Question 1

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

Accepted Answer

A) True 
 B)False

Question 2

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

Accepted Answer

A) True 
 B)False

Question 3

Charles Lin has just been hired by Frederick Company to replace a sales representative who is retiring after 40 years with the company.The older representative is training Charles on procedures and customers in his territory for three weeks before he retires,and Charles knows this is a huge opportunity to learn about the prospect base.When Charles asks which CRM system the company uses,the older representative says,"Everyone else here uses some computer program called Salesforce,but I won't touch it.I know my customers like the back of my hand! Never needed to write anything down."
Charles is concerned.He used Salesforce in college and knows how vital it is to have customer information,sales records,preferences,and conversations recorded.He talks to the sales manager,who tells him the representative's sales were decent,and all his invoices came in,so they left him alone and never forced him to use the CRM system.
-What should Charles do?

Accepted Answer

A) He should quit the job because there is no way he can succeed in a territory that is disorganized and about which he has little information. 
B) He should ask the manager for a list of the representative's customers and their contact information. 
C) He should start fresh by developing his own prospect base and forget about the retiring representative's customers. 
D) He should start piecing together his prospect base by asking the retiring representative for information and matching that information up with invoices and receipts he gets from the billing and accounts receivable departments. 
E) He should ask the other sales representatives in the department to each give him three or four of their prospects so that he can start to put together a prospect base. 
A) He should quit the job because there is no way he can succeed in a territory that is disorganized and about which he has little information. 
B) He should ask the manager for a list of the representative's customers and their contact information. 
C) He should start fresh by developing his own prospect base and forget about the retiring representative's customers. 
D) He should start piecing together his prospect base by asking the retiring representative for information and matching that information up with invoices and receipts he gets from the billing and accounts receivable departments. 
E) He should ask the other sales representatives in the department to each give him three or four of their prospects so that he can start to put together a prospect base.

Question 4

A key concept in networking is to:

Accepted Answer

A) follow up with every person you make contact with 
B) select who you will follow up with based on their usefulness 
C) send an email to every contact 
D) follow up on all emails with a phone call three days later 
E) keep track of your contacts in CRM software 
A) follow up with every person you make contact with 
B) select who you will follow up with based on their usefulness 
C) send an email to every contact 
D) follow up on all emails with a phone call three days later 
E) keep track of your contacts in CRM software

Question 5

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

Accepted Answer

A) True 
 B)False

Question 6

When a salesperson asks a customer to prepare a note or letter of introduction that can be delivered to the potential customer,this person is using which prospecting method?

Accepted Answer

A) networking 
B) mail inquiry 
C) cold canvass 
D) referral 
E) trade show 
A) networking 
B) mail inquiry 
C) cold canvass 
D) referral 
E) trade show

Question 7

Charles Lin has just been hired by Frederick Company to replace a sales representative who is retiring after 40 years with the company.The older representative is training Charles on procedures and customers in his territory for three weeks before he retires,and Charles knows this is a huge opportunity to learn about the prospect base.When Charles asks which CRM system the company uses,the older representative says,"Everyone else here uses some computer program called Salesforce,but I won't touch it.I know my customers like the back of my hand! Never needed to write anything down."
Charles is concerned.He used Salesforce in college and knows how vital it is to have customer information,sales records,preferences,and conversations recorded.He talks to the sales manager,who tells him the representative's sales were decent,and all his invoices came in,so they left him alone and never forced him to use the CRM system.
-What are the real-life repercussions of the representative's lack of record-keeping for Charles as he begins his new job?

Accepted Answer

A) Charles' sales will track way behind those of the retiring representative and he will be docked pay and denied promotion because of this. 
B) Charles is starting from almost scratch developing a prospect and customer base and may lose some current customers because he does not know about them. 
C) Charles cannot succeed in this new job without customer information and will end up frustrated and doubting his skills. 
D) Charles does not need any information from the retiring representative anyway as he is supposed to be developing his own prospects and not renewing business with the old representatives' customers anyway. 
E) Charles was hired deliberately by management because he is young and his career won't be affected by this setback,so they will not give him the support he needs. 
A) Charles' sales will track way behind those of the retiring representative and he will be docked pay and denied promotion because of this. 
B) Charles is starting from almost scratch developing a prospect and customer base and may lose some current customers because he does not know about them. 
C) Charles cannot succeed in this new job without customer information and will end up frustrated and doubting his skills. 
D) Charles does not need any information from the retiring representative anyway as he is supposed to be developing his own prospects and not renewing business with the old representatives' customers anyway. 
E) Charles was hired deliberately by management because he is young and his career won't be affected by this setback,so they will not give him the support he needs.

Question 8

Educational seminars can be a good source of prospects because:

Accepted Answer

A) people who pay for a seminar will buy product 
B) salespeople need help doing demonstrations 
C) more than half of the people who attend seminars will become customers 
D) they allow you to educate prospects about your product 
E) you can build a close into the keynote speech 
A) people who pay for a seminar will buy product 
B) salespeople need help doing demonstrations 
C) more than half of the people who attend seminars will become customers 
D) they allow you to educate prospects about your product 
E) you can build a close into the keynote speech

Question 9

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. 
D) Don't hesitate to do 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. 
D) Don't hesitate to do business while networking. 
E) Only offer a business card if the other person asks for it.

