EXAM CIPS L4M5 CRAM QUESTIONS | STANDARD L4M5 ANSWERS

Exam CIPS L4M5 Cram Questions | Standard L4M5 Answers

Exam CIPS L4M5 Cram Questions | Standard L4M5 Answers

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Tags: Exam L4M5 Cram Questions, Standard L4M5 Answers, Instant L4M5 Download, Free L4M5 Test Questions, L4M5 Demo Test

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L4M5 Dumps Torrent: Commercial Negotiation & L4M5 Real Questions

Experts have prepared the L4M5 desktop-based exam simulation software. There are L4M5 actual questions in the practice test to give you an exact impression of the Commercial Negotiation L4M5 original test. This type of Commercial Negotiation L4M5 actual exam simulations helps to calm your anxiety.

CIPS L4M5 Exam is suitable for individuals who are involved in procurement, supply chain management, sales, marketing, and any other commercial roles that require negotiation skills. L4M5 exam is particularly beneficial for those who are looking to enhance their negotiation skills and improve their ability to achieve successful outcomes in commercial negotiations. The CIPS L4M5 Exam is designed to help individuals develop a thorough understanding of the negotiation process, and it provides them with the tools and techniques needed to negotiate effectively in a wide range of commercial settings. Overall, the CIPS L4M5 Exam is an essential qualification for anyone who is interested in advancing their career in procurement, supply chain management, sales, or marketing.

CIPS Commercial Negotiation Sample Questions (Q20-Q25):

NEW QUESTION # 20
Premium pricing strategies used by suppliers are characterised by which of the following? Select TWO that apply.

  • A. Price is based on cost structures
  • B. Products are charged at a price based on supplier's reputation
  • C. Typically found in the early part of the product life cycle
  • D. Premium price is determined by variable costs only
  • E. This strategy is often used when supplier attempts to enter new market

Answer: B,C

Explanation:
:
There are several pricing strategies used by suppliers:
Cost-plus pricing - Total variable + Fixed cost + profit
Premium pricing - based on branding. Supplier determines to charge a very high price, not connected with cost structures, usually based on its reputation and/or the perception that the product/service is of a superior quality. This strategy typically found in the early part of the product life cycle/when demand exceeds supply.
Penetration pricing - Supplier attempts to enter a new market or extend its share in an established one. It is characterised by price reductions to increase volume, followed by steady price increases; may even be loss leading at start (no profit made) Marginal cost pricing - covers only variable cost Market pricing - suppliers prices in line with what the market is willing to pay


NEW QUESTION # 21
Information generated through Purchase Price Cost Analysis can be useful to the purchaser, by helping to identify which of the following costs relating to the supplier? Select the THREE that apply.

  • A. Budgeted costs
  • B. Depreciation on equipment
  • C. Material costs
  • D. Market costs
  • E. Profit
  • F. External costs

Answer: B,C

Explanation:
Below are some examples of cost input that can be analysed in PPCA process:
- Material costs
- Process and labour costs
- Employment costs
- Overhead costs
- Distribution costs
- Depreciation on equipment
- Profit
If you want to learn more on PPCA, you can study from OGC document here: https://webarchive.
nationalarchives.gov.uk/20100609100650/www.ogc.gov.uk/documents/Cost_Price_analysis(1).pdf LO 2, AC 2.1


NEW QUESTION # 22
According French and Raven's base model, which of the following are sources of personal power that can be used in commercial negotiation? Select THREE that apply.

  • A. Coercive power
  • B. Legitimate power
  • C. Expert power
  • D. Trademark power
  • E. Competitive power
  • F. Purchasing spend power

Answer: A,B,C

Explanation:
:
A useful model of personal power that has survived the test of time and provide a simple way to analyse negotiation in French and Raven's Power Base Model, which describes six bases of power:
Diagram Description automatically generated


NEW QUESTION # 23
Mike is a junior buyer who has been working for a manufacturing organisation for two years, specializing in purchasing research. Over this time, he has built good relationships within his team and with other departments. Which of the following sources of power is Mike most likely to possess?

  • A. Position
  • B. Reward
  • C. Coercive
  • D. Referent

Answer: D

Explanation:
Referent power is based on personal relationships and the respect or admiration one earns within an organization. Given Mike's positive relationships and his rapport with team members and other departments, he is most likely to have referent power. This power type is influential in negotiation as people are more willing to work with someone they respect, as outlined in CIPS power dynamics in negotiation.


NEW QUESTION # 24
Active listening in negotiation includes which of the following activities?
1. Hearing
2. Interpreting
3. Rapport
4. Influence

  • A. 3 and 4 only
  • B. 1 and 2 only
  • C. 1 and 3 only
  • D. 2 and 3 only

Answer: B

Explanation:
Listening is a hugely important skill in the world of work. It's a key part of effective communication [...].
Regarding active listening, there is a model called 'The SIER Hierarchy of Active Listening'. It details four key stages required for effective listening. As with all models associated with active listening, its purpose is to help the listener be a better, more effective listener who really hears what is being said, connects with the individual with whom they are communicating and builds effective relationships.
The model is a hierarchical model meaning that each stage builds on the stage before it. While the model is sometimes used for training in the sales arena, it is helpful in all walks of life. The stages of the model are:
Sensing (including hearing and watching body language), Interpreting, Evaluating and Responding.


NEW QUESTION # 25
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