{"id":77642,"date":"2018-02-20T23:50:30","date_gmt":"2018-02-20T23:50:30","guid":{"rendered":"https:\/\/writemyessayfree.com\/wku-mkt220-exam-5-fall-2014"},"modified":"2017-08-18T07:15:32","modified_gmt":"2017-08-18T07:15:32","slug":"wku-mkt220-exam-5-fall-2014","status":"publish","type":"post","link":"https:\/\/www.benedictsol.com\/blogs\/wku-mkt220-exam-5-fall-2014\/","title":{"rendered":"WKU MKT220 exam 5 fall 2014"},"content":{"rendered":"<h3>QUESTION 1<\/h3>\n<ol>\n<li>\n<fieldset>\n<legend>When determining markup as a percentage of cost, divide the markup amount by<\/legend>\n<table>\n<tbody>\n<tr>\n<td><\/td>\n<td>a.<\/td>\n<td><label>100.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>b.<\/td>\n<td><label>price.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>c.<\/td>\n<td><label>revenue.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>d.<\/td>\n<td><label>quantity.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>e.<\/td>\n<td><label>cost.<\/label><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/fieldset>\n<\/li>\n<\/ol>\n<p>2 points <\/p>\n<h3>QUESTION 2<\/h3>\n<ol>\n<li>\n<fieldset>\n<legend>The \u201cWhite Sale\u201d that many department stores have every year a few weeks after Christmas is an example of<\/legend>\n<table>\n<tbody>\n<tr>\n<td><\/td>\n<td>a.<\/td>\n<td><label>off-peak pricing.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>b.<\/td>\n<td><label>secondary pricing.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>c.<\/td>\n<td><label>periodic discounting.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>d.<\/td>\n<td><label>captive pricing.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>e.<\/td>\n<td><label>random discounting.<\/label><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/fieldset>\n<\/li>\n<\/ol>\n<p>2 points <\/p>\n<h3>QUESTION 3<\/h3>\n<ol>\n<li>\n<fieldset>\n<legend>A sale that advertised prices \u201cup to 65 percent off\u201d the original price uses<\/legend>\n<table>\n<tbody>\n<tr>\n<td><\/td>\n<td>a.<\/td>\n<td><label>bait pricing.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>b.<\/td>\n<td><label>psychological pricing.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>c.<\/td>\n<td><label>periodic discounting.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>d.<\/td>\n<td><label>tensile pricing.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>e.<\/td>\n<td><label>random discounting.<\/label><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/fieldset>\n<\/li>\n<\/ol>\n<p>2 points <\/p>\n<h3>QUESTION 4<\/h3>\n<ol>\n<li>\n<fieldset>\n<legend>If Kroger Food Stores advertises 2-liter bottles of Pepsi for 89 cents to generate store traffic that will purchase other items at regular prices, the grocer is using<\/legend>\n<table>\n<tbody>\n<tr>\n<td><\/td>\n<td>a.<\/td>\n<td><label>special-event pricing.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>b.<\/td>\n<td><label>reference pricing.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>c.<\/td>\n<td><label>a price leader.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>d.<\/td>\n<td><label>professional pricing.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>e.<\/td>\n<td><label>comparison discounting.<\/label><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/fieldset>\n<\/li>\n<\/ol>\n<p>2 points <\/p>\n<h3>QUESTION 5<\/h3>\n<ol>\n<li>\n<fieldset>\n<legend>Price leaders, comparison discounting, and special-event pricing are applications of<\/legend>\n<table>\n<tbody>\n<tr>\n<td><\/td>\n<td>a.<\/td>\n<td><label>professional pricing.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>b.<\/td>\n<td><label>product-line pricing.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>c.<\/td>\n<td><label>bait-and-switch.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>d.<\/td>\n<td><label>promotional pricing.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>e.<\/td>\n<td><label>psychological pricing.<\/label><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/fieldset>\n<\/li>\n<\/ol>\n<p>2 points <\/p>\n<h3>QUESTION 6<\/h3>\n<ol>\n<li>\n<fieldset>\n<legend>Most pricing objectives based on ____ are achieved by trial and error because not all cost and revenue data are available when prices are set.<\/legend>\n<table>\n<tbody>\n<tr>\n<td><\/td>\n<td>a.<\/td>\n<td><label>return on investment<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>b.