MK4330 Midterm Prep
Select the attributes of a successful salesperson. (For full points you must select all correct answers.) - Active Listening - Extroverted - Service-Oriented - Motivation, persistence in the face of obstacles - Filled with integrity, honest and ethical - Willingness to bend the facts to ensure a sale
- Active Listening - Service-Oriented - Motivation, persistence in the face of obstacles - Filled with integrity, honest and ethical
Examples of unethical sales behaviors are: - Concern for your own interests, instead of the customer - Selling unneeded products or services - All available choices. - Accepting favors - Exaggerating benefits of the product - Falsifying product testimonials
- All available choices.
If a sales representative uses a high-power pose during a presentation, it: - is a powerful or expansive posture that evokes confidence. - is a more assertive feeling or behavior. - has very little impact on the prospect. - should be avoided and a low-power pose used instead. - Choices 1 and 2. - No available choices.
- Choices 1 and 2. A high-power pose evokes confidence and power. A sales representative's physical presence is contagious and will influence a buying decision.
Select the actions or character traits given in SELL Chapter 2 that help a sales representative earn trust. (For full points you must select all correct answers.) - Customer orientation - Expertise - Dependability - Egregious - Gregarious
- Customer orientation - Expertise - Dependability HOW DO YOU EARN TRUST? EXPERTISE, DEPENDABILITY, CANDOR, CUSTOMER ORIENTATION, and COMPATIBILITY/LIKABILITY.
According to Chapter 4 in the SELL textbook, there are THREE communication subcomponents. (For full points, select all correct answers.) - Affixing your initial judgments of the buyer and steadfastly engaging with them based on your profiling. - Developing effective questions for uncovering and diagnosing buyers' needs and expectations. - Explaining and bringing to life the benefits of a proposed solution. - Using active listening skills to facilitate the interchange of ideas and information. - Outlining and calculating the profitability of your sales deal in order to gain buy-in from the executives of your firm.
- Developing effective questions for uncovering and diagnosing buyers' needs and expectations. - Explaining and bringing to life the benefits of a proposed solution. - Using active listening skills to facilitate the interchange of ideas and information.
According to a Mind for Sales, today's successful salesperson needs to be focused on and measure Customer Facing Time. Select the ways a sales representative can increase their Customer Facing Time. (For full points, must select all correct options.) - Direct text messages with a prospect to coordinate a meeting. - Adding data to a Client Relationship Management (CRM) System - In-person visits with the prospect. - Direct email communication with a prospect list. - Water cooler conversations in the office with fellow colleagues. - Client meetings via video or phone. - Social media interaction on your personal account with your friends. - Organizing reports for your boss.
- Direct text messages with a prospect to coordinate a meeting. - In-person visits with the prospect. - Direct email communication with a prospect list. - Client meetings via video or phone.
No sales representative ever wants to lose a client, but sometimes it is inevitable. Select all the reasons a company could lose clients. (For full points, select all correct answers.) - Dissatisfaction with the salesperson - Competition - Dissatisfaction with the product - Changes in buying behavior - Changes in market conditions
- Dissatisfaction with the salesperson - Competition - Dissatisfaction with the product - Changes in buying behavior - Changes in market conditions
SELL Chapter 5 discusses the reality of rejection during a sales process. What are the specific ways the SELL textbook offers for dealing with rejection in a positive manner. (For full points, select all correct responses.) - Expect it and don't take it personally. - Ask why and learn from the response. - Stick to your routine. Continue to prospect. - Remain polite and professional. "Keep the door open." - Compare yourself to other sales representatives who are doing worse than you. - Complain to your boss about the tough prospecting field.
- Expect it and don't take it personally. - Ask why and learn from the response. - Stick to your routine. Continue to prospect. - Remain polite and professional. "Keep the door open."
