Deck 6: Prospectingthe Lifeblood of Selling

Question 1

A simple way to remember the steps of the sales process is to use the acronym MAD.

Answer 1

False

Question 2

Trade shows are rarely worth the salesperson's time since there are only a few minutes to qualify leads and get the information necessary to conduct a sales call later.

Answer 2

False

Question 3

The salesperson that uses the LinkedIn to find prospects is engaged in prospecting on the Web

Answer 3

True

Question 4

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

Question 5

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

Question 6

A prospect is a qualified business that has the potential to buy a salesperson's product.

Question 7

Networking is the second step in the selling process after preapproach planning.

Question 8

Successful prospecting requires a strategy.

Question 9

Telemarketing involves the use of trained personnel to conduct planned, measurable marketing activities directed at targeted groups of consumers.

Question 10

A prospect can also be referred to as a lead.

Question 11

Selling a product to a prospect is usually easier than selling to a satisfied customer.

Question 12

Preapproach is the first step in the selling process.

Question 13

For success at trade shows, memorize your sales pitch so that you get your message across succinctly.

Question 14

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

Question 15

Success in selling requires a significant amount of preparation.

Question 16

The sales process is 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 17

The endless chain referral method of prospecting is a very effective method for finding customers.

Question 18

A salesperson must always search for new prospects to increase sales and replace previous customers.

Question 19

In the two years Ronald has been selling, he has built up a list of inactive accounts. He should now orphan these accounts and try to develop new prospects.

Question 20

A guideline provided in the text states that good selling involves 40 percent presentation, 20 percent preparation, and 40 percent follow-up.

Question 21

LinkedIn, a popular social networking website for businesses and their employees, has emerged as a method to assist in the prospecting process.

Question 22

When the salesperson makes an appointment with a prospect, it is often viewed as a sign of respect toward the prospect.

Question 23

Many prospects will hang up the phone as soon as they suspect an attempt is being made to sell them something.

Question 24

Obtaining referrals is a continuous process for salespeople.

Question 25

According to the Core Principles of Professional Selling, referrals are gained by:

A) encouraging customers to hear to what you are saying.
B) demonstrating how much you want to succeed.
C) demonstrating integrity with customers.
D) following the 80/20 principle of selling.
E) making sure every sale results in a purchase.

Question 26

A prospect pool generally includes orphaned customers.

Question 27

The product delivery phase most likely represents the end of a relationship with a client if continued service is unnecessary.

Question 28

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

Question 29

Fifty percent of your first conversation with networking prospects should be about your business.

Question 30

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

Question 31

The presentation phase of the referral cycle begins when you sit down with your prospects for a sales presentation.

Question 32

CRM technology can assist the firm and its salesforce in the prospecting process.

Question 33

The most successful salespeople never experience call reluctance.

Question 34

Time spent waiting to see a prospect is a good time for a salesperson to relax and get his mind off business.

Question 35

Successful use of the telephone in appointment scheduling requires a chatty message that hints of a desire to establish a long-term relationship with the prospect.

Question 36

Respect, trust, and friendship are three key elements of a successful sales career.

Question 37

Cultivating a network involves meeting reputable people who have many valuable contacts.

Question 38

The sales presentation provides salespeople with very little opportunity to influence a prospect.

Question 39

One excellent way for a salesperson to obtain an appointment with a prospect is to have a customer make the appointment for the salesperson.

Question 40

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

Question 41

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:

A) discernment.
B) determination.
C) discretion.
D) desire.
E) dedication.

Question 42

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

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

Question 43

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

A) Authority
B) Awareness
C) Audacity
D) Alacrity
E) Attitude

Question 44

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:

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

Question 45

________ 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 preapproach

Question 46

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:

A) potential referral.
B) qualified prospect.
C) network prospect.
D) qualified referral.
E) network agent.

Question 47

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

A) The selling process has 10 steps.
B) Some steps in the selling process occur simultaneously.
C) Prospecting is the second step in the selling process.
D) Preapproach planning is the third step in the selling process.
E) Trial close is the last step in the selling process.

Question 48

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

A) suspect.
B) volunteer.
C) lead.
D) partner.
E) prospect.

Question 49

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.

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

Question 50

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

A) The customers may believe a competitor's services create more value
B) Some customers may literally go out of business
C) The customers may merge or be acquired
D) The customers feels that the salesperson is not responding to their calls
E) Certain customers may no longer need the salesperson's services due to change of business

Question 51

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.

A) money
B) motivation
C) mission
D) mentality
E) mindset

Question 52

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

A) Trial close
B) Determining objections
C) Follow-up
D) Preapproach
E) Close

Question 53

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

A) the approach.
B) handling objections.
C) the follow-up.
D) the trial close.
E) meeting objections.

Question 54

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

A) fill-in otherwise unproductive parts of the day.
B) gain additional sales presentation experience.
C) fulfill corporate social responsibilities.
D) prevent the loss of current customers.
E) increase product sales.

Question 55

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

A) Lead generation
B) Qualifying a lead
C) Lead development
D) Preapproach
E) Approach

Question 56

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

A) Customer mapping
B) Prospecting
C) E-selling
D) Data mining
E) Contact management

Question 57

Which of the following occurs before the sales presentation?

A) Trial close
B) Determining objections
C) Preapproach
D) Follow-up
E) Meeting objections

Question 58

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?

A) She should prioritize the information in a method that can be readily acted upon
B) She should make herself available via social media platforms and email after the webinar to answer additional questions
C) She should be well versed in the technology and its application in a customer setting
D) She should be able to answer questions that may get asked during the webinar
E) Sell the product during the webinar

Question 59

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:

A) target.
B) closer.
C) referral.
D) prospect.
E) gatekeeper.

Question 60

Why do salespeople constantly search for new prospects?

