Question 1

Charles Lin has just been hired by Frederick Company to replace a sales representative who is retiring after 40 years with the company. The older representative is training Charles on procedures and customers in his territory for three weeks before he retires, and Charles knows this is a huge opportunity to learn about the prospect base. When Charles asks which CRM system the company uses, the older representative says, "Everyone else here uses some computer program called Salesforce, but I won't touch it. I know my customers like the back of my hand! I never needed to write anything down." Charles is concerned. He used Salesforce in college and knows how vital it is to have customer information, sales records, preferences, and conversations recorded. He talks to the sales manager, who tells him the representative's sales were decent, and all his invoices came in, so they left him alone and never forced him to use the CRM system.
-How does the retiring representative's decision to not use a CRM system most likely affect Frederick Company?
A)Customer knowledge is likely lost rather than passed on to the rest of the company.
B)The sales representative's territory is not maximized because of poor strategy.
C)The entire company's pipeline forecasts cannot be maintained or calculated.
D)Organizational culture is damaged because of a lack of team spirit.
E)Hiring practices are hindered because of poor mentoring methods.

Accepted Answer

A

Question 2

Which term best refers to a well-connected person who does not make the buying decision but has an impact on the person who does?
A)gatekeeper
B)referral
C)prospect
D)intermediary
E)center of influence

Accepted Answer

E

Question 3

Joe Girard's"Ferris wheel"concept assumes which of the following?
A)The optimal ratio of customers to prospects is 66 percent.
B)If the customers are sold the correct product and given good service,a company will not lose customers.
C)A certain number of customers will be lost every year by most companies.
D)Departing customers must be replaced by new customers at an equal rate.
E)Salespeople will do better prospecting when they think of the process as a roller coaster.

Accepted Answer

C

Question 4

Joe Girard's"Ferris wheel"concept illustrates how many calls it takes to close a sale.

Accepted Answer

Joe Girard's "Ferris Wheel" concept is about maintaining continuous contact with a large number of prospects, not specifically about how many calls it takes to close a sale. It emphasizes staying in touch with potential customers regularly to remain top of mind.

Question 5

Networking,as it applies to the field of selling,is a method of prospecting that:
A)utilizes the telephone and cold calling strategies
B)remains popular only in the telecommunications field
C)is seldom used today because of the rise of social media
D)is considered unethical in most industries because of lawsuits
E)relies on making contacts with people and profiting from the connections

Accepted Answer

The answer of Networking,as it applies to the field of...

Question 6

What will be the most likely outcome for Charles due to the retiring representative's lack of record-keeping?
A)Charles' sales will track way behind those of the retiring representative,and he will be docked pay and denied promotions.
B)Since Charles is starting from almost scratch developing a prospect and customer base,he will lose some current customers because he does not know about them.
C)Charles will be unlikely to develop sales presentation skills because of the time required to track referrals.
D)Since Charles does not need any information from the retiring representative,he will conduct more cold calls and develop a larger base of qualified customers.
E)Charles will continue maintaining the retiring representative's accounts as usual without any changes in strategy or implementation.

Accepted Answer

The answer of What will be the most likely outcome...

Question 7

A typical company will lose approximately what percent of its customers every year?
A)5 to 10
B)15 to 20
C)25 to 30
D)35 to 40
E)45 to 50

Accepted Answer

The answer of A typical company will lose approximately what...

Question 8

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

Accepted Answer

Trade shows are a great opportunity for prospecting as they provide a concentrated pool of potential customers who are interested in the industry or product being showcased. Exhibitors can easily identify good prospects and interact with them, leading to higher chances of closing sales. However, it still requires follow-up calls and nurturing the relationship to successfully close a sale from a trade show prospect.

Question 9

Which one of the following is a guideline for effective networking?
A)Limit the number of people you meet in a given setting.
B)When you meet someone,tell the person what you do.
C)Follow up on every contact you meet.
D)Always conduct business while networking.
E)Only offer a business card if the other person asks for it.

Accepted Answer

The answer of Which one of the following is a...

Question 10

Which publication would most likely provide a salesperson with detailed information on the citizens of a specific community?
A)Middle Market Directory
B)Thomas Register of American Manufacturers
C)Polk City Directory
D)Standard and Poor's Corporation Records Service
E)Encyclopedia of Associations

Accepted Answer

The answer of Which publication would most likely provide a...

Question 11

Networking is another word for prospecting.

Accepted Answer

Networking refers to the process of establishing and nurturing professional relationships, often to exchange information, advice, and support. Prospecting, on the other hand, specifically involves searching for potential customers or clients for business purposes.

