Deck 6: Prospecting the Lifeblood of Selling

Question 1

To be effective, the participants in a sales club should sell competing products.

Answer 1

False

Question 2

Since prospecting is not a skill, it cannot be improved overtime.

Answer 2

False

Question 3

The salesperson who uses the cold canvas method of prospecting usually knows something about the prospect.

Answer 3

False

Question 4

Success in selling often requires as much or more time in preparation before and between calls than is involved in actually making the calls themselves.

Question 5

The sales process refers to a sequential series of actions by the salesperson that leads toward the customer taking a desired action and ends with a follow-up to ensure purchase satisfaction.

Question 6

The two reasons a salesperson must look consistently for new prospects are to maintain sales and to increase the number of repeat sales.

Question 7

Telemarketing is a marketing communication system using telecommunication technology and trained personnel to conduct planned, measurable marketing activities directed at targeted groups of consumers.

Question 8

When prospecting, a salesperson should attempt to determine if the potential client has the ability to pay for the product.

Question 9

Qualifying leads is the first step in the selling process.

Question 10

Orphaned customers are great prospects.

Question 11

To be effective as a presenter at a trade show, a salesperson should make a list of the major buyers at the show she wants to pursue as potential contacts.Furthermore, she should communicate with these people ahead of time.

Question 12

The authors of the textbook introduce the notion of Motive, Means, and Desire as another way of looking at qualifying prospects.

Question 13

Prospects and Leads are really different terms describing the same characteristics of a potential customer; hence, the two terms are synonymous.

Question 14

Referrals gained from existing customers are an example of prospecting.

Question 15

The steps before the sales presentation include: approach, obtaining an appointment, and pre-approach planning.

Question 16

Networking can be the most reliable and effective of all prospecting methods.

Question 17

A true prospect can also be referred to as a lead.

Question 18

As described in the textbook, the sales process involves nine different but interrelated steps.

Question 19

Tom has determined that his prospect does not have the authority to buy.To save time, Tom should reschedule his presentation with someone else from the company who will have the authority to make the decision.

Question 20

Telephone prospecting is an excellent way to locate leads and quickly determine if they are qualified prospects.

Question 21

Which of the following is the correct order of steps occurring before the sales presentation?

A)Pre-approach planning to Prospecting to Obtaining an appointment
B)Prospecting to Pre-approach planning to Obtaining an appointment
C)Prospecting to Obtaining an appointment to Pre-approach planning
D)Pre-approach planning to Obtaining an appointment to Prospecting
E)Obtaining an appointment to Pre-approach planning to prospecting

Question 22

Kelly is new to the sales industry and she is discussing some tips with her co-worker.Her co-worker suggests that she should focus on spending a certain percentage of her time on preparing, presenting, and follow-up especially when selling to larger accounts.Which of the following percentage allocation for each stage might Kelly's co-worker have recommended?

A)20% preparation, 40% presentation, 40% follow-up
B)40% preparation, 40% presentation, 20% follow-up
C)40% preparation, 30% presentation, 30% follow-up
D)40% preparation, 20% presentation, 40% follow-up
E)30% preparation, 30% presentation, 40% follow-up

Question 23

Customers often hesitate to give referrals as they fear upsetting their friends or relatives.

Question 24

If a salesperson is going through a sales slump, it is often a good idea to get back to basics and seek help from peers and managers.

Question 25

In a parallel referral sale, salespeople must sell the product as well as the after-sales service.

Question 26

James, a national account manager spent the last year preparing a detailed description of a potential national account.Which of the following best captures the role this detailed description will provide James?

A)serves as a detailed motivator
B)ensures James will be successful
C)serves as a compliance mechanism
D)ensures the 9^th step in the 10-step sales process is done
E)a business plan for selling this national prospect

Question 27

Qualifying a lead involves determining if that lead has three attributes.Which of the following three attributes are identified by the textbook as pre-requisites before a lead may become a "qualified prospect?"

A)Motive, Authority, and Need
B)Money, Authority, and Desire
C)Motive, Means, and Need
D)Opportunity, Time, and Resources
E)Time, Availability, and Authority

Question 28

The contact management aspect of CRM allows salespeople to input their selling criteria and generate a score for their leads.

Question 29

What is defined as the series of sequential actions by a salesperson that leads toward the customer taking a desired action and ends with a follow-up to ensure purchase satisfaction?

A)The sales presentation
B)The prospecting process
C)The sales process
D)Networking
E)The pre-approach

Question 30

On average, it takes two years to clear-up the sales funnel.

Question 31

When prospecting, salespeople look for individuals and clients who have MAD.Which of the following is part of the MAD acronym?

A)Motive
B)Determination
C)Acknowledge
D)Money
E)Admire

Question 32

If a customer does not provide you with a referral then you should simply move on without addressing it.

