MAR exam 3
All the following are examples of major objections, except: Company has been bought out We are downsizing. I've lost my job Correct! Can you clarify that last piece of information? Project has not been funded; no capital fundingfo r this year.
Can you clarify that last piece of information?
"Relationship selling" implies that a salesperson is:
Concerned with both customer's welfare and ensuring a win-win situation
Sometimes you cannot immediately answer a question due to lack of knowledge. What do you do? Give the client the answer you think they want to hear. Avoid it. It's probably not that important anyhow Correct! Let the client know you do not know the answer, but promise to get back to them. Find out the information and get back to them by a specific date. Let the client know you do not know the answer, but promise to get back to them
Let the client know you do not know the answer, but promise to get back to them. Find out the information and get back to them by a specific date.
Personal reasons for negotiating include all of the following except:
Money is always the motivator
All the following are personal reasons why people may wish to negotiate, except:
Obtain raw materials at a lower cost
There are two basic types of objections-- major and minor objections. Minor objections involve prospect's concerns over price, their inability to afford your product or a change in their buying situation—their company has been acquired. These objections are easy to overcome. True Correct! False
false
Use "Little Yes's" obtained during your Approach call to overcome subsequent client objections. You Answered True Correct Answer False
false
Use "Little Yes's" obtained during your Qualifying call to overcome subsequent client objections. You Answered True Correct Answer False
false
When asking a closing question, wait for the client's response. If the client does not respond after 10-15 seconds, re-summarize the reasons why they should buy.
false
When is it time to ask for the order? You must finish all the steps of the sales process before you can ask for the order.
false
When negotiating, it is OK to make price concessions. The client will not expect such pricing decreases on future purchases.
false
When using a Summary Close, you pass over the contract and ask the client to sign at the bottom by the "X."
false
Your newly signed customer is a large corporation. Because of its size there will be no need to perform a credit check. Because they are so big, you know your company will be paid.
false
The beauty of a "Choice Close" is that it basically avoids the opportunity for the customer to say "No." You offer the prospect an option between "two yes's", selecting either Solution "A" or Solution "B". You then ask, "Which do you prefer?"
True
Questions/concerns mean that a prospect will not be buying. True Correct! False
false
The "Direct Close" is a very safe close to use because there is 50% chance the client will say "Yes."
false
The "Direct Close" is the first close you should use when asking for the order
false
The correct method for overcoming a price objection would be to immediately drop your price. True Correct! False
false
The follow-up phase of the selling cycle is probably not a good time to ask your "new" customer for potential referrals-- other people who may be able to use your product.
false
The only time you establish rapport with a prospect is during the "Approach" phase of a sales call.
false
How many times should you ask for the order. As many times as it takes to get the order. Vary your closing techniques. You do not want to annoy the client
true
If a sales person performed a proper job of qualifying the prospect's needs, recommended an appropriate product and answered all the prospect's concerns, that sales person has earned the right to ask for the order.
true
If the client makes a counter-proposal that is reasonable, "ink the deal," but put in writing and have it signed by all parties.
true
If you as the sales person asks a "closing" question and you break the silence first, you take away the obligation of the client to respond to the closing question
true
If you cannot reach an agreement in a negotiation, depart friends; do not burn bridges. You may have a chance to sell this person sometime again in the future.
true
If you cannot reach an agreement in a negotiation, depart friends; do not burn bridges. You may have a chance to sell this person sometime again in the future. A new product offering may be that opportunity.
true
Important qualifying information may include: knowing a company's fiscal year and when they do their corporate planning for capital equipment.
true
In Negotiations it is important that they result in a Win-Win solution for both sides
true
In a "Ben Franklin" close you take a sheet of paper and divide it in half: List all the reasons why the client should buy your product on the left. The buyer places their reason why not to buy on the right. Your list on the left should be longer. You point that out to the client and say, "Looks like the reasons to buy, out weigh the reasons not to buy! Sounds we have reason to do business.:"
true
In sales you have earned the right to ask for the order if:-- You established rapport-- Did a proper job of qualifying-- made an appropriate product recommendation
true
It is 4-5 times easier to sell to an existing the customer than it is to sell to a new prospect
true
It sounds like a contradiction, but objections may actually be an opportunity to close the order. Correct! True False
true
It was suggested that when you did a product recommendation that you actually select two products that could satisfy the client's solution. This would then lead naturally into a Choice Close.