<\/td>\n<td><label>survival<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>c.<\/td>\n<td><label>cash flow<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>d.<\/td>\n<td><label>market share<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>e.<\/td>\n<td><label>profit<\/label><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/fieldset>\n<\/li>\n<\/ol>\n<p>2 points <\/p>\n<h3>QUESTION 7<\/h3>\n<ol>\n<li>\n<fieldset>\n<legend>A problem associated with ____ is that consumers can predict when prices will be lowered and delay purchases until that time.<\/legend>\n<table>\n<tbody>\n<tr>\n<td><\/td>\n<td>a.<\/td>\n<td><label>periodic discounting<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>b.<\/td>\n<td><label>random discounting<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>c.<\/td>\n<td><label>reference pricing<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>d.<\/td>\n<td><label>penetration pricing<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>e.<\/td>\n<td><label>everyday low pricing<\/label><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/fieldset>\n<\/li>\n<\/ol>\n<p>2 points <\/p>\n<h3>QUESTION 8<\/h3>\n<ol>\n<li>\n<fieldset>\n<legend>What type of pricing objective would an organization use if it were in a favorable position and desired nothing more?<\/legend>\n<table>\n<tbody>\n<tr>\n<td><\/td>\n<td>a.<\/td>\n<td><label>Survival<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>b.<\/td>\n<td><label>Cash flow<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>c.<\/td>\n<td><label>Status quo<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>d.<\/td>\n<td><label>Return on investment<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>e.<\/td>\n<td><label>Profit<\/label><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/fieldset>\n<\/li>\n<\/ol>\n<p>2 points <\/p>\n<h3>QUESTION 9<\/h3>\n<ol>\n<li>\n<fieldset>\n<legend>Markup is measured either as a percentage of ____ or a percentage of ____.<\/legend>\n<table>\n<tbody>\n<tr>\n<td><\/td>\n<td>a.<\/td>\n<td><label>demand; competition<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>b.<\/td>\n<td><label>revenue; contribution margin<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>c.<\/td>\n<td><label>selling price; cost<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>d.<\/td>\n<td><label>cost; profit<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>e.<\/td>\n<td><label>resources used; cost<\/label><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/fieldset>\n<\/li>\n<\/ol>\n<p>2 points <\/p>\n<h3>QUESTION 10<\/h3>\n<ol>\n<li>\n<fieldset>\n<legend>Kohls pays $16.50 for a six-ounce bottle of cologne and sells it for $25.95. Its markup as a percentage of cost is approximately ____ percent for this product.<\/legend>\n<table>\n<tbody>\n<tr>\n<td><\/td>\n<td>a.<\/td>\n<td><label>45<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>b.<\/td>\n<td><label>18<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>c.<\/td>\n<td><label>64<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>d.<\/td>\n<td><label>36<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>e.<\/td>\n<td><label>57<\/label><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/fieldset>\n<\/li>\n<\/ol>\n<p>2 points <\/p>\n<h3>QUESTION 11<\/h3>\n<ol>\n<li>\n<fieldset>\n<legend>A product is a price leader when<\/legend>\n<table>\n<tbody>\n<tr>\n<td><\/td>\n<td>a.<\/td>\n<td><label>its price maximizes profits.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>b.<\/td>\n<td><label>its price leads the industry in sales.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>c.<\/td>\n<td><label>it is sold at the highest price.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>d.<\/td>\n<td><label>an increase or decrease in price leads to increased revenue or lower costs.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>e.<\/td>\n<td><label>it is sold at less than cost in the hope that sales of other products will increase.<\/label><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/fieldset>\n<\/li>\n<\/ol>\n<p>2 points <\/p>\n<h3>QUESTION 12<\/h3>\n<ol>\n<li>\n<fieldset>\n<legend>A manager at Kohls discovers that Macy\u2019s has reduced the price of its children\u2019s Levi\u2019s from $31.99 to $24.99, according to an advertisement in the Sunday newspaper. She immediately phones her store and instructs the salesperson on duty to put a sign up next to their children\u2019s Levi\u2019s that reads, \u201cSALE: $24.99.