Question 33

A method in which a salesperson finds and cultivates people in a community or territory who are willing and able to help the salesperson identify prospects is called a "center of influence."

Question 34

The lead scoring function of CRM allows salespeople to allocate their time efficiently by focusing on the high scoring leads first.

Question 35

Which of the following does not occur before the sales presentation?

A)qualifying
B)obtaining an appointment
C)prospecting
D)pre-approach planning
E)trial close

Question 36

You have been tasked with explaining to a junior salesperson the 10 sequential steps that should be taken by a salesperson to increase the likelihood of a successful sales outcome.Which of the following would you characterise as the first step?

A)the approach
B)prospecting
C)the close
D)the pre-approach
E)the trial close

Question 37

One of the criteria for developing your own "best" prospecting method is to "always call back on prospects who did not buy."

Question 38

You can begin the referral cycle in the presentation, product delivery, pre-approach, or service phase.

Question 39

Pipeline management software is a digitally advanced version of the sales funnel.

Question 40

Salespeople must sell the product and sell the prospect on providing referrals.These two activities are collectively known as the sales funnel.

Question 41

Which of the following questions would be asked by a salesperson to determine a buyer's motives?

A)How will you justify the purchase?
B)Why did this problem occur?
C)Who will finally give the approval?
D)Are you ready to use our company's solution?
E)Are you planning to lease or finance this purchase?

Question 42

Which of the following is a question the text suggests for a salesperson to ask of himself or herself to determine if a lead is actually a qualified prospect?

A)Does the prospect have the time to buy?
B)Does the prospect have the motive to buy?
C)Does the prospect have the determination to buy?
D)Does the prospect have the authority to buy?
E)Does the prospect have the need to buy?

Question 43

Caroline has just received a referral from one of her loyal existing clients.She wants to save time by getting some details about the referral from her client.Which of the following questions qualifies as one of the "MAD" questions that Caroline should be asking her existing client?

A)When was the last time you checked the competition's product?
B)What are my chances of signing-up this referral?
C)What are their short and long-term goals?
D)Who else have you referred this client to before?
E)How soon do you think they would be looking to purchase this product?

Question 44

A simple way to remember the qualifying process is to think of the word MAD.What does the letter D stand for in the acronym "MAD?"

A)duty
B)determination
C)discretion
D)desire
E)dispensation

Question 45

Ann's attempt to open a salad bar in a small town failed.Her husband is trying to sell the tables and chairs she purchased.He suspects that Spencer's Deli may be a potential buyer for the furniture.What would you call the process of attempting to determine if in fact Spencer's Deli has the financial ability to purchase the tables and chairs?

A)qualifying
B)closing
C)database marketing
D)bird dogging
E)leading

Question 46

Marco is out of work, but he is very good at fixing things around the house.He has spent much of his time during the last week going door-to-door asking people who live in the area if they have any odd jobs for him.In terms of the selling process, Marco is engaged in:

A)prospecting
B)trial closes
C)the referral method
D)networking
E)direct marketing

Question 47

Marie, a sales representative for a software company may join a "sales lead club" for several reasons.Which of the following is most likely the reason motivating Marie to join a "sales lead club?"

A)meet other salespeople
B)avoid having to make parallel referral sales
C)share leads and prospecting tips
D)practice new sales presentations
E)evaluate her own sales call objectives

Question 48

Which of the following would NOT be classified as a prospecting method?

A)public exhibitions and demonstrations
B)cold canvas
C)experimentation
D)endless chain
E)observation

Question 49

Laura Mahoney is trying to increase sales and is thinking of turning to social media as a possible solution.Which of the following would potentially be an advantage associated with using social media for prospecting purposes?

A)replace cold canvas
B)broadens her centre of influence
C)identify and follow up on leads
D)replaces the notion of endless chain
E)difficult to observe prospects

Question 50

Matt was hired to replace Kara as a sales representative for Hunter Gallery.On his first day at work, Matt was given a list of all of Kara's previous customers.What term best describes Kara's old customers from Matt's perspective?

A)cold prospects
B)orphaned
C)uncommitted
D)disenfranchised
E)vacant customers

Question 51

Bernie's sales manager has just told him that if he wants to quit wasting time making presentations to people who aren't qualified he's going to have to think "MAD." What was the sales manager trying to tell David?

A)Set up a reward-punishment system for himself as a form of motivation.
B)He can improve his presentations and make them more memorable if he Makes Another Demonstration on each sales call.
C)He should spend his time thinking of Management who are Approachable and Devoted to the business.
D)Qualify his prospects by determining if they have Money, Authority, and Desire to buy.
E)Motivate his customer to pay Attention, and use his sales presentation to create Desire.

Question 52

Christopher is 16 years old.He is trying to earn money to buy a car by operating a dog walking service.He is going house-to-house and knocking on the door of every individual who lives within a six-block radius of his house.Which of the following prospecting methods best describes Christopher's approach?

