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WorksheetsWaters Corporation Quiz
Total questions: 1
Worksheet time: 50mins
What was the cornerstone of the business and a big part of the Waters culture according to the document?
The Waters Difference
The Waters Performance
The Waters Innovation
The Waters Technique
What technique did Waters Chromatography Division specialize in?
High performance solid chromatography
High performance liquid chromatography (HPLC)
Basic liquid chromatography
Advanced gas chromatography
What was the approach that Waters Corporation used to build their business?
By providing the lowest prices in the market
By offering the most advanced technology
By helping customers with their separation problems
By selling the highest quantity of products
According to Chane Graziano, why is the Waters field organization staffed by expert chemists?
To offer the best customer service
To provide strong customer support at a premium price
To maintain a high level of technical expertise
To increase sales volume
What does Bob Retz suggest is necessary for success in selling solutions to problems?
A strong technical background
The ability to close the order as soon as they might
Being flexible and responsive to customer needs
Selling at the lowest possible price
What was the objective of HPLC technology?
To develop new chemical mixtures
To separate a complex chemical mixture into its individual components
To create a new type of chemical detector
To increase the speed of chemical reactions
What was the estimated worldwide market for HPLC in 1984?
$142 million
$350 million
$525 million
$70 million
Which company had the largest market share in the HPLC market according to the text?
Hewlett-Packard
Varian
Waters
Perkin Elmer
What percentage of Millipore's total net revenues did the Waters Chromatography Division represent in 1984?
15%
43%
62%
36%
What did the HPLC instruments sales represent as a percentage of total Waters' revenues in 1984?
Over 60%
Over 43%
Over 36%
Over 48%
What was the percentage change in sales for Instruments from 1983-Actual to 1984-Forecast according to Table B?
7.2%
16.9%
18.3%
20.9%
Which product line had the highest percentage change in sales from 1983-Actual to 1984-Forecast?
Instruments
Chemical products
Spare parts and service
Other
What was the average customer order amount for the Waters chemical products line in 1983?
(a)
As of 1984, which department did the heads of the Waters Chromatography Division's business operations report to?
Marketing
Research and development
Human resources
U.S. business operations
Who was named president of the Waters Chromatography Division in 1983?
The head of manufacturing
The head of marketing
Bill Shippey
The head of research and development
What percentage of Waters' total dollar volume was involved in the management of U.S. national accounts by the National Accounts Manager (NAM)?
About 25%
About 45%
About 60%
About 75%
Which of the following was NOT listed as a responsibility of the National Accounts Manager (NAM)?
Contract negotiations
Monitoring major account program details
Restructuring the NAM compensation package
Providing secretarial support for field sales activities
As of the latest update in the document, what is the status of the National Accounts Manager (NAM) position?
It has been filled recently
It has been eliminated
It is still vacant
It has been outsourced
Which course is NOT part of the standardized training program for new field sales personnel at Waters?
Basic selling, which teaches a consultant-style approach
Competitive selling, which focuses on competitive strategies
Analytical chemistry
Advanced HPLC techniques
What is the primary goal of the customer support group at Waters?
To increase sales through aggressive marketing
To get the right people doing the right thing when a customer calls
To provide technical assistance with application or equipment problems
To manage instrument orders and chemical products orders
What percentage of instrument orders and virtually all chemical products orders were placed by mail or telephone?
25–50%
50–75%
75–80%
90–100%
Since when have U.S. field operations been divided into three areas?
Since 1971
Since 1981
Since 1991
Since 2001
What was the primary responsibility of the Regional Manager (RM)?
To manage the applications laboratory
To maximize revenues from an assigned geographic region
To handle customer support calls
To supervise the production line
How many area general managers were there in the 1984 U.S. field organization?
3
5
8
26
What was the salary range for an area general manager, excluding potential commissions?
$40,000–50,000
$50,000–60,000
$75,000
$100,000–120,000
What did the customer support department include?
A six-person telephone-lead screening group
A three-person sales team
A five-person marketing team
An eight-person research group
What was the role of field marketing managers?
To supervise the applications laboratory
To manage the customer support department
To focus on specific products or markets and generate leads for sales follow-up
To directly supervise sales representatives
What was the base salary for service representatives at Waters Chromatography Division?
$24,000
$3,000
$25,000
$1.3 million
How much could service representatives earn in bonuses and sales of spare parts, accessories, and chemical products?
$24,000
$3,000–$5,000
$25,000–$35,000
$1.3 million
What was the average age of the new field sales recruits at Waters in the 1980–1984 period?
25 to 30 years old
20 to 25 years old
30 to 35 years old
35 to 40 years old
What was the average number of customer accounts a salesperson managed in 1984?
20 to 100 customer accounts
10 to 50 customer accounts
100 to 200 customer accounts
200 to 300 customer accounts
What was the total sales generated by one salesperson in 1984?
$24,000
$3,000–$5,000
$25,000–$35,000
$1.3 million
What was the main reason for the shift in hiring policy for field sales at Waters in the early 1980s?
