MKT 310 Final
The selling process is a sequence of ____________ steps that builds a ___________ for selling.
seven, framework
Which of the following is advice from Paul Blake, Vice President of Sales at Beasley Media Group and featured professional in the Video Ride-Along in Chapter 11?
Listen. Ask great questions. Prepare. Prepare. Prepare. Rehearse. Rehearse. Rehearse.
If you don't know the name of the hiring manager for the job for which you are applying, it's best to avoid, _________________ and do more research to find the correct name.
"To Whom it May Concern,"
Which of the following is an appropriate question to ask when an interviewer asks, "Do you have any questions?"
"What opportunities with the company exist beyond this position?"
Which of the following is included in the prospecting and qualifying step of the selling process?
Identifying prospects that are ready, willing, and able to purchase the product or service. Identifying the name and title of the decision maker.
Bianca, a sales rep for Capital Insurance, found that when she calls prospects she usually gets their voicemail. At first, she left long, detailed voicemails and didn't hear back so she moved on to the next prospect. Then, she realized that she had to ______________ because it can take _____________ to get a response from a prospect.
Be persistent, 7-10 voicemails
Tonya Murphy, Sales Executive at Pandora and featured professional in the Video Ride-Along in Chapter 9, discussed the importance of having an "I know..." statement. Why is it important?
It lets the prospect know that you have researched his/her business. It puts the focus on the prospect and his/her pain points.
Gizelle Banko, a sales rep for Curative Healthcare Products, is reviewing her current clients. She learned that the Therapy Center for the Aging has recently acquired a another healthcare facility which will increase the sales significantly. Therefore, she has categorized Therapy Center for the Aging as a ____________________
Key account
Drag and drop the following in the correct order to reflect the flow of the sales funnel.
Leads Prospects Customers
Marjorie, a new sales rep, is learning the hard way about rejection during sales approaches. She knows that she will hear "no" more than she hears "yes." It's the nature of sales. That's why she does which of the following?
Makes challenging calls at the beginning of the day
______________ is what allows you to interact with the prospect and adjust your presentation based on his/her response.
Adaptive selling
Paul Meyer, a senior sales rep at RIC Technology, always likes to be sure to deliver the _____________ so the benefits of his products and services are clear to the prospect. It also helps set him and his company apart from the competition.
Value proposition
When you create your ideal employer profile, which of the following is important to consider?
What are the most important characteristics of your ideal employer? Where is the company located? Which companies might need your skills?
Which of the following is an example of an open-ended question?
What do you think your people will say about this? Why do you think more can be done? If you could do it any way you wanted, how would you have done it?
What is a disadvantage of approaching a prospect over the phone? Responses
You don't have the benefit of body language.
The "A" in SMART referring to SMART objectives stands for "actionable." Which of the following best describes this?
You have the power and authority to take the action to achieve the goal.
Which of the following should guide the development of your personal elevator pitch?
Your brand points
______________ communicates volumes before you even begin to speak.
Your dress
When preparing for a presentation, it's a good idea to ______________ so you can the best possible outcome and take the necessary steps to get there.
Visualize the outcome
The "I" in SPIN selling represents which of the following?
Implication
If you are making a presentation to a new prospect and you are unsure of how to dress, which of the following is the best advice?
It's better to dress up than to dress down.
The Pre-Approach is important in the sales process for which of the following reasons?
It's the step during which you do your homework about the prospect to identify his/her needs and pain points.
What is the best way to deal with gatekeepers?
Build a relationship with them.
Daniel Everett, a sales rep for heavy equipment manufacturer DH Tractors, asked his prospect, "How much would you save every year if you would reduce downtown by 50 percent?" This is an example of which type of question?
Need-payoff
Ira works as a sales rep in the home theater department at Best Buy. Because the majority of his prospects come into the store, he doesn't have the opportunity to do any research about them before he approaches them. In this case, which of the following are correct about an effective approach?
Treat your prospect like a guest. Talk to the prospect and ask questions about his/her needs.
"My name is Roy Masters. I'm a senior at Western University and I'm a marketing major with a communications minor. I've had three internships, including one at PayPal where I was a member of a team that conducted research about consumer purchasing habits and payment preferences. I was chosen to present our findings to the executive team." What is missing from this personal elevator pitch?
What he wants to do after graduation
Paul Blake, Vice President of Sales at Beasley Media Group and the featured professional in the Video Ride-Along in Chapter 11, says the following about the sales presentation - it's not about _____________; it's about _____________.