A)public demonstration
B)group
C)referral
D)cold canvas
E)endless chain

Question 53

Justin is a newly hired salesperson at his company.He will be meeting his first ever prospect later in the day.His co-worker advises him to do some research on the client and tells him about the "MAD" questions to save time.Justin decides to go through his client's company website and all published articles in order to prepare some questions.Which of the following questions would qualify as an "Authority" question that Justin should ask his client?

A)How soon are you looking to purchase this product?
B)What is the reason to replace your current product?
C)Are you making this purchase for yourself?
D)Are you looking to buy it outright or finance the purchase?
E)Who will be making the final decision for this purchase?

Question 54

Amy sells truck bed liners guaranteed to last for 20 years.After every sale, Amy asks her customers for the names of several friends who might also be interested in purchasing a new bed liner for their truck.What prospecting method best describes Amy's approach?

A)centre of influence
B)cold canvas
C)group
D)endless chain referral
E)observation

Question 55

Mary, a bank employee in Calgary has been given a list of potential clients that may benefit from having a conversation with Mary about their financial retirement needs.Immediately, Mary begins to review the list looking for potential clients that may be converted into prospects.Which of the following terms best captures the process of converting a lead into a prospect?

A)Scheduling
B)Networking
C)Qualifying
D)Routing
E)Characterizing

Question 56

Justine is meeting her client for the first time.She is trying to ask questions related to "MAD" in order to make sure that her prospect is a qualified lead.What might be one of the "Desire" related questions Justine will ask her client during her meeting?

A)What kind of price range were you considering for this product?
B)Are you making this purchase for yourself?
C)What is the reason to replace your current product?
D)Who will be making the final decision for this purchase?
E)Are you looking to buy it outright or finance the purchase?

Question 57

John accepted a position with a Canadian Life Insurance Company four months ago.His manager asked John to identify 10 new potential customers per week.Which of the following would not be a good method for identifying new prospects?

A)Asking for referrals from his current customer base
B)Contacting so called "orphaned accounts"
C)Organize and lead a "sales leads club"
D)Leveraging his LinkedIn account
E)Conducting an experiment on his current clients

Question 58

Kyle has not had enough luck with his current prospecting techniques and is looking for ways to make his prospecting methods more efficient.Which of the following is not a question Kyle should ask himself in order to make his prospecting successful?

A)Am I in touch with the decision makers?
B)Do I always focus on the leads who have the best potential?
C)Am I calling the prospect at the right time of the year when they are ready to purchase?
D)Am I being apathetic when trying to understand prospect's main issues?
E)Have I created the best proposition in order to attract prospect at higher level of their organizations who can make decisions?

Question 59

Jessica sells cosmetics.She has asked you to recommend a source of prospects.Which of the following would not be a possible place for Jessica to locate prospects?

A)personal acquaintances
B)online yellow pages
C)newspapers
D)LinkedIn
E)Apple's Siri

Question 60

Mario has a meeting with a prospect in a few hours.He is also aware that his prospect has been dealing with another non-competing salesperson regarding a different service.Mario has a good rapport with this salesperson and he decides to give him a call to ask him some questions related to "MAD" in order to allocate his time wisely.Which of the following questions would qualify as a "Money" question that Mario should ask this salesperson?

A)How soon do you think they would be looking to purchase my services?
B)Do you know what the reason is for your client to look for my services?
C)Do you know if the client is buying these services for himself or someone else?
D)Do you know the budget range that the client might have in mind?
E)Why do you think the client is looking to switch his services from his existing provider?

Question 61

Which of the following is not considered a medium for social sales technology?

A)Twitter
B)LinkedIn
C)Facebook
D)App Store
E)YouTube

Question 62

Which of the following prospecting methods is the toughest prospecting method for a salesperson to use?

A)cold canvassing
B)direct mail
C)observation
D)public demonstration or exhibitions
E)centre of influence

Question 63

The textbook suggests that the presentation stage is known by different names, depending on the industry.Which of the following is not a suggested name for the presentation stage?

A)Meeting
B)Appointment
C)Gathering
D)Interview
E)Presentation

Question 64

Which of the following may not be done on CRM software?

A)Lead generation and tracking
B)Data integration and learning
C)Architecture management
D)Contact management
E)Lead scoring

Question 65

The owner of Tekna, a manufacturer of variable-speed saws and routers, is planning on having a booth at the Halifax Woodworking Trade Fair.He asks you for tips as he regards you as an expert in the area of sales and trade shows.Which of the following is NOT likely to be advice you would provide?

