MGT 599 SLP 4

Module 4 – SLP

Strategy Implementation and Strategic Controls

Simulation

In Module 4, you will continue with the CVP analysis you completed in the Module 3 SLP.

Scenario Continuation:

It is still January 2, 2012. You have just completed your revised SLP3 strategy using CVP analysis, and you are eager to implement your decisions for 2012 through 2014.

Using the CVP analysis from SLP3, run the simulation for a final time. Again, be sure to take notes about your analysis and the document the reasoning behind your decisions.

Finalize your report showing the strategy you have used.

Assignment Overview

Using the strategy that you developed in SLP3, run the simulation. Document your results as you did previously. Review and analyze these results, and develop a final strategy.

Please turn in a 6- to 8–page paper, not including cover and reference pages.

Keys to the Assignment

The key aspects of this assignment that should be covered and taken into account in preparing your paper include:

• The revised strategy consists of the Prices, R&D Allocation %, and any product discontinuations for the X5, X6, and X7 tablets for each of the four years: 2012, 2013, 2014, and 2015.
• You must present a rational justification for this strategy. In other words, you must provide support for your proposed strategy using financial analysis and relevant theories.
• Use the CVP Calculator and review the PowerPoint that explains CVP and provides some examples.
• You will need to crunch some numbers (CVP Analysis) to help you determine your prices and R&D allocations.
• Make sure your proposed changes in strategy are firmly based in this analysis of financial and market data and sound business principles. Your goal is to practice using CVP and get better at it.
• Present your analysis professionally, making strategic use of tables, charts, and graphs.

               

HS150 Week 3 Discussion Question

Discuss the contributions that the Greeks made to Western civilization.

Discuss the impact of Greek art, science, and philosophical thinking and hypothesize how it impacted the Western World.

 

QRB501_r10_Wk4_Data_Analytics_Problem_Set_Excel_Template

Problem 1

Fifty business students were given a project to complete. The bar graph below shows the number 

of days it took the students to  complete the assignment.

1. How many students took 4 days to complete the assignment? 

2. How many students completed the project in 3 days or less? 

3. What percent of students completed the project in 3 days or less?

Problem 2

The bar graph below shows the Quarterly Dollar Volume of Batesville Tire Company.

Refer to the bar graph below and answer the questions.

1. Which quarter had the highest dollar volume? 

2. What percent of the yearly sales were the sales for October–December? 

3. What was the percent of increase in sales from the first to the second quarter?

Problem 3

The line chart below shows data for Automobile Gasoline Mileage Comparisons for 

full-size and compact cars.

Refer to the chart and answer the questions.

1. What speed gave the highest gasoline mileage for both types of automobiles? 

2. What speed gave the lowest gasoline mileage for both types of automobiles?

3. At what speed did the first noticeable decrease in gasoline mileage occur? 

Which car showed this decrease? 

Problem 4

The line chart below shows Dale Crosby's Salary History.

Refer to this chart and answer the questions.

1. Calculate the amount and percent of increase in Dale’s salary from 2014 to 2015.

Amount of increase

2. What is the percent of increase in Dale’s salary from 2012 to 2013?

Percentage of increase

3. Calculate the amount and percent of increase in Dale’s salary from 2016 to 2017.

Amount of increase

4. If the cost-of-living increase was 10% from 2011 to 2016, determine if Dale’s

salary for this period of time kept pace with inflation.

Hint: For part 4, follow the steps below:

Step 1: Find the amount of salary increase from 2011 to 2016.

Step 2: Find the percentage increase from 2011 to 2016.

Step 3: If the percentage increase from Step 2 is greater than 10% cost-of-living increase, then

Dale's salary kept pace with inflation, otherwise no.

Step 1: Amount of salary increase from 2011 to 2016

Step 2: Percentage increase from 2011 to 2016

Step 3: Did the salary keep pace with inflation?

Problem 5

The pie chart below shows the family budget. Refer to the chart and answer the following questions.

1. What is the total take-home pay?

2. What percent of the total take-home pay is allocated for transportation?

3. What percent of the take-home pay is allocated for food?

4. What percent of take-home pay is spent for education? 

5. What percent of take-home pay is spent for education when education, 

savings, and miscellaneous funds are combined to be used for education? 