According to Mark Hunter in A Mind for Sales, your network is your best investment. In the 14th Chapter he talks about the importance of your Network Triangle. The Network Triangle is made up of three categories of people. What are those categories? (For full points, select all correct answers.) - Mastermind group - Tribe - Subject matter experts - Users - People of influence - Stakeholders
- Mastermind group - Subject matter experts - People of influence A Network Triangle has three levels: 1. Your Core Group - Mastermind Group, to whom you are accountable. (Often made up of 3-4 people whom you trust.) 2. Subject-Matter Experts - you draw on for expertise. (Aim for 25 members from whom you can learn or help. These people should be authentic, integrity-centered, goal-driven.) 3. People of Influence - those you influence and those who influence you. (The average person has 250 people in their sphere of influence.)
What are the possible sources for identifying a potential client. Select the correct answer(s) that apply. (Select all correct answer(s) for full points.) - Word of mouth - CRM - Customer Relationship Management Software - Trade associations - All available choices - Internal use only confidential information from your competitor - Information provided by salespeople
- Word of mouth - CRM - Customer Relationship Management Software - Trade associations - Information provided by salespeople The possible sources for identifying a potential client are: information provided by salespeople, trade associations and shows, product source directories, the Internet, advertising, word of mouth, social media, CRM - Customer Relationship Management Software.
When a sales representative has an initial dialogue with the prospect, is it important to gather as much information as possible about the selling situation. This type of information will help the rep qualify the prospect and forecast the timing of their movement through the sales funnel. Such information to gather about the selling situation is: (For full points, select all correct answers.) - motivation for buying - current supplier - available budget - competitors involved - buying process - no available choices
- motivation for buying - current supplier - available budget - competitors involved - buying process
Select all key sources a successful sales representative would use to aid with their prospecting process. - referrals - online searches - networking - industry conferences - a competitor's confidential information - professional organizations
- referrals - online searches - networking - industry conferences - professional organizations
According to Mark Hunter, as described in Chapter 11 in A Mind for Sales, a sales representative's greatest assets are your: (For full points select all correct answers). - service level agreements - time - network - mind - key performance indicators - pay package
- time - network - mind
When having an initial dialogue with the prospect, the sales representative should gather a few vital pieces of information to enter into the CRM system, such as the buyer's...(For full points, select all correct answers.) - title - name - financial status - marital status - contact information - health status
- title - name - contact information
Fortune 500
500 of the largest publicly held US corporations by total revenue
Vendor
A person or company offering something for sale.
In A Mind for Sales Chapter 3, Mark Hunter talks about overcoming negative sales calls. Select all correct actions he offers as a positive solution to these kinds of experiences. (Must select all correct answers for full points.) - Avoid overthinking a negative call. Ask yourself, "In 30 days from now, will I remember this call?" The answer is probably 'NO' - Delay making further calls until you are in a better mood. - Create a list of positive outcomes where you have helped a customer. - Only fertilize positive seeds in your mind! - Follow up with an existing customer. - Call the prospect back and tell them how you really feel about the negative call. - Vent and complain to your colleagues. It will help you to feel better. - Relax! Remind yourself it is only one sales call.
According to Mark Hunter there is a five step game plan to overcoming negative sales calls. - Avoid overthinking a negative call. Ask yourself, "In 30 days from now, will I remember this call?" The answer is probably 'NO' - Create a list of positive outcomes where you have helped a customer. - Only fertilize positive seeds in your mind! - Follow up with an existing customer. - Relax! Remind yourself it is only one sales call.
Product
An article or substance that is manufactured or refined for sale
Eli is a sales representative for Yardbird, an outdoor furniture manufacturer. Two years ago, he had been surprised by the influence of the global pandemic and the greater demand for sales opportunities in his sales funnel. Two years later, he found that most of his prospects had already bought products from him. He told his boss, Kristina, that the amount of time for prospects to move from one stage to the next in his sales funnel was starting to ___________ (shorten or lengthen) and that his conversion rate would likely _______________ (decrease or increase).
Answer for blank # 1:lengthen Answer for blank # 2:decrease If there is a greater demand for a product because of an external force (economic, political, public health, etc.) then the amount of time it would take for a buyer to go through the sales funnel from introduction to purchase decision would shorten because they would be compelled to make faster decisions. Conversely, if there is less demand, it would take longer for a prospect to move through the sales funnel. A Conversion Rate is the ratio of the potential customers that your sales funnel transforms into buyers at the end of the sales process. If there is les demand for your product the conversion rate would most likely decrease.