Question 10

A salesperson is prospecting for new customers almost constantly,but is having problems meeting his sales goals.He has consulted with his sales manager,who concludes that once the salesperson has a meeting with a decisionmaker he does quite well and often closes the sale.
-The salesperson 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 the salesperson is doing an excellent job of building rapport,but is not qualifying prospects as he talks to them.The manager suggests to the salesperson that he 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 11

Which one of the following publications would be a good source of information on prospects if you were involved in the sale of products in the international market?

Accepted Answer

A) Middle Market Directory from Dun and Bradstreet 
B) Directory of Corporate Affiliations from Macmillan 
C) Data reports published by U.S.and Foreign Commercial Service 
D) Standard and Poor's Corporation Records Service 
E) your local Chamber of Commerce directory 
A) Middle Market Directory from Dun and Bradstreet 
B) Directory of Corporate Affiliations from Macmillan 
C) Data reports published by U.S.and Foreign Commercial Service 
D) Standard and Poor's Corporation Records Service 
E) your local Chamber of Commerce directory

Question 12

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

Question 13

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

Accepted Answer

A) True 
 B)False

Question 14

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

Accepted Answer

1.Can match product features with the ne

Question 15

Grackin Corporation is pushing into a new county in which they are not well-known already,as they are in their current territories.As part of this new push,the sales director decides to use a strategy of aggressive cold-calling by the salespeople.
-How will the sales cycle in this new territory compare in length to the cycle in the established territories in which Grackin Corporation is already known in the industry?

Accepted Answer

A) It will be shorter,because the salespeople will be calling prospects to introduce the company. 
B) It will be shorter,because they will not have to overcome false impressions. 
C) It will be longer,because the salespeople will have to introduce the company from scratch in cold calls instead of getting name recognition from prospects. 
D) It will be longer,because the county has not had a need for Grackin Corporation's products before. 
E) It will be the same,because sales presentations are sales presentations. 
A) It will be shorter,because the salespeople will be calling prospects to introduce the company. 
B) It will be shorter,because they will not have to overcome false impressions. 
C) It will be longer,because the salespeople will have to introduce the company from scratch in cold calls instead of getting name recognition from prospects. 
D) It will be longer,because the county has not had a need for Grackin Corporation's products before. 
E) It will be the same,because sales presentations are sales presentations.

Question 16

CRM software is useful because:

Accepted Answer

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

Question 17

Networking,as it applies to the field of selling,is a method of prospecting:

Accepted Answer

A) with the telephone 
B) popular only in the telecommunications field 
C) which is seldom used today 
D) that is of dubious ethics 
E) that relies on making contacts with people and profiting from the connection 
A) with the telephone 
B) popular only in the telecommunications field 
C) which is seldom used today 
D) that is of dubious ethics 
E) that relies on making contacts with people and profiting from the connection

Question 18

Which one 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 of the new prospects are qualified prospects. 
B) Reduce the number of prospects who board the "Ferris wheel." 
C) Avoid the temptation to develop quality standards that might interrupt the steady supply of prospects. 
D) Increase the use of telemarketing to identify prospects. 
E) Make more cold calls to increase the volume of the pipeline. 
A) Shorten the sales cycle by quickly determining which of the new prospects are qualified prospects. 
B) Reduce the number of prospects who board the "Ferris wheel." 
C) Avoid the temptation to develop quality standards that might interrupt the steady supply of prospects. 
D) Increase the use of telemarketing to identify prospects. 
E) Make more cold calls to increase the volume of the pipeline.

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 
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

Question 20

A prospect list from a CRM database is likely to include which kinds of information?

Accepted Answer

A) amount,date,and likelihood that a sale will close 
B) saleperson bonus information on closed sales 
C) amount and 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) amount,date,and likelihood that a sale will close 
B) saleperson bonus information on closed sales 
C) amount and 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

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

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

A key concept in networking is to:

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

When a salesperson asks a customer to prepare a note or letter of introduction that can be delivered to the potential customer,this person is using which prospecting method?

Educational seminars can be a good source of prospects because:

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

Which one of the following publications would be a good source of information on prospects if you were involved in the sale of products in the international market?

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

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

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

CRM software is useful because:

Networking,as it applies to the field of selling,is a method of prospecting:

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

The portfolio model of classifying prospects involves:

A prospect list from a CRM database is likely to include which kinds of information?

Relationship Selling Opportunities in the Information Economy

Evolution of Selling Models That Compliment the Marketing Concept

Creating Value With a Relationship Strategy

Communication Styles: a Key to Adaptive Selling Today

Ethics: the Foundation for Relationships in Selling

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 Demonstration

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 a Prospect Base

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

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

A key concept in networking is to:

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

When a salesperson asks a customer to prepare a note or letter of introduction that can be delivered to the potential customer,this person is using which prospecting method?

Educational seminars can be a good source of prospects because:

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

Which one of the following publications would be a good source of information on prospects if you were involved in the sale of products in the international market?

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

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

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

CRM software is useful because:

Networking,as it applies to the field of selling,is a method of prospecting:

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

The portfolio model of classifying prospects involves:

A prospect list from a CRM database is likely to include which kinds of information?

Relationship Selling Opportunities in the Information Economy

Evolution of Selling Models That Compliment the Marketing Concept

Creating Value With a Relationship Strategy

Communication Styles: a Key to Adaptive Selling Today

Ethics: the Foundation for Relationships in Selling

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 Demonstration

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