\u201d This is an example of what pricing strategy?<\/legend>\n<table>\n<tbody>\n<tr>\n<td><\/td>\n<td>a.<\/td>\n<td><label>Reference pricing<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>b.<\/td>\n<td><label>Secondary-market pricing<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>c.<\/td>\n<td><label>Random discounting<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>d.<\/td>\n<td><label>Comparison discounting<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>e.<\/td>\n<td><label>Bait-pricing<\/label><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/fieldset>\n<\/li>\n<\/ol>\n<p>2 points <\/p>\n<h3>QUESTION 13<\/h3>\n<ol>\n<li>\n<fieldset>\n<legend>A Macy\u2019s manager designs the casual clothing department such that one of Macy\u2019s private label pairs of jeans, priced at $24.99, is positioned next to a national brand of jeans, such as Levis, priced at $39.99. What is the manager attempting to accomplish?<\/legend>\n<table>\n<tbody>\n<tr>\n<td><\/td>\n<td>a.<\/td>\n<td><label>Odd-even pricing strategy<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>b.<\/td>\n<td><label>Prestige pricing strategy<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>c.<\/td>\n<td><label>Special-event pricing strategy<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>d.<\/td>\n<td><label>Reference pricing strategy<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>e.<\/td>\n<td><label>Everyday low prices strategy<\/label><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/fieldset>\n<\/li>\n<\/ol>\n<p>2 points <\/p>\n<h3>QUESTION 14<\/h3>\n<ol>\n<li>\n<fieldset>\n<legend>Companies that focus on particular product categories and rely on everyday low pricing to acquire a large market share through aggressive and competitive pricing strategies are often referred to as<\/legend>\n<table>\n<tbody>\n<tr>\n<td><\/td>\n<td>a.<\/td>\n<td><label>comparison discounters.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>b.<\/td>\n<td><label>category killers.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>c.<\/td>\n<td><label>pioneers.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>d.<\/td>\n<td><label>price leaders.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>e.<\/td>\n<td><label>category leaders.<\/label><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/fieldset>\n<\/li>\n<\/ol>\n<p>2 points <\/p>\n<h3>QUESTION 15<\/h3>\n<ol>\n<li>\n<fieldset>\n<legend>To attract customers into a store, Safeway advertises its milk at less than cost, hoping that customers will purchase other groceries as well. This pricing strategy is called<\/legend>\n<table>\n<tbody>\n<tr>\n<td><\/td>\n<td>a.<\/td>\n<td><label>price lining.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>b.<\/td>\n<td><label>differential pricing.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>c.<\/td>\n<td><label>price leader pricing.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>d.<\/td>\n<td><label>special-event pricing.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>e.<\/td>\n<td><label>comparison discounting.<\/label><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/fieldset>\n<\/li>\n<\/ol>\n<p>2 points <\/p>\n<h3>QUESTION 16<\/h3>\n<ol>\n<li>\n<fieldset>\n<legend>Products such as light bulbs, canned soft drinks, and ice cream sandwiches are usually priced using ______ usually resulting in a ____<\/legend>\n<table>\n<tbody>\n<tr>\n<td><\/td>\n<td>a.<\/td>\n<td><label>multiple-unit pricing; lower per unit price.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>b.<\/td>\n<td><label>bundle pricing; lower per unit price.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>c.<\/td>\n<td><label>multiple-unit pricing; more convenient package.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>d.<\/td>\n<td><label>bundle pricing; more convenient package.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>e.<\/td>\n<td><label>reference pricing; lower per unit price.<\/label><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/fieldset>\n<\/li>\n<\/ol>\n<p>2 points <\/p>\n<h3>QUESTION 17<\/h3>\n<ol>\n<li>\n<fieldset>\n<legend>A price-skimming strategy assumes that<\/legend>\n<table>\n<tbody>\n<tr>\n<td><\/td>\n<td>a.<\/td>\n<td><label>the initial demand is highly elastic.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>b.<\/td>\n<td><label>all consumers have homogeneous tastes.