According to A Mind for Sales Chapter 9, it make little to no difference in your outcome as a salesperson if you take the time to understand each person to whom you are selling. In our world of technology and AI, there is little to no power in personal connections. True False
FALSE
If your prospective client does not see your product's value immediately, it means you cannot help them now or in the future. True False
FALSE
Rules for interpersonal communications, such as HAPTICS (communicating through touch, e.g. handshakes, pat on the back, etc.) remain the same no matter the culture, social environment, or public health mandate. True False
FALSE
In a buying team, examples of roles are 'User', 'Influencer', 'Coach', and 'Gatekeeper'. It is NOT possible for one member of the buying team to play two roles at the same time. True False
FALSE A buying team member CAN play two roles at once.
According to A Mind for Sales, it is important to build relationships to capitalize on opportunities to create more value and sales. Although, it is unnecessary for successful sales representatives to build relationships with more than one business leader at each prospective company. True False
FALSE According to A Mind for Sales, it is important to build relationships to capitalize on opportunities to create more value and sales. It IS necessary to have relationships with more than one business leader at each prospective company. Remember the buying team from Chapter 3 in the SELL textbook? Aim to have a relationship with each member. According to A Mind for Sales the rule of thumb is: For every $133,000 in annual revenue, you should have at least ONE strong relationship at the account. Build the relationships now to capitalize on opportunities to create more value and sales.
Mikhail is a sales representative for SmartFox Software and his prospect is The First National Bank of Hawaii. The buying committee for this bank generally has the principal characteristics of Low Assertiveness and Low Responsiveness. Mikhail should not be concerned about this because it will take the same amount of time for this deal to progress through his sales funnel as a prospect with High Assertiveness and High Responsiveness. True False
FALSE Buyers with Low Assertiveness/Responsiveness would be slower to make decisions than those with High Assertiveness/Responsiveness. This type of information is helpful for forecasting when a sales deal may close.
A tactical question is used in open-ended and closed-ended question formats to: Gain confirmation, uncover attitudes, opinions, and preferences that the prospect holds. True False
FALSE Evaluative questions - Use open-end and closed-end question formats to: Gain confirmation, uncover attitudes, opinions, and preferences that the prospect holds.
Immediate, short-term sales success in any industry is built on referrals, in which trust plays an important role. True False
FALSE Long-term sales success in any industry is built on referrals, in which trust plays an important role.
Part of your Monday Mission, according to Chapter 2 in A Mind for Sales, is to spend time reviewing reports and avoid making phone calls. True False
FALSE Part of you Monday Mission, according to Chapter 2 in A Mind for Sales, is to know what you expect to accomplish and give each task a specific amount of time.
Sales is not classified as a 'profession' for several reasons, two of which are because it does not have a unique set of professional skills nor does it make a significant contribution to society. True False
FALSE Professional sales is considered a profession.
Sales Value Proposition, or SVP, is a powerful tool to show the strengths, weaknesses, opportunities, and threats of your competitor. True False
FALSE Sales Value Proposition, or SVP, is a powerful messaging tool for communicating the unique value of the solution you are selling.
According to Chapters 14 and 15 in A Mind for Sales, one reason people choose a sales career is because it is an autonomous, solo activity. True False
FALSE Sales is not a solo activity, rather it is a team sport. We do better when we are aligned with others, and it is why our network is such a valuable asset.
As a salesperson at Logitech International S.A., Ali is expected to generate revenue but is not expected to identify or qualify leads (prospective customers). True False
FALSE Salespeople are responsible for both generating and qualifying leads and driving revenue. Salespeople contribute to their firms as revenue producers, as sources of market research and feedback, and as candidates for management positions.
