Archive for month: September, 2020

Humans have three types of cone cells in their eyes, which are responsible for color vision. Each absorbs a certain part of the visible spectrum. Suppose a particular cone cell absorbs light with a wavelength of 572.

The solubility product of Cu(OH)2 is 4.8 x 10-20. Calculate the value of pCu2+, or -log[Cu2+], in an aqueous solution of NaOH which has a pH of 12.63 and is saturated in Cu(OH)2.  

The equilibrium constant for the formation of Cu(CN)42- is 2.0 x 1030. Calculate the value of pCu2+, or -log[Cu2+], if we were to dissolve 2.90 g of CuCl2 in 1.000 L of a solution 0.850 M in NaCN. The addition of CuCl2 does not alter the volume (the final volume is still 1.000 L).

Case Study:Setting Prices for Walkers

Wal-Mart sells a walker called the Carex Explorer for $59.92. Medicare covers the Explorer, but it used to pay more than $100 (Leonhardt 2008). Between 1989 and 2011, Medicare paid for equipment such as walkers using a fee schedule equal to 95 percent of a product’s average wholesale price (an unverified number provided by manufacturers). This system kept Medicare fees substantially higher than typical retail prices (US Government Accountability Office 2012).As a part of the Medicare Modernization Act of 2003, Medicare accepted bids for ten types of equipment in ten metropolitan areas. The median accepted bid was 26 percent lower than the existing Medicare fee. Equipment manufacturers and retailers responded by lobbying Congress to discard the bids and delay the program, and the House of Representatives obliged by passing a bill to ditch the bids. In fact, it was only with the passage of the Affordable Care Act that Medicare was able to launch competitive bidding in 2011 (Japsen 2013). Even though Medicare anticipated savings of 45 percent on competitively bid products and 72 percent for mail-order products, in 2013 more than 200 members of Congress signed a letter asking that the program be delayed (Blum 2013). This example demonstrates three points. First, a well-designed bidding process can result in lower prices for public pro-grams. Second, such programs are expensive and take a long time to set up and implement. Third, efforts to switch to a bidding process will encounter opposition from those whose profits are at risk.

Please be as detailed as possible in the responses to the questions.

Discussion questions:

• What are the risks of a bidding process like the one described in this case?

• Why would elected representatives side with the manufacturers and retailers on this issue?

•What problems other than paying too much might distorted (cost is outside of a reasonable amount) fee schedules cause?

5 points  

QUESTION 2

1. When Leveraging from Strengths, these strengths are best defined as…
2. a.any and all advantages you have over the competition
3. b.areas of differentiation that are relevant to a single sale and difficult to imitate
4. c.all the product features listed in your sales brochure
5. d.all the Red Flags that have been identified and addressed

3 points  

QUESTION 3

1. Click on the Buying Influence below who is most favorably positioned to positively impact the sale based on the variables shown. Be sure to click WITHIN the graphic on the appropriate ROW. 
2. Selected Coordinates
3. 61, 96Clear

3 points  

QUESTION 4

1. When rating a Buying Influence’s receptivity to our sales proposals we use which of the following scales?
2. a.Disinterested – Interested – Receptive – Ready2Buy
3. b.Cold Lead – Warm Lead – Hot Lead
4. c.Overrated – Fairly Rated – Underrated
5. d.Antagonistic – Negative – Interested – Enthusiastic

3 points  

QUESTION 5

1. Select the incorrect statement from the list below. In attempting to achieve sales success in Making the Consensus Sale, sales reps should…
2. a.Help develop a common set of terms to bring clarity to the decision process
3. b.Develop marketing content that is generic and benefits-oriented rather than heavily tilted towards his company’s product
4. c.Encourage an internal player to adopt a Mobilizer role to move decision makers towards a consensus
5. d.Be aggressive about selling his company’s solution as early as possible in the purchasing process

3 points  

QUESTION 6

1. Which phrase best fits with the User Buying Influence’s perspective?
2. a.It needs to meet strict specifications
3. b.It needs to be sourced at a cheap price
4. c.It’s personal…
5. d.It’s all about the ROI

