Exam 9: Developing and Qualifying Prospects and Accounts

Cold calls should not be used to introduce a new product or service.

What will be the most likely outcome for Charles due to the retiring representative's lack of record-keeping? A)Charles' sales will track way behind those of the retiring representative,and he will be docked pay and denied promotions. B)Since Charles is starting from almost scratch developing a prospect and customer base,he will lose some current customers because he does not know about them. C)Charles will be unlikely to develop sales presentation skills because of the time required to track referrals. D)Since Charles does not need any information from the retiring representative,he will conduct more cold calls and develop a larger base of qualified customers. E)Charles will continue maintaining the retiring representative's accounts as usual without any changes in strategy or implementation.

A typical company will lose approximately what percent of its customers every year? A)5 to 10 B)15 to 20 C)25 to 30 D)35 to 40 E)45 to 50

A salesperson with sales intelligence will most likely be able to create value for a prospect by having an understanding of the: A)software analytics of the firm B)product or service being sold C)culture and vision of the prospect's firm D)social and business background of the prospect E)special discounts available from the prospect's firm

Cold calling can be an effective technique for reaching: A)decision makers B)senior executives C)potential prospects D)buying centers E)qualified leads

The sales funnel model of classifying prospects involves: A)assigning each prospect a rating B)using multiple factors to classify prospects C)determining where a prospect is in the sales process D)counting all prospects equally E)asking directed questions to prospects

The more complex the buying process,the more likely it is that the qualifying step: A)can be skipped without affecting the buying process or the close rate B)will be rolled into the customer service phase of the sales process C)can be combined with the need discovery step to save time D)needs to be moved to after the need discovery step to avoid repetition E)will be separate from the need discovery step of the process

The goal of prospecting is to build a prospect base made up of current and potential customers.

At-a-glance visualizations that define,monitor,and analyze the relationships existing in the pipeline or sales funnel are referred to as: A)sales forecasts B)pipeline analytics C)pipeline dashboards D)regression models E)commission reports

Marco, a salesperson, prospects for new customers almost constantly but still has problems meeting his sales goals. Marco has consulted with his sales manager, who notices that once Marco has a meeting with a decision maker, he typically closes the sale. -What could Marco most likely focus on to better meet his goals? A)more prospecting to make sure he has a steady supply of potential new customers to present the product to B)qualifying prospects to make sure that they have the desire and decision-making authority to make a purchase C)presenting to the prospect using a stronger emotional appeal and less logic D)presenting benefits to the prospect instead of features,and making sure the benefits are as specific as possible E)working with a more seasoned salesperson from his company to learn techniques for finding more prospects in less time

The process of identifying prospects that should be contacted is called ________.

Marco, a salesperson, prospects for new customers almost constantly but still has problems meeting his sales goals. Marco has consulted with his sales manager, who notices that once Marco has a meeting with a decision maker, he typically closes the sale. -Marco asks his manager to listen in for one day while he makes calls in order to help him figure out where he could improve. The manager concludes that Marco is doing an excellent job of building rapport but is not qualifying prospects as he talks to them. The manager suggests that Marco spend less time talking about the prospect's personal details and: A)more time talking about the features of the product B)focus on non-verbal ways to build rapport with the prospect,such as making active listening noises C)keep a list of qualifying questions in front of him so he makes sure to ask each one of them during the call D)practice his elevator presentation so he can help the prospect understand the product more quickly,since they do not have time on the phone to do a long pitch E)instead,talk about himself so the prospect will be able to trust him more easily

CRM software cannot be used to track the likelihood that a sale will close.

What is qualifying? What are the basic questions that a salesperson should ask in the qualifying process?

Experts recommend conducting business in the process of networking to ensure that solid prospects are developed quickly and efficiently.

Which term refers to a salesperson's brief,cold call opener that summarizes the salesperson's product and company? A)elevator presentation B)sales dashboard C)pipeline speech D)qualifying remarks E)sales blog

When you build value into your sales process,you increase the odds that the customer will give you a referral.

In most cases,technicians,receptionists,bank tellers,and other non-sales personnel can do little to help with prospecting.

Which of the following would most likely be used by a sales manager to estimate the sales potential of a prospect? A)telemarketing B)qualifying C)trade show D)SWOT analysis E)account analysis

To increase the odds that customers will give referrals,a salesperson should most likely: A)build value into the sales process B)offer free products or discounts for referrals C)motivate buyers through time pressure D)provide a rational buying motive E)ask sales managers for permission to cut prices