It is not necessary for a salesperson to have knowledge about the product, services, or customer in the process of earning the trust of a buyer. Trust is built by the infectious personality of the salesperson. True False
FALSE The more a salesperson knows, the easier it is to build trust and gain the confidence of the buyer. Buyers have certain expectations of the salesperson and the knowledge that he or she brings to the table
The psychological attribute of a product is known as the 'delighter', but the functional attribute is still far more important because it has a 63% level of influence on the buyer's satisfaction. True False
FALSE The psychological attribute of a product is known as the 'delighter', and it impacts 63% of the buyer's satisfaction. Whereas the functional attribute only impact 37% of the buyer's satisfaction.
All buyers have the same need and decision process. For example a corporate buyer for Foot Locker, an athletic equipment buyer for GSU, and a student in this class buying a pair of vintage sneakers, all have the same need and buying decision making process. True False
FALSE There are different types of buyers (Consumer and Business) and the buying process is different for each. That's what makes sales so fun. It's not a one-size-fits-all model.
Salespeople are concerned with profitability in bottom-line terms, whereas accountants and financial staff are responsible for achieving a healthy "top line" on the profit and loss statement. True False
FALSE Although accountants and financial staff are concerned with profitability in bottom- line terms, salespeople are constantly reminded of their responsibility to achieve a healthy "top line" on the profit and loss statement. Salespeople are increasingly responsible for improving profitability, not only by producing sales revenues but also by improving the productivity of their actions.
Transactional sales is about talking WITH rather than AT the customer. A collaborative and two-way form of communication that allows buyers and sellers to develop a better understanding of the need situation and work together to co-create the best response for resolving the customer's needs. True False
FALSE TRUST BASED SALES COMMUNICATION is about talking WITH rather than AT the customer.
Competitor
One selling or buying goods or services in the same market as another
Prospect
Potential customer. A person or company to whom a sales representative sells a product or service.
A sales representative's passion for the product and eagerness to connect the value with the prospect's need can have a significant impact on the prospect's buying decision, according to A Mind for Sales. True False
TRUE
A salesperson is often responsible for quoting prices. As a representative of the selling firm, these quotes legally bind a company. True False
TRUE
According to Mark Hunter in A Mind for Sales Chapter 7, Sales is about delivering incremental value to the customer when they were not expecting it and most likely did not know they needed it. True False
TRUE
According to Mark Hunter in A Mind for Sales, sales is about delivering incremental outcomes to people who do not expect it. It is your opportunity to share the value of your product or service with your prospect. True False
TRUE
In Chapter 12 of A Mind for Sales, Mark Hunter encourages sales representatives to focus on that which makes a difference with a customer or helps achieve important goals. True False
TRUE
Problem solving goes beyond identifying the needs of the prospect, to developing alternative solutions for satisfying those needs. It involves educating the prospect or customer. TRUE OR FALSE
TRUE
The B-to-B or Business Market includes firms, institutions, and governments that acquire goods and services: raw material, use for day-to-day operations, for resale to the end customer. This type of market stresses VALUE as a cornerstone for buying decision. True False
TRUE
Unfortunately, a small minority of buyers believe a salesperson actually understands their situation and needs. True False
TRUE
We have discussed the quote, "Nearly half of all salespeople quit trying to sell to a prospect after the first call. But more than half of all sales are made after the fourth call." If this is accurate, a business-to-business sales representative should consider reengaging with a qualified prospect even if they heard 'no' the first time. True False
TRUE
When working with buying teams, there are multiple people who have influence on the buying decision throughout your prospect's organization. The role of the 'Coach' guides the decision process and makes recommendations. True False
TRUE
Avery is a sales representative for LexisNexis, a global leader in data analytics supporting compliance and fraud detection. Avery is paid a commission for every prospect who signs a new contract. She talked to her manager about wanting to increase her take home pay. Her sales manager told her that he could coach her to help increase her customer conversion ratio at each stage in the sales funnel and this would help increase her take home pay. Was this the correct advice from Avery's manager? True False
TRUE A Conversion Rate or Ratio is the rate at which potential customers are transformed into buyers. The higher the rate or percentile, the more a salesperson is able to close and the more commission dollars a salesperson will make. All this data is kept in a CRM and shown as part of your sales funnel.
