Chapter 9 Questions Exam 2 Marketing

1) The process of qualifying prospects includes answering all of the following questions EXCEPT:

A) Is this the senior executive? Answer: 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. Answer: 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 Answer: A

16) To increase the odds that customers will give referrals, a salesperson should:

A) build value into the sales process Answer: A

26) CRM software is useful for all of the following reasons EXCEPT:

A) customer information can be shared with competitors Answer: A

21) The term "social network" refers to:

A) your set of direct and indirect contacts Answer: A

2) A typical company will lose approximately what percent of its customers every year?

B) 15 to 20 Answer: B

27) Sales intelligence involves answering all of the following questions EXCEPT:

B) Do you know your product? Answer: B

12) Which of the following is true regarding prospecting at trade shows?

B) It is easier to identify good prospects and close sales at a trade show. Answer: B

7) Which one of the following is a guideline for effective networking?

B) When you meet someone, tell the person what you do. Answer: B

22) A key concept in networking is to:

B) select who you will follow up with based on their usefulness Answer: B

17) The portfolio model of classifying prospects involves:

B) using multiple factors to classify prospects Answer: B

3) Mackay, CEO of Mackay Envelope Corporation, instructs his salespeople to develop a customer profile containing how many questions?

C) 66 Answer: 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?

C) Data reports published by U.S. and Foreign Commercial Service Answer: C

18) The sales funnel model of classifying prospects involves:

C) determining where a prospect is in the sales process Answer: C

13) At-a-glance visualizations that define, monitor, and analyze the relationships existing in the pipeline or sales funnel are referred to as:

C) pipeline dashboards Answer: C

23) Cold calling can be an effective technique for reaching:

C) potential prospects Answer: C

28) A downside to focusing too much effort on prospects with little potential is:

C) too little resources are available to focus on prospects with high potential Answer: C

9) Which of the following is a true statement regarding prospecting?

D) A salesperson cannot afford to spend time calling on persons who are not legitimate prospects. Answer: D

24) Salesforce.com is a leading provider of:

D) CRM software Answer: D

14) Which of the following is true regarding doing business in Germany?

D) There is a strong emphasis on punctuality. Answer: 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?

D) referral Answer: D

29) A prospect list from a CRM database is likely to include all of the following information EXCEPT:

D) the manager's bonus on the salesperson's commission Answer: D

19) Educational seminars can be a good source of prospects because:

D) they allow you to educate prospects about your product Answer: D

20) Networking outside of a salesperson's industry is largely:

E) beneficial Answer: 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:

E) center of influence Answer: E

30) A "balanced funnel" involves:

E) having prospects at many different stages of the sales cycle Answer: E

5) A major barrier to prospecting is time. Therefore, salespeople should:

E) integrate some prospect identification with regular selling duties Answer: E

10) Networking, as it applies to the field of selling, is a method of prospecting:

E) that relies on making contacts with people and profiting from the connection Answer: E

25) The responsibility for entering customer information and contact records into the CRM database usually belongs to:

E) the salesperson Answer: E