Total of education, savings, and miscellaneous funds

Percentage of take-home pay spent on this combined total

Problem 6

The bar chart shows the distribution of tax dollars. Refer to the chart and answer the following questions.

1. What expenditure is expected to be the same next year as this year?

2. What two expenditures are expected to increase next year? 

3. What two expenditures are expected to decrease next year? 

4. What expenditure was greatest both years? 

Problem 7

The Canmark Research Center Airport Customer Satisfaction Survey uses an online questionnaire to provide airlines and airports with

customer satisfaction ratings for all aspects of the customers’ flight experience (airportsurvey website, July 2012). After completing a

flight, customers receive an e-mail asking them to go to the website and rate a variety of factors, including the reservation process,

the check-in process, luggage policy, cleanliness of gate area, service by flight attendants, food/beverage selection, on-time arrival,

and so on. A five-point scale, with Excellent, Very Good, Good, Fair, and Poor, is used to record customer ratings. Assume

that passengers on a delta Airlines flight from Myrtle beach, South Carolina, to Atlanta, Georgia, provided the following ratings for the

question, “Please rate the airline based on your overall experience with this flight.” The sample ratings are shown below.

Credit: Anderson, D. R., Sweeney, D. J., Williams, T. A., Camm, J. D., & Cochran, J. J. (2017). Statistics for business & economics 13e. Boston: Cengage Learning.

1. Use the pivot table feature in Microsoft Excel and create a frequency distribution with two columns – Rating and Frequency.

2. Use Excel to create a bar chart (or a pivot bar chart)

3. Use Excel to create a pie chart (or a pivot pie chart)

4. Interpret information from the charts and the frequency distribution.

Problem 8

The data below shows the total sales per day of the week by four salespersons.

Use Microsoft Excel to construct a line chart (graph)showing total sales by the days 

of the week for Happy's Gift Shoppe.

Which day of the week constituted highest sales?

Problem 9

Use Excel to find the mean, median, and mode of the scores given below.

92

68 Mean

72

83 Median

72

95 Mode

88

76

72

89

89

96

74

72

Problem 10

After your MBA, you are employed as a business analyst for a company that makes household products, 

which are sold by part-time salespersons who work during their spare time. The company has four 

salespersons employed. Let us denote these salespersons by A, B, C, and D. The sales records (in dollars) 

for the past 6 weeks for these four salespersons are shown in the table below.

Your supervisor has asked you to prepare a brief analysis comparing the sales volumes and the consistency

of sales of these four salespersons. Use the mean sales for each salesperson to compare the sales volumes,

and then choose an appropriate statistical measure to compare the consistency of sales.

Consider the data as sample data.

Case Adapted from Introductory Statistics, 8e, Mann

Problem 11

The data below shows personal income for Quarters 2014: II – 2015: III in millions of dollars, seasonally

adjusted at annual rate. Construct a line graph of the data.

After plotting the line graph, answer the following questions:

1. Is the graph exhibiting an increasing, decreasing, or fluctuating trend?

2. Which period showed the highest personal income?

Problem 12

Construct a pie chart (circle graph) showing the distribution of market share using the data below.

The data represents the percent dollar market of comics and magazine sales for September (rounded 

to the nearest whole percent).

After plotting the pie chart, answer the following questions.

1. What percent of market share is held by the largest three companies?

2. What was Image Comics' sales for September if the total market was $80,000,000?

3. If the total market had $80,000,000 in comics and magazine sales for September, what were the sales for Marvel Comics? 

      

EN360 Lesson 8 Exam SCORE 100 PERCENT

Question 1 5 / 5 points

If you are nervous about making eye contact, strategies to use include:

Question options:

looking just above the heads of people in the audience.

locating a friendly face or two and then gradually expanding to other audience members.

staring at one person who smiles at you.

Both a and b

Question 2 5 / 5 points

When posting to a social network that might be viewed by potential employers:

Question options:

include as much personal information as possible.

write in an edgy, breezy style.

use discretion.

exaggerate and embellish your qualifications.

Question 3 5 / 5 points

When choosing sources to support your proposal:

Question options:

cite all sources of common knowledge.

limit your sources to major background studies.

ignore the most recent studies.

do not acknowledge sources with a point of view different from your own.

Question 4 5 / 5 points

Extemporaneous delivery style is:

Question options:

the style most suited for very formal speeches to large, unfamiliar audiences.

effective for moderately complex topics.

the best style to use when time limits are strict.

not the best style for a presentation with visual elements.

