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

MKT 3427 - Chapter 9

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

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

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

The"endless chain" prospecting technique is easy to use because it fits naturally into most sales presentations.

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

Using an existing customer as an intermediary (presentation of a letter or note) can reduce the amount of time spent on prospecting.

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.

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

Persons skilled in networking have learned that it is a good idea to conduct business while networking.

Qualifying is the process of identifying prospects who should be contacted.

In most selling situations, prospecting begins with a study of the market for your product or service.

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

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

Networking is another word for prospecting.

The process of qualifying prospects includes answering which of the following questions?
A) Is this the senior executive?
B) Does the prospect know who the decisionmaker is in the organization?
C) Can the prospect make the buying decision?
D) Can the pros

C) Can the prospect make the buying decision?

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

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

C) A certain number of customers will be lost every year by most companies.

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

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 com

E) integrate some prospect identification with regular selling duties

Which one 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 of the new prospects are qualified prospects.
B) Reduce the number of prospects

A) Shorten the sales cycle by quickly determining which of the new prospects are qualified prospects.

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

B) When you meet someone, tell the person what you do.

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) Middle Market Directory from Dun and Bradstreet
B) Directory of Corporate Affiliations

C) Data reports published by U.S. and Foreign Commercial Service

Which of the following is a true statement regarding prospecting?
A) Personal observation is an unlikely prospecting technique.
B) Cold calling prospecting is a systematic approach to identifying prospects.
C) Salespeople should not use friends and acquai

D) A salesperson cannot afford to spend time calling on persons who are not legitimate prospects.

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

E) that relies on making contacts with people and profiting from the connection

Estimating the potential sales volume that might be generated by each new account is part of developing:
A) a prospecting and sales forecasting plan
B) a sales analysis
C) the target market
D) a referral list
E) analytic software

A) a prospecting and sales forecasting plan

Which of the following is true regarding prospecting at trade shows?
A) It is hard to identify prospects.
B) It is easier to identify good prospects and close sales at a trade show.
C) It is costly because it is hard to close sales for trade show prospect

B) It is easier to identify good prospects and close sales at a trade show.

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

Which of the following is true regarding doing business in Germany?
A) Germany has been described as a "high context" culture.
B) Dinner is the most common meal for business meetings.
C) Flashy brochures will have more impact than statistic-filled ones.
D

D) There is a strong emphasis on punctuality.

A well-connected person who may not make the buying decision but who may have an impact on the person who does is a:
A) gatekeeper
B) referral
C) prospect
D) target market
E) center of influence

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

A) build value into the sales process

The portfolio 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) using a sales forecast to predict which prospects will bu

B) using multiple factors to classify prospects

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 ques

C) determining where a prospect is in the sales process

Educational seminars can be a good source of prospects because:
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 e

D) they allow you to educate

Networking outside of a salesperson's industry is largely:
A) meaningless
B) time-consuming
C) fruitless
D) neutral
E) beneficial

The term "social network" refers to:
A) your set of direct and indirect contacts
B) your set of direct contacts
C) your set of indirect contacts
D) an industry affiliation group
E) an industry research group

A) your set of direct and indirect contacts

A key concept in networking is to:
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

B) select who you will follow up with based on their usefulness

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

Salesforce.com is a leading provider of:
A) industry research
B) placement of salespeople
C) product development research
D) CRM software
E) payroll software

The responsibility for entering customer information and contact records into the CRM database usually belongs to:
A) the customer
B) the office manager
C) the data entry clerk
D) the sales manager
E) the salesperson

CRM software is useful because:
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 up

B) customer information is available to many people in the company

Sales intelligence involves answering which of the following questions?
A) Do you know your role?
B) Do you know your product?
C) Do you know my company?
D) Do you know my social background?
E) Do you have any special discount offers?

C) Do you know my company?

A downside to focusing too much effort on prospects with little potential is:
A) the pipeline may become hard to keep track of without CRM software
B) managers may assign some prospects to other salespeople
C) too little resources are available to focus o

C) too little resources are available to focus on prospects with high potential

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) saleperson bonus information on closed sales
C) amount and dates of sales competitors have made to the prospect

A) amount, date, and likelihood that a sale will close

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 ma

E) having prospects at many different stages of the sales cycle