Deck 5: Strategic Prospecting and Preparing for Sales Dialogue

Question 1

With respect to prospecting, which of the following statements is untrue?

A) Most salespeople need to engage in some activity designed to cultivate future business
B) Salespeople often indicate they do not have enough time to prospect.
C) Typically, salespeople enjoy prospecting because they like the positive feedback.
D) Many of today's buyers are busy and reluctant to see salespeople.
E) All of the above are true.

Answer 1

C

Question 2

What is the goal of strategic prospecting?

A) To generate the largest number of leads.
B) To help salespeople identify the best sales opportunities in the most efficient way.
C) To get past the gatekeeper.
D) The haphazard screening-out of undesirable sales leads.
E) To help salespeople identify the decision maker.

Answer 2

B

Question 3

Leads that meet or exceed screening criteria established by the salesperson or the sales organization are called what?

A) Sales leads
B) Qualified prospects or sales prospects
C) Decision makers
D) Hot prospects
E) Certified Sales Leads (CSL)

Answer 3

B

Question 4

Sales leads are also known as _______________

A) Qualified prospects
B) Prospects
C) Buyers
D) Suspects
E) Customers

Question 5

Megan is a salesperson for an industrial chemical manufacturer. While reviewing her new leads, Megan learned that two of the leads just signed contracts with one of her major competitors. Which of the following best describes why Megan will not consider these two leads qualified prospects?

A) They don't have the financial wherewithal to make a purchase
B) They don't have a need
C) They aren't the decision makers
D) They don't have the authority to make a purchase decision
E) They aren't in her company's target market

Question 6

Which of the following statements about strategic prospecting is untrue?

A) An objective of strategic prospecting is to improve the salesperson's efficiency.
B) Prospecting can be very discouraging.
C) With respect to business-to-business selling, most salespeople will never have to prospect.
D) Prospecting involves generating and qualifying leads.
E) All of the above statements are accurate.

Question 7

Which of the following statements about strategic prospecting is untrue?

A) An objective of strategic prospecting is to improve the salesperson's efficiency.
B) Prospecting can be very discouraging.
C) Most salespeople will have to do at least some prospecting.
D) Prospecting involves generating and qualifying leads.
E) All of the above statements are accurate.

Question 8

Susan is a salesperson for ABC company and has trouble prospecting effectively. Approximately 70% of the leads she contacts don't have any influence in the purchase decision process. Sandy is most likely having trouble

A) Communicating with her leads.
B) Selling her product to her leads.
C) Qualifying her leads.
D) Responding to her leads.
E) With her boss.

Question 9

The prospecting method in which salespeople's customers or prospects give them leads is called what?

A) Introduction method
B) Cold canvassing method
C) Bird dog method
D) Referral method
E) None of the above

Question 10

The strategic prospecting process is often viewed as a:

A) Sales funnel
B) Easiest part of the selling process
C) Most difficult part of the selling process
D) Sales pipeline
E) Both a and d are correct.

Question 11

Which of the following sequences related to prospecting is accurate?

A) Generate leads, determine sales prospects, prioritize prospects, prepare for sales dialogue
B) Generate leads, prioritize leads, determine qualified prospects, prepare for sales dialogue
C) Identify leads, call on leads, qualify leads
D) Identify leads, call on leads, qualify leads, prioritize leads based on info gathered from sales call
E) None of the above is accurate.

Question 12

Which the following best describes the process of strategic prospecting?

A) The process of locating new customers
B) The process of generating leads
C) The process of identifying, qualifying, and prioritizing sales opportunities
D) The process of turning prospects into customers
E) None of the above described prospecting

Question 13

Prospects that meet or exceed screening criteria established by the salesperson or the sales organization are called what?

A) Sales leads
B) Certified Sales Leads (CSL)
C) Customers
D) Hot prospects
E) None of the above.

Question 14

Which of the following reflects why it is important for salespeople to qualify prospects prior to making the initial sales call?

A) Qualifying helps to reduce the amount of time salespeople spend calling on prospects who could never become customers.
B) Qualifying prospects increases the probability that the sales prospect will become a customer.
C) Qualifying prospects helps the salesperson separate those prospects who are more likely to buy from those who are less likely to buy.
D) Qualifying prospects provides salespeople with feedback regarding the effectiveness of their prospecting methods.
E) All of the above reflect why prospecting is important.