Question 5 5 / 5 points

To prepare for a webinar or other distance presentation:

Question options:

prepare the slides well in advance.

add audio (narration) if you post slides for later viewing.

test the slides on the webinar site.

All of the above.

Question 6 5 / 5 points

An effective proposal:

Question options:

demonstrates a clear understanding of the audience's needs.

identifies benefits of solving the problem.

offers a realistic solution.

All of the above.

Question 7 5 / 5 points

Website privacy statements:

Question options:

should be difficult to find on the site.

are most authoritative when written in legalese.

explain what rights readers have.

do not explain how a reader's information will be used.

Question 8 5 / 5 points

Which of the following statements is INVALID?

Question options:

Whether solicited or unsolicited, all research proposals are formal.

Informal internal proposals often take the form of an email or a memo.

Emphasize key points in your proposal with relevant visuals.

Proposals have one primary purpose: to convince your audience to agree to your plan.

Question 9 5 / 5 points

When presenting visuals:

Question options:

turn your back on the audience and look at the visuals on the screen.

avoid displaying them until you are ready to discuss them.

leave the equipment on even when you are not using it.

discuss them generally, without pointing to important elements.

Question 10 5 / 5 points

Besides being clear, the proposal plan must be:

Question options:

realistic.

inexpensive.

overly optimistic.

creative.

Question 11 5 / 5 points

Which of the following is NOT true?

Question options:

A storyboard provides a map of a website.

To emphasize text on a web page, use underlining.

Simple web pages can be created with word-processing programs.

Readers expect a balance of text and visuals on a web page.

Question 12 5 / 5 points

Internal corporate blogs:

Question options:

generally waste employee time.

are not useful for training.

support employee knowledge sharing.

are used as a replacement for face-to-face meetings.

Question 13 5 / 5 points

When writing the proposal:

Question options:

adopt a confident tone.

choose the most simplistic language possible.

use active verbs.

Both a and c

Question 14 5 / 5 points

When writing for a web page, you should:

Question options:

catch the reader's attention in the first two paragraphs.

use vague words.

write in lengthy, complicated sentences.

avoid a neutral tone.

Question 15 5 / 5 points

To address the needs of a global audience, your web pages should:

Question options:

be written in clear, simple English.

not include cultural references and humor.

avoid images and colors that are offensive to specific cultures.

All of the above.

Question 16 5 / 5 points

If you locate a copyrighted visual on the web that you want to use on your own page, you should NOT:

Question options:

seek a copyright-free alternative.

obtain written permission to use the visual.

use it without obtaining permission.

Neither a nor b

Question 17 5 / 5 points

Research (grant) proposals:

Question options:

are always unsolicited.

request approval to conduct a study.

always are written for nontechnical audiences.

rarely include a request for funding.

Question 18 5 / 5 points

Readers expect web pages to:

Question options:

have very little, if any, white space.

be easy to enter, navigate, and exit.

be dominated by numerous visuals.

include lots of special effects.

Question 19 5 / 5 points

Social networks are used by:

Question options:

companies.

nonprofit organizations.

individuals.

All of the above.

Question 20 5 / 5 points

To create readable and understandable visuals:

Question options:

use the brightest color for what is least important.

use lengthy, complicated sentences.

choose a serif typeface.

avoid labeling diagrams and illustrations.

   

BU450 Exam

If the founder of the organization is a workaholic and control oriented, the organization is likely to be characterized as: 

‘the web’ whereby the manager is in the center of an interconnected circle.

fast-paced decision making and centralized.

decentralized and open.

participative and supportive.

The High and Low Context model of culture addresses: 

different cultural values.

differences in communication styles.

differences in leadership patterns.

the organizational cultural context.

•

o

The belief that leaders are born rather than made is part of which approach to leadership? 

scientific

contingency

case study

trait

•

o

Personality is best defined as: 

a person’s traits based on their genes.

a set of traits that make a person unique.

how people behave based on their values.

behaviors that make people different.

In __________ cultures, power bases are stable, and upward mobility is limited. 

individualistic

socialized

vertical power

high power distance

The contingency models such as Path-Goal all focus on: 

how leaders use their resources.

the transaction between leaders and followers.

the relationship between leaders and followers.

behaviors that make people different.

