Question 1

A simple way to remember the qualifying process is to think of the word "MAD." The letter "D" reminds the salesperson to ask if the prospect has:

Accepted Answer

The letter "D" in the mnemonic "MAD" stands for "Desire," reminding the salesperson to assess if the prospect has a genuine desire or need for the product or service being offered.

Question 2

________ is the process of determining if a suspect is to become a prospect.

Accepted Answer

Qualifying is the process used to determine if a suspect (a potential customer) has the characteristics that fit the criteria to become a prospect, such as need, ability to buy, and readiness to buy.

Question 3

What does the letter "A" represent in the acronym MAD?

Accepted Answer

MAD stands for Mutually Assured Destruction, which refers to the concept that if one nuclear power attacks another, the other will retaliate with an equally devastating attack, resulting in the destruction of both sides. Therefore, the letter "A" in MAD represents "Assured".

Question 4

If you learn about the sales process in the same order that a salesperson goes through the process, the first thing you will study is:

Accepted Answer

Prospecting is the first step in the sales process, where the salesperson identifies potential customers (prospects) to whom they can sell.

Question 5

________ 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.

Accepted Answer

The sales process 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. This encompasses all steps from initially identifying potential customers to closing the sale and following up.

Question 6

The sales manager at OBC Office Supplies has determined that the office manager of Hoffman Realty has the money, desire, and authority to purchase a new copy machine. Hoffman Realty would best be described as a:

Accepted Answer

A qualified prospect is a potential customer who has been researched and vetted to some degree and is found to have the budget, authority, and need to purchase a product or service, matching the description of Hoffman Realty in this scenario.

Question 7

Which of the following statements about the selling process is true?

Accepted Answer

The answer of Which of the following statements about the...

Question 8

A qualified person or organization that has the potential to buy your goods or services is a:

Accepted Answer

A prospect is a qualified person or organization that has the potential to buy your goods or services, indicating they have shown interest or fit the target market criteria.

Question 9

Linda'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 Al's Deli may be a potential buyer for the furniture. Linda's husband should now engage in the ________ process to determine if it is worth his time to try to convince Al to buy.

Accepted Answer

Qualifying involves assessing potential buyers to determine if they have a genuine interest or ability to purchase a product or service. In this context, Linda's husband needs to determine if Al's Deli is a serious and capable buyer for the furniture.

Question 10

In many instances, customer attrition; the loss of customers over time, is not controllable because of all the following reasons, EXCEPT?

Accepted Answer

Customer attrition due to a salesperson not responding to calls is controllable through improved customer service and communication efforts.

Question 11

A simple way to remember the qualifying process is to think of the word "MAD." The letter "M" reminds the salesperson to ask themselves if the prospect has the ________ to buy.

Accepted Answer

The letter "M" in the acronym "MAD" stands for "money," reminding the salesperson to consider if the prospect has the financial resources necessary to make a purchase.

Question 12

Which of the following is the last step in the selling process?

Accepted Answer

The last step in the selling process is the follow-up, where the salesperson ensures that the customer is satisfied with the purchase and addresses any issues or concerns, fostering a long-term relationship.

Question 13

After the presentation, the next step in the selling process is:

Accepted Answer

The answer of After the presentation, the next step in...

Question 14

One of the reasons why a salesperson must constantly look for new prospects is to:

Accepted Answer

Constantly looking for new prospects helps a salesperson increase product sales by expanding their customer base and generating more opportunities for transactions.

Question 15

In which step of the prospecting process, leads and prospects are evaluated based on the "MAD" questions?

Accepted Answer

The "MAD" questions (Money, Authority, and Desire) are used in the step of qualifying a lead to assess if the potential customer has the budget (Money), the power to make the decision (Authority), and the interest or need (Desire) for the product or service being offered.

Question 16

________ is the lifeblood of sales because it identifies potential customers.

Accepted Answer

Prospecting is the process of identifying potential customers, which is essential for generating new sales and is therefore considered the lifeblood of sales.

Question 17

Which of the following occurs before the sales presentation?

Accepted Answer

Preapproach occurs before the sales presentation, during which the salesperson prepares for the meeting by gathering information about the prospect and planning the approach to the presentation.

Question 18

Jessica has just earned her real estate license. She has decided to do a webinar for first time home buyers. Which of the following would NOT be advisable to do as she prepares for her webinar?

Accepted Answer

Selling a product during an educational webinar for first-time home buyers may not be advisable as it could detract from the educational value and trust-building purpose of the webinar. The focus should be on providing valuable information and resources, not on direct sales.

Question 19

Danny runs a small business- offering handyman services to households. During a social gathering within his neighborhood, he came to know that one of the residents, Dr. Robert's gutters need cleaning. For Danny, Dr. Robert is a:

Accepted Answer

Dr. Robert is considered a prospect because he is a potential customer for Danny's handyman services, specifically for gutter cleaning. A prospect is someone who has been identified as having the potential to become a customer.

Question 20

Why do salespeople constantly search for new prospects?

Accepted Answer

Salespeople constantly search for new prospects to replace customers lost over time due to various reasons such as changing needs, competition, or dissatisfaction. This is essential for maintaining and growing their sales volume.

Quiz 6: Prospectingthe Lifeblood of Selling