Question 1

A typical company will lose approximately what percent of its customers every year?

Accepted Answer

A)  5 to 10 
B)  15 to 20 
C)  25 to 30 
D)  35 to 40 
E)  45 to 50 
A)  5 to 10 
B)  15 to 20 
C)  25 to 30 
D)  35 to 40 
E)  45 to 50 B

Question 2

A sales representative has contacted all companies in his territory in the target industry and is concerned that the territory may be saturated.
-What should the salesperson most likely do to identify new prospects in the same territory and industry?

Accepted Answer

A)  Contact people in different departments of current client companies. 
B)  Use the firm's Website to develop a global contact network. 
C)  Develop an elevator pitch for an educational seminar. 
D)  Write an article for a national trade publication. 
E)  Network with support staff at a competing firm. 
A)  Contact people in different departments of current client companies. 
B)  Use the firm's Website to develop a global contact network. 
C)  Develop an elevator pitch for an educational seminar. 
D)  Write an article for a national trade publication. 
E)  Network with support staff at a competing firm. A

Question 3

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

Accepted Answer

A) True 
 B)False  False

Question 4

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, Marco typically closes the sale.
-What could Marco most likely focus on to better meet his goals?

Accepted Answer

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 
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

Question 5

Joe Girard's "Ferris Wheel" concept assumes which of the following?

Accepted Answer

A)  The optimal ratio of customers to prospects is 66 percent. 
B)  If the customers are sold the correct product and given good service, a company will not lose customers. 
C)  A certain number of customers will be lost every year by most companies. 
D)  Departing customers must be replaced by new customers at an equal rate. 
E)  Salespeople will do better prospecting when they think of the process as a roller coaster. 
A)  The optimal ratio of customers to prospects is 66 percent. 
B)  If the customers are sold the correct product and given good service, a company will not lose customers. 
C)  A certain number of customers will be lost every year by most companies. 
D)  Departing customers must be replaced by new customers at an equal rate. 
E)  Salespeople will do better prospecting when they think of the process as a roller coaster.

Question 6

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

Accepted Answer

A) True 
 B)False

Question 7

Which of the following questions is most relevant to qualifying a prospect?

Accepted Answer

A)  How long has the prospect been interested in the product? 
B)  Does the prospect know the firm's decision maker? 
C)  Can the prospect make the buying decision? 
D)  Can the prospect pay in cash for the purchase? 
E)  Has the prospect purchased anything similar before? 
A)  How long has the prospect been interested in the product? 
B)  Does the prospect know the firm's decision maker? 
C)  Can the prospect make the buying decision? 
D)  Can the prospect pay in cash for the purchase? 
E)  Has the prospect purchased anything similar before?

Question 8

The term social network most likely refers to a salesperson's:

Accepted Answer

A)  direct and indirect contacts 
B)  co-workers and managers 
C)  closest clients 
D)  industry affiliation groups 
E)  alumni organization 
A)  direct and indirect contacts 
B)  co-workers and managers 
C)  closest clients 
D)  industry affiliation groups 
E)  alumni organization

Question 9

Which of the following would most likely be used by a sales manager to estimate the sales potential of a prospect?

Accepted Answer

A)  telemarketing 
B)  qualifying 
C)  trade show 
D)  SWOT analysis 
E)  account analysis 
A)  telemarketing 
B)  qualifying 
C)  trade show 
D)  SWOT analysis 
E)  account analysis

Question 10

Which one of the following is a guideline for effective networking?

Accepted Answer

A)  Limit the number of people you meet in a given setting. 
B)  When you meet someone, tell the person what you do. 
C)  Follow up on every contact you meet. 
D)  Always conduct business while networking. 
E)  Only offer a business card if the other person asks for it. 
A)  Limit the number of people you meet in a given setting. 
B)  When you meet someone, tell the person what you do. 
C)  Follow up on every contact you meet. 
D)  Always conduct business while networking. 
E)  Only offer a business card if the other person asks for it.

Question 11

The responsibility for entering customer information and contact records into the CRM database usually belongs to the:

Accepted Answer

A)  customer 
B)  office manager 
C)  data entry clerk 
D)  sales manager 
E)  salesperson 
A)  customer 
B)  office manager 
C)  data entry clerk 
D)  sales manager 
E)  salesperson

Question 12

An ________ outlines expected sales for a product or service to a specific target group over a specific period of time.

Accepted Answer

The answer of An ________ outlines expected sales for a...

Question 13

Which of the following efforts is used by progressive marketers to improve the quality of the prospecting process?

Accepted Answer

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. 
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.

Question 14

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, Marco typically closes the sale.
-Marco asks his manager to listen in while he makes calls one day to help him figure out what he could be doing better.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:

Accepted Answer

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 pitch 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 
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 pitch 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

Question 15

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

Accepted Answer

A) True 
 B)False

Question 16

CRM software is useful because customer information is most likely:

Accepted Answer

A)  shared with competitors 
B)  available to many people in the company 
C)  stored locally on the salesperson's computer 
D)  updated automatically by the CRM provider 
E)  changed only with the approval of a supervisor 
A)  shared with competitors 
B)  available to many people in the company 
C)  stored locally on the salesperson's computer 
D)  updated automatically by the CRM provider 
E)  changed only with the approval of a supervisor

Question 17

Which of the following is most likely a true statement regarding prospecting?

