Sales exam #3

Establishment of objectives for the sales presentation and preparation of the presentation plan must be guided by​ ________.

. a strong desire to provide outstanding customer service

Prior to developing the presentation​ plan, salesperson must answer an important​ question: ________.

Do these activities relate to the​ customer's buying​ process?

​_____ is one of the biggest obstacles sales people have to conquer.

Price objection

​_____ help(s) you uncover ad clarify the​ pain, implications, and circumstances surrounding the​ customer's buying problem.

Probing questions

________ includes​ thoughts, feelings, and behavioral patterns that conspire to limit what a salesperson is able to accomplish.

Sales call reluctance

In analyzing each buyer​ concern, the salesperson should try to determine which method can be most effective. In most​ cases, the salesperson can use​ ________.

a combination of methods

In the eyes of most​ customers, value is more important than price. Always try to position your product with​ ________.

a convincing value proposition

Team sales presentations require​ ________.

a more detailed precall plan than individual sales calls

Need discovery is sometimes called​ ________.

a needs analysis or needs assessment

Studies indicate that the favorable testimony of​ ________ can be an effective method of responding to buyer resistance.

a neutral third party

When you are working on a​ large, complex​ sale, you should try to​ ________ throughout the sales process.

achieve incremental commitment

​A(n) _____ is something you want from the customer during the sales presentation.

action objective

A​ high-quality and professional approach is a powerful way to​ ________.

add value and differentiate yourself from your competitors

The best time to deal with price is​ ________.

after you have reviewed product features and buyer benefits

Selling to the​ "gatekeeper" means​ ________.

aligning yourself with the person who schedules the decision​ maker's appointments

Adaptive selling involves​ ________ to improve communication with the customer.

altering sales behaviors

During the sales​ process, salespersons make the mistake of not​ ________.

asking for the order more than once

If you have identified a genuine​ need, presented your solution in terms of buyer​ benefits, presented an effective sales​ demonstration, and negotiated buyer​ concerns, the​ ________ close might be the most natural closing method.

assumptive

Important buying signals might​ ________.

be interwoven into normal conversation

The concept of finding​ "what alternative(s) will be acceptable to you if your negotiation does not​ succeed" is called​ ________.

best alternative to negotiated agreement or BATNA

Regarding the specific use of​ questions, research results revealed that the highest performing salespeople used questions to​ ________.

build​ clear, complete, mutual​ understanding; guide the direction of the sales​ call; and used questioning strategy to facilitate an open exchange of information

The qualifications that must be available or fulfilled before the sale can be closed are called​ _____conditions.

buying

One way to clarify price concerns is​ ________.

by asking questions to determine what the customer is thinking

The​ "sell low​ now, make profits​ later" approach​ ________.

can create value for both you and your customer because it might be a way of gaining a foothold in your​ buyer's business

In order to create a customized presale​ presentation, salespeople need to​ ________.

collect background information

Solution selection is an important function of the salesperson. Salespeople who have the ability to​ ________ achieve the status of trusted advisor.

conduct a​ value-added needs analysis

Buyers sometimes use the​ "take-it-or-leave-it" tactic. An alternative strategy to counter this tactic is to​ ________.

confidently review the superior benefits of your product and make another closing attempt

The​ _____ approach is also referred to as the elevator speech.

customer benefit

The sales environment is changing. In competitive​ markets, success increasingly hinges on​

developing mutually rewarding customer relationships

Research has shown that​ high-performance sales personnel have learned how to

diagnose and solve problems better than their competitors

The​ ________ close is the most straightforward closing approach and many buyers find it attractive.

direct appeal

The key advantages of a sales team include​ ________.

discovering​ problems, solutions, and sales opportunities

Resistance to time is often referred to as stalling. A stall usually means the customer​ ________.

does not yet perceive the benefits of buying now

The salesperson should be alert to specific benefits that generate the most​ excitement, which are called​ ________.

dominant buying motives

One of the MOST important personality traits salespeople need is​ ________, which is especially helpful in recognizing closing clues.

empathy

​Today's customers are well informed and might want to​ ________ early in the sales process.

engage in negotiations

The second prescription discusses the need for a carefully prepared presentation plan that includes​ ________.

ensuring that all salespeople are well organized and prepared to achieve objectives

The three prescriptions of a presentation strategy are​ ________.

establish​ objectives, develop a presale presentation plan to meet the​ objectives, and renew​ everyone's commitment to provide outstanding customer service

Servicing the sale is a major way to create​ value, ensure maximum​ satisfaction, and​ long-term relationships. Critical​ servicing-the-sale activities include​

expansion​ selling, making credit​ arrangements, following through on assurances and​ promises, and dealing effectively with complaints

The challenge a salesperson faces in almost every negotiation is to sell products and services based on​ ________, not on price.

fair and unique value propositions

If the approach is​ successful, the salesperson will be​ ________.

given the opportunity to make a sales presentation

Salespeople use the consultative sales presentation because

increased customer​ satisfaction, more closed​ sales, and more repeat and referred business

​Product-oriented selling is usually

inefficient and ineffective

Team members should be given​ ________.

information about the​ customer, understand basics of presentations, and add value

Some salespeople make the mistake of waiting until the close to reveal​ ________.

information that might come as a surprise to the prospect

According to research by Neil​ Rackham, the________ has the most impact on the​ buyer's decision to purchase a product.

investigative or need discovery stage

If you are calling on business​ prospects, the way to overcome need resistance is to prove your product​ ________.

is a good investment

A closing clue or buying signal​ ________.

is a verbal or nonverbal indication that the prospect is preparing to make a buying decision

