MARK 3337 Chapter 9

1) The process of qualifying prospects includes answering all of the following questions EXCEPT: A) Is this the senior executive? B) Does the prospect have a need for my product? C) Can the prospect make the buying decision? D) Can the prospect pay for the purchase? E) Does the prospect have the desire to make the purchase?

A

11) Estimating the potential sales volume that might be generated by each new account is part of developing: A) a prospecting and sales forecasting plan B) a sales analysis C) the target market D) a referral list E) analytic software

A

16) To increase the odds that customers will give referrals, a salesperson should: A) build value into the sales process B) offer free product or discounts for referrals C) motivate buyers through time pressure D) provide a rational buying motive E) ask sales managers for permission to cut prices

A

21) The term "social network" refers to: A) your set of direct and indirect contacts B) your set of direct contacts C) your set of indirect contacts D) an industry affiliation group E) an industry research group

A

26) CRM software is useful for all of the following reasons EXCEPT: A) customer information can be shared with competitors B) customer information is available to many people in the company C) customer information is located centrally D) customer information is available instantly E) customer information can be changed in real time

A

6) 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. B) Reduce the number of prospects who board the "Ferris wheel." C) Avoid the temptation to develop quality standards that might interrupt the steady supply of prospects. D) Increase the use of telemarketing to identify prospects. E) Make more cold calls to increase the volume of the pipeline.

A

12) Which of the following is true regarding prospecting at trade shows? A) It is hard to identify prospects. B) It is easier to identify good prospects and close sales at a trade show. C) It is costly because it is hard to close sales for trade show prospects. D) It requires over five sales calls to close a sale from trade show prospects. E) Trade show prospects are less motivated to buy than are other prospects.

B

17) The portfolio model of classifying prospects involves: A) assigning each prospect a rating B) using multiple factors to classify prospects C) determining where a prospect is in the sales process D) using a sales forecast to predict which prospects will buy E) using external industry research

B

2) A typical company will lose approximately what percent of its customers every year? A) 5 to 10 B) 15 to 20 C) 25 to 30 D) 35 to 40 E) 45 to 50

B

22) A key concept in networking is to: A) follow up with every person you make contact with B) select who you will follow up with based on their usefulness C) send an email to every contact D) follow up on all emails with a phone call three days later E) keep track of your contacts in CRM software

B

27) Sales intelligence involves answering all of the following questions EXCEPT: A) Do you know me? B) Do you know your product? C) Do you know my company? D) Do you know my marketplace? E) Do you have an special value add-on?

B

7) Which one of the following is a guideline for effective networking? A) Limit the number of people you meet in a given setting. B) When you meet someone, tell the person what you do. C) Follow up on every contact. D) Don't hesitate to do business while networking. E) Only offer a business card if the other person asks for it.

B

13) At-a-glance visualizations that define, monitor, and analyze the relationships existing in the pipeline or sales funnel are referred to as: A) sales forecasts B) pipeline analytics C) pipeline dashboards D) regression models E) commission reports

C

18) The sales funnel model of classifying prospects involves: A) assigning each prospect a rating B) using multiple factors to classify prospects C) determining where a prospect is in the sales process D) counting all prospects equally E) asking directed questions

C

23) Cold calling can be an effective technique for reaching: A) decision makers B) senior executives C) potential prospects D) buying centers E) qualified leads

C

28) A downside to focusing too much effort on prospects with little potential is: A) the pipeline may become hard to keep track of without CRM software B) managers may assign some prospects to other salespeople C) too little resources are available to focus on prospects with high potential D) a salesperson may forget customers' names E) sales commissions may max out the compensation plan

C

3) Mackay, CEO of Mackay Envelope Corporation, instructs his salespeople to develop a customer profile containing how many questions? A) 126 B) 86 C) 66 D) 46 E) 16

C

8) 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? A) Middle Market Directory from Dun and Bradstreet B) Directory of Corporate Affiliations from Macmillan C) Data reports published by U.S. and Foreign Commercial Service D) Standard and Poor's Corporation Records Service E) Your local Chamber of Commerce directory

C

14) Which of the following is true regarding doing business in Germany? A) Germany has been described as a "high context" culture. B) Dinner is the most common meal for business meetings. C) Flashy brochures will have more impact than statistic-filled ones. D) There is a strong emphasis on punctuality. E) Non-verbal communication is more important than the words used to communicate.

D

19) Educational seminars can be a good source of prospects because: A) people who pay for a seminar will buy product B) salespeople need help doing demonstrations C) more than half of the people who attend seminars will become customers D) they allow you to educate prospects about your product E) you can build a close into the keynote speech

D

24) Salesforce.com is a leading provider of: A) industry research B) placement of salespeople C) product development research D) CRM software E) payroll software

D

29) A prospect list from a CRM database is likely to include all of the following information EXCEPT: A) the date the sale will close B) the likelihood of closing C) the dollar amount of the sale D) the manager's bonus on the salesperson's commission E) the forecasted amount of the sale

D

4) 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) networking B) mail inquiry C) cold canvass D) referral E) trade show

D

9) Which of the following is a true statement regarding prospecting? A) Personal observation is an unlikely prospecting technique. B) Cold calling prospecting is a systematic approach to identifying prospects. C) Salespeople should not use friends and acquaintances as a source of prospects. D) A salesperson cannot afford to spend time calling on persons who are not legitimate prospects. E) Networking should be avoided as a source of prospects.

D

10) Networking, as it applies to the field of selling, is a method of prospecting: A) with the telephone B) popular only in the telecommunications field C) which is seldom used today D) that is of dubious ethics E) that relies on making contacts with people and profiting from the connection

E

15) A well-connected person who may not make the buying decision but who may have an impact on the person who does is a: A) gatekeeper B) referral C) prospect D) target market E) center of influence

E

20) Networking outside of a salesperson's industry is largely: A) meaningless B) time-consuming C) fruitless D) neutral E) beneficial

E

25) The responsibility for entering customer information and contact records into the CRM database usually belongs to: A) the customer B) the office manager C) the data entry clerk D) the sales manager E) the salesperson

E

30) A "balanced funnel" involves: A) aggressively eliminating non-productive leads B) combining technical sales with product sales C) entering prospects from an even balance of industries D) entering the "Ferris wheel" simultaneously E) having prospects at many different stages of the sales cycle

E

5) A major barrier to prospecting is time. Therefore, salespeople should: A) try to avoid spending time available for actual selling on prospecting B) try to spend at least 50 percent of every week on prospecting C) get involved in prospecting only after completion of all regular selling activities D) assign prospecting to lower-level employees E) integrate some prospect identification with regular selling duties

E