Font size
WorksheetsDiagnostic Diploma Sales - Repeat 1
Total questions: 60
Worksheet time: 30mins
In order to accurately set sales targets a common method is to simply look at the previous year’s revenue and add what appears to be a reasonable rate of growth.
True
False
In order to accurately set sales targets, organizations need to think about past performance, account value, staff performance, and foresights based on the business goals.
True
False
Some of the factors that go into setting sales targets are:
Historic data and product development
Historic data, product development and costs of products
Historic data, product development, costs of products and economic factors
Historic data, product development, costs of products, economic factors and business needs.
Turning an annual departmental sales target into individual monthly targets:
• Divide (÷) the total annual target by the number of sales staff you have
• Divide (÷) the annual staff targets by the number of months in a year
If the annual target is $20,000,000 and the sales staff are 25 what would the monthly individual sales target be?
$56,567 each staff member
$66,667 each staff member
$72,476 each staff member
$33,400 each staff member
Gross Profit Margin is = GROSS PROFIT (÷) SALES REVENUE (x) 100
True
False
Net Profit Margins is = SALES REVENUE (÷) NET PROFIT (x) 100
True
False
A sale target is a goal set for a sales person or a sales department.
True
False
The purpose of individual and team sale targets are to make the overall company sale target more achievable.
True
False
The purpose of individual and team sale targets are:
To motivate staff to work harder for the company and reach the company’s objective.
To motivate staff to think positively
To motivate staff to work better as a team
To motivate staff to go out more often and enjoy the sun
Why is it important to review sale targets?
So you can see what the trend is in the market.
So you can think about past sales targets.
So you can sell more products
So you can adjust your sales goals to meet your business needs.
What should a manager or company do if a sale target is not reached?
They should talk to staff and have a meeting and ask them to come up with a plan.
The company should fire their staff.
The staff should give special training to management.
The company should give staff coaching to help make more sales.
What is a sales pipeline management?
It is a metal object that is long.
It is your relationship with the customer.
It is the relationship between the manager and the customer.
It is when you monitor your relationship with the customer over a period of time.
Some of the sales related information are past historical data and sales figures. What are some of the others?
Trade magazines and journals.
Fashion magazines and journals.
Educational magazines and journals.
Popular food cooking books.
Qualitative data is data is data that is not given numerically. It’s also when describtive statement are made about a subject based on observations, interviews or evaluations.
True
False
Qualitative data is data that uses numbers.
True
False
Many companies concentrate on improving the way their salespeople manage their time and territories because:
A)the cost of direct selling is rapidly decreasing.
B)the time available for face-to-face customer contact is increasing.
C)there is reduced emphasis on profitability.
D)time is always limited.
Which of the following statements about sales territories is FALSE?
A)A sales territory typically contains customers.
B)A sales territory typically contains potential customers.
C)Companies use sales territories in an effort to insure thorough coverage of the
market.
D)By definition, sales territories have geographic boundaries.
Which of the following companies is most likely NOT to use sales territories?
A)a large consumer products manufacturer
B)a leading small engine manufacturer
C)a real estate company
D)a large textbook publisher
One of the seven key elements of proper time and territory management for the salesperson is:
A)vendor analysis.
B)forestalling.
C)establishment of the quota for the salesperson's territory.
D)the design of a Gantt chart.
Salespeople using the _____ approach recognize their territories contain accounts with varied needs and differing characteristics that require different selling strategies.
A)account segmentation
B)market diversification
C)undifferentiated selling approach
D)territorial development
.When a company directs its sales force members to use multiple selling strategies, its salespeople are expected to:
split commissions if a buyer's purchasing office is in one salesperson's territory and
the retail outlet in the territory of another salesperson.
have several sales approaches planned so that if their first sales attempt is
unsuccessful, they can shift to an alternate approach without delay.
develop a variety of plans for selling the numerous products in the company's product line to a variety of different market segments.
invest the bulk of their time and other resources in the large, important accounts in
their territories
Which of the following are regarded as sources of sales related information? Unit 20 KLO 4.1
Stock checks
Competitor behavior
Trade magazines and journals
a ; b & c
Which of the following is NOT a way data collection is used is to support activities? Unit 20 KLO 4.3
Looking at sales by product (units sold/unsold)
Customer groups
Contingency planning
Purchase history
Which of the following bits of information can be captured by CRM software Unit 20 KLO 4.4
customer orders
purchase history
track online spending habits
all of the above
_______________ helps determine healthy pipeline; leads to investment decisions ; identifies employees/customers over/underperforming ; indicates quality of pipeline ; yields predictions
Historic Data
Inflation
Competition
Business needs
Which of the following provides the backbone of marketing?
