Sales Management Revision Quiz - One

How is technology applied to improve the use of data in sales?

• a. By improving website aesthetics
• b. By increasing the speed of online transactions
• c. By utilizing it in customer segmentation and behavioural predictive algorithms
• d. By promoting sales through email marketing

What is driving the switch to self-completion in the context of sales?

• a) Increased customer awareness
• b) Direct advertising on search engines, blogs, and social media sites
• c) Direct advertising on television
• d) Changes in governmental regulations

Do the missions of 'Hunters' and 'Farmers' in financial services depend on the channel or means they use to reach the prospect or customer?

• a. Yes, their missions change significantly based on the channel or means used.
• b. No, their missions are different but important, irrespective of the channel or means used.
• c. No, their missions are the same, no matter the channel or means used.
• d. Yes, only the 'Farmers' missions change based on the channel or means used.

What is the primary role of 'Hunters' in the context of financial services?

• a. Managing the bank's finances
• b. Seeking new customers for the bank
• c. Farming existing customers for new opportunities
• d. Executing marketing campaigns

How are banks' processes and systems designed in the context of self-completion?

• a) They require additional involvement from the customer.
• b) They necessitate manual input from the advertiser.
• c) They require no additional involvement from the advertiser.
• d) They are designed to increase human involvement.

What is the primary reason for the progressive increase in the share of sales conducted by customers without human involvement?

• a. The rise of social media platforms
• b. The decline of brick-and-mortar stores
• c. The enhancement in customer knowledge and the application of technology to improve data usage
• d. The increased availability of online discounts

What is the primary purpose of the product or service sold via the self-completion method?

• a To generate revenue for the bank
• b To provide a means for advertising
• c To solve the customer's problem or satisfy a dream
• d To compete with other banks

How many sales types are there in financial services and what are they called?

• a Three types: 'Hunters', 'Farmers', and 'Gatherers'
• b Two types: 'Predators' and 'Preys'
• c Two types: 'Hunters' and 'Farmers'
• d One type: 'Hunters'

How do 'Hunters' typically execute their mission?

• a) Without any support from marketing campaigns
• b) With strong support from the bank's CEO
• c) With strong support from ‘above the line marketing campaigns
• d) Solely relying on cold-calling techniques

What is the second goal of 'Farmers' in their work with existing bank customers?

• a) Encouraging customers to open new bank accounts
• b) Keeping the customer satisfied with the bank’s products and services
• c) Increasing the bank's profit margins
• d) Reducing the amount of customer interaction with the bank