection
Learning through hands-on activities
4
what is organizational buying as related to each of the following: sales cycle?
Purchases often require discussions, negotiations, and formal approvals
(e.g., buying office equipment for a company).
none
The cycle is longer and involves multiple steps.
5
What is the first step in the integrative approach?
Focus on individual goals
Both sides share their interests and needs.
Cooperative Stance: Start negotiations by working together, not apart.
Compete for resources
6
What is price gouging?
Business sets prices low in order to beat out competition
Business sets prices high during times of emergency
Gov imposed, legal maximum price that can be charged
Gov imposed, minimum price that can be legally charged
7
A straight rebuy is
usually a consumable
something which has a contract
usually a direct product
Something that has been bought before
8
How does a marketer influence the Evaluation step of the consumer decision making process?
Customer Reviews: Sharing positive feedback from other customers
Highlight Features: Clear details on product features, benefits, and specs.
Product Demonstrations: Letting people try the product before buying.
Promotions/Discounts: Offering discounts or promotions to attract buyers.
Evaluation of Alternatives: Consumers compare products to decide the best.
Comparative Advertise: Compare the product to rivals, emphasizing benefits.
9
Describe the two competing concerns explained in the Dual Concerns Model?
none
Concern for Others
none
Concern for Yourself
10
what is Market Density
about how many potential customers or businesses are in a particular area.
none
none
none
11
what is Modified Rebuy
none
none
Buying a product or service with some changes.
none
12
What is the fourth step in the customer life cycle?
Acquisition
Retention
Awareness
Conversion
13
what common IMC support tools would a salesperson use during the Prospecting and Qualifying phase of the Sales process?
Content Marketing: Sharing/create content like blogs to attract prospects.
Social Media Ads: helps find and connect clients.
Email Campaigns: Emailing customers on product details.
Referrals: Asking existing customers to refer potential customers.
define: support tools to identify and evaluate potential customers.
Webinars/Online Events: Hosting events to reach potential clients.
14
what is channel conflict?
none
Channels compete, harming product sales across stores and online.
like stores, online shops, and distributors
This competition can lead to lower overall sales and profits.
15
What is reinforcement?
it deals with only negative punishments
it deals with only positive rewards
use of rewards and punishment
16
What is the sixth step in the six sales process steps? Give two features identified in each step?
Following Up: Keeping the customer happy after the sale.
none
Check if they’re satisfied with your product.
Offer help or support if needed.
17
what is Value Equity?
How much customers believe price matches deal."
none
none
none
18
what is Sustainalytics
They rate companies by their environmental, social, and governance scores.
none
none
none
19
what areas do subcultures exist?
Fashion and Style
Music and Art
hobbies and interests
Social and Political Views
none
Technology and Innovation
20
What is personal selling?
c. A business-to-business selling method
d. The pre-approach to selling
a. Direct contact between a salesperson and a customer
b. Telemarketing
21
What is the compromise negotiation strategy?
Characteristics: Medium assertiveness, medium cooperation.
A strategy where both parties lose in the negotiation
A strategy where one party benefits at the expense of the other
A strategy where both parties give up something to reach an agreement
22
What is the collaborative negotiation strategy?
A strategy where one party dominates the negotiation
A strategy where both parties work together to find a mutual solution.
A strategy where both parties lose in the negotiation
Characteristics: High assertiveness, high cooperation.
23
what is Limited Problem Solving
Level of Involvement: Moderate
Define: Consumers decide with some care and thought.
none
none
24
What is hard selling?
Pressuring customers to buy quickly by being very forceful and persistent.
A sales technique that relies on persuasive storytelling
A sales technique that focuses on building relationships
A sales technique that involves aggressive and forceful tactics
25
what is consumer buying as related to each of the following: sales cycle?
Purchases are often made quickly, driven by emotions or immediate needs
The cycle is typically shorter and simpler.
none
none
26
What is planned obsolescence?
Product made not last long. so people have to replace
planning for a war
Laziness
a type of suburb
27
Which personal factor influences buying decisions?
Personality/Self-Concept: Your personality and self-view shape decisions.
Age: Different age groups have different needs and preferences.
Lifestyle: How you live your life, including your interests and activities.