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>c.<\/td>\n<td><label>the initial demand is highly inelastic.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>d.<\/td>\n<td><label>it will be difficult to recoup development costs.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>e.<\/td>\n<td><label>the product is efficient.<\/label><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/fieldset>\n<\/li>\n<\/ol>\n<p>2 points <\/p>\n<h3>QUESTION 18<\/h3>\n<ol>\n<li>\n<fieldset>\n<legend>A company may determine how many sales calls per year it needs to serve customers effectively and divide that by the average number of sales calls made by one salesperson in order to<\/legend>\n<table>\n<tbody>\n<tr>\n<td><\/td>\n<td>a.<\/td>\n<td><label>determine sales force size.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>b.<\/td>\n<td><label>compensate salespeople fairly.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>c.<\/td>\n<td><label>train its salespeople.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>d.<\/td>\n<td><label>recruit appropriate salespeople.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>e.<\/td>\n<td><label>set sales force calling objectives.<\/label><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/fieldset>\n<\/li>\n<\/ol>\n<p>2 points <\/p>\n<h3>QUESTION 19<\/h3>\n<ol>\n<li>\n<fieldset>\n<legend>Sales objectives can do all of the following<em>except<\/em><\/legend>\n<table>\n<tbody>\n<tr>\n<td><\/td>\n<td>a.<\/td>\n<td><label>give the sales force direction and purpose.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>b.<\/td>\n<td><label>help to control the sales force.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>c.<\/td>\n<td><label>let the sales force know what is expected of them.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>d.<\/td>\n<td><label>serve as a standard for evaluating salesperson performance.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>e.<\/td>\n<td><label>serve as a deterrent both to salespeople and their clients.<\/label><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/fieldset>\n<\/li>\n<\/ol>\n<p>2 points <\/p>\n<h3>QUESTION 20<\/h3>\n<ol>\n<li>\n<fieldset>\n<legend>A salesperson finds and analyzes information about each prospect\u2019s specific product needs, current use of and feeling about brands, and personal characteristics during<\/legend>\n<table>\n<tbody>\n<tr>\n<td><\/td>\n<td>a.<\/td>\n<td><label>presentation preparation.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>b.<\/td>\n<td><label>overcoming objections.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>c.<\/td>\n<td><label>the approach.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>d.<\/td>\n<td><label>prospecting.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>e.<\/td>\n<td><label>the preapproach.<\/label><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/fieldset>\n<\/li>\n<\/ol>\n<p>2 points <\/p>\n<h3>QUESTION 21<\/h3>\n<ol>\n<li>\n<fieldset>\n<legend>When Levi\u2019s agrees to pay JC Penney\u2019s money for providing television advertising and Sunday newspaper sales fliers emphasizing Levi\u2019s jeans, Levi\u2019s is offering<\/legend>\n<table>\n<tbody>\n<tr>\n<td><\/td>\n<td>a.<\/td>\n<td><label>a buying allowance.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>b.<\/td>\n<td><label>cooperative advertising.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>c.<\/td>\n<td><label>a dealer loader.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>d.<\/td>\n<td><label>a merchandise allowance.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>e.<\/td>\n<td><label>premium money.<\/label><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/fieldset>\n<\/li>\n<\/ol>\n<p>2 points <\/p>\n<h3>QUESTION 22<\/h3>\n<ol>\n<li>\n<fieldset>\n<legend>The salesperson must attract and hold the prospect\u2019s attention, stimulate interest, and spark a desire for the product during the<\/legend>\n<table>\n<tbody>\n<tr>\n<td><\/td>\n<td>a.<\/td>\n<td><label>approach.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>b.<\/td>\n<td><label>prospecting.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>c.<\/td>\n<td><label>follow up.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>d.<\/td>\n<td><label>preapproach.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>e.<\/td>\n<td><label>sales presentation.