The job of upper echelon leaders requires an equal focus on: 

internal/external.

people/task.

financial/performance.

teams/departments.

The concept of employee participation is party of many management and leadership theories. Which one of the following does NOT include the concept of participation? 

Theory X and Theory Y

Leader behavior research

Contingency models

Trait approach

__________ refers to the process of providing support to assure the change becomes permanent. 

Unfreezing

Changing

Refreezing

Transforming

__________ is an ongoing, dynamic, long-term change or evolution that occurs because of various learning experiences. 

Development

Training

Education

Curriculum

     

HW-2214 Davis Bacon Act (currently called Construction Wage Rate Requirements Statue)

Topic:  Identify the historical significance and present day implications of the Davis Bacon Act (currently called Construction Wage Rate Requirements Statue). FAR 22.404

 

FAR website to find section 22.404

http://farsite.hill.af.mil/vmfara.htm

·          

·          3-4 pages (hand-written will not be accepted)

·          Times New Roman Font, Size 12

·          Utilize “FAIR” model – NOTE: Recommendation/Results earn you the most points!

·          Double Spaced

·          Single Sided

·          Include citations where necessary….do NOT plagiarize and a reference list at the end.

The FAIR model consists of gathering the Facts, making Assumptions as necessary, developing the Issues involved, and providing Recommendation or a Result.

       

STR581 Week 3 B&G Foods

WEEK 3

 

Note: You must use the same company for all of the Strategic Plan assignments.

 

Write a 1,400-word minimum internal environmental analysis in which you include the following: 

• Assess the organization's internal environment.
• Identify the most important strengths and weaknesses of your organization including an assessment of the organization's resources.
• Identify the most important internal environmental factors in the general, industry, and external analysis in relation to the internal analysis.
• Perform competitor analysis.
• Assess the structure of the organization and the influence this has on its performance.
• Determine the organization's competitive position and the possibilities this provides. 

Format your paper according to APA guidelines. 

   

STR581 Week 3 B&G Foods

WEEK 3

 

Note: You must use the same company for all of the Strategic Plan assignments.

 

Write a 1,400-word minimum internal environmental analysis in which you include the following: 

• Assess the organization's internal environment.
• Identify the most important strengths and weaknesses of your organization including an assessment of the organization's resources.
• Identify the most important internal environmental factors in the general, industry, and external analysis in relation to the internal analysis.
• Perform competitor analysis.
• Assess the structure of the organization and the influence this has on its performance.
• Determine the organization's competitive position and the possibilities this provides. 

Format your paper according to APA guidelines. 

   

Final Exam

In addition to basic managerial functions of planning, organizing, staffing, directing, and controlling, leaders are ascribed: 

procedural and external roles.

procedural and internal roles.

strategic and internal roles.

strategic and external roles.

Leaders in high power distance cultures would be most characterized by: 

expecting feedback from employees.

relying on formal structures to accomplish tasks.

seeking notoriety for the organization.

focusing on team efforts.

The trait approach to leadership suggests that: 

leaders have special innate qualities.

leadership traits are clearly visible.

traits are based on social class.

traits cannot be measured.

The interactionist view of individual differences suggests: 

the environment determines who we are.

genes are the most important factor in making people who they are.

heredity and the environment both influence individual differences.

culture is one of the key factor in determining how people behavior.

All managers have access to which source of individual power? 

legitimate

authority

coercive

expert

Followers will only follow a charismatic leader if: 

they believe change is needed.

they are motivated.

they have clear rewards waiting for them.

they are confident.

As organizations grow and mature, the leader’s influence is often replaced with: 

the influence of teams.

the power of middle management.

the presence of a strong culture.

individual decision making.

Which of the following cultural values can affect employee participation in decision making? 

collectivism

tolerance for ambiguity

ascription

time orientation

__________ is change that is the result of specific and conscious actions by leaders or followers to change the organization. 

Unplanned

Convergent

Evolutionary

Revolutionary

__________ focuses on education and teaching participants the skills to effectively conduct the day-to-day activities of the individual’s role in the organization. 

Executive development

Leader development

Leadership Development

Supervisory and managerial development

E-commerce can be defined as: 

the use of the Internet and the Web to transact business.

the use of any Internet technologies in a firm's daily activities.

the digital enablement of transactions and processes within an organization.

any digitally enabled transactions among individuals and organizations.