Economic Situation: Your financial status affects what you can afford.
Occupation: Your job can influence what you need to buy.
Values/Beliefs: Personal values and beliefs guide purchasing choices.
28
What is Syncratic decision-making?
none
none
Families or groups decide together, considering everyone's input.
none
29
What are the roles the decision-making units have in a hi-tech sector?
Technical Experts: They ensure technical aspects meet company needs.
End-Users: They provide feedback on how the product works.
Decision Makers: Make the final decision to purchase and approve by info.
IT Staff: They ensure tech fits smoothly with current systems.
Project Managers: They manage projects to meet goals and deadlines.
Financial Analysts: They manage budgets, assessing costs and benefits.
30
What is ethical consumerism?
An alternative method of trade that promotes sustainability
the creation of a product image compared with other products
FairTrade
Buying that is not harmful to the environment or society
31
What is the fifth step in the six sales process steps? Give two features identified in each step?
none
Answer final questions they may have.
Use persuasive offers, like discounts.
Closing the Deal: Getting the customer to say yes.
32
Based on the Dual Concern Model, explain the five common styles involved in handling conflict?
Avoid: ignore conflict, don't deal with it: uncooperative/unassertive.
Accommodate: give in to the other person. Style: cooperative/ unassertive.
The collaborating style is high on both assertiveness and cooperation.
Competing: You focus on winning the conflict. Competing style: Self-focus.
Collaboration: You work together with the other person to find a solution.
Compromising: Both sides give a little, meeting in the middle. Style, Equal
33
How does a marketer influence the Buy step of the consumer decision making process?
Fast Delivery: Offering quick delivery options.
Define: Consumers complete the purchase of the product or service.
Convenient Shopping Experience: Making it easy and pleasant to shop.
Promotions: Using sales or discounts to encourage buying.
Customer Support: Helping customers with questions or issues.
Easy Payment Options: Making it simple to pay.
34
What is price discrimination?
Selling slightly different goods at various prices
Selling the same good with different packaging
Selling exactly the same good at different prices
Selling at different prices in different shops
35
What is corporate social responsibility?
Business' moral obligations to the community/environment
When businesses get over their social anxiety
When corporate men are nice to one another
The business' aim to make profit
36
What is the difference between complex decision making and simple decision making?
Simple decision making is quick and straightforward.
Complex decision making is more time-consuming than simple decision making.
Complex decision making involves multiple factors and extensive research.
Simple decision making has only one option.
37
What is corporate social responsibility?
obeying all federal and state regulations
companies taking actions that improve their communities
obeying local government regulations
investing to maximize profits
38
What is the competitive negotiation strategy?
A strategy where both parties compromise on their demands
A strategy where both parties collaborate to achieve a common goal
A strategy where one party tries to win at the expense of the other.
Characteristics: High assertiveness, low cooperation.
39
What is the first step of the customer life cycle?
Conversion
Retention
Advocacy
Awareness/Reach
40
What is the third step in the six sales process steps? Give two features identified in each step?
none
Handling objective: Learning what the customer needs.
Show empathy and listen carefully.
Ask questions to understand their problems.
41
What is the role of purchasers in organizational buying?
Manage financial transactions
Develop marketing strategies
Handle customer complaints
Procurement officer or a team buying on behalf of a company.
42
What are salespeople accountable to deliver?
Building Relationships: maintaining positive relationships with customers.
Reporting: Tracking sales and reporting results to managers.
none
Product Knowledge: Knowing products inside out for better sales.
Sales Targets: Meeting or exceeding the sales goals set by their company.
Customer Satisfaction: Making sure customers are happy with service.
43
What is a new task?
Supplier evaluation
Routine reorder
Buying a product or service for the first time.
Modified order
44
What is the main objective of consultative selling?
To build strong relationships with customers
To use social media platforms to connect with potential customers
To understand the customer's needs and provide tailored solutions
To emphasize the features and benefits of a product
45
What is the second step in the six sales process steps? Give two features identified in each step?
Introduce yourself or your business.
none
Approaching: Starting the conversation.
Build a good first impression.
46
What is the difference between a high- involvement purchase decision and a low-involvement purchase decision?