A) Conduct e-sales
B) Maintain sales licenses
C) Train new salespeople
D) Replace customers lost over time
E) Monitor the accounts of current customers

Question 61

Duncan Stewart was hired to replace Orlando Burton as a sales representative for a local television station. On his first day at work, Stewart was given a list of Burton's previous customers. Because Burton is no longer selling to these customers, they had become:

A) cold prospects.
B) orphaned.
C) uncommitted.
D) repositioned.
E) referred.

Question 62

Kylie Lumberton was hired by a cosmetics company to replace a former employee. She did not know where to start looking for customers to start her sales. The ideal place for her to start would be:

A) sales lead clubs.
B) cold canvassing.
C) orphaned customers.
D) customer referrals.
E) prospecting on the web.

Question 63

Which of the following is NOT a prospecting method?

A) Prospecting on the web
B) Center of influence
C) Endless chain
D) Social media platforms
E) Tracking

Question 64

Which of the following statements holds true of e-mail marketing?

A) In order to generate leads, firms may purchase lists of potential contacts, including their email addresses.
B) The firm e-mails opportunities, offers and invitations to potential customers.
C) If the e-mail garners interest, the customer may respond to the firm.
D) The salesperson contacts the lead, if customer shows interest in firm's offers and invitations.
E) The salesperson contacts the prospects irrespective of their interest in offers and invitations.

Question 65

If past experience reveals that 1 person out of 10 will buy a product, then 50 sales calls could result in five sales. This is an example of:

A) cold canvassing.
B) endless chain referral method.
C) center of influence.
D) networking.
E) one-to-one referral method.

Question 66

All of the following are examples of prospecting methods EXCEPT:

A) social media platforms.
B) cold canvass.
C) experimentation.
D) endless chain.
E) observation.

Question 67

The two best sources of future sales are:

A) customers and customers' referrals.
B) colleagues and centers of influence.
C) customers and centers of influence.
D) sales lead clubs and referrals.
E) orphaned and current customers.

Question 68

When Janice Garcia left her pharmaceutical sales job to take a management position, her customers became:

A) suspects.
B) repositioned.
C) new segments.
D) orphaned.
E) quarantined.

Question 69

Nicole works for a reputed company that operates within the construction industry. Nicole recently learned that a civil engineering company has secured a large account via the search updates featured in LinkedIn. Nicole decides to send a congratulatory note to the engineering firm and also initiate a communication regarding a new product line for the construction industry that the company may find useful. Nicole is using the ________ method of prospecting.

A) public demonstration
B) group
C) referral
D) social media platforms
E) endless chain

Question 70

Lydia sells an exclusive range of cosmetic products. She makes door-to-door sales calls. At each house after a sale she asks the homeowner if they know anyone who would be interested in her products. What prospecting method does Lydia use?

A) Center of influence
B) Cold canvas
C) Group
D) Endless chain
E) Observation

Question 71

Sharon Trevor has a collection of hand-tied fishing flies left to her by her great-grandfather. She has been told they are valuable and would like to sell them. She has used LinkedIn and Facebook to locate dealers of antique fishing gear who might be interested in purchasing the fishing flies. In other words, Trevor has engaged in:

A) teleprospecting.
B) prospecting on the web.
C) direct marketing.
D) direct selling.
E) data mining.

Question 72

Sandra Gonzalez has been an independent sales contractor for the past eight years. To remain in touch with today's tech savvy consumers and generate leads, she has decided to create brief and easily accessible on-demand videos showing the different products and their use. Identify this type of sales prospecting.

A) Cold canvassing
B) Prospecting on the web
C) Endless Chain
D) Customer referrals
E) Orphaned customers

Question 73

Corrine is trying to make some extra money for college. She has made several handbags, eyeglass cases, and bookmarks out of duct tape. She sells her crafts by going door-to-door in the apartment complex where she lives. Corrine is using the ________ method of prospecting.

A) cold canvass
B) center of influence
C) concentration
D) endless chain
E) networking

Question 74

When a customer refers the salesperson to someone she knows, it is called a(n):

A) limited chain referral method.
B) unlimited chain referral method.
C) chain referral method.
D) one-to-one referral method.
E) endless chain referral method.

Question 75

Which term refers to a person recommended as someone who would benefit from a salesperson's product or service?

A) Prequalified customer
B) Referral
C) Rival customer
D) Orphan
E) Telemarketing agent

Question 76

Abel, a teenager, is trying to earn money by operating a dog walking service. Abel is knocking on the door of every dog owner within a six-block radius of his house and asking if the homeowner would like to use his service. Abel is using the ________ method of prospecting.

A) Prospecting on the web
B) group
C) referral
D) cold canvass
E) endless chain

Question 77

Identify the prospecting method that is based on the law of averages.

A) Cold canvassing
B) Orphaned customers
C) Center of influence
D) Networking
E) Sales lead clubs

Question 78

Orphaned customers are best described as the:

A) customers of a salesperson who has left the company.
B) prospects who have declined to make a purchase.
C) leads generated through a direct mail program.
D) solid referrals of long-term customers.
E) customers that have failed to pay.

Question 79

Which of the following statements is NOT true about the endless chain referral method of prospecting?

A) Satisfied customers are likely to buy again from the salesperson.
B) The customer often refers the salesperson to friends and acquaintances.
C) It is a very effective method for finding customers.
D) It involves asking the customer if they know others who might be interested in the product.
E) It involves a group of salespeople in related fields meeting regularly to share sales leads.

Question 80

Donald Williams sells home gutter systems guaranteed to last for 20 years. After every sale, Williams asks his customers for the names of several friends who might be interested in learning about his gutter products. Williams is using the ________ method of prospecting.

A) center of influence
B) cold canvass
C) group
D) endless chain
E) observation