Exam 9: Developing and Qualifying Prospects and Accounts

A prospect list from a CRM database is likely to include which kinds of information? A)amount,date,and likelihood that a sale will close B)salesperson bonus information on closed sales C)dates of sales competitors have made to the prospect D)salesperson's conclusions on any calls made to the prospect E)which salespeople earned the highest commissions,in descending order

A balanced funnel involves: A)aggressively eliminating non-productive leads B)combining technical sales with product sales C)entering prospects from an even balance of industries D)entering the"Ferris wheel"simultaneously E)having prospects at different stages of the sales cycle

Qualifying is the first opportunity to consider what the needs of the buyer are.

Grackin Corporation is expanding into a new territory in which they are not as well-known as they are in their current territories. As part of this new push, the sales director decides to use a strategy that involves making aggressive cold-calls and hosting frequent educational seminars. -Because cold calling does not immediately result in a high level of closed sales,some companies feel that it is worthless. However,when done correctly-by researching the prospect and keeping the call bright and focused-it can be a: A)tool for making a quick transactional sale B)strategy for qualifying prospects with an elevator pitch C)way to introduce the prospect to the sales representative D)risk-free way to build rapport with a new prospect E)method of closing sales that have been pending

Which of the following is true regarding prospecting at trade shows?

Which of the following efforts is used by progressive marketers to improve the quality of the prospecting process? A)Shorten the sales cycle by quickly determining which new prospects are qualified. B)Reduce the number of prospects who board the"Ferris wheel." C)Avoid the temptation of developing quality standards,which disrupts the prospect flow. D)Increase the use of telemarketing efforts to identify likely prospects. E)Make more cold calls to increase the volume and quality of prospects in the pipeline.

The term social network most likely refers to a salesperson's: A)direct and indirect contacts B)co-workers and managers C)closest clients D)industry affiliation groups E)alumni organization

Grackin Corporation is expanding into a new territory in which they are not as well-known as they are in their current territories. As part of this new push, the sales director decides to use a strategy that involves making aggressive cold-calls and hosting frequent educational seminars. -How does Grackin most likely benefit from hosting educational seminars? A)engaging in socially responsible activities in the community B)helping sales representatives with their presentation skills C)providing shareholders with many educational benefits D)highlighting product benefits to potential prospects E)generating extra revenue from attendees

The use of friends and acquaintances is not an acceptable way to build a prospect base.

It would be inappropriate to ask for the names of potential buyers immediately after closing a sale.

Grackin Corporation is expanding into a new territory in which they are not as well-known as they are in their current territories. As part of this new push, the sales director decides to use a strategy that involves making aggressive cold-calls and hosting frequent educational seminars. -After an educational seminar,Grackin sales representatives are excited because they experience a major increase in the number of potential prospects. However,Anita,the Grackin sales manager,makes the following statement to the sales team:"The sheer number of prospects a sales representative cultivates does not necessarily indicate the quality of the sales representative's pipeline."What does Anita most likely mean? A)A sales representative's pipeline is considered high quality when it contains prospects in multiple industries. B)Prospects are only valuable if they are qualified,so a few qualified prospects are better than many unqualified ones. C)Of all the prospects in a sales representative's pipeline,the only ones of value are the ones that make referrals to other buyers. D)Prospects are more valuable at different points in the pipeline,so it is impossible to determine the value of a sales representative's pipeline. E)A sales representative who works harder to convince prospects to buy will have a more valuable pipeline than one who simply tries to fill prospects' needs.

Many banks,accounting firms,and consulting companies use seminars to generate new prospects.

A major barrier to prospecting is time. Therefore,salespeople should: A)try to avoid spending time available for actual selling on prospecting B)try to spend at least 50 percent of every week on prospecting C)get involved in prospecting only after completing all regular selling activities D)assign prospecting tasks to lower-level employees E)integrate prospecting activities with regular selling duties

Describe the major benefits of using a computerized database as a source of prospects.

Andrew McIlhern, a software sales representative, is not happy about giving up two days of making sales calls to work his company's booth in the exhibit hall of a major regional trade show. When Andrew consults with his company's exhibit manager, however, she urges him to use the time to prospect wisely. -How can Andrew use those two days in the exhibit hall to increase his pipeline? A)spend time studying product literature to increase his product knowledge B)present to unqualified visitors to the booth to improve his elevator pitch C)make calls to current customers during breaks to provide after-sale service D)ask co-workers to call some of his prospects to obtain potential referrals E)qualify prospects with a few questions when they first enter the booth