Ch.2 Connect
If a salesperson determines that a customer does not need the product that the salesperson is selling, then the salesperson should find a way to convince the customer that a need exists (even though it doesn't).
false
Potential buyers who submit their contact information via a website are classified as cold leads.
false
A salesperson with a farming orientation tends to _________.
focus more on selling to existing customers by building long-term relationships
A salesperson with a _______ orientation tends to focus more on securing customers through lead generation, prospecting, pre-call planning, and delivering sales presentations.
hunting
A(n) _______ profile is a profile of organizational characteristics shared by current highly desirable customers.
ideal customer
Those who believe that salespeople should generate as many leads as possible argue that ________.
identifying good prospects requires a large number of leads
Suppose you have seen an advertisement for a new herbal supplement that you wish to buy. You find the company's website and contact one of its salespeople asking if you can place an order for the supplement. The company will classify you as an _______ lead.
inbound
When a sales organization wishes to decrease the amount it spends on travel while creating a better division of labor among its salespeople, it may decide to use a(n) ________.
inside sales force
Prospect ______ refers to the process through which salespeople rank-order prospects based on their desirability.
prioritization
A quota is a quantifiable _______ for a given period.
sales goal
Which of the following pieces of advice should you follow as you build your personal brand on LinkedIn? There is more than one correct answer.
-Attempt to connect with people on a personal level. -In your invitation, include details relating to the potential benefits of establishing an online relationship with you. -Join LinkedIn groups that include existing and prospective customers.
From the following list, identify the buyer-related questions that the salesperson should address when planning a sales call.
-Does the buyer favor individualistic or collective decision making? -What personality characteristics does the buyer exhibit? -How long has the buyer been with the organization?
To which of the following questions must a salesperson answer "yes" to qualify a lead as a prospect? There are several correct answers.
-Does the lead have a need for our product or service? -Does the lead have the ability to purchase our product or service? -Does the lead have a buying approach that aligns with our selling approach? -Does the lead have the authority to purchase our product or service? -Does the lead have the potential needed to justify an organizational investment?
Which of the following are characteristics of a prospect? More than one answer may be correct.
-It demonstrates a need for the product or service being offered. -It demonstrates both organizational potential and purchasing alignment. -It possesses the ability and authority to purchase.
In the following list, select all the items that are benefits of traditional networking.
-It is valuable method of generating leads. -It helps people promote awareness of themselves and their company.
From the following list, select all the reasons why salespeople may be hesitant to prospect.
-Prospecting takes too much time away from existing customers. -Rejection is demoralizing and can exact a heavy emotional toll.
From the following list of statements, select all that are true of cold calls.
-They are unsolicited calls or visits by a salesperson. -Sales organizations use them to identify potential new customers. -To increase overall sales force efficiency, many organizations use inside salespeople to handle cold calls.
From the following list, select all the statements that are true of prospecting.
-Through prospecting, salespeople identify and engage with new customers. -In prospecting, salespeople may talk about new areas of the business with existing customers. -Prospecting is not easy and is rife with rejection.
From the following list, select all of the items that are benefits of using an inside sales force.
-Using an inside sales force in combination with an outside sales force often allows for a better division of labor. -An inside sales force can be extremely cost efficient. -Inside sales reps can interact with a large number of customers without the expenses typically associated with travel.
From the following list, identify the organizational-level questions that salespeople should address when planning a sales call.
-What marketplace challenges may be affecting the customer? -Whom does the customer compete against? -Does the customer have a history of purchasing in the product or service category offered by the selling firm?
From the following list, select all the questions that a good prospecting plan should address.
-What percentage of my existing customer base might I lose through attrition? -On which prospects do I anticipate focusing my efforts? -What percentage of business do I anticipate earning through new customers? -What resources do I need to transition my prospects into customers?
From the following list, select all the statements that explain why prospecting is important to salespeople.
-Without it, the organization would cease to exist. -It produces a continuous flow of organizational customers and business opportunities. -It is the lifeblood of the sales organization.
Which of the following are the four key ethical standards to which salespeople should adhere throughout the prospecting process?
-honest information about competitors -factual communications about realistic promises -proper use of the referral process -honesty in terms of whether a need truly exists
Which of the following are the four types of questions in the SPIN sales methodology?
-situational -need-payoff -implication -problem
During the prospecting process, it is essential to provide prospects with accurate information about which of the following? More than one answer may be correct.
-the company's products and services -the competition
Place the steps in the prospecting process in order from first to last.
1. Lead generations 2. lead prioritization 3. lead qualification 4. prospect prioritization 5. call planning
Sales leaders have begun differentiating sales roles based on activities performed to permit a focus on which two key activities?
-customer retention -customer acquisition
Place the four steps of developing a prospecting strategy in order, from first to last.