High-Involvement Purchase Decision: A decision requiring time and thought.
none
Low-Involvement Purchase Decision: A quick and simple choice.
none
47
what is organizational buying as related to each of the following: Buying Process?
Decisions use logic, business needs, and budget analysis.
none
none
It involves planning, research, and team approvals often.
48
How does solution selling differ from consultative selling?
none
Solution Selling: Providing custom solutions to unique issues.
none
consultative selling: Helping customers by understanding needs and goals.
49
What are some of the ethical responsibilities of sales and marketing employees?
none
Fairness: treat all customers equally and not take advantage of anyone.
Honesty: should always tell the truth about their products or services.
Be nice to rival: Study and learn from others but never steal their ideas.
High Personal Standards: Doing the right thing when no one is watching.
Respect: Show respect for customers/needs.
50
What is the key to customer retention?
Expanding product offerings
Increasing advertising efforts
Offering discounts and promotions
Providing excellent customer service to existing customers
51
In consumer buying, who is the target market?
Focuses on individual shoppers
Non-profit organizations
Government agencies
Businesses and organizations
52
What is price fixing?
This agreement reduces competition and keeps prices high.
When two or more businesses in an industry agree to sell the same product
business agree to set the same price
Two or more businesses in an industry agree to sell a different product
53
What is the main goal of the accommodating negotiation strategy?
To find a win-win solution
One side gives in to the other’s demands to keep the relationship.
To avoid the negotiation
Characteristics: Low assertiveness, high cooperation.
54
what is Extended Problem Solving:
none
Level of Involvement: High. Consumers carefully compare and research.
Extended Problem Solving: buying decision that requires a lot of thought.
none
55
what is collaborative selling?
none
none
none
Collaborates with customers for best solutions.
56
What is bait-and-switch?
an ad of a low-priced item but then switch to buy a higher-priced one
it's illegal
Manipulating users to respond in kind to offensive, inflammatory headlines
to use something that someone else has done in order to get an advantage
57
What is the theory about individual motivation?
Self-Actualization Needs: The need for growth and achieving goals.
none
Love/Belonging Needs: The need for belonging and social connection.
Physiological Needs: Food, water, and shelter are vital needs.
Esteem Needs: The need for self-respect, recognition, and feeling valued.
Safety Needs: The need for security and protection.
58
What is the avoidance negotiation strategy?
A strategy where both parties lose
Characteristics: Low assertiveness, low cooperation.
Both sides avoid conflict and delay negotiation.
A strategy where both parties benefit
59
what is brand equity?
A strong brand makes people feel positive
how much customers trust and like trust a brand.
none
none
60
What is the main objective of transactional selling?
To offer the lowest price
To use high-pressure tactics
To focus on closing the sale
To build long-term relationships with customers
61
What is the core of personal selling?
Communicates Clearly: The salesperson simplifies product details clearly.
none
Follows Up: The salesperson follows up to ensure satisfaction.
Builds Trust: The salesperson builds trust with customers.
Customer Needs: The salesperson learns the customer's needs.
Provides Solutions: The salesperson provides solutions for customer needs.
62
What are the Five phases in Negotiations?
presentation: Put together facts you found that support your ideas.
determine your desired outcome: Consider your goals and options carefully.
closure: You both agree on terms, or one side rejects and leaves.
bargaining: Discuss goals, make compromises, and ask questions wisely.
none
Investigation: Start by gathering information, beginning with yourself.
63
What is a Trial Close?
Asking a question based off Question.
A Soft Close Technique
A salesperson asks if the customer is ready to buy.
A Hard Close Technique
64
what is Retention equity?
none
relationship equity is high, it mean the customer feel value/appreciate.
it's about the relationship between a customer and business.
mean the customers feel valued and appreciated and offers great service.
65
What is the difference between a distributive view and integrative view of negotiation?
none
Integrative: Everyone works together to find solutions for all.
Distributive: It's a contest where one person's gain is the other's loss.
none
66
What are the factors that influence B2B Sales? ) identifying characteristics if each influencing factors?
Price: The cost should make sense for the product.
Price: Buyers should feel they are getting good value for the price.
Product Quality: It should match what the buyer’s business needs.
