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Question
Explain the concept of opportunity cost, giving at least one example from your life.Answer
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Related questions
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Pfizer pharmaceutical representatives call on physicians to influence them to prescribe the latest Pfizer medications over competing products. However, no sale is made until doctors call prescriptions into pharmacies that then place orders through their drug wholesalers. What type of sales position do these Pfizer pharmaceutical representatives hold, and what are their job responsibilities?
Q:
A missionary salesperson stimulates demand for a product and is therefore a major part of the close of the sale.
Q:
Personal selling is crucial in business-to-business marketing, especially when the deal involves intense price negotiations.
Q:
Voice-over internet protocol (VoIP) systems enable salespeople to ________.
A) access data from key partners
B) deliver text messages to key customers through a short-messaging system
C) track all aspects of customer interaction
D) avoid the capital outlay of a CRM system
E) make and receive phone calls anywhere just as though they were in the office
Q:
What type of software links information between selling and buying firms?
A) CRM (customer relationship management)
B) PRM (partner relationship management)
C) TQM (total quality management)
D) PR (public relations)
E) VoIP (Voice-over Internet Protocol)
Q:
Factors that increase a firm's emphasis on ________ include purchases that are "new tasks" for a customer and transactions that require negotiation.
A) m-commerce
B) mass marketing
C) public relations
D) direct marketing
E) personal selling
Q:
According to an axiom in marketing, the more ________ the product, the more heavily firms tend to rely on personal selling to promote it.
A) popular
B) available
C) intangible
D) impersonal
E) marketable
Q:
Which of the following communication and promotion tools involves establishing direct connections with customers aimed toward building crucial relationships?
A) personal selling
B) advertising
C) e-commerce
D) publicity
E) m-commerce
Q:
Why are people reached by direct mail better prospects for a company than those reached by mass media such as television or magazines?
Q:
A producer of beverages and snack foods wants to market its products to the 14-to-22-year-old demographic, providing incentives to respond instantly to time-sensitive offers. Which of the following forms of direct marketing would this producer most likely choose?
A) direct-response TV
B) m-commerce
C) telemarketing
D) catalog marketing
E) direct mail
Q:
The "m" in m-commerce stands for ________.
A) market
B) mobile
C) message-oriented
D) millennial
E) marketspace
Q:
The National Do Not Call Registry was established by which of the following?
A) the Federal Trade Commission (FTC)
B) the Direct Marketing Association (DMA)
C) the Consumer Review
D) the American Marketing Association (AMA)
E) the Robinson-Patman Act
Q:
Which of the following is NOT a form of direct marketing?
A) mass marketing
B) catalogs
C) direct mail
D) telemarketing
E) m-commerce
Q:
Explain the buzz building form of viral marketing. What are the aims of viral marketing, and how are they accomplished? Give an example of a successful viral marketing campaign.
Q:
A brand community can be created by marketers or can develop on its own among consumers.
Q:
Which of the following is a service that lets users post short text messages to followers who subscribe to their microblog?
A) Second Life
B) LinkedIn
C) Facebook
D) Twitter
E) Yelp
Q:
When the Pharmaceutical Manufacturers Association spent eight million dollars creating and placing a print campaign arguing that the most expensive drugs represent just five percent of national health care expenditures, the association was using public relations.
Q:
A manufacturer of toilet tissue sent its brand mascot to help refurbish restrooms at fairgrounds across the country. As part of this project, each restroom was to provide fairgoers with a clean oasis featuring aromatherapy, soothing music, constant maintenance, and premium toilet tissue. Newspaper articles about the company's role in making restrooms inviting are an example of ________.
A) corporate advertising
B) a sales promotion
C) media planning
D) publicity
E) sponsorship
Q:
Planning and implementing special events are typically responsibilities of ________.
A) a planning agency
B) a full-service agency
C) creative services
D) the PR department
E) the sales promotion department
Q:
Which of the following is a relatively inexpensive objective measurement that public relations (PR) specialists can use to gauge the effectiveness of their efforts?
A) personal evaluation of PR activities
B) opinion surveys among the firm's publics
C) coverage in print and broadcast media
D) gross ratings points (GRP)
E) cost per thousand (CPM)
Q:
Southern Security makes safes for storing valuables. When Ed sold safes for the company, he would deal with a prospect's concerns such as the cost of the safe and then ask, "Are you ready to purchase a safe for your family, or are there other concerns that we need to discuss?" When Ed asked this question, he was ________.
A) using a last objection close
B) fostering a transactional relationship
C) anticipating objections
D) engaging in the approach stage of the creative selling process
E) using a standing-room-only close
Q:
As the salesperson entered the prospect's office, the salesperson extended his hand and said, "Your old college roommate Tiara Johns suggested I call on you." This action occurred in which stage of the creative selling process?
A) approach
B) prospect and qualify
C) preapproach
D) close
E) follow-up
Q:
In which step of the sales process would the salesperson call to ensure customer satisfaction and repeat business?
A) approach
B) presentation
C) handle objections
D) close the sale
E) follow-up
Q:
The salesperson contacts the customer for the first time in the ________ step of the creative selling process.
A) preapproach
B) prospect
C) approach
D) presentation
E) qualify
Q:
Without prior introduction or arrangement, telemarketers telephone your home and business offering to sell you a variety of products. These telemarketers engage in what form of prospecting?
A) referring
B) cold calling
C) networking
D) direct selling
E) qualifying
Q:
Prospect and qualify is the step in the creative selling process in which the salesperson ________.
A) meets the customer for the first time
B) learns as much as possible about a prospective customer before making a sales call
C) identifies potential qualified customers
D) conveys the product's competitive advantages to a potential customer
E) clarifies and overcomes a customer's concerns about buying
Q:
Explain the difference between the practices of forward buying and diverting.
Q:
Service ________ means that a firm cannot store its services.
A) intangibility
B) perishability
C) inseparability
D) variability
E) personalization
Q:
Capacity management is one of the ways to meet potential problems related to the ________ characteristic of services.
A) intangibility
B) perishability
C) variability
D) inseparability
E) responsiveness
Q:
Four characteristics are used to differentiate services from goods. Which of the following is NOT one of those characteristics?
A) intangibility
B) perishability
C) variability
D) personalization
E) inseparability