Which of the following is NOT a community provider? 

LinkedIn

Facebook

Priceline

Pinterest

__________ is a utility program that allows you to check the connection between your client and a TCP/IP network. 

Telnet

Ping

Tracert

Finger

Which of the following types of servers monitors and controls access to a main Web server and implements firewall protection? 

Proxy server

List server

Groupware server

Mail server

All of the following are factors in contributing to the increase in cybercrime EXCEPT: 

the ability to remotely access the Internet.

the Internet's similarity to telephone networks.

the ability to anonymously access the Internet.

the Internet is an open, vulnerable design.

Software that is used to obtain private user information such as a user's keystrokes or copies of e-mail is referred to as: 

spyware.

a backdoor.

pupware.

adware.

Which of the following is NOT true about search engine advertising? 

Spending on search engine advertising constitutes almost half of all online advertising spending.

The top three search engine providers supply over 95 percent of all online searches.

The click-through rate for search engine marketing has been fairly steady over the years.

Search engine advertising is the fastest growing type of online advertising.

Downloading music tracks owned by record companies without paying for them is an example of a violation of: 

patent law.

copyright law.

trademark law.

privacy law.

All of the following are challenges faced by bricks-and-clicks firms EXCEPT: 

coordinating prices across channels.

handling returns of Web purchases at retail outlets.

building a credible website.

building a brand name.

All of the following have led to the development of outsourcing of manufacturing around the world EXCEPT: 

technology.

globalization of trade.

environmental concerns.

high levels of wage disparity between the developed and undeveloped worlds.

__________ strategy is concerned primarily with how to compete within individual markets. 

Operational

Corporate-level

Differentiation

Business unit

There are several ways of attaining __________, including having a strong and unique brand, a large and loyal customer base, and low-cost production facilities. 

lower transaction costs

a competitive advantage

economies of scale and scope

increased customer value

Important factors in the __________ environment are interest and exchange rates, evolution of stock markets and, more generally, economic growth rates. 

economic

social

political and legal

natural

Kotler proposes a number of different requirements that any type of market segmentation should fulfill. They include all of the following EXCEPT: 

substantial.

differentiable.

actionable.

identifiable.

The __________ illustrates how information captured in the physical value chain can be used to develop new markets. 

virtual value chain

value network

ICDT model

internal value chain

Doing this to the disruptive innovator means that a company tries to out-substitute the substitution. 

Defending

Straddling

Migrating/harvesting

Leapfrogging

Potential adopters usually come to the __________ for advice and information about innovations. 

innovators

early adopters

early majority

brand leaders

__________ management focuses on logistics and support functions. This business includes the building and management of physical facilities, such as manufacturing or assembly plants, retail outlets and truck fleets, for high-volume production and transportation processes. 

Logistics

Customer relationship

Infrastructure

Production

A __________ is a website that displays content that users can incorporate as is, or modify at will. 

wiki

blog

media platform

desktop application

__________ takes place when hackers misrepresent their true identity or misrepresent themselves by using fake email addresses. 

Phishing

Malicious code

Cyber-vandalism

Spoofing

Which of the following is NOT true of utilitarianism? 

It advocates maximizing utility.

It provides an easy way to measure utility.

It appears intuitive to many people.

It has influenced economics.

When are our values formed? 

During childhood, and they do not change after that

During adolescence

Once we are adults

All throughout our lives as we mature

Which of the following is NOT a moral right? 

Negative rights

Contractual rights

Positive rights

Legal rights

What is a key cause of alienation, according to Marx? 

Capitalist managers care nothing for their workers.

In a capitalist society, there are only a few rich people and many poor.

Capitalist societies see everything in terms of their market prices.

It is impossible for workers to not be alienated when they are essentially slaves to the system.

What is the definition of “comparative advantage”? 

Production costs of making a commodity are lower for one country than another.

A company has a trade secret that gives it an edge in the markets.

A country produces many different goods, rather than specializing.

Opportunity costs of making a commodity are lower for one country than another.

What is the term for a grant that indicates ownership of a particular expression or idea? 

Intellectual property

Trademark

Copyright

Infringement

In a monopoly, how many sellers are there? 

There is a relatively small number of large firms controlling the market.

There is only one seller, but other sellers can enter the market.

There are many sellers, so new sellers cannot enter the market.