1. develop a prospecting plan 2. allocate adequate time to the prospecting process 3. track results 4. evaluate lead-generation methods and overall prospecting success
The most important social platform for business networking is ______.
your________toward a job plays a critical role in determining how well you perform in that job.
attitude
Which company executive is tasked with driving company revenues while ensuring coordinated efforts between salespeople and marketers?
chief revenue officer (CRO)
A _______ lead has yet to demonstrate any interest in the product or service being offered.
cold
A _______ is an unsolicited visit or call by a salesperson.
cold call
The process of developing a successful prospecting strategy begins with ______ and ends with ______.
developing a prospecting plan; evaluating overall prospecting processes
To ensure an adequate focus on customer acquisition and retention at the organizational level, sales have begun ______ sales roles based on the activities performed.
differentiating
The key to networking and building relationships with noncompeting salespeople is to ________.
engage in a reciprocal relationship in which both salespeople share leads with each other
Which type of lead is an individual or organization that has shown some interest in the product or service being offered?
hot lead
Which role do inside salespeople typically perform?
They contact potential customers and engage in an initial qualifying conversation.
According to GrowthPlay's assessment terminology, account managers tend to _______.
focus on strengthening existing customer relationships
The costs associated with doing nothing are called _______ costs.
opportunity
The keys to successful prospecting are ________.
persistence and consistency
A _______ is a quantifiable sales goal for a given time period.
quota
Which of the following explain why attrition occurs? More than one answer may be correct.
-Customers may cease operations in the category the salesperson sells in. -Customers may go out of business. -Customers may be dissatisfied.
The SPIN call-planning template requires salespeople to think through which four of the following?
-anticipated questioning strategy -customer-oriented purpose statement -primary and alternative call objectives -relevant organizational capabilities
Which of the following is a key challenge associated with prospecting?
It is easier for a buyer to do nothing than to do something.
A sales _______ is an individual or organization that exhibits characteristics similar in nature to those exhibited by current customers.
lead
The prospecting process begins with _______ and ends with ______.
lead generation; call planning
In sales, the term attrition refers to the _________.
loss of existing customers
One school of thought suggests that it's better to be effective at the various steps of the prospecting process than to simply load the funnel with as many leads as possible at the top. This approach is efficient, but it requires ________.
more skill on the part of the salesperson
The term _______ refers to activities through which individuals strengthen their social and professional relationships.
networking
According to GrowthPlay's terminology, _______ uncover new opportunities, promote company offerings, focus on prospect conversion processes, and expand coverage beyond the existing customer base.
new business developers
When marketers and salespeople experience conflict, the best solution is usually _______.
open communication
Suppose you work for a publishing company. A printer contacts you and attempts to sell you typesetting, printing, and binding services. The printer will classify you as a(n) ______ lead.
outbound
Referrals are extremely beneficial in sales because _______.
potential customers are typically more receptive to salespeople who are reaching out based on the suggestion of another customer
Salespeople need to differentiate their leads based on the leads' _________.
potential to ensure a good return on the salesperson's time invested with them
At the core of lead prioritization is a company's desire for _________.
profit
A(n) _______ demonstrates a need for the product or service being offered, has the authority and ability to purchase, and demonstrates both organizational potential and purchasing alignment.
prospect
Which term refers to the process through which salespeople rank-order prospects based on their desirability?
prospect prioritization
_______ is the process through which salespeople identify and engage with new customers or areas of business with existing customers.
prospecting
In the absence of a ________ __________, it is unlikely that a salesperson will do what is required to acquire new business.
prospecting plan
An ideal customer profile allows salespeople to give highest priority to _________.
prospects that are similar to the firm's current most highly desirable customers
What type of lead is provided by an existing customer, based on a belief that the potential buyer may benefit from the products or services provided by the selling firm?
referral
The key purpose of evaluating lead-generation methods and prospecting processes is to _________.
refine the overall process for interacting with potential new customers
It is essential to maintain a positive attitude throughout the prospecting process because _________.
rejection rates are high, even for experienced salespeople
The key to mastering an overall process for interacting with potential new customers is ________.
repetition
The inside sales reps who are tasked with generating sales leads are sometimes called _________.
sales-development representatives
Which of the following is a tried-and-true method of building a relationship to a center of influence and gaining access to a larger group?
sponsoring an event
Which industry-specific events bring together selling companies and customers in the same physical location?
trade shows
In recent years, the use of inside sales forces has grown significantly.
true
There is a bond among salespeople, particularly those who do not compete directly against each other.
true
Traditional sales meetings are conducted _________.
via phone or onsite at the customer's place of business
networking refers to online activities that are intended to strengthen a person's professional and/or social relationships.
virtual
When we say that prospecting is the lifeblood of the sales organization, we mean that ________.
without a continuous flow of new customers, the organization would cease to exist
Which professional organization was created as a support mechanism for inside salespeople and now has over 12,000 members in 60 chapters that span the globe?
American Association of Inside Sales Professionals
Which one of the following statements is true of sales leads who initiate contact through a sales website?
These leads tend to be significantly advanced in their decision-making process.
Overall, how do today's salespeople feel about sales directories?
They find that conversion rates for these lists are quite low and prefer to use technology to compile their own lists.
A _______ is someone who is both connected to and respected by a group of prospects.
center of influence
The avoidance of customer interactions when prospecting is called __________.
call reluctance
