3.2 Explain Renewals Manager Tasks 700-805 Practice Questions (Page 2)

Questions 6–10

1. 6foundation · easy

   Which activity is a primary responsibility of a Cisco Renewals Manager?

   • ADeveloping new product features for Cisco's portfolio
   • BSetting the list price for all Cisco products
   • CManaging the renewal of customer contracts and subscriptions
   • DProviding 24/7 technical support to end customers
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2. 7foundation · easy

   What is a key step when generating a renewal quote?

   • AIncluding all products and services that are expiring
   • BAdding a standard 20% markup
   • CSending the quote without review
   • DExcluding any products that the customer rarely uses
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4. 8expert · hard

   A Renewals Manager is assigned a new account that has a history of churn and negative sentiment. The customer's previous Renewals Manager did not engage regularly, and the customer feels undervalued. The renewal is in four months. What is the most effective strategy to build a relationship and improve the likelihood of renewal?

   • AOffer a discount on the renewal to show goodwill and encourage the customer to stay.
   • BSend a personalized email acknowledging the past issues and outlining a plan for regular engagement.
   • CSchedule a face-to-face meeting to listen to the customer's concerns and demonstrate commitment.
   • DWait until closer to the renewal date to engage, giving the customer space.
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5. 9expert · hard

   A Renewals Manager is negotiating a renewal with a customer who is demanding a significant discount. The Renewals Manager has some pricing flexibility but is concerned about setting a precedent for future renewals. The customer is also a strategic account with high growth potential. How should the Renewals Manager approach the negotiation?

   • ARefuse to offer any discount because the customer is strategic and will renew anyway.
   • BOffer a moderate discount and tie it to a longer-term commitment or additional services.
   • COffer the maximum discount to secure the renewal and maintain the strategic relationship.
   • DEscalate the negotiation to the sales director to avoid making a decision.
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6. 10expert · hard

   A Renewals Manager is processing a renewal for a customer in a regulated industry. The customer requests that the renewal contract include a clause that is not standard and may not comply with Cisco's policies. The customer insists the clause is necessary for their compliance. What should the Renewals Manager do?

   • AInclude the clause to meet the customer's compliance needs and secure the renewal.
   • BConsult with the legal and compliance teams to determine if the clause can be accommodated or if an alternative exists.
   • CRefuse to include the clause and tell the customer it is against policy.
   • DSuggest the customer purchase a different product that may not require the clause.
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