Which one of the following efforts is used by progressive sales personnel to improve the quality of the prospecting process?
MKT 3427 - Chapter 9The 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? C) Can the prospect make the buying decision? A typical company will lose approximately what percent of its customers every year? Joe Girard's "Ferris Wheel" concept assumes which of the following? 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 major barrier to prospecting is
time. Therefore, salespeople should: 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. Which one of the following is a guideline for effective networking? 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? C) Data reports published by U.S. and Foreign Commercial Service Which
of the following is a true statement regarding prospecting? 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: 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 Which of the following is true regarding prospecting at trade shows? 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: Which of the following is true regarding doing business in Germany? 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: To increase the odds that customers will give referrals, a salesperson should: A) build value into the sales process The portfolio model of classifying prospects involves: B) using multiple factors to classify prospects The sales funnel model of classifying prospects involves: C) determining where a prospect is in the sales process Educational
seminars can be a good source of prospects because: D) they allow you to educate Networking outside of a salesperson's industry is largely: The term
"social network" refers to: A) your set of direct and indirect contacts A key concept in networking is to: B) select who you will follow up with based on their usefulness Cold calling can be an effective technique for reaching: Salesforce.com is a leading provider of: The responsibility for entering customer information and contact records into the CRM database usually belongs to: CRM software is useful because: B) customer information is available to many people in the company Sales intelligence involves answering which of the following questions? C) Do you know my company? A downside to focusing too much effort on prospects with little potential is: 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 A "balanced funnel" involves: E) having prospects at many different stages of the sales cycle |