Accepted Answer

A)  Personal observation is an unlikely prospecting technique. 
B)  Cold call prospecting is a systematic approach to identifying prospects. 
C)  The response rate for e-mails is high, so they are a valid source of prospects. 
D)  A salesperson cannot afford to spend time calling on persons who are not legitimate prospects. 
E)  Networking should be avoided as a source of prospects because it is unprofessional to mix business and friendship. 
A)  Personal observation is an unlikely prospecting technique. 
B)  Cold call prospecting is a systematic approach to identifying prospects. 
C)  The response rate for e-mails is high, so they are a valid source of prospects. 
D)  A salesperson cannot afford to spend time calling on persons who are not legitimate prospects. 
E)  Networking should be avoided as a source of prospects because it is unprofessional to mix business and friendship.

Question 18

Joe Girard's "Ferris Wheel" concept illustrates how many calls it takes to close a sale.

Accepted Answer

A) True 
 B)False

Question 19

The portfolio model of classifying prospects involves:

Accepted Answer

A)  assigning each prospect a rating 
B)  using multiple factors to classify prospects 
C)  determining where a prospect is in the sales process 
D)  using a sales forecast to predict which prospects will buy 
E)  using external industry research to identify and qualify prospects 
A)  assigning each prospect a rating 
B)  using multiple factors to classify prospects 
C)  determining where a prospect is in the sales process 
D)  using a sales forecast to predict which prospects will buy 
E)  using external industry research to identify and qualify prospects

Question 20

A sales manager runs what she calls "an all-out blitz" with her department to focus on closing sales in the last month of the third quarter. Her department exceeded its quota by 20%. The strategy involved a focus on closing as many pending sales as possible and moving customers in the evaluation stage to the buying stage.
During the fourth quarter, the team closed fewer sales than in the third quarter and only generated 50% of the amount that was made in the third quarter.
-What is the most likely explanation for this difference?

Accepted Answer

A)  The prospects the team worked with in the fourth quarter had maximized their budgets. 
B)  The manager didn't adequately train the team in how to conduct fourth-quarter sales. 
C)  Pending sales are the only sales that were tallied in the final figures for each quarter. 
D)  The team neglected the pipeline and prospect development. 
E)  The team failed to align the selling and buying process. 
A)  The prospects the team worked with in the fourth quarter had maximized their budgets. 
B)  The manager didn't adequately train the team in how to conduct fourth-quarter sales. 
C)  Pending sales are the only sales that were tallied in the final figures for each quarter. 
D)  The team neglected the pipeline and prospect development. 
E)  The team failed to align the selling and buying process.

A typical company will lose approximately what percent of its customers every year?

A sales representative has contacted all companies in his territory in the target industry and is concerned that the territory may be saturated. -What should the salesperson most likely do to identify new prospects in the same territory and industry?

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

Joe Girard's "Ferris Wheel" concept assumes which of the following?

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

Which of the following questions is most relevant to qualifying a prospect?

The term social network most likely refers to a salesperson's:

Which of the following would most likely be used by a sales manager to estimate the sales potential of a prospect?

Which one of the following is a guideline for effective networking?

The responsibility for entering customer information and contact records into the CRM database usually belongs to the:

An ________ outlines expected sales for a product or service to a specific target group over a specific period of time.

Which of the following efforts is used by progressive marketers to improve the quality of the prospecting process?

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

CRM software is useful because customer information is most likely:

Which of the following is most likely a true statement regarding prospecting?

Joe Girard's "Ferris Wheel" concept illustrates how many calls it takes to close a sale.

The portfolio model of classifying prospects involves:

Relationship Selling Opportunities in the Information Economy

Evolution of Selling Models That Compliment the Marketing Concept

Ethics: the Foundation for Partnering Relationships That Create Value

Creating Value With a Relationship Strategy

Communication Styles: a Key to Adaptive Selling Today

Creating Product Solutions

Product-Selling Strategies That Add Value

The Buying Process and Buyer Behavior

Approaching the Customer With Adaptive Selling

Determining Customer Needs With a Consultative Questioning Strategy

Creating Value With the Consultative Presentation

Negotiating Buyer Concerns

Adapting the Close and Confirming the Partnership

Servicing the Sale and Building the Partnership

Opportunity Management: the Key to Greater Sales Productivity

Management of the Sales Force

Filters

Exam 9: Developing and Qualifying Prospects and Accounts

A typical company will lose approximately what percent of its customers every year?

A sales representative has contacted all companies in his territory in the target industry and is concerned that the territory may be saturated. -What should the salesperson most likely do to identify new prospects in the same territory and industry?

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

Joe Girard's "Ferris Wheel" concept assumes which of the following?

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

Which of the following questions is most relevant to qualifying a prospect?

The term social network most likely refers to a salesperson's:

Which of the following would most likely be used by a sales manager to estimate the sales potential of a prospect?

Which one of the following is a guideline for effective networking?

The responsibility for entering customer information and contact records into the CRM database usually belongs to the:

An ________ outlines expected sales for a product or service to a specific target group over a specific period of time.

Which of the following efforts is used by progressive marketers to improve the quality of the prospecting process?

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

CRM software is useful because customer information is most likely:

Which of the following is most likely a true statement regarding prospecting?

Joe Girard's "Ferris Wheel" concept illustrates how many calls it takes to close a sale.

The portfolio model of classifying prospects involves:

Relationship Selling Opportunities in the Information Economy

Evolution of Selling Models That Compliment the Marketing Concept

Ethics: the Foundation for Partnering Relationships That Create Value

Creating Value With a Relationship Strategy

Communication Styles: a Key to Adaptive Selling Today

Creating Product Solutions

Product-Selling Strategies That Add Value

The Buying Process and Buyer Behavior

Approaching the Customer With Adaptive Selling

Determining Customer Needs With a Consultative Questioning Strategy

Creating Value With the Consultative Presentation

Negotiating Buyer Concerns

Adapting the Close and Confirming the Partnership

Servicing the Sale and Building the Partnership

Opportunity Management: the Key to Greater Sales Productivity

Management of the Sales Force

Filters