Concepts in Marketing, Sales, and Customer Contact (NB01) D077
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Free Concepts in Marketing, Sales, and Customer Contact (NB01) D077 Questions
Which compilation of external factors can affect quota development
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Customer acquisition cost
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Market potential
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Win-loss analysis
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Past sales performance
Explanation
Correct Answer:
b) Market potential
Explanation:
Market potential refers to the overall demand or opportunity in the market that can influence how quotas are set. A higher market potential means greater opportunities for sales, which would be reflected in the quota development process.
Why other options are wrong:
a) Customer acquisition cost is an internal factor related to how much the company spends to gain a customer, but it doesn’t directly influence quota development based on external factors.
c) Win-loss analysis is focused on evaluating past sales outcomes, which provides insights for improving sales strategies but is more of an internal factor than an external one.
d) Past sales performance is useful for quota development, but it is an internal factor that reflects historical results rather than external market conditions.
What is one advantage of a salary plus commission pay structure
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It decreases the complexity of administration.
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It removes extrinsic rewards for employees to excel
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It increases financial stability for employees.
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It adds the necessity for pressure sales tactics
Explanation
Correct Answer:
c) It increases financial stability for employees.
Explanation:
A salary plus commission pay structure provides employees with a fixed base salary, offering them financial stability, while still allowing for additional income based on their sales performance. This balance helps employees feel secure while also motivating them to perform well.
Why other options are wrong:
a) A salary plus commission pay structure may actually add complexity to administration because it involves tracking both fixed salaries and variable commissions.
b) The structure actually provides extrinsic rewards through the commission, motivating employees to excel in their performance.
d) While commission can encourage sales, it doesn't inherently necessitate pressure sales tactics, as employees still have the base salary for security.
To advance a product, a marketing manager seeks to create a picture of how different competitors are placed in the market based on key criteria that strongly influence customer decisions among the target market. The manager identifies two key criteria that should outperform the competition. Which technique is being used by the manager
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Marketing mix
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Environmental analysis
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Creative brief
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Positioning map
Explanation
Correct Answer:
d. Positioning map
Explanation:
A positioning map visually plots competitors based on key criteria that are important to consumers, such as price, quality, or features. It helps identify where a product stands in relation to competitors and highlights areas for improvement.
Why the other options are incorrect:
a. Marketing mix. – The marketing mix refers to the 4Ps (Product, Price, Place, Promotion) and is a broader strategy, not a tool for comparing competitors.
b. Environmental analysis. – Environmental analysis looks at external factors affecting the business environment but is not specifically about positioning against competitors.
c. Creative brief. – A creative brief is a document that outlines the strategy for a marketing campaign but does not focus on competitor analysis.
A small tobacco shop that just opened wants to run advertising on a local radio station. When they approach the radio station's sales department, they find that the station will not run their ad. What type of uncontrollable element prevents the running of this advertisement
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Environmental
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Legal
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Cultural
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Social
Explanation
Correct Answer:
B.) Legal
Explanation:
The radio station's refusal to run the tobacco shop's ad is likely due to legal restrictions regarding tobacco advertising. Many countries and regions have regulations that prohibit or restrict the promotion of tobacco products on certain media platforms.
Why the other options are wrong:
A.) Environmental: Incorrect because environmental factors usually refer to external factors such as climate or ecological concerns, not legal restrictions.
C.) Cultural: Incorrect because cultural factors refer to societal norms and values, but this situation pertains to legal regulation.
D.) Social: Incorrect because social factors involve community and public attitudes but do not directly affect legal permissions regarding advertising.
An organization needs to purchase five new copiers. The organization decides to obtain all of its office supplies, as well as service for the new copiers, from a preferred provider to negotiate a better price for the copiers. Which type of supplier is the organization using in this scenario
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Niche differentiated
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Single source
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Multiple bid
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Network referred
Explanation
Correct Answer:
b) Single source
Explanation:
The organization is using a "single source" supplier in this scenario. By purchasing both the copiers and the related office supplies and services from the same provider, the organization is consolidating its purchasing with one supplier. This often helps negotiate better prices and simplifies the procurement process.