Question 15

The prospecting method in which salespeople's customers or prospects give them leads and provides a letter of introduction is called what?

A) Introduction method
B) Cold canvassing method
C) Bird dog method
D) Referral method
E) None of the above

Question 16

Which of the following describes a common reason why salespeople dislike prospecting?

A) They have a fear of rejection.
B) They dislike dealing with people.
C) Actually, most salespeople like prospecting.
D) All of the above are correct.
E) None of the above is correct.

Question 17

Which of the following is not one of the primary criteria for qualified prospects?

A) A need for the product or service (sales offering)
B) Financial wherewithal to make a purchase
C) An important role in the purchase decision process
D) Has the prospect been a customer before
E) All of the above are primary criteria

Question 18

Steve is a salesperson for XYZ Corporation. His territory includes 50 established accounts which he calls on regularly. Although Steve is supposed to allocate some time to prospecting, he'd rather call on his existing accounts. Like many salespeople in his position, Steve resists prospecting because:

A) He is afraid of rejection.
B) He doesn't believe it's necessary.
C) He'd rather use his spare time for paperwork.
D) His established accounts are too important.
E) He doesn't need any new accounts.

Question 19

Which of the following is not one of the reasons buyers may not want to see salespeople?

A) They may have never heard of the salesperson's firm.
B) Buyers may have their own deadlines with other issues . . . and are not receptive.
C) Buyers are looking for ways to solve problems, and salespeople add to the problems.
D) Buyers are constantly getting calls from salespeople and do not have time to see them all.
E) They may have just bought the salesperson's product category, and there is presently no need.

Question 20

Why is it important for most salespeople to spend at least some time prospecting?

A) Because finding new customers is easier than keeping existing customers.
B) Because it is likely that they will lose some of their existing customers over time.
C) Because the existing customer base may not be sufficient to generate desired future revenues.
D) All the above are correct.
E) Both b and c are correct.

Question 21

A strategic prospecting plan should include all of the following except?

A) Proper time allocation
B) Precall information system
C) Evaluation method
D) Tracking system
E) Goals

Question 22

Which of the following is not one of the common secondary lead sources?

A) Harris Directory
B) Moody's Industrial Directory
C) Thomas Register of American Manufacturers
D) Standard & Poor's Register of Corporations, Directors, and Executives
E) All of the above are common secondary lead sources

Question 23

Drew is a salesperson for a company that manufactures bed-liners for pick-up trucks. Drew relies on his friend Susan, a salesperson for a local truck dealership, for leads. Susan calls Drew and lets him know when someone has purchased a new pick-up truck. Drew's source of leads is called:

A) Company records.
B) A sales seminar.
C) Noncompeting salesperson.
D) Tradeshow
E) Center of influence

Question 24

Karen is a salesperson for a large industrial equipment company. Most of her existing and potential customers are geographically dispersed across North America. Which of the following would probably be her best method of prospecting?

A) Cold Canvassing
B) Trade Shows
C) Observation
D) Centers of influence
E) Industrial Customer Ranking Protocol

Question 25

A strategic prospecting plan should include all of the following except?

A) Proper time allocation
B) Goals
C) Evaluation method
D) Tracking system
E) All of the above are correct

Question 26

Steve is a salesperson for a large consumer products manufacturer. Steve has just taken over at new territory and is looking to begin the prospecting process. The first thing Steve should do is develop a:

A) A list of leads
B) A list of qualified prospects
C) A strategic prospecting plan
D) A strategic business plan
E) A territory plan

Question 27

Suppose a salesperson asks you why a tracking system is important to prospecting, which of the following is probably the best answer?

A) The tracking system will allow you to track the progress of your customers.
B) The tracking system will allow you to limit the time you spend prospecting.
C) The tracking system will improve your image with management.
D) The tracking system will allow you to monitor the effectiveness of your various prospecting methods so that you can make adjustments accordingly.
E) Both b and c are correct.

Question 28

Suppose you are a salesperson and are about to begin prospecting. Which of the following things should you keep in mind?

A) Experiment with different prospecting methods
B) Develop a tracking system
C) Set specific objectives for numbers of new prospects in a specified time
D) Limit the amount of time you spend prospecting
E) All of the above

Question 29

Which of the following is not one of the common secondary lead sources?