A)Use your social media contacts to advertise your presence at the trade show
B)Practice communicating two or three key points about his saws and routers
C)Set goals each day for sales, leads, or contacts
D)Before the show begins, make a list of major buyers at the show you want to pursue; however, avoid contacting them before the trade show so as not to appear overly pushy.
E)Be prepared for rejection.Some buyers will ignore you - Don't take it personally

Question 66

A firm that is involved in purchasing a list of potential contacts, including their emails, is most likely involved in which prospecting method?

A)Cold canvassing
B)Direct mail
C)Prospecting on the web
D)Networking
E)Centre of influence

Question 67

Which of the following best characterizes the term "parallel referral sale?"

A)Salespersons are always selling
B)Merry go round Concept that focus on attaining one referral per customer
C)A method of selling that makes the sale and gains referrals
D)Boomerang Concept linked to the pre-approach phase
E)Getting the sale and coming back to the customer for a referral after she has used the product for at least one month

Question 68

What are Scott's Canadian Business Directory and 411.ca examples of?

A)Private companies
B)Sources of prospecting lists and directories
C)Marketing research companies
D)Phone book publishers
E)Yellow page publications

Question 69

The textbook identifies several barriers that may prevent customers from providing a salesperson with referrals.Which of the following are NOT identified as barriers?

A)clients do not want friends to think they're being talked about
B)client sees the salesperson being too good at his/her job
C)client believes in the product but not the salesperson
D)client does not believe the salesperson will be in their role in the future
E)client does not benefit directly from providing the salesperson with the referral

Question 70

Last night while she was eating dinner, Laura received a phone call from a salesperson who wanted to know if she would be interested in buying life insurance for her family.Which of the following best describes the prospecting technique being used on Laura?

A)endless chain
B)centre of influence
C)telemarketing
D)observation
E)referrals

Question 71

Carlos took his sports car to his trusted mechanic for a regular maintenance service.The mechanic recommended that Carlos approach Tire Are Us to replace two front tires on his sports car.Which of the following prospecting methods best describes this scenario?

A)observation
B)pre-approach
C)endless chain
D)centre of influence
E)networking

Question 72

Which of the following best identifies the main sources for a prospect pool?

A)telephone directories, Chambers of Commerce, and professional organizations
B)anyone who might use your product and anyone who has used your product or one like it in the past
C)leads, referrals, and your competitor's customers
D)leads, referrals, orphans, and your customers
E)industry directories, club rosters, and the Small Business Administration (SBA)

Question 73

Andrew's client is already aware of the products and services his company carries; therefore, his client has directly reached out to Andrew via online chat and has asked him to provide more information on a particular product.In this scenario, which method of prospecting is being used?

A)Cold canvassing
B)Teleprospecting
C)Telemarketing
D)Inside sales
E)Centre of influence

Question 74

Christina loves talking about her sales experiences in her blog.She usually has engaging followers and she enjoys getting into debates with them.Without even realizing, Christina is using which method of prospecting?

A)Observation
B)Centre of influence
C)Sales lead club
D)Direct mail
E)Getting published

Question 75

The textbook identifies several prospecting criteria.Which of the following is NOT identified by the authors of the textbook as one of those criteria?

A)concentrate on high-potential customers before low-potential customers
B)if you observe a salesperson at a competitive firm who seems to have an effective prospecting method, don't be afraid to copy it
C)always call back on prospects who did not buy
D)when you have a new product, don't restrict yourself to only your present customers
E)customize a prospecting method that suits the needs of your individual firm

Question 76

Rita sells insurance for home owners and renters.Every weekend she goes out looking for moving vans and people unloading U-Haul trucks.She writes down the addresses of those who seem to be moving in.Every Monday she calls the list she gathered during the weekend and asks if they are interested in insurance.What method of prospecting is Rita using?

A)centre of influence
B)observation
C)networking
D)pre-approach
E)endless chain

Question 77

In cases where there are a large number of prospects for a product dispersed over a large geographical area, a salesperson should consider using which of the following approaches?

A)direct-mail prospecting
B)centre of influence prospecting
C)his or her membership in sales lead club
D)endless chain prospecting
E)cold canvassing

Question 78

Ricardo is a realtor in Edmonton.On Sunday afternoons, he often drives around Edmonton looking for homes for sale by owners.Monday morning he calls those home owners who are trying to sell their own homes and offers his services.What method of prospecting is Ricardo using?

A)observation
B)pre-approach
C)networking
D)endless chain
E)centre of influence

Question 79

In order to enlarge its prospect list, Doggy Heaven Kennel seeks the assistance of area veterinarians in identifying people who are likely to need its services.What term best describes the role the veterinarians play in this scenario?

A)warm canvas
B)group influencers
C)trusted source
D)centre of influence
E)endless chain

Question 80

Patricia is analyzing customer interaction data gathered from her company's website to better understand the customers' needs and use the information in her sales process.Patricia is involved in:

A)Social selling
B)Lead scoring
C)Prospecting on the web
D)Pipeline management
E)Social listening