Mktg 354 Chapter 9: Developing and Qualifying Prospects and Accounts

having prospects at many different stages of the sales cycle

A "balanced funnel" involves:

too little resources are available to focus on prospects with high potential

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

select who you will follow up with based on their usefulness

A key concept in networking is to:

integrate some prospect identification with regular selling duties

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

amount, date, and likelihood that a sale will close

A prospect list from a CRM database is likely to include which kinds of information?

15 to 20

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

center of influence

A well-connected person who may not make the buying decision but who may have an impact on the person who does is a:

pipeline dashboards

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

customer information is available to many people in the company

CRM software is useful because:

potential prospects

Cold calling can be an effective technique for reaching:

they allow you to educate prospects about your product

Educational seminars can be a good source of prospects because:

a prospecting and sales forecasting plan

Estimating the potential sales volume that might be generated by each new account is part of developing:

A certain number of customers will be lost every year by most companies.

Joe Girard's "Ferris Wheel" concept assumes which of the following?

beneficial

Networking outside of a salesperson's industry is largely:

that relies on making contacts with people and profiting from the connection

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

Do you know my company?

Sales intelligence involves answering which of the following questions?

CRM software

Salesforce.com is a leading provider of:

using multiple factors to classify prospects

The portfolio model of classifying prospects involves:

Can the prospect make the buying decision?

The process of qualifying prospects includes answering which of the following questions?

the salesperson

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

determining where a prospect is in the sales process

The sales funnel model of classifying prospects involves:

your set of direct and indirect contacts

The term "social network" refers to:

build value into the sales process

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

referral

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 salesperson cannot afford to spend time calling on persons who are not legitimate prospects.

Which of the following is a true statement regarding prospecting?

There is a strong emphasis on punctuality.

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

It is easier to identify good prospects and close sales at a trade show.

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

Shorten the sales cycle by quickly determining which of the new prospects are qualified prospects.

Which one of the following efforts is used by progressive marketers to improve the quality of the prospecting process?

When you meet someone, tell the person what you do.

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

Data reports published by U.S. and Foreign Commercial Service

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?