There is only one seller, and new sellers cannot enter the market.

In a perfectly free competitive market: 

no buyer or seller has the power to significantly affect the price of a good.

the most influential buyers or sellers have the power to affect the price of a good.

the majority of buyers or sellers have the power to affect the price of a good.

only buyers have the power to significantly affect the price of a good.

Ozone depletion is a serious threat to our survival; which gases are extremely harmful to the ozone layer? 

Carbon dioxide

Nitrogen

Chlorofluorocarbons

Hydrocarbons

Which of the following is NOT a significant challenge when exercising due care? 

Determining what is an acceptable level of risk

Informing customers of potential hazards

Predicting all possible modes of product failure

Determining which customers are able to safely use a product

The mission of the Pew Internet & Life Project is to “explore the impact of the Internet on families, communities, work, home, and daily life.” In August – September 2007 they conducted telephone interviews with a sample of American adults aged 18 and older about online shopping. What is the “what” in the above example? 

Internet impact

Online Shopping

American adults

Pew Internet & Life Project

A mid-priced chain of hotels, Hometown Suites, collects data on monthly occupancy rates for forecasting and planning purposes. This data is: 

cross-sectional.

time series.

categorical.

transactional.

The art guild wants to encourage people from out of town to attend events. Generally, they know that 40% of people who purchase tickets from them are from out of town and often use other amenities in town such as restaurants and hotel accommodations. The guild wants to use this information to entice these vendors to advertise in their program and be assured that these customers are represented in the samples. Their database includes zip codes of customers, and the student consultants decide to sample 70 tickets buyers from zip codes outside of town and 100 from the town’s zip code. What kind of sampling scheme are they using to replace the simple random sample? 

Cluster sampling

Systematic sampling

Another simple random sampling

Stratified sampling

A contingency table is used to see: 

how a whole divides into categories.

how two categorical variables are related.

the proportion of each row contained in the cell of a frequency table.

the conditional distribution of a categorical variable within each category of another variable.

What is the most appropriate measure of central tendency for data when the distribution is skewed? 

The mean is preferred over the median.

The mode is preferred over the median.

The median is preferred over the mean.

The mode is preferred over the mean.

Suppose the correlation, r, between two variables x and y is -0.44. What would you predict about a y value if the x value is 2 standard deviations above its mean? 

It will be .88 standard deviations below its mean.

It will be .88 standard deviations above its mean.

It will be 2 standard deviations below its mean.

It will be .44 standard deviations below its mean.

For quality control purposes, a company that manufactures copper sheets routinely takes samples from its production process. Since its product is often used for decorative purposes, one inspection check involves counting the number of imperfections or flaws on sheets that measure 36 sq. ft. Suppose the average number of imperfections per sheet of this size is 3. What is the probability that a sheet of this size has 2 imperfections? 

0.182

0.214

0.224

0.2246

One division of a large defense contractor manufactures telecommunication equipment for the military. This division reports that 12% of non-electrical components are reworked. Management wants to determine if this percentage is the same as the percentage rework for electrical components manufactured by the company. The Quality Control Department plans to check a random sample of the over 10,000 electrical components manufactured across all divisions. The Quality Control Department wants to estimate the true percentage of rework for electrical components to within ±4%, with 99% confidence. How many components should they sample? 

417 electrical components

425 electrical components

435 electrical components

438 electrical components

In a metal fabrication process, metal rods are produced to a specified target length of 15 feet. Suppose that the lengths are normally distributed. A quality control specialist collects a random sample of 16 rods and finds the sample mean length to be 14.8 feet and a standard deviation of 0.65 feet. Which of the following statements is true? 

The sampling distribution for the sample mean follows the t-distribution with 16 degrees of freedom.

The sampling distribution for the sample mean follows the t-distribution with 15 degrees of freedom.

The mean of the sampling distribution for the sample mean is 14.8 feet.

The sampling distribution for the sample mean is normal with a mean of 14.8 feet and standard deviation of .65 feet.

The correct interpretation of the regression coefficient for the variable Trust Index is: 

For companies that give the same average annual bonus, an increase of 10 points on the trust index is associated with a decrease of 0.72% in turnover rate, on average.

An increase of 10 points on the trust index results in a decrease of 7.2% in turnover rate.

Holding average annual bonus constant, increasing the trust index by 10 points will decrease the turnover rate by 7.2%.