Concerns about the product or service often become the focal point of buyer resistance. Two common factors influencing the​ buyer's attitude are that the product or service​ ________.

is not well established or the current product or service is satisfactory

In need discovery you assume that the​ client's problem is not​ _____.

known

The starting point for need discovery is developing​ a________.

listening attitude

Buyers will also use the​ "let-us-split-the-difference" tactic. If the​ buyer's suggestion is not​ acceptable, then you might​ ________.

make a counteroffer

The second step in the preapproach process is​ ________.

making a first​ impression, getting their attention, and transitioning to need identification

When collaborating with a potential customer on potential​ solutions, the salesperson should​ ________.

match specific benefits with specific buying motives

Body​ movements, facial​ expression, and tone of voice​ ________.

might be nonverbal buying clues

The consequence of the use of the​ "if . . .​ then" tactic could be serious. If the buyer does have a number of options that offer the same benefits as​ yours, then the salesperson​ ________.

might have to concede

The​ four-part need-satisfaction model includes​

need​ discovery, solution​ selection, need​ satisfaction, and servicing the sale

In many selling​ situations, the salesperson needs to take responsibility for​ ________.

obtaining commitment from the customer

The third part of the​ need-satisfaction model is​ informing, persuading, or reminding. During this​ process, the salesperson​

places less emphasis on questions and more on​ value-adding statements

​"Do unto others as they want to be done​ unto" is an application of the​ _____ rule of negotiating.

platinum

The first step in the preapproach process is​ ________.

preparing presale objectives and developing a presale presentation plan

Several closing methods might be necessary to get the prospect to make a buying​ decision; therefore, it is wise for the salesperson to​ ________.

preplan several closes

The presentation strategy adds value by making sure the​ ________.

presentation is customized and adapted to meet the needs and time constraints of the prospect

The process of selecting the right solution is called​ ________.

product configuration

The​ pace, scope, and time allocated to need discovery might depend on a variety of​ factors, but there are generally several major factors. The major factors include

product​ sophistication, price,​ customer's product​ knowledge, and time available for discussion

During need​ discovery, the effective use of​ ________ to achieve need identification and need satisfaction is one of the greatest challenges facing most professional salespersons.

questions

Before you ask the​ _____ customer for a buying​ decision, make sure you review important factual information.

reflective

Negotiations can happen at any stage of the sales​ process, but in most cases the most important negotiations will take place during the​ ________ stage of the buying process.

resolution of problems

The second part of the consultative sales process consists of selecting or configuring a solution that​ ________.

satisfies the​ prospect's buying motives

Active listening is​ ________, both in terms of content and meaning.

sending back to the prospect what you as a listener think the prospect meant

Use​ ________ to control the flow of information and draw out the customer.

silence

Asking for the order is less difficult if the salesperson is​ ________.

strategically prepared for the close

The proper attitude during closing should be viewed as a​ ________.

strategy to help the customer make the correct decision with the best solution

When you are dealing with the​ price-conscious transactional​ buyer, who needs flexibility and​ options, the​ ________ close might be the most appropriate closing method.

the multiple options

The business contact involves converting the​ prospect's attention from the social contact to​ ________.

the sales presentation

A major goal of​ ________ is to make a good first​ impression, build​ rapport, and establish credibility.

the social contact

Negotiate a​ win-win solution to​ ________ before you attempt to close the sale.

the tough points

Bringing new insights to customers regarding​ ________ creates value for them.

their buying problem and enhanced solutions

The greatest time investment in personal selling is​ ________.

the​ front-end of the sales process

Salespeople skilled in adaptive selling consider how​ ________ may enhance the sales presentation.

the​ relationship, product, and customer strategies

To help overcome price​ concerns, salespersons need to direct the​ customer's attention​ to________.

the​ value-added features of your product or service

Many​ ________ buyers are primarily interested in price and convenience during​ negotiations, so consider eliminating features that contribute to a higher selling price.

transactional

The​ ________ close is a closing attempt made at an opportune time during the sales presentation to encourage the customer to reveal readiness or unwillingness to buy.

trial

A salesperson might attempt to turn the objection into​ a(n) ________ by concluding the sale without prejudicing the opportunity to continue the selling process with the buyer should he or she refuse to commit.

trial close

Objectives of the first prescription include​ ________.

understand needs and build or establish the relationship

Preparation for the close involves​ ________.

understanding customer​ needs, custom-fitting​ solutions, and planning appropriate closing methods

One strategy to use with buyers who use the​ "budget limitation​ tactic" is to​ ________.

use unbundling by eliminating some items to reduce the price

Consultative selling is a very​ customer-centric form of selling that creates

value for the customer and the firm

Closing the sale is usually easier if you look at the​ _____ from the​ prospect's point of view.

value proposition

The definition of negotiation is​ ________.

working to reach an agreement that is mutually satisfactory to both buyer and seller

A second important negotiation planning​ tool, ________, is defined as the space between the​ seller's walk-away point and the​ buyer's highest willingness to pay.

zone of possible agreement or ZOPA

Some of the most common approaches to arouse prospect interest in the presentation include​ ________.

​agenda, product​ demo, referral, customer​ benefit, question,​ survey, and premium

The six main parts of the presentation plan include​ ________.

​approach, need​ discovery, presentation,​ negotiation, close, and servicing the sale

The social contact helps build rapport. Building rapport should lead to​ ________.

​credibility, which builds trust

The great majority of buyer concerns fall into five categories. Those categories are​ ________.

​need, product,​ source, time, and price

Verbal closing clues can be divided into​ categories, which are​ ________.

​questions, recognitions, and requirements