<\/label><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/fieldset>\n<\/li>\n<\/ol>\n<p>2 points <\/p>\n<h3>QUESTION 23<\/h3>\n<ol>\n<li>\n<fieldset>\n<legend>Which of the following<em>best<\/em>characterizes the function of recruiting and selecting a sales force?<\/legend>\n<table>\n<tbody>\n<tr>\n<td><\/td>\n<td>a.<\/td>\n<td><label>After interviewing applicants, the manager should attempt to find a position that can be tailored to fit applicants\u2019 qualifications.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>b.<\/td>\n<td><label>Sources of applicants should be limited, since the recruitment process is expensive and more applicants mean greater expense.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>c.<\/td>\n<td><label>It is a process that should be set up that incorporates at least two steps: an interview and a written application.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>d.<\/td>\n<td><label>It should be a continuous, systematic attempt to match applicants\u2019 characteristics to the firm\u2019s needs.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>e.<\/td>\n<td><label>It should not be made from personnel in other departments in the firm, as this would necessitate training two people rather than one.<\/label><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/fieldset>\n<\/li>\n<\/ol>\n<p>2 points <\/p>\n<h3>QUESTION 24<\/h3>\n<ol>\n<li>\n<fieldset>\n<legend>The final stage of the selling process is<\/legend>\n<table>\n<tbody>\n<tr>\n<td><\/td>\n<td>a.<\/td>\n<td><label>follow-up.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>b.<\/td>\n<td><label>overcoming objections.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>c.<\/td>\n<td><label>trial close.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>d.<\/td>\n<td><label>presentation.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>e.<\/td>\n<td><label>closing.<\/label><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/fieldset>\n<\/li>\n<\/ol>\n<p>2 points <\/p>\n<h3>QUESTION 25<\/h3>\n<ol>\n<li>\n<fieldset>\n<legend>Sales objectives for individual salespeople can be stated in several ways. Which of the following would<em>least likely<\/em>be used for stating an individual salesperson\u2019s goal?<\/legend>\n<table>\n<tbody>\n<tr>\n<td><\/td>\n<td>a.<\/td>\n<td><label>Average order size<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>b.<\/td>\n<td><label>Dollar volume sales<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>c.<\/td>\n<td><label>Unit volume sales<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>d.<\/td>\n<td><label>Ratio of profits relative to number of sales calls<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>e.<\/td>\n<td><label>Average number of calls per time period<\/label><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/fieldset>\n<\/li>\n<\/ol>\n<p>2 points <\/p>\n<h3>QUESTION 26<\/h3>\n<ol>\n<li>\n<fieldset>\n<legend>Creating a favorable impression and developing rapport with prospective customers is a critical part of the ____ step of personal selling.<\/legend>\n<table>\n<tbody>\n<tr>\n<td><\/td>\n<td>a.<\/td>\n<td><label>prospecting<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>b.<\/td>\n<td><label>approach<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>c.<\/td>\n<td><label>following up<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>d.<\/td>\n<td><label>preapproach<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>e.<\/td>\n<td><label>making the presentation<\/label><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/fieldset>\n<\/li>\n<\/ol>\n<p>2 points <\/p>\n<h3>QUESTION 27<\/h3>\n<ol>\n<li>\n<fieldset>\n<legend>Jin Xiao, a trained engineer, is a salesperson for a chemical manufacturer. He provides current customers with advice about a product\u2019s characteristics and applications. He is a(n)<\/legend>\n<table>\n<tbody>\n<tr>\n<td><\/td>\n<td>a.<\/td>\n<td><label>trade salesperson.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>b.<\/td>\n<td><label>field order taker.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>c.<\/td>\n<td><label>missionary salesperson.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>d.<\/td>\n<td><label>technical salesperson.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>e.<\/td>\n<td><label>inside order taker.