What's important to you, What's important to your prospect
A B2B buyer persona always includes which of the following?
Which social media platforms the prospect uses Name of decision maker Pain points of the prospect Name of influencers
According to Tonya Murphy, Sales Executive at Pandora and featured professional in the Video Ride-Along in Chapter 10, what is the most important thing you need to communicate during your sales approach?
Who you are, why you are calling, and what that means to your prospect
In the real estate industry, it's rare to have _______________
A one-call close
Why are referrals so valuable?
A referral carries an implied endorsement. A referral is the most powerful form of advertising. A referral is a reflection of a happy customer. A referral makes it easier to approach the prospect.
The pre-approach is when you take your research about a prospect to the next level. When you identify a prospect that meets your qualifying standards, it is called
A target account
When you follow-up after a job interview with _____________, you can extend your personal connection with your interviewer and demonstrate your business etiquette.
A thank-you note
Simon Coleman, a sales rep for Microsoft, is making a presentation to his prospect, Angela Carson, about Microsoft cloud computing services. After his presentation, Simon asked Angela, "How do you feel about moving your organization to the cloud?" This is an example of ____________
A trial close
Which of the following is true about a sales presentation?
Always define value in customer terms.
Michelle Li is a sales rep for PacNW Solar Energy. She always includes ______________ in her sales presentations; the return (profit or cost savings) as a percent of the initial investment.
An ROI analysis
Which of the following is true about the approach?
An approach should always be personal. Body language can have a significant impact on your approach. It's important to focus on what you communicate and how you communicate it.
_______________ is one of the most important challenges you will face early in a sales call.
Building credibility
The Atlanta Business Chronicle is an example of a _______________
Business journal
"Stacey Fisher is the buyer of women's footwear at Macy's. She has been in the role for over ten years so she knows what she wants. She has a great eye for fashion and knows what her customers want. She likes to take risks with new styles to signal that Macy's is on trend with fashion. That's why she always reads Women's Wear Daily. But, she is cautious about managing inventory so she doesn't always buy a lot of new styles." This is an example of which of the following?
Buyer persona
A ____________ is used to better understand the target market on a deeper and more personal level.
Buyer persona
In which of the following environments might a sales approach take place?
Check all
Which of the following is a resource to use when compiling your list of 25 target companies for your job search?
Check all
Which of the following might have been the result of design thinking?
Check all
Which of the following resources should be a part of pre-approach research?
Check all
Which of the following should you do the night before a presentation?
Check all
Which of the following should you include in your personal elevator pitch?
Check all
Which of the following is often considered one of the least effective methods of prospecting?
Cold calling
"You can perform multiple tasks from one screen," Marty said at the trade show during his approach. Then he continued by saying, "This allows the users to save time and frees them up to do higher-level activities. It's a great way to motivate employees and help lower costs." What type of approach is this?
Combination
Which of the following should be used to qualify prospective employers for your job search?
Company websites Company news Online reviews from employees Financial performance of the company
Indicate which of the following is a SMART objective.
Complete all homework assignments at least 24 hours before the due date.
Drag and drop the correct description to each of the six Cs of selling.
Confidence -> A salesperson knows her product inside and out. Customization -> A salesperson focuses on the specific needs of the prospect; one approach does not fit all. Communication -> A salesperson focuses not only on the what but the how. Collaboration -> A salesperson focuses on what the prospect wants. Credibility -> A salesperson demonstrates that he/she has does his/her homework about the prospect. Credibility -> A salesperson makes it personal
Van Franklin, a sales rep for Excellent Medical Equipment, was making sales presentations but none of his prospects would make a purchase. His sales manager told him he needed to connect with his prospects in a deeper, more personal way. His sales manager suggested which of the following?
Create a buyer persona
It's important to understand your B2B prospect's _______________ because it will help you tailor your solution to your prospect.
Customer demographics
Sheila Watts, a sales rep for Naturalle Beverages, wanted to convince her prospect that it was worth it to drop Coke and Pepsi products from his restaurant and offer Naturalle Beverages instead. Although she provided all the product specs (100 percent natural and organic ingredients) and costs (fountain machines, servicing, and product), she felt that she needed a way to break through. That's when she called upon her storytelling skills with ______________ to help him see results beyond just the facts and figures she had told him.