A) Harris Directory
B) Moody's Industrial Directory
C) Thomas Register of American Manufacturers
D) Standard & Poor's Register of Corporations, Directors, and Executives
E) Company records

Question 30

The prospecting method in which salespeople seek to obtain leads from influential people is called what?

A) Introductions method
B) Known entity method
C) Centers of influence (networking method)
D) Referrals method
E) None of the above

Question 31

Which of the following forms of locating prospects brings the prospect to the salesperson?

A) Centers of influence
B) Outbound telemarketing
C) Tradeshows
D) Noncompeting salespeople
E) Cold canvassing

Question 32

_____________ refers to sales leads generated from company advertising efforts.

A) Company records.
B) Advertising inquiries
C) Advertising Prospects
D) Corporate Advertising Prospects (CAPs)
E) Company Advertising Prospects (CAPs)

Question 33

Bill is a salesperson who relies on his current customers to help him identify potential new customers. Bill relies on the __________ method for lead generation.

A) Comprehensive
B) Referral
C) Company source
D) Customer Source Initiative (CSI)
E) Cold calling

Question 34

Which of the following forms/sources of prospecting is probably least productive?

A) Observation
B) Organizations (e.g., Chamber of Commerce)
C) Cold canvassing
D) Company records
E) Community contacts

Question 35

Which of the following social networking tools may be used by salespeople to generate leads?

A) LinkedIn
B) Plaxo
C) Outlook
D) Salesforce.com
E) A and B are social networking tools routinely used by salespeople

Question 36

Which of the following statements is untrue regarding cold canvassing?

A) Calls on prospects are unannounced
B) It is a relatively efficient form prospecting
C) Buyers may not be available
D) Buyers may not have the time to talk to the salesperson
E) It is probably the least successful form of prospecting

Question 37

Which of the following is not typically a source of sales leads?

A) Referrals
B) Non-competing salespeople
C) Telephone inquiries
D) Competitor's salespeople
E) Professional organizations

Question 38

Which of the following prospecting methods is characterized by having MANY potential prospects brought together under one roof?

A) Sales seminars
B) Trade shows
C) Referrals
D) Company records
E) Both a and b are correct

Question 39

Which of the following is a major advantage that the advertising inquiry method of obtaining leads has over outbound telephone inquiries?

A) It's less expensive
B) The advertising method helps qualify the lead for the salesperson
C) It's easy to target specific organizations
D) All of the above are advantages
E) None of the above are advantages

Question 40

Which of the following is not a potential source of sales leads?

A) Cold calling
B) Non-competing salespeople
C) Centers of Influence
D) Referrals
E) All of the above are potential sources of sales leads.

Question 41

The primary objective of strategic prospecting is to identify qualified prospects.

Question 42

Natalie has been a salesperson for the past two years. A big part of her job is prospecting, yet she doesn't seem to have a good idea of how her prospecting methods are working. Natalie should develop a:

A) Referral list
B) Tracking system
C) List of lead generation methods
D) List of prospecting methods
E) A list of customers who provide her referrals

Question 43

In general, most prospects are eager to meet with salespeople.

Question 44

The more a salesperson knows about a prospect, the better chance a salesperson has to __________.

A) Meet the prospect
B) Make a sale
C) Qualify the prospect as a suspect
D) "Friend" the prospect
E) Generate referrals from the prospect

Question 45

Which of the following represents precall information about the prospective buyer that the salesperson may wish to obtain?

A) Information about the prospect
B) Information about the prospect's organization
C) Information about the prospect's target markets
D) All of the above
E) Only a and b are correct

Question 46

The primary objective of strategic prospecting is to identify leads.

Question 47

Craig is a salesperson for an industrial equipment company. Craig calls on factories and spends most of his time talking with equipment operators who work on the factory floor. While Craig is able to get the equipment operators interested in his products, he is often unable to make a sale. Craig needs to work on:

A) Determining other purchase decision influencers.
B) Improving his products.
C) Improving his attitude.
D) His cold canvassing ability.
E) His record keeping.

Question 48

Prospects may be reluctant to see a salesperson if they've never heard of the salesperson's firm.