For companies that give the same average annual bonus, an increase of 10 points on the trust index is associated with an increase of 0.72% in turnover rate, on average.

 

BM410 Lesson 1 Exam SCORE 95 PERCENT

Question 1

New customers may be turned over to account-servicing salespeople referred to as

Question options:

order-getters.

order-takers.

pioneers.

hunters.

Question 2

Which of the five personal selling approaches involves the highest level of adaptive selling?

Question options:

Stimulus response

Need satisfaction

Consultative selling

Mental states

Question 3

Which of the following is not one of the steps of the ADAPT questioning methodology?

Question options:

Assess the buyer's situation.

Discover the buyer's needs.

Activate the buying process.

Transition to the close.

Question 4

Salespeople who focus on gaining new customers are sometimes referred to as

Question options:

hunters.

farmers.

missionary salespeople.

detailers.

Question 5

Key presentation skills include all of the following except

Question options:

explaining the features and benefits of the product.

demonstrating the product.

producing additional information to reinforce claims made.

using audiovisual sales aides.

Question 6

Which of the following personal selling approaches focuses most on the buyer's needs and strategic priorities?

Question options:

Stimulus response

Need satisfaction

Mental states

Consultative selling

Question 7

_______ is the process of helping customers reach their strategic goals by using the products, services, and expertise of the sales organization.

Question options:

Need satisfaction selling

Stimulus response selling

Contingency selling

Consultative selling

Question 8

_______ are salespeople who support the sales effort by providing information and performing other supplemental services.

Question options:

Hunters

Pioneers

Order-takers

Missionary salespeople

Question 9

________ is essentially a sequential approach to selling in which the salesperson leads the customer through stages in the buying process.

Question options:

Stimulus response selling

Mental states selling

Need satisfaction selling

Problem-solving selling

Question 10

Which one of the following is not a stage in the SPIN selling technique?

Question options:

Investigate the customer's situation.

Determine the customer's problem.

Discuss implications of the problem if it is left unattended.

Follow up the sale with additional product offerings.

Question 11

To be successful at trust-building, research indicates that salespeople should demonstrate all of the following characteristics except

Question options:

salesperson orientation.

competence.

dependability.

honesty.

Question 12

According to the trust-based relationship selling process framework, “discovering prospect's needs” is a part of which component of the framework?

Question options:

Selling foundations

Selling strategy based on customer needs and value

Initiating customer relationships

Developing customer relationships

Question 13

As ________, salespeople stimulate sales cycles and help customers reach buying decisions as soon as reasonably possible.

Question options:

financial contributors

economic agents

change agents

communications agents

Question 14

The problem-solving view of personal selling is an extension of

Question options:

need satisfaction selling.

stimulus response selling.

contingency selling.

mental states selling.

Question 15

Which of the following statements pertaining to the stimulus response form of personal selling is true?

Question options:

The buyer takes a dominant role in the sales dialogue.

The stimulus response sales strategy can't be used with a canned sales presentation.

The stimulus response sales strategy must be conducted in person because
of the necessity for visual aids.

Key selling points can be sequenced in a logical order and likely
questions and objections can be addressed before they're voiced by the buyer.

Question 16

The generation of new business for the selling firm is associated with which type of salespeople?

Question options:

Hunters and pioneers

Order-getters and order-takers

Missionaries and detail salespeople

Pioneers and franchisers

Question 17

The mental states approach to personal selling assumes that buyers must be led through four mental states, which occur in this order:

Question options:

interest, attention, desire, action.

attention, desire, interest, action.

curiosity, interest, conviction, purchase.

attention, interest, desire, action.

Question 18

________ support the sales effort by setting up point-of-purchase displays, rotating stock, and keeping store personnel informed about new products and sales promotions.

Question options:

Order-getters

Order-takers

Missionary salespeople

Merchandisers

Question 19

In this selling position, the salesperson, sometimes referred to as a pioneer, is responsible for

Question options:

deciding which new territories to enter.

handling existing customer accounts.

answering routine customer inquiries.

adding new customers.

Question 20

Need satisfaction personal selling is based on the notion that

Question options:

customers need to be told what they want.

the customer needs to know what products the firm offers.

salespeople should be friendly because customers need to feel that they're appreciated.

customers will be motivated to buy to satisfy particular needs.