3 points  

QUESTION 7

1. Click on the Buying Influence who is least likely to be motivated to act based on the following variables. Be sure to click WITHIN the graphic on the appropriate ROW. 
2. Selected Coordinates
3. 60, 219Clear

3 points  

QUESTION 8

1. “Caveat Venditor” means Let the Buyer Beware.
2.  True
3.  False

3 points  

QUESTION 9

1. Select the most correct and appropriate phrase below.
2. a.B2B decision makers make decisions based largely on lowest cost to purchase
3. b.B2B decision makers make decisions entirely based on organizational RESULTS
4. c.B2B decision makers buy based on facts but justify based on emotions
5. d.B2B decision makers purchase based on emotions and justify based on facts

3 points  

QUESTION 10

1. Select the one item below that does NOT describe characteristics of a complex sale.
2. a.The purchase constitutes a long term commitment for the customer
3. b.The seller has many options and looks for the right customer fit
4. c.The customer’s operations are so specialized that they must buy from one supplier
5. d.Multiple individuals and functions are involved in the customer’s decision

3 points  

QUESTION 11

1. Which one of the items below is not one of the key outcomes of a successful sale?
2. a.Customer is willing to provide good referrals
3. b.A satisfied customer
4. c.Customer willing to give you repeat business
5. d.A promising long-term relationship
6. e.Charging and getting an unusually high price

3 points  

QUESTION 12

1. Which statement below best supports Daniel Pink’s view that “We’re all in sales now”? 
2. a.We all need to be able to sell how valuable we are to an organization to keep our jobs and get ahead
3. b.We need to have effective powers of persuasion to be successful in interviewing for new opportunities
4. c.Eighty-five percent of workers will hold a sales job at some point in their career 
5. d.While not strictly sales people, many of us have roles that require convincing people to exchange something of value for an offer we are making 

3 points  

QUESTION 13

1. Select the one TRUE statement below about Economic Buying Influences.
2. a.This buyer type is easy to identify and is very approachable
3. b.This buyer type has veto power and can say NO when everyone else says YES 
4. c.Every organization has one and only one Economic Buying Influence
5. d.There can be several of them involved in deciding on a Single Sales Objective

QUESTION 14

1. When practicing Attunement, which one attitude or activity fits best?
2. a.Asking hopeful questions of yourself about how to be of help
3. b.Burrowing into a customer’s operation to identify unknown problems
4. c.Creating a strategic map of how various buyers are related to each other
5. d.Using your “best friend” voice in each sales presentation

QUESTION 15

1. Select the one task that a Coach WILL NOT do for a sales rep
2. a.Help the sales rep deliver a sales presentation to his or her peers
3. b.Provide guidance in removing Red Flags or Leveraging Strength
4. c.Identify the degree of influence possessed by the other Buying Influences
5. d.Help validate the Single Sales Objective

QUESTION 16

1. When trying to reach and persuade the Economic Buying Influence which item below is not one of the three most common challenges?
2. a.Encountering difficulty in dealing with blockers
3. b.Encountering difficulty identifying the right individual
4. c.Sales rep lacks the confidence to approach a senior business leader
5. d.It would be a violation of customer’s compliance rules

QUESTION 17

1. In the book To Sell is Human, the author argues that…
2. a.Selling roles have increased due to expansion of the healthcare and education sectors
3. b.Selling is less important than it used to be due to information asymmetry
4. c.There are fewer professional sales people due to recent economic downturns
5. d.There are more sales professionals because selling is less complicated than it used to be

QUESTION 18

1. As a sales rep, having a Red Flag on one of your accounts is an embarrassment to be avoided.
2.  True
3.  False

QUESTION 19

1. For a Single Sales Objective, select the one true statement.
2. a.There can only be one User Buying Influence
3. b.There can only be one Technical Buying Influence
4. c.There can only be one Economic Buying Influence
5. d.There can only be one Mobilizer