Question 49

Before sending out resumes or attending job interviews, what sort of precall information should you obtain?

A) Name of the contact
B) Title of the contact
C) The contact's address
D) The name of the contact's company
E) You should obtain all of the above

Question 50

Salespeople need to spend some time prospecting on a regular basis because there's typically a considerable time lag between the commencement of prospecting and the conversion of prospects to customer status.

Question 51

After determining a list of sales prospects, a salesperson should prioritize those prospects.

Question 52

Good salespeople don't need to prospect.

Question 53

Bill is a salesperson who spends about half of his time prospecting. Bill is successful at prospecting because he is able to readily identify which prospecting activities are successful and which aren't. Bill's success at prospecting is based on his ability to:

A) Stay positive.
B) Keep good records.
C) Evaluate results.
D) Meet people.
E) Do both b and c.

Question 54

One of the reasons salespeople dislike prospecting is fear of rejection.

Question 55

Gatekeepers in any organizations screen their bosses' calls and are sometime curt and even rude.

Question 56

Once salespeople have qualified their prospects, they should:

A) Develop a prospecting strategy
B) Call on the qualified prospect
C) Send the qualified prospect a sales letter
D) Begin gathering precall information
E) Ask the qualified prospect for referrals

Question 57

Suppose you are a salesperson working for a manufacturer of business machinery. While gathering precall information you learn that a prospect you're preparing to call on is actually a member of a buying team. Which of the following best represents what you should do next?

A) Identify the decision maker and focus your selling efforts on that individual.
B) Identify the purchasing agent and focus your selling efforts on that individual.
C) Identify the role of each member of the buying team and the amount of influence each exerts.
D) Create a written sales proposal and give them to your contact so that he/she can pass them out to the other buying team members.
E) Both a and b are correct because the decision maker is usually the purchasing agent.

Question 58

Which of the following statements about evaluating prospecting activities is most accurate?

A) Salespeople should evaluate their prospecting activities once a year.
B) Salespeople should evaluate their prospecting activities twice a year.
C) Salespeople should have their sales managers evaluate their prospecting activities twice a year.
D) Salespeople should evaluate their prospecting activities continuously.
E) None of the above are accurate.

Question 59

Gina, a salesperson for ABC Corp., spends a lot of time "interviewing" her prospects so she can learn their names, interests, and job responsibilities. Gina should probably spend more time:

A) Talking about her product.
B) Talking about her company.
C) Talking about herself.
D) Obtaining precall information on the prospect.
E) Obtaining leads from better sources.

Question 60

Although salespeople often dislike prospecting, it is the only way to increase revenue.

Question 61

Salespeople from non-competing companies can be a good source for getting leads.

Question 62

Most buyers will readily welcome salespeople involved in cold canvassing.

Question 63

Many organizations use both inbound and outbound telemarketing to generate leads.

Question 64

One approach to prioritizing sales prospects is to compare them to an ideal customer profile.

Question 65

The Ideal Customer Profile refers to the characteristics of a firm's best customer or the perfect customer.

Question 66

Organizations can generate leads through advertising.

Question 67

Sales leads are also referred to as suspects.

Question 68

Strategic prospecting improves prospecting effectiveness while slightly reducing efficiency.

Question 69

In order for a lead to be considered a sales prospect, that lead must have a need for the salesperson's product.

Question 70

The internet is a good tool for marketers but isn't capable of being used as a tool to generate leads.

Question 71

Networking is a relatively ineffective method for generating leads

Question 72

In order for a lead to be considered a suspect, it must have a need for the salesperson's product.

Question 73

Sales leads are, by definition, qualified sales leads.

Question 74

Jim is a salesperson for XYZ company and is trying to expand his business into a new city. In a case like Jim's, networking is good method for generating leads.

Question 75

In order for a lead to be considered a sales prospect, that lead must have a need for the salesperson's product.

Question 76

The sales funnel is useful for understanding strategic prospecting.

Question 77

Cold calling is one of the most successful forms of prospecting.

Question 78

An organization's records of former customers are usually a poor source for prospecting.

Question 79

In order for a lead to be considered a sales prospect, the lead needs to be ready to make a purchase within a short time frame.

Question 80

Advertising inquiries are like inbound telemarketing in that the lead does some degree of self-qualifying.