A customer-oriented salesperson covers both the pros and cons of a recommended product when making a sale to a customer. True False
TRUE A salesperson who has a customer orientation gives fair and balanced presentations of products to his or her customers. This includes covering both the pros and cons of a recommended product.
The salesperson uses a questioning, probing tactic to uncover important buyer needs. The salesperson must uncover the needs, present the offering to satisfy the needs, and continue selling until the prospect makes a purchase decision. True False
TRUE Need Satisfaction - the salesperson uses a questioning, probing tactic to uncover important buyer needs.
The sales dialogue is a series of conversations between buyers and sellers that take place over time in an attempt to build relationships. True False
TRUE The sales dialogue is a series of conversations between buyers and sellers that take place over time in an attempt to build relationships.
A sales dialogue helps salespeople determine their prospective customer's strategic priorities? True False
TRUE Meaningful conversations where the sales representative asks thoughtful questions and engages in actively listening will help the sales rep understand the buyer's needs.
Headquarters
The place or building serving as the managerial and administrative center of an organization
Annual Revenue
The total amount of money made by sales or services in a given year before costs or expenses are taken out.
A sales funnel is: a. All available choices. b. A tool for tracking prospect progress from lead to sale. c. Has a start, middle, and an end. d. Is wider at the top and smaller at the bottom. e. Offers a standardized way for measuring conversion ratios each step of the way.
a. All available choices.
During a sales presentation, good interpersonal skills are paramount to a sales representative's success, such as: a. All available choices. b. Maintaining comfortable and steady eye contact with the prospect or even the "eye" of the video recording device. c. Articulate and clear voice projection. d. Asking thorough questions and engaging in active listening.
a. All available choices.
What is the main reason sales representatives should "always be prospecting"? a. All available choices. b. Position the sales representative as a trusted advisor. c. Make up for client losses. d. Develop the funnel of potential customers. e. Generate new revenue.
a. All available choices.
Principal Characteristics of your buyer can impact the speed and receptivity of a decision process. If your prospect is supportive, easy going, flexible regarding time and spontaneous; they would be know as ____________________ on the Assertiveness/Responsiveness scale. a. Amiable = Low Assertiveness and High Responsiveness b. Analytical = Low Assertiveness and Low Responsiveness c. Expressive = High Assertiveness and High Responsiveness d. Driver = High Assertiveness and Low Responsiveness
a. Amiable = Low Assertiveness and High Responsiveness
Bob, your prospective client at the manufacturing plant, says to you, "We really like the our current X400 product. Why should we switch and use your product?" A salesperson must have (what quality) _________ to answer this question. a. Competitive knowledge b. Promotion knowledge c. Inventory knowledge d. Customer knowledge e. Policy knowledge
a. Competitive knowledge Salespeople will probably be asked how their product stands up again the competition. It is important to have competitor knowledge.
What are the four descriptive factors of the Success Wheel as described in Chapter 2 of A Mind for Sales. a. Motivation, Momentum, Confidence, Success b. Morality, Reliability, Courtesy, Respect c. To Know, To Do, To Live, To Be d. See It, Own It, Solve It, Do It
a. Motivation, Momentum, Confidence, Success The four descriptive factors of the Success Wheel as described in Chapter 2 of A Mind for Sales are: Motivation, Momentum, Confidence, and Success. Successful salespeople start with Motivation, which leads to Momentum. Once you have Momentum, it will build your Confidence. Confidence leads to Success. Continue the cycle by engaging with Motivation in order to keep the Success Wheel going.
Creating solid plans are the foundation for effective prospecting, of which 'setting goals' and 'allocating time' are the first two pieces of the plan. What are the three other pieces to complete the puzzle for effective prospecting? a. Staying positive, keeping records, and evaluating what is working for you. b. Waiting for favorable market conditions, relying on referrals, and staying positive. c. Allocating a day for reviewing reports, band wagoning with other sales representatives, and creating a numbers game. d. An outgoing personality, a networking group, and analyzing client loss reports.
a. Staying positive, keeping records, and evaluating what is working for you.
