Quality control . Involves measuring products and services against established standards.
Which term refers to the decisions and activities that are intended to create and maintain a certain product concept?
product positioning . Which term refers to the decisions and activities that are intended to create and maintain a certain product concept in the customer’s mind?
Which of the following is a good source of product information?
Customer feedback , fellow salespeople, and product manufacturers are also excellent sources of product information, but practical use is the best.
Which term refers to the process by which a salesperson uncovers and clarifies?
Solution Selling . A process by which the salesperson uncovers and clarifies a customer’s problem, works with the customer to create a vision of how things could be better, and then develops a plan for implementing the vision.
Which of the following is a factor that determines a product’s life cycle stage?
There are four main factors that help you determine the stage of your product: sales, investment costs, profit and competition . Your product will develop through the five stages which will determine your business strategy.
What is unique value?
In business and marketing, the UVP (unique value proposition) is a statement that clearly tells your potential customers how they will benefit from your offer, how your products or services will address their needs and solve their problems, and what makes your offer different from the competition.
What are the steps in order of the six step presentation plan quizlet?
- Approach.
- Need Discovery.
- Presentation.
- Negotiation.
- Close.
- Servicing the sale.
What are the 5 main sources of consumer information?
The major sources of consumer information are personal contacts, business organizations, media information, independent testing organizations, online sources, and government agencies .
How do we assess alternative products?
Evaluate alternatives by examining the benefits and drawbacks of each alternative . During the evaluation of alternatives, careful consideration is given to social, economic, and ecological factors that influence the predicted outcome. Encourage discussion and use visual aids to help explain alternatives.
What is the most trusted source of consumer information?
Deloitte’s research shows that for the majority of consumers, family and friends, consumer reviews and independent experts are the most trusted sources of information. Only around one in ten consumers find product manufacturers or service providers to be their most trusted source (see Figure 2).
Is a well conceived plan that emphasizes a product?
The product strategy is a well-conceived plan that emphasizes becoming a product expert, selling specific benefits, and configuring value-added solutions (Figure 6.1).
What is a feature benefit strategy?
What is feature-benefit selling? Feature-benefit selling is the process of connecting your the things your product helps your customer do (features) to the goals it will help them achieve and the pain points it will help them eliminate .
What percentage of a sales representative’s time is spent selling?
The study reveals: Sales reps spend only 37% of time selling, according to research from InsideSales.com.
What are the stages of product life cycle?
- Introduction. The introduction phase is the period where a new product is first introduced into the market. ...
- Growth. ...
- Maturity. ...
- Decline.
What determines what stage a product is in?
Companies can determine the growth stage by analyzing sales and profit trends . ... As a company takes market share away from its competitors, it may be able to increase prices and generate profit growth. Higher volumes usually mean lower unit costs, which mean higher profits.
How product life cycle affects a business plan?
There are four stages in the cycle, which are development, growth, maturity, and decline. The product life cycle helps business owners manage sales, determine prices, predict profitability, and compete with other businesses . ... Track each product’s activities and successes to keep profits high and avoid steep losses.