Why other options are wrong:
a) "Niche differentiated" suppliers provide specialized products or services, but this is not the case in this scenario, where the organization is consolidating with one supplier for multiple needs.
c) "Multiple bid" refers to a scenario where a buyer seeks offers from several suppliers, which is not the case here, as the organization is dealing with a single provider.
d) "Network referred" suppliers are typically those recommended through business networks or word-of-mouth, but there is no indication that this is the method the organization used to select the supplier
All of a company's employees were required to complete a survey. Which ethical consideration has the company violated
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Failing to get consent
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Stereotyping
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Practicing discrimination
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Asking leading questions
Explanation
Correct Answer:
A.) Failing to get consent
Explanation:
The company has violated the ethical consideration of failing to get consent. Requiring employees to complete a survey without their voluntary participation could be seen as coercive, as individuals must be informed about the purpose of the survey and agree to participate.
Why the other options are wrong:
B.) Stereotyping: Incorrect because the company has not specifically been accused of making assumptions based on characteristics or groups.
C.) Practicing discrimination: Incorrect because the scenario does not describe unequal treatment based on characteristics like race, gender, etc.
D.) Asking leading questions: Incorrect because there is no mention of how the survey questions were framed. The main ethical issue is about consent.
Which ethical practice should be used to enrich the information obtained from focus groups
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Use closed-ended questions.
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Allow users to modify questions.
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Ask leading questions.
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Create clear questions.
Explanation
Correct Answer:
D.) Create clear questions.
Explanation:
Creating clear and unbiased questions is an ethical practice that helps ensure participants' answers are not influenced by the wording of the questions. This helps gather accurate and reliable information from focus groups.
Why the other options are wrong:
A.) Use closed-ended questions: Incorrect because closed-ended questions limit responses and may not allow participants to express their thoughts fully.
B.) Allow users to modify questions: Incorrect because modifying questions can introduce bias, and it’s important to maintain consistency in the questioning process.
C.) Ask leading questions: Incorrect because leading questions can bias the responses and compromise the ethical integrity of the data collection.
A vice president (VP) of sales is preparing a budget for the next fiscal year. The sales pipeline has a lot of potential customers, but the VP needs to know how many sales to budget for in the coming year. Which tool should the company use to determine this information
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Customer attrition
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Sales performance monitoring
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Social media engagement
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Predictive forecasting
Explanation
Correct Answer:
d) Predictive forecasting
Explanation:
Predictive forecasting uses historical data, trends, and analytics to predict future sales. This will allow the VP of sales to estimate how many sales are likely to close from the current sales pipeline, providing a more accurate budget for the coming year.
Why other options are wrong:
a) Customer attrition refers to the loss of customers, which doesn't help with forecasting future sales.
b) Sales performance monitoring tracks current and past performance but doesn't predict future sales from potential customers.
c) Social media engagement is useful for marketing insights but not for accurately forecasting future sales based on the pipeline.
A furniture manufacturer receives production materials only when it is ready to produce customers' orders. Which buying process is being used by this manufacturer
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Just-in-time
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Supply chain
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Co-marketing
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Distribution
Explanation
Correct Answer:
a) Just-in-time
Explanation:
The manufacturer is using the "just-in-time" (JIT) buying process. This approach involves receiving materials only when needed for production, which reduces inventory costs and minimizes waste. The JIT method aligns the timing of materials delivery closely with the production schedule.
Why other options are wrong:
b) "Supply chain" refers to the broader process of managing the flow of goods from suppliers to the final customer, but it does not specifically describe the timing and inventory control approach like JIT.
c) "Co-marketing" refers to joint marketing efforts between businesses, not the process of acquiring materials for production.
d) "Distribution" refers to the process of delivering products to customers, which is different from receiving materials for production in the manufacturing process.
Which component of the market planning process addresses the actions associated with a marketing strategy
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Situation analysis
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Tactical planning
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Internal resources
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External analysis
Explanation
Correct answer:
B) Tactical planning
Explanation:
Tactical planning is the part of the market planning process that focuses on the specific actions and activities that need to be undertaken to execute the marketing strategy. It outlines the "how" of the strategy.
Why the other options are wrong:
A) Situation analysis: This involves analyzing the current market situation and the company’s position, but it doesn't focus on the specific actions to execute the strategy.
C) Internal resources: This refers to the company’s capabilities and resources, which are important for planning, but it does not directly address the actions required to implement the strategy.
D) External analysis: This refers to understanding external factors like market trends and competition, but it is not focused on the tactical steps for executing the marketing strategy.
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