Timothy works as a sales representative for Mondelez International, a leading manufacturer of chocolates and confections. Their lead competitor for confections is The Mars Company. The ____________ is the 'sweet spot' (pun intended) where Timothy can find an advantage that separates their products over that of their arch-rival. a. Value Wedge b. Return on Investment c. Value Parity d. Competition e. Consultative Selling
a. Value Wedge Your Value Wedge is what makes your product or service different to that of your competitors.
In Chapter 4 of the SELL textbook, the important acronym SPIN is discussed. Many students will need to role-play a sales engagement during an interview process. Using SPIN to direct your conversation will help you in the role-play. SPIN stands for understanding the SITUATION and PROBLEM of your current prospect. Also, a. asking the how your contact IDENTIFIES on the buying-team role and NURTURE the relationship with that contact. b. telling about the INVESTMENT of your product and focusing on the NUMBERS associated with the deal. c. creating an IDEAL scenario for the prospect to consider but keep your focus on only the NECESSARY key points. d. asking the how your contact IDENTIFIES on the buying-team role and NURTURE the relationship with that contact.
a. asking the how your contact IDENTIFIES on the buying-team role and NURTURE the relationship with that contact.
Confidentiality is..... a. entrusting someone with sensitive information. b. free from concealment. c. not necessary in the sales process. d. consistently doing what is right. e. having he traits of impartiality and honesty. d. being free from danger.
a. entrusting someone with sensitive information. Confidentiality is entrusting someone with sensitive information. At the beginning of the sales process, many times companies with have one another sign a Non-disclosure Agreement (NDA) which binds both parties to confidentiality.
According to Chapter 15 in A Mind for Sales, one of the fastest ways to gain a response from a senior-level person in a company you sell to is by_____________________________ . This is called 'insight selling'. a. sending them an email with a link to a newsworthy story about one of their customers. b. showing up unannounced at their place of business. c. calling them repeatedly in a short period of time until they pick up the phone. d. post publicly on their business' social media page and mention that you have been trying to get in touch with them. e. All available choices.
a. sending them an email with a link to a newsworthy story about one of their customers.
The Return on Investment (ROI) is: a. the benefit (or return) of an investment, divided by the cost of the investment. b. a strategic management technique used to help an organization identify crucial factors related to business competition or project planning. c. the best opportunity for differentiation. d. a common set of accounting rules, standards, and procedures issued by the Financial Accounting Standards Board
a. the benefit (or return) of an investment, divided by the cost of the investment.
When a successful business-to-business sales representative prospects for new clients over a long period of time, they are aiming to: a. Secure commission dollars for an immediate transactional sale. b. Become a trusted advisor and build a strong referral network. c. All available choices. d. Edge out the competition to secure a monopoly for their company. e. Gather prospect's information in their personal database in case they ever switch jobs.
b. Become a trusted advisor and build a strong referral network.
Sales representatives use ____________________ software as a valuable technology tool to accumulate and update prospect information and view the progress of each stage of their sales funnel. a. Portfolio Measurement b. Customer Relationship Management (CRM) c. Service Level Agreement d. Rolodex e. Portfolio Management
b. Customer Relationship Management (CRM)
The ADAPT Technique of questioning is used to: a. Guide a prospect toward the sales representative's way of thinking through Closed-end questions. b. Find a prospect's needs through Assessment and Discovery questions. c. All available choices. d. Close the sale by avoiding Probing or Tactical questions.
b. Find a prospect's needs through Assessment and Discovery questions.
Alivia is a young college graduate who is looking for a sales job in a textile business. To better their chances of being selected by employers, they decide to enhance knowledge of the trends in the market. In this scenario, it is evident that Alivia is trying to enhance _____. a. Service resilience b. Industry knowledge c. Functional resilience d. Psychological knowledge e. Customer orientation
b. Industry knowledge
Hal is a salesperson for a technology company. Hal informs customers about new company policies that are likely to affect them despite the risk of losing them. In this scenario, Hal exhibits _____. a. quota focused behavior b. customer-oriented behavior c. resilient behavior d. covert behavior e. profit-oriented behavior
b. customer-oriented behavior Ethical sales representatives focus on the customer rather than themselves and place the customer interests above a short term need to 'make a sale'.