true
Large companies typically have a purchase order process. This first requires the purchaser to fill out a Request for Purchase Order, then obtain the necessary signatures depending on the dollar amount of the order. Depending on the number of signatures required, it can be a lengthy process. Murphy's Law can still upset the sale.
true
Minor objections can generally be overcome Correct! True False
true
Never ignore or dodge a question. It will impact your credibility Correct! True False
true
Objections come in three forms: Major, minor and financial objections. Minor objections are generally raised by the prospects to clarify information. They are generally easy to overcome. Correct! True False
true
Objections sometimes come as a surprise. One method of minimizing surprises would be to ask early in a sales call, "Has anything changed since my last visit?" Correct! True False
true
Objections/questions sometimes come as a surprise. One method to buy yourself some time maybe to repeat the question, as you heard it and then ask the client if that was their concern. Correct! True False
true
One good closing technique is to summarize the "little yes's," gain their agreement then ask for the order.
true
Prospect says "Your price is too high!." Get the client to justify that statement. You answer, "Compared to what?" Correct! True False
true
Real selling begins when the prospect raises an objection. Correct! True False
true
Selling is not a complex process. But the discipline of selling starts with setting a pre-call objective and purpose. "What is my purpose for making this call—what do I intend to cover?" Your call objective answers the question, "If this call is successful, what should be my next step in the selling process."
true
The Direct Close is the least safe close to use because there is a 50%/50% chance the client may say no.
true
The Sales Cycle is a logical progression and Closing is the likely result of that process.
true
The definition of Negotiations sounds very civilized, "Find terms of agreement and discussion of settlement terms."
true
The essence of negotiations is to find out the needs of the other individual and try to meet them without losing sight of your goals
true
The following would be an example of an assumptive close: You've presented/ demonstrated the key selling features/ benefits to your prospect. You've received agreement to those benefits. Place the contract and a pen by your prospect's hand and say, "It sounds like we have reason to do business!"
true
To close a deal it is suggested that you not drop your price. Instead use a "special concession." Example: Offer the prospect an incentive to close within a certain time frame e.g. "If you agree to purchase my product by ... , we will also include ... How do you feel about that?"
true
Trial closes can actually be a way to overcome objections and result in a closing opportunity. Correct! True False
true
Use "Little Yes's" obtained during a presentation to overcome subsequent client objections. Correct! True False
true
Use a trial close for overcoming a financial objection if you have a viable solution such as using expense money to cover the cost of a rental or a lease-to-purchase strategy. Correct! True False
true
When asking a closing question, he (she) who speaks first loses!
true
When negotiating in person, pay attention to body language. When negotiating on the phone, analyze the client's voice patterns
true
When negotiating, assume that clients have the same motives as yourself.
true
When using an Assumptive Close, you pass over the contract and ask the client to sign at the bottom by the "X."
true
Whenever you ask a question, HUSH! Whoever speaks first loses! Correct! True False
true
Your prospect expresses a concern about the newness of your product and their unfamiliarity with it. A good method for overcoming their objection may be to have them try it out or loan it to them for a specified period of time. Correct! True False
true
f you are confident that you can overcome an objection, turn the objection into a trial close. Format of a trial close is, "If I can show...would we have reason to do business?" Correct! True False
true
Buying signals, indicators by a prospect they are ready to close, could include all the following except:
Appears anxious to make a phone call
All the following are general rules regarding competition, except:
B. If your competition is mentioned, get defensive. Discuss the competition's weaknesses.
Which of the following statements is false?
B. The most effective sales presentation is that presentation is one "you make as you go along—on the fly."
Which statement is true about the primary purpose of an approach call?
D. Make a good first impression and begin to develop a relationship
All the following are personal reasons for entering into negotiations, except
Death of a business partner
Which definition of negotiating results in the best outcome? Negotiating is:
Determining the needs of the other person and trying to meet them without losing sight of your own goals.
In a Summary close you do all the following, except:
Review Little Yes's you received in the Qualifying call.