The HPLC market had shrunk
The company wanted to reduce salaries
The company was losing hardware business because new recruits lacked technical training
There was an oversupply of expert chromatographers
What was included in the sales representative's compensation package at Waters Chromatography Division?
Base salary and commission only
Base salary, sales incentive program, expense account, and the use of a company car
Base salary, a 10% commission on sales over $60,000, and a trip to Hawaii
Base salary, sales incentive program, and stock options
What was the average salary increase tied to U.S. inflation rates for a salesperson with 10 years of experience at Waters in 1984?
From $24,000 to $42,000
From $34,000 to $60,000
From $24,000 to $34,000
From $42,000 to $60,000
What percentage of sales representatives at the time of hire did not plan a career in sales at Waters?
10%
70%
20%
50%
What was the estimated annual field sales turnover at Waters?
10-20%
20-30%
15-25%
5-15%
Which territories was Ray given a choice of upon his return to the New England region?
An industrially oriented area and a biologically based area
Downtown and the Massachusetts Medical Center
Downtown and a suburban area
An industrially oriented area and the Massachusetts Medical Center
How much did Ray earn in sales commissions in 1984?
$14,000
$24,000
$26,000
$34,000
What position did Ray hold at Waters in 1973 before being transferred to a management position at Waters headquarters?
Regional sales manager
Field sales representative
New England regional manager
Technical support engineer
How much did the sales volume increase in New England from 1980 to 1984 under Rod Bretz's management?
From $2.4 million to $9.5 million
From $1.4 million to $5.9 million
From $2.9 million to $4.5 million
From $1.9 million to $8.5 million
What was the main reason Ray decided to return to field sales?
He was not satisfied with the management position
He missed the technical aspects of the job
He found no fun in management and enjoyed being a salesman
He wanted to work from home
According to Bretz, what is the primary role of a salesperson in their business?
To have strong chemistry backgrounds
To be a broker for the technical know-how
To manage the sales territories
To provide technical support only
How did Ray Burnett define his field sales position?
As a way to provide technical support
As running his own little business
As a means to travel and work from home
As a job focused on customer service only
What percentage of Ray's time was spent on direct selling, according to his estimate?
25%-30%
40%-50%
60%-70%
80%-90%
What was the main industry in Ray's sales territory in central Massachusetts in 1983?
Technology and software companies
Medical and hospital facilities
Educational institutions
Nuclear power and energy
What was Ray's sales quota for 1984?
$1.7 million
$1.5 million
$2 million
$1 million
What did Ray feel was a limitation in pursuing new business opportunities?
He had too many existing customers to manage.
He felt the commission plan was not adequate.
He had little time to pursue them.
He was not interested in new business development.
What is the main issue Ray has with the current bonus plan according to the text?
It is based on volume growth.
It encourages a 'sell and run' attitude.
It has not changed since 1980.
It is too complicated for the sales force.
Why did Chane Graziano contact Ray?
To discuss opening a new Waters Chromatography office.
To offer Ray a job in the home office.
To complain about the service.
To negotiate a better price for products.
What were the three considerations that Ray felt were important for the business purchase decision of the NAM position?
What was the subject of the promotional materials and the technical bulletin that Teddie Peanut Products received from Waters?
Determination of Aflatoxins in Peanut Products by HPLC.
New advancements in HPLC technology.
Quality control procedures for food products.
Cost-effective solutions for laboratory equipment.
What prompted Joe to call Waters Chromatography Division?
He needed to replace an old laboratory instrument.
He was interested in monitoring aflatoxin levels in peanuts and peanut products.
He wanted to purchase a new HPLC system for his laboratory.
He was looking for a job in quality control.
What was Ray's response when Joe expressed concerns about the cost and speed of the Waters system?
Ray ignored Joe's concerns and continued with his sales pitch.
Ray assured Joe that Waters would provide assistance in installing the system and debugging the application.
Ray offered Joe a discount on the system to alleviate cost concerns.
Ray suggested that Joe should consider other vendors.
What did Ray learn about Joe's staffing situation when discussing aflatoxin analysis?
Joe had a large team of qualified personnel.
Joe would need to hire a new, technically qualified person.
Joe's staff was fully trained in HPLC techniques.
Joe was planning to outsource the aflatoxin analysis work.
What was the main concern Joe had about the automated package offered by Waters?
It was too complex for his current staff to operate.
It did not include technical support and servicing.
It was specific to aflatoxin analysis, which was not his primary interest.
It was too expensive for his budget.
What was Ray's observation about the support staff at Waters when discussing the installation and initial training of the HPLC system?
The support staff was highly efficient and always available.
The support staff was often too busy to provide timely assistance.
The support staff was not technically qualified enough.
The support staff was outsourced and not part of Waters.
What was the estimated cost of a Waters 840 capable of handling the cardiac research laboratory's three instruments?
$30,000
$40,000
$50,000
$20,000
How many Waters HPLC systems did the cardiac research laboratory have?
One
Two
Three
Four
What was Dr. Margolis' position at the Massachusetts General Hospital?
Laboratory Manager
Chief of Cardiac Surgery
Cardiac Research Assistant
Chief of Cardiac Research
When did Ray advise Dr. Margolis that the next availability date for the Waters 840 would be?
