MKT 4200 Test 2
four dimensions of sales call anxiety
1. recognition of the economic value of prospecting activities 2. 3. 4.
When Do buyers raise objections?
After the sale, when the sales person seeks commitment, when the salesperson seeks an appointment, during the presentation
sometimes prospects are reluctant to state or may hide their real objections, what should the sales person do when faced with such a situation?
Ask probing questions and attempt to "smoke out" real objections
obtaining precall information true
At some point the amount of time and effort required to collect additional information exceeds the potential value of that information, often the difference in making to not making a sale is the homework the sales person has done, the more information the salesperson has, the more likely the prospect's needs will be met, a salesperson calling on a regular customer should collect additional information as the relationship progresses
"The model 107 electric nail gun will reduce the amount of time a crew spends roofing a 3,00 square foot home by 30%, enabling you to lower your labor costs and bid more effectively for business" This statement is an example of the BLANK opening
Benefit
Salespeople can strengthen their presentations by showing prospects the value of making a purchase. a method of applying this technique, also known as quantifying the solution is:
Cost benefit comparison, return on investment, net present value, payback period
An example of a good sales call objective for the first appointment if a product requires a large capital investment (product is expensive
Get the prospect to identify all members of the firms buying center
Planning your sales calls offers a number of advantages. What is not generally considered an advantage?
It ensures that you will actually achieve call objecctives
Planning your sales calls offers a number of advantages. What are advantages?
It increases your confidence, saves time for your buyer, saves time for you, it helps avoid annoying your prospect
Minimum Call objective
Laura's goal for an upcoming sales call is to sell Murphy's Hardware five 22 inch cut self propelled lawn mower, she's willing to accept an order for three. if possible shed like to get the owner to order 15 mowers, display them in the store window, and use a discounted promotional price. the sale of three mowers in lauras
A buyers comments are often the best indications that he is considering commitment. which of the following is an example of buyer offering his own requirement statement?
Our computer specialist must confirm that this new inventory system will work with our accounts receivable programs
which opening immediately generates excitement and therefore is considered the most effective way to begin a sales call with a prospect that has an expressive social style?
Product
SPIN
Situation, Problem, Implication, Need Payoff
I realize that my company's bar code label printer is more expensive than others thatyou may be looking at, but the Tharp bar code label printer is designed for microsoftWindows applications. Your employees will learn to operate our machine faster than other brands because of their familiarity with microsotf windows. you wont experence any loss in productivity when this printer is brought into your system. it takes up to two weeks to get comfortable using other brands." Which method for dealing with objections is the Tharp syste m salesperson using in this example?
Superior benefits
Brenda is considering purchasing a list of potential customers from an outline list dealer. Which of the following is not something that should concern Brenda regarding the list she is considering purchasing?
The list may contain names of people she has never heard of before
Dissatisfaction
The safety engineer for Michelin knows her company faces substantial fines because of violating government regulations that require fire suppression equipment in the company's South Carolina manufacturing plant. the engineer has been under a great deal of mental and emotional stress for several months because she knows the current fire suppression system is inoperable. her requests to order new equipment haven't been approved for some reason. she's afraid that she might be among the staff members held legally responsible and financially liable if people are injured in a fire at the plant. given the scenario that was described, we can be fairly certain that theSafety Engineer is a focus of BLANK for bill smith. bill sells fire suppression equipment
One tool sales people con use to strengthen a sales presentation and to make it more interesting is to use stories. Which of the following recommendations should be followed when using stories in a sales presentation?
Use vivid word pictures in your stories, try to use stories from your own experiences, make sure you have a reason for telling the story, use the "hook" of the story to tie back directly into the presentation
SPIN is an acronym representing a multiple question technique. Which of the following questions is a "P" question?
What do employees that aren't enrolled think of the cost they would have to pay to participate in the optional health insurance plans provided by your current supplier?
SPIN is an acronym representing a multiple question technique. Asked a "P" question, the prospect replied, "We have a great relationship with the current supplier of our employee health insurance plans, We really don't want to change suppliers at this time." Which of the following would be the best way for the sales person to respond.
What impact does the high cost of plans provided by your current health insurance supplier have on your ability to retain employees and recruit top talent for job openings with your firm?
SPIN is an acronym representing a multiple question technique. Which of the following questions is an "I" question?
What impact does the high cost of plans provided by your current health insurance supplier have on your ability to retain employees and recruit top talent for job openings with your firm?
Going over the screen
When secretaries answer the phone, Barrett often mentions the names of top level executives within a prospect's firm to arrange appointments with the junior level purchasing agents. He knows that dropping names of important people in such a way will help him get appointments. This method of dealing with gatekeepers is called:
Return on Investmen
When the sales rep divides the net profits (or savings) produced for a client by the amount of money the client is investing
SPIN is an acronym representing a multiple question technique. Which of the following questions is an "N" question?
Would you be interested in hearing more about health insurance plans that would be more affordable for all of your current employees and new recruits?
