Chapter 9 study plan

Which of the following terms refers to the cold call method of​ summarizing, in a​ 30-second message, what you want people to know about​ you, your​ company, and your product​ line?

Elevator presentation

​__________________ refers to the art of making and using​ contacts, or people meeting people and profiting from the connection.

Networking

​________ is the lifeblood of selling.

Prospect identification

Which of the following terms refers to a prospect that has been recommended by a current customer or by someone familiar with the​ product?

Referrals

​_______________ data is the prospect information seen in most CRM​ systems, including the contact​ name, title,​ address, phone​ number, e-mail, and any past purchases.

Sales

_______________ goes beyond​ data, providing the salesperson access to insights into the​ prospects' marketplace, their​ firm, their​ competitors, even about the prospects themselves.

Sales intelligence

​________ is the type of information that goes beyond sales data such as the​ marketplace, a​ prospect's company, and even the prospects themselves.

Sales intelligence

Salespersons and sales managers often conduct​ a(n)________ analysis to help them effectively and efficiently manage the prospect or account database.

account

To effectively and efficiently manage the prospect or account​ base, salespersons often conduct​ a(n) _______________ analysis to estimate the sales potential for each prospect.

account

In​ business-to-business (B2B)​ selling, the process of identifying potential customers is referred to as​ __________________________.

account development

Salespersons and sales managers often conduct​ ________ analysis to help them effectively and efficiently manage the prospect or account database.

an account

Identifying prospect​ needs, authority to​ buy, financial resources to​ buy, and willingness to buy are fundamental to​ ___________________________.

basic qualifying criteria

Companies such as​ Salesforce.com, Oracle,​ NetSuite, Sage, and Microsoft offer software applications designed to​ _____________________.

collect and organize prospect information

When a salesperson identifies and develops potential​ customers, it is an important part of​ the ________.

customer strategy

​Often, the type of leads known as referrals result​ in________________.

higher close​ rates, larger​ sales, and shorter sales cycles

The type of information that the salesperson can use to turn prospects and accounts into​ long-term customers includes​ ________.

knowing more about the customer than just name and​ title; knowledge about the​ prospect's company and​ marketplace; and knowing how to bring​ value-adds to them

Many sales organizations link the qualifying process with the​ ___________ in the consultative sales process.

need discovery step

According to Gerhard​ Gschwandtner, publisher of Selling​ Power, the main purpose of a salesperson is​ ________.

not to make​ sales, but to create customers

The process of managing all the prospects in the​ salesperson's sales funnel is called​ ________management.

pipeline

Salespersons are often tasked with determining which sales strategies to use. The two popular models of analysis they use are the​ ________.

portfolio model and the sales process model

An excellent way of​ identifying, locating, and profiling your prospects is to analyze your​ ________.

product and current customers

The evaluation and qualifying process is normally the first opportunity salespeople have to consider​ ________.

prospect needs and how they match with your product characteristics

In the terminology of personal​ selling, the process of identifying and developing potential customers is referred to as​ ____________________ in​ business-to-consumer (B2C) selling.

prospecting

You​ identify, locate, and profile your​ ___________ by analyzing your product and current customers.

prospects

The ability to​ ________ is one of the most important keys to success in personal selling.

qualify leads

Prospecting techniques produces a list of names that must be evaluated using criteria developed by each salesperson. The process of prospect evaluation is called​ ________.

qualifying

Common methods of collecting and organizing prospect and account information include​ ________.

sales force automation systems or customer relationship management systems​ (CRMs)

The​ __________________, also referred to as​ "sales funnel​ model," classifies prospects based on where they are in the sales process.

sales process model

​Prospect, Qualified, Need​ Analysis, Presentation,​ Negotiations, and​ Closed/Service are six steps included in the​ ______________________.

sales process model

The type of leads that result in the highest close​ rates, largest​ sales, and shorter sales cycles are leads​ ________.

that have been referred

An important aspect of​ ________ is identifying and developing potential customers.

the customer strategy