Advanced Bionics Is a Global Leader in the Development of Implantable,high-Tech

question 182

Multiple Choice

Advanced Bionics is a global leader in the development of implantable,high-tech neurostimulation devices used to treat deafness and chronic pain.Just two-and-a- half years after introducing its new stimulators,the firm is doing $200 million in domestic sales.
How has Advanced Bionics been so successful? Its success can be attributed to its outstanding products and to three aspects of its sales approach.First,Advanced Bionics hired the right talent for its sales force.Companies tend to use experienced sales reps-often hired away from competing companies-to sell new medical devices.This can be very expensive since experienced reps generally expect as much as $200,000 in annual income.So when Advanced Bionics brought its medical device to market,it hired people with no experience selling medical devices and turned them into sales reps.Hiring inexperienced salespeople created some problems,however,and the company experienced high turnover rates during its first two years in operation.Second,Advanced Bionics provided salespeople with a rigorous training program.Third,Advanced Bionics allowed salespeople to plan their own activities while managers monitored their progress and pushed them to improve.In short,the company has been able to succeed by selecting good salespeople,training them well,and managing them carefully
-Refer to Advanced Bionics.District sales managers at Advanced Bionics often spend three days per week in the field coaching and monitoring sales reps.This time in the field with sales reps is an important final task in the management process known as:

• A) compensation
• B) networking
• C) quota determination
• D) qualifying sales leads
• E) evaluating performance

---

Definitions:

Expiration Date

The last day on which an option or futures contract is valid or can be exercised.

Option

A financial derivative that gives the buyer the right, but not the obligation, to buy or sell an underlying asset at an agreed-upon price within a specific timeframe.

Exercised

In financial terms, refers to the act of utilizing the rights provided by a derivative contract, such as executing a buy or sell order under the terms of an option contract.

American Call Option

A financial contract that gives the holder the right, but not the obligation, to buy a specified amount of an underlying asset at a specified price within a certain time period.