Expected format: Short Answer. Throughout the business scenario provided, 10 blanks have been added and are indicated by _____________. Each blank has a number associated with it. Determine the terms that best fill the blanks, and enter them in the numbered list provided at the end of the business scenario description. IMPORTANT: When selecting your terms to fill in the blanks, use specific business terminology we have discussed in class and that appears in your textbook and chapter PowerPoints. Generic terms will be graded as incorrect. Submission: Please type your answers directly into this document and resave the file with your full name included at the end of the file name Important: This is an individual assignment. Please complete this assignment independently. Assessment: This assignment will be given a grade out of 10. One mark for each correct blank. Business Scenario Fill in the Blanks (at the bottom of the document not directly into the paragraphs) You are a financial advisor, providing investment and retirement planning advice to high net worth individuals. Part of your job responsibility is to identify, approach, persuade and close new clients. You then work with them to develop a plan for their personal finances, and maintain the relationship with ongoing consultation. Your companys marketing team recently hosted a networking event and generated several leads (new prospective clients). You have been handed contact information for a prospect Cheryl Miller who asked that an advisor reach out to her. With the prospecting complete, its time to move on to the next step in your selling process, which is called the (1) ____________________. During this step, you attempt to learn information about Cheryl that can help guide your approach. Linkedin proves to be a very useful source of information. You learn that Cheryl is the Senior Vice President of Information Technology for a very large charitable organization. You also learn that she sits on two different Boards and is active in several industry associations. A Google search reveals that she is

a widely-quoted thought leader in her industry, writing authoritatively about the importance of data security in the world of charitable organizations. You decide your first volley (your Approach) will take the form of an email. In that email you thank Cheryl for attending your companys networking event and ask if she would be interested in meeting to discuss the financial consulting services you can offer. Her single line reply to your email is straight to the point: Hows 3pm tomorrow my office? is all she writes. This confirms your suspicion that Cheryls Social Style is a 2) __________________. As you prepare for the meeting, you know you have to focus on objectives and not bog Cheryl down with details unless she takes you there. You arrive 5 minutes early and are invited into Cheryls office. Not surprisingly, Cheryls office is sparse and utilitarian. The first piece of information she shares is helpful: Cheryl has never worked with a financial planner and has very little experience dealing with her personal finances. This allows you to immediately assess the Buying Situation at hand. As the seller of financial planning services, you will have to invest considerable time into educating and convincing Chery. This Buying Situation is called 3) ______________. You introduce Cheryl to the various financial and investment planning services you can provide, and share your credentials and experience. She is focused on her key objectives: 1) saving and investing sufficiently to afford extensive travel after retirement and 2) saving sufficiently to fund post secondary education for her elementary school-aged children. You explain to Cheryl that you can help her to invest in funds that are likely to appreciate in value over the long term even though there may be some years when they in fact decrease in value. Later in the conversation, however, Cheryl indicates that she is pleased to hear that the funds you are offering are pretty much guaranteed to increase in value every year. This makes you concerned that there has been a misperception, and that Cheryl is demonstrating a perceptual distortion called 4) _______________. You take care to correct the attitude or belief that may be informing the perception issue. Your meeting is positive, and you make plans to visit Cheryl again to further discuss a possible fit between her needs and the service your company offers. Her husband is present at this second meeting, as is her Father-in-Law. Clearly both will be engaged in the decision. The size of your 5) _____________ has just tripled!

Cheryls husband has a very different demeanor compared to his wife. He is quite shy and, unlike Cheryl, wants to dive into the details of your offering. You suspect his Social Style is 6) _________________, which means you will have to clearly present facts and details, and be prepared to dive into minute analysis. Cheryls Father-in-Law is another type altogether. His is direct and assertive like Cheryl, but is much friendlier and happy to share personal details. He is clearly pleased to be part of the process and seeks praise from everyone at the table for his willingness to get involved. You suspect his Social Style is 7) ______________ and decide that you will need to give him a little time in the spotlight, and recognize his contributions, to keep him engaged. Despite the presence of the men at the table, it is clear that Cheryl is both your primary buyer and the Decider. You determine that both Cheryls husband and Father-in-Law will play the role of 8) _____________. After several more meetings with Cheryl, you develop a detailed plan and secure the business. She is now a revenue-generating customer for your firm. You have worked hard to set her expectations properly to help protect against Cheryl experiencing any 9) _____________ after purchasing your firms services. You dont want her feeling a disconnect between what was promised and what is delivered post-purchase. She could, after all, become a very important source of new customer referrals for you. In fact, just two weeks after closing the deal with Cheryl, she invites you to meet with the Chief Financial Officer at her company, to discuss her companys financials services needs. The organization already has a provider of financial services but has recently become unhappy with their pricing. You recognize this B2B buying situation as a 10) _____________, and jump at the opportunity to steal the business. Your responses: 1. 2. 3. 4. 5. 6. 7. 8. 9.

10.