March of 1984
March of 1985
March of 1986
March of 1983
What was the Waters' buy-back policy based on?
10% depreciation per year of use
20% depreciation per year of use
30% depreciation per year of use
40% depreciation per year of use
Which magazine published an article about the new Waters amino acid analyzer?
Science
Nature
Cell
The Lancet
What was the main reason Ray visited the Massachusetts General Hospital, Radiation Biology Laboratory?
To attend a personal appointment.
To fix a malfunctioning replacement instrument.
To sell a $60,000 instrument system.
To make a telephone call.
What did Ray do when a problem with the new system arose?
He ordered a new system.
He brought in his own instrument as a temporary substitute.
He waited for the customer to fix it.
He ignored the problem.
How did Ray assist Bill with the malfunctioning instrument?
By providing a spare part from another instrument.
By calling the Service department for immediate assistance.
By offering to come in and explain to Bill's supervisor why the new system start-up had been delayed.
By selling him a new instrument.
What percentage of Ray's calls involved problem solving?
A small percentage.
About half of the calls.
A large percentage.
None of the calls.
What was the outcome of Ray's favorite call, which he made in the late afternoon?
He helped a customer with a technical issue.
He received an offer for a job in marketing.
He arranged a bank transaction for a customer.
It culminated in a customer commitment to buy a $60,000 instrument system.
What is the purpose of the column in an HPLC system according to the text in the image?
To pump the solvent through the system
To inject the sample into the system
To separate the components based on their different rates of progression through the column's packing material
To record the results of the chromatography
What can be detected and quantified at the end of the HPLC process as described in the image?
The solvent
The pump efficiency
The injector's precision
The components of the sample
According to the chromatogram in the image, how are the components of the sample identified and quantified?
By the color of the components
By the comparison of the positions and heights of the peaks with known standards
By the size of the components
By the temperature of the components
What was the gross margin in dollars for Waters Chromatography Division in 1983?
$72.0 million
$85.2 million
$48.0 million
$54.0 million
What is the forecasted percentage of sales for corporate contribution in 1984 for Waters Chromatography Division?
12.5%
14.4%
45.6%
60.0%
By how much did the forecasted operating expenses change from 1983 to 1984?
Increased by $10.0 million
Decreased by $10.0 million
Increased by $8.7 million
Decreased by $8.7 million
What was the forecasted sales growth from 1983 to 1984?
$22.0 million
$20.0 million
$18.2 million
$22.2 million
Who held the position of President in Waters' 1984 Partial Organization Chart?
C. Graziano
W. L. Shippey
J. Sweeney
R. Bretz
How many Office Assistants were there in the East Area General Manager's office according to the Waters' 1984 Partial Organization Chart?
1
2
3
4
Which position directly reports to the VP of Worldwide Business Operations in Waters' 1984 Partial Organization Chart?
Area General Manager East
National Accounts Manager
Customer Support
General Manager Europe
What is the total number of staff positions filled in the Sales department under the Regional Manager New Jersey as of November 1984?
7
8
15
16
Who is the Regional Manager for New England in Waters' 1984 Partial Organization Chart?
R. Bretz
R. Burnett
J. Sweeney
W. L. Shippey
Under the annual plan, what percentage commission did sales representatives receive on the first $300,000 in territorial growth versus base business?
10%
4%
50%
100%
How much commission did sales representatives earn on sales in excess of the quota figure?
4%
10%
50%
100%
What was the commission on each instrument system sold, as defined by the incentive program?
$300
$500
$100
$1,000
What were the quarterly plan earnings considered as against the annual plan?
A bonus
A draw
A fine
A loan
What was the total 1984 bonus for a sales representative who met all quarterly goals and had an annual plan earnings of $22,000 with a quarterly draw of $8,000?
$14,000
$22,000
$30,000
$8,000
What time did Ray Burnett's appointment with the Quality Control/Assurance manager at the Teddie Peanut Products, Inc., factory take place?
9:00–10:00 A.M.
10:00–10:30 A.M.
11:00–11:30 A.M.
10:30–11:00 A.M.
Where did Ray Burnett drive to after his first personal call?
Harvard Business School
Otis Clapp
Massachusetts General Hospital
Teddie Peanut Products, Inc., factory
What was the purpose of Ray Burnett's visit to the Massachusetts General Hospital at 3:00 P.M.?
To check equipment breakdown
To drop off replacement instrument part
To have a meeting with the Chief of Cardiac Surgery
To make phone calls from the hospital lobby pay phone
What did Ray Burnett do between 4:45–5:00 P.M.?
He drove casewriter to HBS and headed home.
He made a fourth personal call.
He walked to another Massachusetts General Hospital building for an appointment with Radiation Lab technician.
He had lunch.
Why was Ray Burnett's lunch longer than usual on November 14, 1984?
Because he was discussing Waters with the casewriter.
Because he made phone calls from a restaurant pay phone.
Because he had an appointment with the Quality Control/Assurance manager.
Because of the presence of the casewriter.