<\/label><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/fieldset>\n<\/li>\n<\/ol>\n<p>2 points <\/p>\n<h3>QUESTION 28<\/h3>\n<ol>\n<li>\n<fieldset>\n<legend>Rick is a sales representative for Lucent Technologies. He has reviewed a prospect\u2019s account and credit history, identified product needs, and gathered the appropriate literature he needs. Rick feels he is ready for the ____ step of the personal selling process.<\/legend>\n<table>\n<tbody>\n<tr>\n<td><\/td>\n<td>a.<\/td>\n<td><label>sales-planning<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>b.<\/td>\n<td><label>objections<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>c.<\/td>\n<td><label>preapproach<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>d.<\/td>\n<td><label>presentation<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>e.<\/td>\n<td><label>approach<\/label><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/fieldset>\n<\/li>\n<\/ol>\n<p>2 points <\/p>\n<h3>QUESTION 29<\/h3>\n<ol>\n<li>\n<fieldset>\n<legend>During his presentation to Mrs. French about a high-end gourmet oven, Brian asks, \u201cWould you prefer black or stainless steel?\u201d This is an example of a<\/legend>\n<table>\n<tbody>\n<tr>\n<td><\/td>\n<td>a.<\/td>\n<td><label>closing argument.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>b.<\/td>\n<td><label>follow up.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>c.<\/td>\n<td><label>recommendation.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>d.<\/td>\n<td><label>referral.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>e.<\/td>\n<td><label>trial close.<\/label><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/fieldset>\n<\/li>\n<\/ol>\n<p>2 points <\/p>\n<h3>QUESTION 30<\/h3>\n<ol>\n<li>\n<fieldset>\n<legend>Which of the following is an example of a trade sales promotion method?<\/legend>\n<table>\n<tbody>\n<tr>\n<td><\/td>\n<td>a.<\/td>\n<td><label>Money refunds<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>b.<\/td>\n<td><label>Point-of-purchase displays<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>c.<\/td>\n<td><label>Frequent-user incentives<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>d.<\/td>\n<td><label>Free merchandise<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>e.<\/td>\n<td><label>Retailer coupons<\/label><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/fieldset>\n<\/li>\n<\/ol>\n<p>2 points <\/p>\n<h3>QUESTION 31<\/h3>\n<ol>\n<li>\n<fieldset>\n<legend>Tony tells his wife, Camilla, that his last sales call of the day at DuPont was a disaster. He explains that he never really figured out what the purchasing agent was looking for. Camilla, a sales trainer for another firm, hands Tony a book on<\/legend>\n<table>\n<tbody>\n<tr>\n<td><\/td>\n<td>a.<\/td>\n<td><label>product demonstrations.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>b.<\/td>\n<td><label>prospect evaluation.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>c.<\/td>\n<td><label>listening skills.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>d.<\/td>\n<td><label>overcoming objections.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>e.<\/td>\n<td><label>closing.<\/label><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/fieldset>\n<\/li>\n<\/ol>\n<p>2 points <\/p>\n<h3>QUESTION 32<\/h3>\n<ol>\n<li>\n<fieldset>\n<legend>Dylan is a sales person for Whole Foods. In his position, he is primarily responsible for seeking repeat sales. Dylan is most likely a(n)<\/legend>\n<table>\n<tbody>\n<tr>\n<td><\/td>\n<td>a.<\/td>\n<td><label>order getter..<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>b.<\/td>\n<td><label>missionary salesperson.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>c.<\/td>\n<td><label>order taker.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>d.<\/td>\n<td><label>follow-up salesperson.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>e.<\/td>\n<td><label>order recorder.<\/label><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/fieldset>\n<\/li>\n<\/ol>\n<p>2 points <\/p>\n<h3>QUESTION 33<\/h3>\n<ol>\n<li>\n<fieldset>\n<legend>Doug travels around to various established customers to see what new office supplies they need. His customers have come to depend on him to check their supplies. Doug is a(n)<\/legend>\n<table>\n<tbody>\n<tr>\n<td><\/td>\n<td>a.<\/td>\n<td><label>trade salesperson.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>b.<\/td>\n<td><label>field order taker.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>c.