A. Sales forecasting
B. Profit forecasting
C. Market targeting
D. Market segmentation
The types of sales forecasting include
A. Micro forecasting
B. Macro forecasting
C. Both (1) and (2)
D. Minor forecasting
Macro forecasting is concerned with forecasting markets in
A. Fragmentation
B. Segmentation
C. Totality
D. Partiality
Micro forecasting determines
A. Product's market share
B. Price's market share
C. Place's market share
D. Product's price
The type of forecasting is selected on the basis of
A. Degree of accuracy
B. Availability of data
C. Product positioning
D. All of the above
Which of the following is/are the type of sales forecast on the basis of time frame
A. Short range
B. Long range
C. Perspective planning forecast
D. All of the above
Sales forecasting involves study of
A. Proper selling price
B. Sales planning
C. Distribution outlets
D. All of the above
Sales forecasting involves
A. Sales Planning
B. Distribution channels C. Consumer tastes D. All of the above
C. Consumer tastes D. All of the above
D. All of the above
'Benchmark' means
A. Sales performance measurement
B. Marks given to salesperson
C. Appraisal
D. Standard values for comparison
Market share means
A. Share capital of the company
B. Staff strength of the company
C. Employees stock option
D. Percentage share of business of the company as compared to peers
Market share can be increased by increasing
A. Raw material cost
B. The staff strength
C. The sales
D. The sales staff
Market size also means
A. Market planning
B. Market pricing
C. Market Space
D. Market distribution
A fall in the market share implies
A. Sales have gone up
B. Profit has gone up
C. Prices are eratic
D. Competition has increased
Injury method of sales forecasting includes
A. Top Jury method
B. Percolated Jury method
C. Both (1) and (2)
D. Delphi method
The analytics and statistical method of sales forecasting include
A. Extrapolation method
B. Moving average method
C. Time series analysis
D. All of the above
The first stage in creating the sales forecasting is to estimate
A. Market demand
B. Profit
C. Wealth
D. Prospect
The component of sales forecast is/are
A. Sales target
B Sales budget
C. Both (1) and (2)
D. Sales volume
Sales forecasting can be based on which of the following information?
A. What customers say about the product
B. What customers are actually doing
C. What customers have done in the past
D. All of the above
A common method of preparing sales forecast consists of
A. Prepare a macro economic forecast
B. Prepare on industry sales forecast
C. Prepare a company sales forecast
D. All of the above
Which of the following are included in sales forecasting?
A. Sales pricing
B. Sales planning
C. Distribution channels
D. All of the above
Sales pipeline management is the organization and tracking of prospects, goals, and quota as well as ……………………….whether certain deals need special attention.
A.)Watching
B.) Finding
C.) Understanding
D.)None of the above
A Sales Pipeline works by placing sales opportunities at different stages of the sales cycle. This is helpful because...
A. We can get an estimation of incoming cash flow over time
B. We can measure the progress through the pipeline and trends from changes we make
C. We can identify "leaks" in the pipeline and focus sales efforts more effectively
D. All of the above
A Pipeline is created by the following information (which one is wrong?)
A. Proposal/Contract Amount
B. Expected Close Date/Actual Close Date/Declined Date
C. Last Modified Date
D. Pipeline Stage (prospect, proposal, verbal, contract, etc.)
F. Probability of Close (%)
What makes up the sales pipeline?
A. Forecasts
B. Products Schedule
C. Opportunities
D. Revenue Groupings
What is a best practice for creating a new opportunity? (Choose 2)
A. Convert it from a Lead
B. Create it from within an Account
C. Manually create it from the Opportunity tab
D. Click Create New Opportunity from the Home page
Many companies concentrate on improving the way their salespeople manage their time and territories because:
A)The cost of direct selling is rapidly decreasing.
B)The time available for face-to-face customer contact is increasing.
C)There is reduced emphasis on profitability.
D)Time is always limited
Which of the following statements about sales territories is FALSE?
A)A sales territory typically contains customers.
B)A sales territory typically contains potential customers.
C)Companies use sales territories in an effort to insure thorough coverage of the
market.
D)By definition, sales territories have geographic boundaries.
Which of the following companies is most likely NOT to use sales territories?
A)A large consumer products manufacturer
B)A leading small engine manufacturer
C)A real estate company
D)A large textbook publisher
One of the seven key elements of proper time and territory management for the salesperson is:
A)Vendor analysis
B)Forestalling
C)Establishment of the quota for the salesperson's territory.
D)The design of a Gantt chart
Salespeople using the _____ approach recognize their territories contain accounts with varied needs and differing characteristics that require different selling strategies.
A)Account segmentation
B)Market diversification
C)Undifferentiated selling approach
D)Territorial development
When a company directs its sales force members to use multiple selling strategies, its salespeople are expected to:
A)Split commissions if a buyer's purchasing office is in one salesperson's territory and the retail outlet in the territory of another salesperson.
B)Have several sales approaches planned so that if their first sales attempt is unsuccessful, they can shift to an alternate approach without delay.
C)Develop a variety of plans for selling the numerous products in the company's product line to a variety of different market segments.
D)Invest the bulk of their time and other resources in the large, important accounts in their territories.
Sami sells security systems. She has just called on a retail store that she believes ought to carry the merchandise she sells. After spending almost an hour showing how her company's security system operated, she learned that her prospect did not have the authority to place an order. What costly time management mistake did Sami make?
A)She did not use the most efficient routing pattern.
B)She did not demand a larger sales territory.
C)She forgot to qualify her prospect before making the sales call.
D)She did not use the ELMS system to prioritize her sales calls.
Robbie sells wrought iron used in the restoration of historical buildings. When Robbie arrived for his appointment with a contractor who was restoring several buildings in a downtown area, he learned that the prospect would not be returning to the office for three hours. What should Robbie do?
A)Use his cell phone to see if a nearby customer is available for a sales call.
B)Place the prospective customer in his orphan file.
C)Sit and wait patiently because a salesperson should never lose a sales opportunity.
D)Use the company system and place the customer in the removal file.
Which of the following provides the backbone of marketing?
A. Sales forecasting
B. Profit forecasting
C. Market targeting
D. Market segmentation
The types of sales forecasting include
A. Micro forecasting
B. Macro forecasting
C. Both (1) and (2)
D. Minor forecasting
