COURSE CODE MGT965 Name QUIZ 1 SET A Roll No. SECTION Max. Marks 20 Marks DATE 05/04/12 Max.

Time 45 Minutes 1. Suppose you are going to sell mutual fund to customer and he refuses the same. What will you do? Learn to manage disappointment When a sale is lost: Make sure the deal is really dead Review chain of events Interview the client Obtain feedback

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Being a Sales manager at the telecom company, what sources will you use to sell products? Sources can be referrals , Telemarketing, e- mails etc.

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Is telemarketing is part of Personal Selling? Yes Give any example of strategic alliance? Tata-Fiat, Kingfisher-Jet

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Why personal selling is gaining so much importance these days? Because of 1) Major advances in information technology 2) Business is defined by customer relationships 3) Sales success depends on creating and adding value for the customer

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Why emotional intelligence is important for Salesperson? By emotional intelligence, sales person are able to manage their emotions and those of others And by which they are able to motivate themselves and other also. Page 1 of 7

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What are the three prescriptions of Relationship strategy? Project positive, professional image Practise communication-style flexing Behave ethically

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Write some of strategies for self improvement? Set goals Use visualization Use positive self-talk Reward your progress

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Draw Communication Style Model.

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In recent advertisements, most of companies are talking about solutions not product. Give examples for same along with justification? Examples can be Clinic All Clear , Head and Shoulder, Asian Paints, HDFC Standard Life etc.

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How can you achieve Industry Expertise? Page 2 of 7

Starts in college Read trade journals Regularly attend industry seminars and conventions Become active in industry associations

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How can you cope with reluctance in Selling? It can be done by more and more practicing

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While you are going to sell some product/ service to customers, they are having some common kind of concerns. What are they? Need for the product Product or service Source of the product Time Price

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What is the difference between price and cost? Price represents the initial amount the buyer pays for the product. Cost represents the amount the buyer pays for a product as it is used over time.

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What are the three types of Expansion Selling ? Up, Cross and Full line

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What do you mean by customer attrition? How many customers stop using the products/services organization

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What are main reasons for customer attrition? Poor Services, Price and Product Dissatisfaction

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Suppose you are going to sell your insurance product and the customer is talking on phone and does not paying any attention towards you, how will you handle the same? Stay as businesslike as possible Be efficient, time disciplined, and organized Identify their goals Ask questions and note responses

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Suppose you are going to sell product to customer and he said that my budget is only 1000 Rs while your product is of 2000 Rs, what will you do over there? The best approach is to take the budget limitation seriously and use appropriate negotiation strategies. -One strategy is to reduce the price by eliminating some items, described as unbundling.

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What are the various closing clues and how you can recognize the same? Nonverbal clues Facial expression changes Prospect nods agreement Leans toward you Examines product literature intently

Verbal clues Questions Recognitions Page 4 of 7

Requirements

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What do you mean by Balance Sheet Close?

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What precautions you will take while selling to supportive?

Take time to build the relationship Listen carefully to their opinions and feelings Provide assurances for their views Have patience and give them time to comprehend

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These days customer service is getting a lot of emphasis, what are current developments in service sector these days? Salespeople spend more time monitoring customer satisfaction Customer knowledge is viewed by sales and support personnel as an important key to improving customer service Customer-friendly, computer-based systems are frequently be used to enhance customer service

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Suppose you have sold 1 car to customer and it is getting lots of problem because of which customer is very irritated. How will you handle the complaint? Let customers disclose feelings Keep in mind that it doesnt matter whether the complaint is real or perceived Page 5 of 7

Politely share your view of problems cause Decide on action to remedy

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What are common post sale services? Make credit arrangements Schedule deliveries Monitor installations Offer training in the use or care of the product Provide price change information Prevent postsale problems

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Suppose you are sales person at hotel and customer come the renting the room at least cost but you have persuaded the same to go for higher class room. What is this called? Upselling

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Define Cross Selling? Selling products not directly associated to those already sold to established customer Additional source of business Buyers like single-source convenience Most effective when salesperson/customer enjoy true partnership

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What is benefit of negotiation worksheet? Although we cant anticipate every possible problem, the negotiations worksheet helps identify the problems most likely to arise and by which we can solve the problem.

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What are main objectives of Presentation strategy? To Inform, to persuade, to remind.

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How can you make credibility with customer? It must be establish early and don not erode it by going late. First impression is very important.

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