Question 12

To increase the odds that customers will give referrals,a salesperson should most likely:
A)build value into the sales process
B)offer free products or discounts for referrals
C)motivate buyers through time pressure
D)provide a rational buying motive
E)ask sales managers for permission to cut prices

Accepted Answer

The answer of To increase the odds that customers will...

Question 13

Joe Girard,popular sales trainer and consultant,used the"________"concept to illustrate the relationship between prospecting and the loss of customers due to attrition.

Accepted Answer

The answer of Joe Girard,popular sales trainer and consultant,used the"________"concept...

Question 14

What should Charles most likely do?
A)He should quit the job because he cannot succeed in a territory that is disorganized and about which he has little information.
B)He should ask the manager for a list of orphaned customers and their contact information to develop potential referrals.
C)He should start fresh by developing his own prospect base and forget about the retiring representative's customers.
D)He should piece together his prospect base by asking the retiring representative for information and matching that information up with invoices from the billing department.
E)He should ask the other sales representatives in the department to each give him three or four of their prospects so that he can start to put together a prospect base.

Accepted Answer

The answer of What should Charles most likely do?
A)He should...

Question 15

Which term refers to a salesperson's brief,cold call opener that summarizes the salesperson's product and company?
A)elevator presentation
B)sales dashboard
C)pipeline speech
D)qualifying remarks
E)sales blog

Accepted Answer

The answer of Which term refers to a salesperson's brief,cold...

Question 16

Andrew McIlhern, a software sales representative, is not happy about giving up two days of making sales calls to work his company's booth in the exhibit hall of a major regional trade show. When Andrew consults with his company's exhibit manager, however, she urges him to use the time to prospect wisely.

-How can Andrew use those two days in the exhibit hall to increase his pipeline?
A)spend time studying product literature to increase his product knowledge
B)present to unqualified visitors to the booth to improve his elevator pitch
C)make calls to current customers during breaks to provide after-sale service
D)ask co-workers to call some of his prospects to obtain potential referrals
E)qualify prospects with a few questions when they first enter the booth

Accepted Answer

The answer of Andrew McIlhern, a software sales representative, is...

Question 17

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)networking
B)mail inquiry
C)cold canvass
D)referral
E)trade show

Accepted Answer

The answer of When a salesperson asks a customer to...

Question 18

Qualifying is the process of identifying prospects who should be contacted.

Accepted Answer

Qualifying involves identifying prospects who meet specific criteria and are likely to be interested in the product or service being offered. Once these prospects are identified, they can be contacted and pursued as potential customers.

Question 19

The goal of prospecting is to build a prospect base made up of current and potential customers.

Accepted Answer

The goal of prospecting is indeed to build a prospect base, which consists of both current customers and potential customers. This is essential for the growth and success of any business.

Question 20

A major barrier to prospecting is time. Therefore,salespeople should:
A)try to avoid spending time available for actual selling on prospecting
B)try to spend at least 50 percent of every week on prospecting
C)get involved in prospecting only after completing all regular selling activities
D)assign prospecting tasks to lower-level employees
E)integrate prospecting activities with regular selling duties

Accepted Answer

The answer of A major barrier to prospecting is time....

Quiz 9: Developing and Qualifying Prospects and Accounts

Which term best refers to a well-connected person who does not make the buying decision but has an impact on the person who does? A)gatekeeper B)referral C)prospect D)intermediary E)center of influence

Joe Girard's"Ferris wheel"concept illustrates how many calls it takes to close a sale.

A typical company will lose approximately what percent of its customers every year? A)5 to 10 B)15 to 20 C)25 to 30 D)35 to 40 E)45 to 50

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

Which publication would most likely provide a salesperson with detailed information on the citizens of a specific community? A)Middle Market Directory B)Thomas Register of American Manufacturers C)Polk City Directory D)Standard and Poor's Corporation Records Service E)Encyclopedia of Associations

Networking is another word for prospecting.

Joe Girard,popular sales trainer and consultant,used the"________"concept to illustrate the relationship between prospecting and the loss of customers due to attrition.

Which term refers to a salesperson's brief,cold call opener that summarizes the salesperson's product and company? A)elevator presentation B)sales dashboard C)pipeline speech D)qualifying remarks E)sales blog

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)networking B)mail inquiry C)cold canvass D)referral E)trade show

Qualifying is the process of identifying prospects who should be contacted.

The goal of prospecting is to build a prospect base made up of current and potential customers.