An open-ended question: a. limits the customers' responses to one or two words. b. is designed to allow the customer respond freely. c. elicits more articulate and precise responses from the customer for use in needs discovery and solution identification. d. is used to shift or redirect the topic of discussion when conversation goes off course.
b. is designed to allow the customer respond freely.
A dichotomous question: a. is used to gain confirmation, uncover attitudes, opinions, and preferences that the prospect holds. b. is used to shift or redirect the topic of discussion when conversation goes off course. c. allows the customer to select from two or more options. d. elicits more articulate and precise responses from the customer for use in needs discovery and solution identification.
c. allows the customer to select from two or more options.
A probing question: - a. is used to shift or redirect the topic of discussion when conversation goes off course. For example: I'm happy to hear that you have a budget surplus this year. How would you feel about discussing adding the new vending machines to campus as a way to positively impact the student base? b. allows the customer to select from two or more options. For example: do you need real-time trading or is next-day information timely enough for your users? c. elicits more articulate and precise responses from the customer for use in needs discovery and solution identification. For example: Tell me about situations when... d. limits the customers' responses to one or two words. For example: Do you prefer the gasoline powered or electric vehicle?
c. elicits more articulate and precise responses from the customer for use in needs discovery and solution identification. For example: Tell me about situations when...
Mark Hunter in Chapter 6 of A Mind for Sales talks about measuring the percentage of leads that turn into customers. In the long-term this number should ___________ in order to show the effectiveness of your sales process. a. stay the same b. decrease c. increase d. disappear
c. increase
According to Mark Hunter in a Mind for Sales, "Sales is about helping others ________________ what they did not think was possible." a. avoid b. compete with c. see and achieve d. manipulate e. take to heart
c. see and achieve
Key to effective listening, a check list when meeting a person for the first time: a. Judge content, not delivery b. Be flexible c. Find areas of interest d. Listen for ideas e. Hold judgements until full consideration d All available choices
d All available choices
According to Mark Hunter in A Mind for Sales, these data points are important to measure for a sales representative. a. The number of calls made to find a qualified prospect. b. The percentage of time spent customer-facing. c. How much time it takes to turn the average lead into a customer. d. All available choices.
d. All available choices.
Types of buyers include the _______________ who purchase goods and services for their individual use or consumption. They are highly influenced by peer group behavior, aesthetics, and personal taste. a. Corporate Buyers b. Business Market c. Wholesale Market d. Consumer Market
d. Consumer Market
In the context of sales presentations and conversations, effective communication skills are needed in order to: a. Determine the mental state of buyers and manipulate them into believing that a product has high attributes. b. Enable salespeople to maximize profits in the short run and to develop agreement among participants. c. Allow salespeople to isolate themselves from the decision-making process of buyers. d. Identify buying needs and to demonstrate to buyers how a salesperson's proposed solution can satisfy those needs. e. Enable buyers and salespeople to reach an agreement immediately.
d. Identify buying needs and to demonstrate to buyers how a salesperson's proposed solution can satisfy those needs.
A _____________ is a person or company to whom a sales representative sells a product or service. a. Value Wedge b. Competitor c. Vendor d. Prospect e. Product
d. Prospect
_____ is a form of personal selling that requires that salespeople earn the confidence of their customers and that their selling strategy meets customer needs and contributes to the creation, communication, and delivery of customer value. a. Transaction-focused traditional selling b. The formula approach to selling c. Mental states selling d. Trust-based relationship selling e. Stimulus response selling
d. Trust-based relationship selling
The ___________ is the graphical area where your products are nearly the same as the products of your competitors. a. Value Wedge b. Functional Attribute c. Venn Diagram d. Value Parity e. Sweet Spot
d. Value Parity
The ____________attribute of a product includes the features a customer wants or the "must haves'. a. situational b. social c. psychological d. functional
d. functional The functional attribute of a product includes the features a customer wants or the "must haves'. This includes: meeting standards, operating trouble free, performing as expected, and product uniformity.