Customer testimonials
Indicate which of the following you should do prior to an interview or things that are not important to do prior to an interview.
Do prior to interview -> Have your clothes tailored to fit, Lay out your clothes and accessories the night before, Have a list of the names and titles of the people with whom you will be meeting, Have specific directions, including building and floor number of the location of the interview. Not Important to Do Prior to Interview -> Have your references ready to hand to your interviewer.
Leroy, a sales rep, was preparing for a sales presentation to a new prospect. He always likes to be prepared. That's why he always _____________, a run-through of the scenario step-by-step in his mind.
Does a mental rehearsal
Markena, a sales rep, is making an approach in person to a prospect that has been on her target account list for a while. The office is business casual. She's not sure how to dress; she doesn't want to be overdressed, but she wants to signal credibility, authority, and respect. Which of the following is the best advice for Markena?
Dress 25 percent better than the people in the office.
A(n) _______________ is a concise description of a product or service that starts a conversation.
Elevator pitch
______________ is one of the most efficient and least expensive ways to get in touch with a large number of prospects, however, it has a relatively low success rate.
Drag and drop the phases of design thinking in the correct order.
Empathize with your prospect. Define your prospects needs or pain points. Ideate. Prototype. Test.
Which of the following is not important to know as part of your Pre-Approach research?
Employee handbook
Which of the following might help you "push beyond the wall" when brainstorming?
Expand your search with new lines of thinking or random words. Walk away from the problem for a while. Look at the problem from a different perspective. Reach out to others to get a fresh perspective, even people that are not familiar with the prospect's business.
Which of the following will help your job search?
Find a mentor. Send your resume to a hiring manager with something that will make you stand out, like an idea board or copy of work samples. Reach out to professors and professionals you trust to write a recommendation on LinkedIn. Apply for jobs posted online, especially on specialized job boards.
Identify which is a general benefit statement and which is a specific benefit statement.
General Benefit Statement -> If you are looking to attract Millennials, this app is a proven tool, I have an idea that can help you reduce your emissions significantly over the next five years, This cloud storage can not only supplement your disaster recovery plan, it can also make your sales team more effective because they can access information from anywhere Specific Benefit Statement -> This software will reduce your order processing time by one day, This remote vending machine can double your sales
Naseem Patel, a sales rep for IPA Brewing Company, was preparing for her pre-approach to her prospect, Jake Gerrand, VP of Beverages at Outback Steakhouse. She decided that the best time to use the _________________ she was developing was during the approach.
General benefit statement
When you are approaching a prospect in person and you want to establish credibility, you would do which of the following?
Get to the point. Briefly explain the purpose of why you are meeting. Make eye contact and shake hands with a firm handshake.
Miley thinks she wants a career in advertising so she ______________ to give her some experience and help her see if this is the path she wants to pursue.
Got an internship
Which of the following should you do prior to a presentation?
Have a technology back-up plan. Rehearse using the technology. Gather all samples, brochures, and handouts the night before. Plan to arrive early.
"Are you happy with your current internet service?" is an example of which type of approach?
Question
Indicate which of the following you should include in your personal elevator pitch.
Include in Personal Elevator Pitch -> Who you are, What you want to do, What you have done in the past to deliver value Don't Include in Personal Elevator Pitch -> Your hobbies, Where you went to high school
The heart of SPIN selling is ____________ - asking questions to uncover your prospect's needs.
Investigation
If you were prospecting and wanted to find all of the companies within a specific industry, you would use _________
NAICS
Drag and drop the questions to match the appropriate description.
Need pay-off questions -> How much do you think you could save if you had a 24/7 monitoring service? Implication questions -> How much time and money would you say any downtown costs? Problem question -> What is your current process for handling a system failure? Situation question -> How many employees are one the payroll?
Ulanda is a new sales rep at Peachtree Trading, an import/export company. Which of the following should she do as part of her prospecting efforts?
Network in the industries in which her target customer operates. Cold calling. Create a description of the ideal target customer. Do research about companies online.
Indicate which of the following is a good source of prospecting for a salesperson.
Not a Good Source of Prospecting - Working on a proposal Good Source of Prospecting - check the rest
Which of the following is not an activity that should be included in brainstorming?
Only involve people in brainstorming that are familiar with the prospect's business.
Rohn is a sales rep for Champion Pest Control. His prospects include small businesses of all kinds (salons, restaurants, law firms, etc.) in a specific geographic area. He has a lot of prospects to approach so he decided to use email. Which of the following are important to keep in mind for effective email approaches?