Purchasers that issue request for proposals like to see written sales proposals that include
a brief executive summary in the begining
Which of the following would be of value to state farms insurance sales people that are collecting information about prospects
a prospect graduated with a marketing degree from Kennesaw state university, the prospect's daughter is active in Little League baseball, the prospect's personality type amiable, the prospect is a member of the local rotary club
"I don't understand why you're afraid to commit to this new ad program," said Barry. "Our radio station is offering you a chance to be heard around the clock and all the upstate region. If you sign today, we can have your ads on the air in two days. No one else offers the service you need as fast. So, will it be the TAP schedule or the breakfast club package?" What type of sales person is Barry?
aggressive
Halet sells office furniture. While closing a sale to Jackson Realty Company, she asked, "Shall I order you five of the chrome and glass desks or five of the mahogany desks?" Which closing method was Hayley using?
alternative choice
The worst type of objection the hospital purchasing agent could have is
an unspoken belief that the company cannot meet required delivery times
A farm machinery sales person has spent the last three weeks gathering information about a prospect. He researched the prospect and analyzed their buying potential. When asked when he is going to call on the prospect, the sales person states he needs a couple of more weeks to gather some additional information. What problem is the sales person potentially experiencing?
analysis paralysis
Brooke is responsible for convincing category managers of retail chains to carry her firms line of smart watches. The watches are relatively new line and her firm has estimated quarterly consumer sales for the entire product category over the next two years. Brooke always shows product samples to her prospects. However, the best method Brooke can use to share the consumer sales projections with prospects is:
bar charts that display each quarters projected sales in units, profit margin, revenue, and percentage, and graphs that display each quarters projected sales in units, profit margin, revenue, an dpercentage increases over previous quarters and years
The sales person for the Kemco hot water./high pressure plant sanitation system told the purchasing agent, "Our new system saves your company $60,000 annually in energy, chemicals, and water." The salesperson was describing a
benefit
How can a sales person create an endless chain of leads and referrals?
by asking each prospect for names of others that may need or want the product
obtaining precall information false
collecting the information that may be needed is usually quick and easy
Anna showed the office manager at Arunden Wholesale Nursery how he could pay for the new copier she suggested by bringing more printing jobs in house and saving money that had previously been spent with outside vendors. Anna used BLANK to quantify the solution
cost benefit analysis
The salesperson was trying to convince a retailer to outsource its telemarketing department. He said, "My firm is providing outsourced call centers on behalf of Fortune 500 companies in 25 countries in North America, Europe, and Asia. Operators in out call center speak 30 languages." The sales person is emphasizing his company's
features
lead qualification and management
firms often engage in pre qualification of leads for their field sales forces, a lead management system can be used to grade leads and establish a priority call list, the use of information technology (CRM software) makes lead qualification and management more efficient and effective, telemarketers are used by some companies to prequalify leads
Examples of a trial close for a sales person selling refrigerated display units to supermarkets
how does a savings of $30 per moth on your refrigeration electricity bill sound? are you interested in how the oversized coil works to keep food cold and eliminate defrosting? How does the ease of mobility of this unit compare with other refrigeration units you have seen? Do you think you'd be interested in buying the optional illumination signage that comes with our units?
The buyer announces, "I will never buy that brand of knitting machine because it always knots my thread." The salesperson responds, "I'm sorry you had such a bd experience with our older model. Many of our customers expressed similar frustrations, but I can assure you that the problems do not exist on our lastest model." The knitting machine sales person is using the BLANK method of dealing with objections
indirect denial
A seller might use the "forestalling" technique if an objection
is a common one that many buyers offer
A lead must have what to qualify as a prospect
needs for the product or service, authority to buy, authority to pay, eligibility to buy
use of humor
never say sorry for telling a joke
How do sales people determine the difference between an excuse and a real objection?
observation of the buyers nonverbal behavior, understanding buyers motivations, learned experience handling objections, asking probing questions
While Martin was waiting in his prospect's office he noticed the prospect's college degree, vacation photographs, and awards placed strategically throughout the office. Martin was engaging gin BLANK which would hopefully create a basis for BLANK
office scanning; small talk
Closing cues or buying signals are best described as
positive verbal or nonverbal feedback from the customer or prospect
Sales call objectives should be
reachable yet challenging, specific and measurable, time based, written down
Robbie finds himself in the awkward position of not having the specific product Verna's office needs to best solve the current problem. One of Robbie's goals is to establish a long term relationship with Verna and others in herfirm. Robbie should:
recommend a competitor's product if he knos of one that will better solve the problem at hand
According to Joe Young of EMC, the "top three customer challenges" in the IT (information technology) industry include
the explosive growth inthe amount of data the customers must maintain
Oppurtunity cost
the return a buyer might earn from a different use of the same investment capital
Why should a sales person use visual aids and get a prospect actively involved in the sales presentation?
to get and keep the prospects attention
