NaimExplain

In addition to the 4 most common/standard types of sales role, what are two other potential sales roles? Answer: Fieldworkers

Define "evaluated price" over the life of a product Answer: total cost of ownership

What sets the upper limit on the price that can be charged for a good or service? Answer: Total cost of production of product/service in order to get a minimum. Then the marketer must see if there are other competitors in the market and see what they are pricing for similar products/services. What sets the upper limit on the price is most definite accounted and depended on the willingness to pay from the consumers, and elasticity of the market/product. If inelastic, demand is high so you can set a high price and your customers will still buy and have to pay that price. If consumers demand and need/want is high for a product/service you can set an upper limit on price.

Name the three key reasons/market conditions that would cause switching from a skimming pricing strategy to a penetration pricing strategy to make sense. Answer: Elastic Market Create Barrier Economies of Scale

Name and describe the five primary ways B2B marketers define segments? Answer: Measurability- characteristics of segment, how big? Accessibility- can we access this segment, can we reach them? are they attainable? Substantiality- size of the segment, is it growing? Differentiability- can our segments be distinguished? Actionability- what can we do about it?

What are the two distinct functions typically found in a Market Intelligence Organization? Describe each and explain how they differ. Answer: Market Research: collection of data related to a specific problem, looking for solutions to the problem and specific processes a company needs to go about it. It is very specific, long, on-going process and includes primary data and secondary data Competitive Intelligence: knowing your competitors and your consumers. It is not as specific as MR but just as important. Not only do you need to know your competition but their strengths, weaknesses, markets...

Which is the most powerful category of B2B analytics, and why? Answer: Predictive Analytics - it is most powerful because it pulls together all of the information gathered from the other three categories (web, marketing, and consumer analytics) and looks toward the FUTURE. Whether it is the immediate future (within the year), intermediate future (1-2 years) or distant future (5+) it is important to use the info gathered from the other three and know how you can win the market now, later, and eventually how you can control and own the market in the future.

Name the two primary aspects of risk, and describe each. Answer: Probability = the likelihood of it happening Severity = the cost of it happening