Company Reputation: The company must be honest and dependable.
Customer Support: Buyers need help when they have problems.
Product Quality: The product should work well without problems.
67
What is Integrated Marketing Communications (IMC)?
integrates all promotional efforts to deliver one message about a product
delievers products to businesses
ships labels to companies
none of the above
68
What is an aspirational group?
A group you admire and want to join.
Coworkers
Family
All are correct
69
How does a marketer influence the Decision step of the consumer decision making process?
Special Offers: Giving discounts or deals to encourage buying.
Positive Reviews: Showing reviews from happy customers.
Guarantees/Warranties: Providing guarantees or warranties to reduce risk.
Easy Purchasing: Multiple ways to buy the product.
Define: Consumers decide which product or service to purchase.
Limited Time Offers: Creating a sense of urgency to buy quickly.
70
what is Newsweek
none
none
They work with research teams to rate firms' responsibility and impact.
none
71
Identify the six roles involved in the organizational buying center and describe their functions in the organization?
Buyers: complete purchases and negotiate terms and transactions.
Initiators: They identify needs and initiate the buying process.
Deciders: People who make the final decision. They approve the purchase.
Gatekeepers: They control info flow, deciding who gets what data.
Users: give feedback on how the product meets their needs.
Influencers: People give input and advice to guide buying decisions.
72
what is a pyramid scheme?
A scam in which a person hacks into your social media, bank, and email
business makes profits by recruiting many people and making them pay fees
A scam where payments from lower-level recruited employees pay high-level
business model that profits off adding others to the plan instead of sales
73
How does a marketer influence the search step of the consumer decision making process?
Influencer Marketing: Working with influencers to promote products.
Search Engine Optimization: Ensuring websites shows in search results.
Content Marketing: Creating helpful content like blog posts or videos.
Online Advertising: Putting ads on search engines and websites.
Social Media: Sharing information about products on social platforms.
Information Search: Consumers find info to resolve problems or needs.
74
What are the main drivers of consumer sales?
none
Customers are motivated by convenience, trends, and personal desires.
none
These focus on advertising, emotional appeal, and discounts.
75
What is the main goal of the conversion stage in the customer life cycle?
To build brand awareness
To attract new customers
To retain existing customers
To turn prospects into paying customers
76
What is the digital approach to personal selling?
Maximizing short-term sales through online advertising
Using social media to build relationships with customers
Providing personalized solutions through email marketing
Creating brand awareness through influencer marketing
77
What is Fair Trade?
Bartering goods
When stores trade with other stores
Discounted goods
help Producers get a fair price and good working conditions
78
What is the role of Acquisition in the customer life cycle?
To build brand awareness
To retain existing customers
To attract new customers
To upsell to current customers
79
What are sub-cultures?
Subcultures are smaller groups with unique traits within larger cultures.
none
none
none
80
what is Routine Problem Solving
none
none
Level of Involvement: Low.
Define: Simple purchases made with ease and speed.
81
What is the main objective of relationship selling?
To offer the lowest price
To build long-term relationships with customers
To use high-pressure tactics
To focus on closing the sale
82
What is the first step in the six sales process steps? Give two features identified in each step?
none
Focus on people who need your product.
Gather contact information.
Prospecting: Finding potential customers.
83
what is the second step of customer life cycle?
Retention
Acquisition
Conversion
Reach
84
What is revenue?
the amount of money left after all expenses are taking out
the money you have left over from your paycheck
the amount of money you make in your paycheck before taxes
total income generated from selling products & services
85
Identify at least 2 products that will satisfy each level of human needs?
none
Self-Actualization Needs: Books:
Safety Needs: Home Security System
Love and Belonging Needs: Social Media Platforms:
Esteem Needs: Awards and Trophies
Physiological Needs: bottle water
86
What is the main advantage of adaptive selling?
It ensures every sales call follows the same script
It eliminates the need for preparation
It allows salespeople to tailor their approach based on the customers needs
If focuses only on product specification
87
What are the factors that influence B2B Sales? ) identifying characteristics if each influencing factors?
Technology: The product should use the latest tools or systems.
Market Conditions: If people need the product, it helps sales.
Relationship: Building trust ensures strong bonds and repeat business.