In a Summary close you do all the following, except:
Summarize just the featues of your product
Common objections include all the following except: Need to talk to the boss Correct Answer Your price appears to be too low You Answered Happy with current provider Have to think about it
Your price appears to be too low
In a _______________ close, the sales person explains all the reasons why a person should buy. It should be a fairly long list. Then the prospect list the reasons why the should not buy (a shorter list). The sales person then says, "it looks like the reasons for buying outweigh the reasons for not buying. Sounds like we should do business!"
ben franklin
A _________ style of closing involves offering the prospect two alternative solutions and having the prospect select the alternative that best suits their needs.
choice close
The riskiest style of closing is the ___________ close. It has a 50-50 chance of resulting in a "No" answer:
direct close
All the following are business reasons for entering into negotiations, except
divorce
"It ain't over till its over!" You received a "yes" to your closing question. The sale is final.You have nothing else to do but deliver the product
false
A Ben Franklin close is used when dealing with a person who is a quick decision maker.
false
A Purchase Order performs two purposes. The selling company has the authority to make a purchase. The buying company uses the purchase order as authorization to request payment.
false
A client's objections indicate that they will not buy your equipment True Correct! False
false
Discourage questions. It generally means that a prospect will not be buying your product. True Correct! False
false
How many times should you ask for the order. Only once. You do not want to annoy the client
false
If the client makes a counter-proposal that is reasonable, "ink the deal" and shake hands. It is now a legally, binding agreement. No need to put it in writing.
false
If this is a second time buyer, the seller's Order Entry Department will require a credit check be performed on the buyer's corporation.
false
In your selling course you learned four closing techniques.
false
It is a good assumption that the person you are negotiating with has the same motives as you do.
false
It is easy to handle major objections. True Correct! False
false
It was suggested that when you did a product recommendation that you actually select two products that could satisfy the client's solution. This would then lead naturally into an Assumptive Close.
false
Let the client know you do not know the answer to one of their questions. Promise to get back to them, but don't. They will likely forget about their question anyhow True Correct! False
false
Objections come in three forms: Major, minor and financial objections. Financial objections are raised by prospects to clarify information. They are generally easy to overcome. True Correct! False
false
Objections come in three forms: Major, minor and financial objections. Major objections are generally raised by prospects to clarify information. They are generally easy to overcome. True Correct! False
false
Objections offer an excellent opportunity to clarify a prospect's concerns about your product, but never attempt to close a prospect after they have raised an objection. You Answered True Correct Answer False
false
Once you have gained agreement from the prospect that they will buy your product, continue selling. This will convince them they made a good buying decision.
false
Only use a trial close for a financial objection if you have a viable solution such as utilizing capital equipment money. You Answered True Correct Answer False
false
Price is the only reason why people negotiate.
false
"I want time to think it over" is a frequent objection. One way to handle it maybe to re-summarize the customer's original buying criteria, how you've satisfied that criteria and the money that may be lost if your product or service is not adopted. Then ask for the order. Correct Answer True You Answered False
true
"It ain't over till its over!" You received a "yes" to your closing question, but you still have to do the paper work and possibly negotiate terms of the sale.
true
"Your price is too high" may be a concern that cost of buying your product outweighs its potential benefits. Re-state the value you are providing. Then trial close with "If I can prove to you that my product will reduce your operating expenses by 20%, would we have reason to do business? Correct! True False
true
A handshake is usually the only physical contact a sales person makes with a prospect during an approach call.
true
After the installation you ask the new customer, "Is there anything I can do for you?" The new customer says "Yes, I need...," you go back to Step #4- Qualifying in the in the selling process.
true
Another method of dealing with surprise objections would be to restate the objection back to the prospect in the form of a question and ask for clarification. This may buy yourself the necessary time to regain your composure while considering your strategy for dealing with the objection. Correct! True False
true
Anticipate objections. Prepare for likely objections that will be raised. Practice your responses ahead of time Correct! True False
true
Ask for the order, then be quiet. Do not be the first person to speak.
true
Closing can be an intuitive thing (gut reaction). You may sense that the prospect is ready to buy.
true
Closing reluctance is similar to the reluctance you had in making your initial Approach call-- fear of people, saying no.
true
Closing techniques may be the one aspect of selling cycle that is most personalized to the individual sales person. Sales people tend to develop a favorite closing technique.
true
Follow-up after the sale is a good time to ask your new customer if there is anything else you can do for them or in another department within in the company
true