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Basics of Selling for Marketing Chapter Exam

Exam Instructions:

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

Page 1

Question 1 1. What is the feature of the second stage of the product life cycle theory?

Question 2 2. What is the overall premise of Raymond Vernon's product life cycle theory?

Question 3 3. The concept of disintermediation is about the elimination of what role?

Question 4 4. The ability to purchase tickets directly from airlines or cruise ships has eliminated which role that could be considered a middleman in this transaction?

Question 5 5. Why is share of wallet a useful metric?

Page 2

Question 6 6. If an average customer spends $450 a month on groceries and they spend $225 at your grocery store, what is your share of wallet?

Question 7 7. The key step in selling a white label product is to _____ it under a company's own line.

Question 8 8. What is the idea behind a white label product?

Question 9 9. What is one of the three parts of Netflix's value proposition?

Question 10 10. What is the definition of branding?

Page 3

Question 11 11. What happens to the value of a product when relational goods are realized as the result of group consumption?

Question 12 12. The basis of relational goods is _____ experience.

Question 13 13. Guided selling helps move consumers from _____ to _____.

Question 14 14. What is the purpose of guided selling?

Question 15 15. If a Q-Score for a product goes from 43 to 26 in one week, what do you know about the product?

Page 4

Question 16 16.

Using the following survey results, calculate the popularity score for this product.

700 people surveyed

347 have heard of the product

291 say it is one of their favorites

Question 17 17. What is the role of the gatekeeper in the buying center?

Question 18 18. Diana is a member of the marketing department. She shares her opinion about a particular printer with the rest of the buying center. Which role does Diana fulfill?

Question 19 19. What is a brand value proposition?

Question 20 20. All of the following are typical features of a value proposition EXCEPT which?

Page 5

Question 21 21. What is the purpose of a value proposition statement?

Question 22 22. This part of the value proposition statement should be short, succinct, and eye-catching:

Question 23 23. What is meant by the maturity of a product in the life cycle theory?

Question 24 24. How has the internet impacted disintermediation?

Question 25 25. Which statement best defines share of wallet?

Page 6

Question 26 26. All of these are potential benefits for consumers purchasing white label products EXCEPT which?

Question 27 27. What is one way Netflix became more accessible and fulfilled its value proposition?

Question 28 28. Relational goods could include all of the following EXCEPT which?

Question 29 29. Sally wants to build guided selling into her new website. What's one way she can implement it?

Question 30 30. Is a Q-Score of 14, for a new band, good or bad?

Basics of Selling for Marketing Chapter Exam Instructions

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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