Delivery: The product should arrive when promised and be smooth and easy.
Market Conditions: Other companies sell similar products affect decisions.
Company Reputation: have done good work with other businesses before.
88
What are the main drivers of organizational sales?
Price and value
Product quality
Customer service
Marketing and advertising
89
What is the main difference between structured and unstructured presentations?
Structured presentations: Information is presented in a logical sequence.
Unstructured presentation: is flexible and doesn't follow a strict order
Unstructured presentation: can reply to the audience question and feedback.
Structured presentation: well organized and follow a specific order/outline
90
What is branding?
Make your product or company stand out with a special name, logo, design.
Using the same name, logo, and message across all marketing materials.
To advertise or promote something
Creating a unique identity for a product, company, or service.
91
what common IMC support tools would a salesperson use during the handling objections phase of the Sales process?
Product Brochures: booklets that provide information about the product
Case Studies: Real-life Examples of products solving customer issues.
Comparison Charts: Charts comparing products to competitors' items.
Demonstrations: Live or recorded demos showing how the product works.
Define: support tools to address customer concerns and objections.
Testimonials: Positive reviews and experiences from satisfied customers.
92
What does the Internet of Things (IoT) enable?
Video streaming services
Faster computer processing speeds
Only computers to access Wi-Fi
Objects and devices to connect and communicate through the internet
93
What is the main objective of solution selling?
Building relationships
Solving customer problems
Closing deals
Managing inventory
94
What is a mission statement
a summary describing a companies/Indivual function
A short description of a company's purpose and goals.
Statement giving strategic direction for company/individual
Declarative sentence summarizing specific goals of a documt
95
What does kickback mean?
To be supportive
A type of dance move
A bribe or gifts in return for special treatment or to secure a deal.
To question or challenge
96
what is the main goal of Advocacy in customer life cycle?
turning a customer into an advocate for the company
none
none
none
97
What is "experiential learning"?
New style of learning
Learning through experience
Learning through mistakes
Adapting to situation
98
What is the second step in the integrative approach?
Establish trust
Identify interests
Listening: Listen closely to build trust and reach understanding.
Evaluate alternatives
99
what are the four reasons for B2B sales processes having fewer controls than B2C processes?
Price negotiated: Prices change; sellers and buyers agree on price.
Relationships Matter: Understand need to adjust how you sell to match them
Communication: Discuss product and price directly with the buyer."
Big Deals Need Special Care: Big, tricky deals need carefully made plans.
100
Which interpersonal factors impact buying decisions?
none
Family: Family members can influence what we buy.
Social Media: Influencers and online communities can impact our choices.
Culture: Cultural norms and values can shape what we buy.
Friends: Friends influence choices through recommendations or preferences.
Social Groups: Group memberships shape buying decisions and preferences.
101
What type of vertical marketing system is a franchise?
Contract Agreement: Franchisor, franchisee agree on partnership terms.
none
Franchisor: The company that owns the brand (like McDonald's).
where different businesses agree to work together under a contract.
Franchisee: Someone who buys rights to use a brand name/ sell its products
(like a local McDonald's owner).
102
What is the third step of the customer life cycle?
Awareness
Acquisition
Retention
Conversion
103
Who is the target market in organizational buying?
Businesses
Non-profit organizations
End consumer
Government agencies
104
What is the fourth step in the six sales process steps? Give two features identified in each step?
Highlight its benefits and value.
none
Show how it solves their problem.
Presenting: Explaining your product or service.
105
What does AI do?
Helps computers do fun and helpful things that we never thought possible.
All of the above.
Helps computers learn and think a little bit like how people do.
Comes up with answers to our questions based on the information it has.
106
what is consumer buying as related to each of the following: Buying Process?
Decisions are made by individuals or families, often on impulse
Because they create the product
It's usually faster and based on personal preferences or emotions.
Because they provide feedback to the seller
107
What is a reference group?
People use this group to guide their own choices.
A group you belong to
A group you aspire to join
A group you avoid
108
What is the role of purchasers in consumer buying?
buying personal items
Advertise products
Design products
Provide customer service

Comprehensive Overview of Marketing Concepts and Strategies-D077 Flashcards | StudBud