<\/td>\n<td><label>current customer order getter.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>d.<\/td>\n<td><label>inside order taker.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>e.<\/td>\n<td><label>missionary salesperson.<\/label><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/fieldset>\n<\/li>\n<\/ol>\n<p>2 points <\/p>\n<h3>QUESTION 34<\/h3>\n<ol>\n<li>\n<fieldset>\n<legend>The most common sales force evaluation practices are for sales managers to compare a salesperson\u2019s performance with other salespeople operating under similar selling conditions, or to compare<\/legend>\n<table>\n<tbody>\n<tr>\n<td><\/td>\n<td>a.<\/td>\n<td><label>current performance with past performance.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>b.<\/td>\n<td><label>selling expenses by various members of the sales force.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>c.<\/td>\n<td><label>the amount of new business generated.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>d.<\/td>\n<td><label>the ratio of costs to profits.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>e.<\/td>\n<td><label>the size of sales territories.<\/label><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/fieldset>\n<\/li>\n<\/ol>\n<p>2 points <\/p>\n<h3>QUESTION 35<\/h3>\n<ol>\n<li>\n<fieldset>\n<legend>The amount of profit a channel member expects depends on<\/legend>\n<table>\n<tbody>\n<tr>\n<td><\/td>\n<td>a.<\/td>\n<td><label>what the intermediary could earn if it were handling a competing product instead.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>b.<\/td>\n<td><label>the number of channel support activities provided by the producers.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>c.<\/td>\n<td><label>the amount of discounts for large orders provided by the producers.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>d.<\/td>\n<td><label>the type of distribution channels involved.<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>e.<\/td>\n<td><label>the amount of effort required to carry the product.<\/label><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/fieldset>\n<\/li>\n<\/ol>\n<p>2 points <\/p>\n<h3>QUESTION 36<\/h3>\n<ol>\n<li>\n<fieldset>\n<legend>Which of the following is<em>not<\/em>a discount provided to business customers?<\/legend>\n<table>\n<tbody>\n<tr>\n<td><\/td>\n<td>a.<\/td>\n<td><label>Differentiated<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>b.<\/td>\n<td><label>Cumulative<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>c.<\/td>\n<td><label>Seasonal<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>d.<\/td>\n<td><label>Cash<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>e.<\/td>\n<td><label>Trade<\/label><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/fieldset>\n<\/li>\n<\/ol>\n<p>2 points <\/p>\n<h3>QUESTION 37<\/h3>\n<ol>\n<li>\n<fieldset>\n<legend>Laura Spangler, of North Central Novelties, reduces the price of games sold to Robertson\u2019s Entertainment by 10 percent to allow for expenses associated with Robertson\u2019s promoting the games to consumers. This is an example of a ____ discount.<\/legend>\n<table>\n<tbody>\n<tr>\n<td><\/td>\n<td>a.<\/td>\n<td><label>quantity<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>b.<\/td>\n<td><label>cash<\/label><\/td>\n<\/tr>\n<tr>\n<td><\/td>\n<td>c.<\/td>\n<td><label>complementary<\/label><\/td>\n<\/tr>\n<tr>\n<td>\n","protected":false},"excerpt":{"rendered":"<p>QUESTION 1 When determining markup as a percentage of cost, divide the markup amount by a. 100. b. price. c. revenue. d. quantity. e. cost. 2 points QUESTION 2 The \u201cWhite Sale\u201d that many department stores have every year a <a href=\"https:\/\/www.benedictsol.com\/blogs\/wku-mkt220-exam-5-fall-2014\/\" class=\"read-more\">Read More &#8230;<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-77642","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/77642","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/comments?post=77642"}],"version-history":[{"count":0,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/posts\/77642\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/media?parent=77642"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/categories?post=77642"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.benedictsol.com\/blogs\/wp-json\/wp\/v2\/tags?post=77642"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}