Marketing & Sales Strategies Flashcards
7 cards from real CCS practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Marketing & Sales Strategies flashcards as text
Which pricing strategy involves setting an initial high price and gradually reducing it to attract different buyer segments over time?
Answer: Price skimming
Price skimming captures maximum revenue from early, less price-sensitive buyers before lowering prices to attract more cost-conscious segments.
A condominium community's homeowners association wants to improve its marketing appeal. Which action has the MOST direct positive impact on perceived value?
Answer: Maintaining well-manicured common areas and completing deferred maintenance
Well-maintained common areas signal effective management and community pride, directly improving curb appeal and buyer perception during showings.
What is a 'buyer persona' in the context of condominium marketing?
Answer: A semi-fictional profile representing the ideal target customer
A buyer persona is a research-based profile of the ideal customer, helping marketers craft targeted messages that resonate with the most likely purchasers.
Which factor most directly affects a condominium's days on market (DOM)?
Answer: Pricing strategy relative to comparable active listings
Units priced competitively relative to comparable listings sell faster, while overpriced units linger on the market and accumulate higher DOM.
When a sales agent conducts a competitive market analysis (CMA) for a condominium, what is its PRIMARY purpose?
Answer: To determine a defensible listing price based on comparable recent sales
A CMA uses recent sales of comparable units to establish a market-supported price range, helping sellers price competitively and accurately.
Which type of buyer incentive is typically MOST effective in stimulating sales during a slow condominium market?
Answer: Covering closing costs or including premium upgrades at no extra charge
Covering closing costs or offering upgrade packages provides tangible financial value without permanently reducing the official sale price, protecting comparable values.
A condominium sales team uses a CRM system. What is the PRIMARY benefit in a sales context?
Answer: Tracking prospect interactions and follow-up schedules to improve conversion
CRM systems centralize prospect data and automate follow-up reminders, ensuring no leads fall through the cracks and improving overall sales conversion rates.