Personalize each email and tailor it to the type of business. Follow up persistently.
Drag and drop the correct definition for each term.
Pre-approach -> Doing homework to identify a prospects needs. Follow-up -> Earning the customers trust by delivering on promises made. Handling objections -> Answering questions or concerns a prospect has about the product or service. Closing the sale -> Agreeing on terms and finalizing a transaction. Prospecting -> Identifying possible customers Qualifying -> Determining if a possible customer is ready, willing, and able to buy. Presentation -> A salesperson outlines his/her solutions to the customer. Approach -> The first few minutes of a sales call in which a salesperson talks about how he/she can deliver value.
During the ____________ step, the salesperson does his/her homework to identify the prospect's need and determine his/her ____________
Pre-approach, pain points
Sandra, a software sales rep, was planning her approach for Wendall, the office manager at a law firm. During her pre-approach research she learned that Wendall is a visual learner and prefers to see things rather than talk about them. This led her to which type of approach?
Product
Drag and drop the correct example to match each type of approach.
Question approach -> "How long does it take to download a movie?" Customer benefit approach -> "The LED lights last for 10,000 hours which reduce your costs significantly." Product approach -> "Pick it up to see how light it is." Referral -> "Marissa Langhorne suggested I reach out to you."4 Agenda approach -> "Lets talk about energy savings then style."
A(n) ___________ is a formal request from possible suppliers to provide or create a specific product or service.
RFP
After making your presentation and successfully closing, it's always a good idea to _____________ at the end.
Recap the meeting
Indicate which of the following is a SMART objective or not a SMART objective.
SMART objective -> Schedule a follow-up meeting with a product specialist by the end of the sales call, Confirm the name of the prospect's current supplier by the end of the sales call, Confirm the names and titles of the decision maker and influencers by the end of the sales call Not a SMART Objective -> Sell the product or service, Increase sales with this existing customer
The four components of the SPIN process—opening, investigating, demonstrating capability, and gaining commitment - might happen ______________ and in a short period of time in a smaller sale. However, in most __________, a sales rep might incorporate SPIN components into a number of steps throughout the selling process.
Sequentially, B2B
Drag and drop the following into the correct order.
Situation Problem Implication Need pay-off
Ashley, a real estate agent, asked her prospect, "What are the three most important things you want in your next home?" This is an example of which of the following?
Situation question
When you are preparing to approach a prospect by phone, which of the following should you do?
Smile. Have your calendar, fact sheets, and other relevant materials handy. Clear your desk. Stand up.
Drag and drop the phases of design thinking in the correct order.
Stay focused on generating ideas around one objective. Focus on quantity of ideas, not quality of ideas. Generate ideas from different perspectives. Encourage non-traditional ideas.
Which of the following can be good sources of job leads?
Talking to your professors Informational interviews Networking Joining a professional organization
A ______________, which is a new, qualified prospect, is different from a ______________, which is an existing customer who is or has the potential to be a significant source of sales.
Target account, key account
Caleb Woodson has an interview with the largest manufacturing company in the region. He plans to research ______________ and ______________ to be prepared for the interview.
The company, the interviewer
Your cover letter and resume should always be addressed to _______________
The hiring manager
Which of the following is true about existing customers?
They are the best source of referrals. It costs 5 to 20 times more to attract a new customer than to keep an existing one.
According to Priya Masih, pharmaceutical sales rep at Lupin Pharmaceuticals and professional featured in the video in Chapter 9, "preparation is essential." According to Priya, your thorough preparation for a sales call or job interview allows you ___________________
To make a strong first impression
Bridgett Bradsky, a sales rep for GetAway Travel, is prospecting and wants to know which travel destinations are most popular among Millennials so she consulted the U.S. Travel Association. This association is an example of which of the following?
Trade association
Drag and drop the correct example of each of the sources of prospecting.
Trade show -> Consumer Electronics Show Trade publication -> Advertising Age Business database or directory -> Standard and Poor's Trade association -> American Bar Association
Which of the following should be included in a B2B buyer persona?
Type of company Where the target prospect gets information Decision maker name and title Influencers in the buying decision
Jordan, a sales rep for Sweet Street Desserts, was working at the company booth at the National Restaurant Show. She approached prospects with free samples of the newest matcha cheesecakes so she could start a conversation. This is an example of the _______________ approach
premium