OPEN QUIZ: Chapter-7 1 mark gr Question. Total 20 Marks 1. Customer satisfaction arises 'om: A) the product itself. B) what others think about them owning the product. C) the salesperson who sells and services the product. D) a combination of the product, company, and salesperson. E) the company that makes or distributes the product. The decisions, activities, and communication strategies that are directed toward trying to create and maintain a rm's intended product concept in the customer's mind are known BS: A) product life cycle. B) adoption curving. C) potential product. D) product positioning. E) value-added concept. Which of the following statements about positioning products is false? A) It may be necessary to reposition products several times in their life. B) Advertising directed toward a mass market will often fail to position a complex product. C) Salespeople have assumed an important role in positioning products. D) Product positioning applies to both new and existing products. E) The best way to position new products is setting a low price. La Mirage, a hotel in the ski resort town of Whistler, BC, offers off-season pricing to encourage conference room bookings during the summer. This is an example of: A) seasonal pricing. B) promotional allowance. C) trade pricing. D) discount pricing. E) low price strategy. 5. In order to bring the Ryan Hotel and Convention Centre up to industry standards, each guest room was redecorated with new wallpaper, drapes, carpeting, mattresses, and sofas. Annie Delia, sales manager for the Centre, has recommended that guest rooms be upgraded with the addition of wide desks, larger TV's, improved internet, and 24-hour room service. From the viewpoint of most business travelers, this change would result in the creation of a(n): A) value-added product. B) generic product. C) expected product. D) potential product. SPROTT SHAW COLLEGE PAGE 1 OF 4 0521\\OPEN QUIZ-7\\BUSINESS SPROTT SHAW OPEN QUIZ 7 COLLEGE MK121 - SALES STRATEGIES - 2021 TO TEACH TO GUIDE TO LEARN E) hyper-premium product. 6. Mohini has agreed to display a large poster of "Ringo Star" Sauce and devote a corner of her store to display "Ringo Star" Sauces. In return the salesperson from "Ringo Star" Sauces gives Mohini a price reduction. This is an example of a: A) "a special." B) promotion allowance. C) time period pricing. D) quantity discount. E) price discount.7. The Ritz Carlton must offer not only a comfortable guest room, but also a clean one. This is an example of a(n) product. A) hyper-premium B) expected C) potential D) value-added E) generic 8. Most retailers will not allow food or beverages in their stores. Alive & Well offers free beverages to their customers. This is an example of offering customers a(n): A) expected product. B) hyper-premium product. C) generic product. D) potential product. E) value-added product. 9. In relationship selling, when you invest in developing a good understanding of the customer's needs and problems, it is called: A) positioning. B) perception analysis. C) customer satisfaction. D) win-win strategy. E) value creation. 10. As the level of competition increases, especially in the case of a mature product, salespeople must look more carefully into the product. A) generic B) potential C) hyper-premium D) value-added E) expected 11. A_l_l_ _(_)_f the following statements about pricing policies are true, except: A) Low price means more value in transactional selling. SPROTT SHAW COLLEGE PAGE 2 OF 4 0521\\OPEN QUIZ-7\\BUSINESS __________________________________________________________________________________________________________________________________________________________________________________ \"m" OPEN QUIZ 7 i SHAW I COLLEGE MK1'21 SALES STRATEGIES 2021 ! TO TEACH TO GUIDE TO LEARN i B) Some companies maintain a pricing strategy that focuses on meeting competition. C) Economic theory says that more people will want a product at a lower price than at a higher price. D) The ability to offer the lowest price is usually the most critical factor in the sale of products and services. E) Pricing strategies often reect the product's position in the product life cycle. 12. When Dimitri offers a price discount to Kim for buying larger quantities of a product, he is offering a(n): A) price discount. B) deal. C) quantity discount. D) trade discount. E) illegal discount. E) unangmg customer naoits l4. Devon's customers want information on the product, the company, and the salesperson. In this case they are seeking: A) strategic selling. B) customer-oriented selling. C) a cluster of satisfaction. D) value-based selling. E) transactional selling. 15. When a price-conscious buyer has a low-price buying strategy and does not see the value of some of the features, it is a good idea to sell to such customers by: A) reducing the price to what they are willing to pay. B) suggesting a competitor's lower priced product. C) providing a "cluster of satisfactions." D) educating them about the value of those features. E) "unbundling" those product features and offering them cost savings. 16. When Madeline is proposing her solutions to satisfy a customer's needs, she realizes that her customers are buying not only her services, and the product she sells, but also: A) peace of mind. B) the company she works for. C) improved warranties. D) after-sales service. SPROTT SHAW COLLEGE PAGE 3 OF 4 0521\\OPEN QUIZ-7\\BUS|NESS OPEN 00:2 7 a . MK121' SALES STRATEGIES 2021 E : TO TEACH TO GUIDE TO LEARN E E) new and improved features. 17. When Jennifer makes decisions, engages in activities, and communicates with the purpose to create and maintain her firm's intended product concept, she is engaging in: A) brand imaging B) relationship positioning. C) product management. D) product positioning. E) relationship management. 18. When Julia tries to create the perception that her product is the highest quality product in her industry, she is engaging in: A) brand imaging. B) product positioning. C) relationship positioning. D) product management. E) relationship management. 19. Which of the following refers to an organization's ability to separate their product from their competitors? A) Brand imaging B) Differentiation C) Relationship positioning D) Product management E) Relationship management 20. A is the set of benefits and values the company promises to deliver to customers to satisfy their needs. A) corporate culture B) value proposition C) value position D) product strategy E) differentiation strategy