According to Mark Hunter in A Mind for Sales, if negotiation is inevitable remember to: a. All available responses. b. tell your prospect the date by which you need to close the sale, avoid discussing the negative traits of your product, and consider cutting your price. c. avoid follow-up because your prospect needs time to make a decision, spend time retelling the story of your company's success, and change your business proposition to fit your buyer's need. d. maintain your integrity, ask better questions, and quantify the value of your offering.
d. maintain your integrity, ask better questions, and quantify the value of your offering.
The recent pandemic greatly impacted our understanding of___________________, the amount of space that people feel is necessary to set between themselves and others. Sales representatives must be sensitive to this when dealing face-to-face with their prospects. a. paralinguistics b. gestures c. haptics d. proxemics e. posture
d. proxemics
According to Mark Hunter in A Mind for Sales Chapter 8, the level of _________ between both parties will determine the level of negotiation needed to make the sale. a. forethought b. professionalism c. swindling d. trust e. need
d. trust
___________ is essential for sales representatives because it helps to sense, interpret, evaluate, and respond to verbal and nonverbal messages. a. A Sales Funnel b. Presenting c. A Value Wedge d. A video meeting e. Active listening
e. Active listening
According to Mark Hunter in A Mind for Sales, the more effectively we manage our time, the more success we will achieve. Therefore, it is important to continually schedule blocks of time to: a. wait for prospects to call. b. organize the information in your sales funnel all day every Monday. c. learn and read about your industry, the economy, and the sales process. d. grow your network. e. Choices 3 and 4. f. All available choices.
e. Choices 3 and 4. c. learn and read about your industry, the economy, and the sales process. d. grow your network.
When working with buying teams there are multiple people who have influence on the buying decision throughout your prospect's organization. The ___________role controls the flow of information. a. User b. Influencer c. Purchaser d. Coach e. Gatekeeper
e. Gatekeeper
Which of the following statements is true about relationship selling? a. It is based on the principle of "doing anything to get an order." b. It focuses only on closing the sale. c. It steers clear of the concept of mutual gain. d. It focuses on the immediate benefits gained from short-term relationships. e. It involves a high level of problem-solving activity.
e. It involves a high level of problem-solving activity. Relationship selling is about more than just short-term, transactional sales. It is about building a trusting relationship with your prospective buyer and becoming a reliable sales source who is able to problem solve based on the prospect's needs.
A _________ is an article or substance that is manufactured or refined for sale. a. SWOT b. Competitor c. Value Wedge d. Prospect e. Product
e. Product
What is PROSPECTING? a. The first step in the sales process, which consists of identifying and contacting potential customers. b. The opening engagement of building a trusting relationship with the potential buyer. The Sales Representative would enter the customer data into the CRM system, in order to call on them again. c. The last step in the sales process in an effort to close the deal. d. A beneficial aspect of communicating with sales leads, but unnecessary for a successful sales representative. e. The first and second choices. f. No available choices.
e. The first and second choices. a. The first step in the sales process, which consists of identifying and contacting potential customers. b. The opening engagement of building a trusting relationship with the potential buyer. The Sales Representative would enter the customer data into the CRM system, in order to call on them again.
A productive sales approach first __________________, then illustrates how the sales organization can _________________ to the customer. a. defines the return on investment...drive revenue b. shares the product capabilities....deliver the value c. drives revenue....send the contract d. delivers the value...define needs e. defines customer needs.....deliver the value
e. defines customer needs.....deliver the value
There are several types of prospecting methods, such as: a. Cold calling b. Referrals c. Networking d. Social media e. Directories f. All available choices.
f. All available choices.
Customer Value
focus on prospect's needs, determined by customers' perceptions of what they get in exchange for what they have to give up
Personal Selling
relies heavily on interpersonal interactions between buyers and sellers to initiate, develop, and enhance customer relationships.
Business-to-Business (BtoB) Selling
salesperson or sales team interacts with one or more individuals from another organization.