QUESTION 20

1. A Single Sales Objective is best described as…
2. a.the specific Wins that were identified by each Buying Influence 
3. b.a vaguely defined desire for a better relationship with the customer 
4. c.a specific product or service you’re planning to sell for a targeted amount in a specific time frame 
5. d.the sum of all the different things you might sell in the next year

QUESTION 21

1. Select the answer that BEST describes the criteria for a Coach.
2. a.The sales rep must have personal credibility with the Coach
3. b.The Coach must have credibility with the other Buying Influences
4. c.The Coach will earn a commission on the sale if his company buys from the sales rep
5. d.Both A and B above
6. e.A, B and C above

QUESTION 22

1. Select the transaction below that BEST meets the criteria of a Complex Sale
2. a.Buying a new cable TV service
3. b.Buying a life insurance policy
4. c.Buying a new primary residence
5. d.Buying an engagement ring

QUESTION 23

1. When practicing Buoyancy, which one attitude or activity best fits?
2. a.Reframing difficult solutions to avoid drowning the customer in details
3. b.Before the sales call, asking yourself hopeful questions like “Can I succeed?”
4. c.Floating new ideas to your customer to address unmet needs
5. d.Expressing empathy for trouble conditions in your customer’s organization

QUESTION 24

1. Which Strategic Buying Influence most closely fits the Mobilizer characterization in the Making the Consensus Sale article 
2. a.The Economic Buying Influence
3. b.The User Buying Influence
4. c.The Technical Buying Influence
5. d.The Coach

QUESTION 25

1. In the Consensus Sale article, which step was considered the most important place to start.
2. a.Connecting each decision maker with your company to get them committed to your solution
3. b.Connecting internal decision makers with each other to establish common goals
4. c.Collaborating with the most powerful internal decision maker to convince other functions that you are the best candidate to buy from
5. d.Convincing decision makers that your competition can not match your solution

QUESTION 26

1. Select the one TRUE statement below about The Coach.
2. a.The Coach is sought out and selected by the sales rep
3. b.The Coach is always located within a customer organization
4. c.The Coach is selected unanimously by the customer organization
5. d.The Coach is never found within a customer organization

QUESTION 27

1. Identify the most challenging Buyer Response Mode that a sales rep has to deal with
2. a.Buyer is Overconfident
3. b.Buyer perceives Trouble
4. c.Buyer perceives Growth
5. d.Buyer is Even Keel

QUESTION 28

1. In Strategic Selling, the Receptivity Rating is a scale from +5 to -5 that rates which of the following?
2. a.How a buying influence feels about your company
3. b.How a buying influence feels about your current sales proposal
4. c.How buying influences feel about their mobile phone reception
5. d.How a buying influence feels about you, the sales rep as person

QUESTION 29

1. Select ALL the characteristics below that pertain specifically to Ambiverts
2. a.Motivated by external recognition, rewards and feedback
3. b.Skilled at communication – senses when to listen or talk
4. c.Socially flexible – comfortable with people or alone
5. d.Moderate in mood – not overly expressive or reserved
6. e.Processes thoughts while talking
7. f.Energized by external stimulation – people, environment, activity

QUESTION 30

1. Select the one phrase below that does NOT fit with common perceptions of “The Old ABCs of Selling”
2. a.Deceit, deception and sleaze-baggery
3. b.Always be Closing
4. c.Third Prize is “You’re Fired!’
5. d.Caveat Emptor
6. e.Information parity

QUESTION 31

1. Which of the following is not a situation calling for a Red Flag?
2. a.There are new, or as yet un-contacted key Buying Influences
3. b.Critical information about a prospect’s needs is missing or unclear
4. c.Your prospective customer’s organization has just announced a major reorganization
5. d.Your prospective customer has never purchased anything from your competitor

QUESTION 32

1. Which phrase best fits the Technical Buying Influence’s role?
2. a.He is the favorite target of sales reps because he has budget responsibility
3. b.His primary role is to serve as a Mobilizer of internal support for the sales rep
4. c.He has veto power but can’t exercise final approval
5. d.He has veto power because the Economic Buying Influence works for him