Deck 6: Prospecting : The Lifeblood of Selling

Question 1

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

Answer 1

D

Question 2

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

Answer 2

A

Question 3

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

Answer 3

E

Question 4

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 5

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 6

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 7

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 8

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 9

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 10

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 11

Jessica sells cosmetics.She has asked you to recommend a source of prospects and suspects.Which of the following would be a possible place for Jessica to locate prospects and suspects?

A) personal acquaintances
B) the telephone directory
C) newspapers
D) a city directory
E) all of these choices are correct

Question 12

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) none of these choices are correct

Question 13

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 be good methods 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) All of these choices are correct

Question 14

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) Practise 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 15

Which of the following occurs before the sales presentation?

A) qualifying
B) obtaining an appointment
C) prospecting
D) pre-approach planning
E) all of these choices are correct

Question 16

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 17

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 18

Which of the following questions is NOT 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 money to buy?
C) Does the prospect have the desire to buy?
D) Does the prospect have the authority to buy?

Question 19

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 20

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 21

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 22

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 23

Susan is going through a bit of a sales slump.No matter what she does,she seems unable to book any meetings with potential clients.She approaches you and asks for some tips on how to get her out of her sales slump.Which of the following is NOT likely to be advice you would provide?

A) Stay calm and do not panic
B) Be positive and focus on what you are trying to accomplish
C) It is not you it is the product; therefore, your slump will not change unless you have a better product to sell
D) Get your manager to review your approach and sales pitch
E) Keep trying and don't give up - get back to the basics

Question 24

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 25

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

A) cold canvassing
B) direct mail
C) observation
D) public demonstration or exhibitions
E) no one method of prospecting is always the best one to use

Question 26

Geographic,Demographic,Product,and Other Indicators are all information found in what source of leads:

A) Yellow Pages
B) Vernon City Directory
C) City Hall licensing department
D) Scott's Canadian Business Directory
E) Orphaned Account Lists

Question 27

Which of the following is NOT a very good source of leads for a photocopier salesperson?

A) Orphaned customers
B) Non competing Salespeople
C) Educational Seminars
D) Casual observation on a public street
E) Centres of Influence

Question 28

Which of the following best describes the notion of an orphaned customer?

A) do not have a parent corporation
B) come from sales lead clubs
C) do not currently have a salesperson servicing them
D) a client that tends to be moved around from salesperson to salesperson
E) you get while cold calling

Question 29

If salespeople don't work diligently to keep it full then dry spells will certainly ensue.What term best describes the process that starts with prospects and ends with follow up?

A) The roller coaster
B) Prospect List
C) The Sales Funnel
D) Semi Annual Sales Quota
E) The Merry go Round

Question 30

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 31

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 32

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) all of these methods are best practices

Question 33

In Prospecting,what does Motives,Means,and Opportunity really mean?

A) what police departments use to help them solve crimes
B) key buying criteria used by customers when making a purchase decision
C) tools used by sales people to help them determine a prospect's ultimate 'close-ability'
D) tools used by sales managers to help motivate their sales force
E) none of these choices are correct

Question 34

You have been asked to lead a sales class at a local university.During your lecture,one of the students asks you about the notion of an "endless chain." Which of the following is likely to be included in your answer to the student?

A) a long chain of command within a company
B) a parallel referral cycle also called a "chain with no end"
C) a global selling approach
D) a method of prospecting using referrals to keep your prospect list strong
E) a method of organizing your sales territory

Question 35

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 36

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 your 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 37

When prospecting,which of the following questions are important to have asked yourself?

A) Are you concentrating on leads with the best potential?
B) Have you defined your "ideal" customer?
C) Have you researched your prospect's buying cycle?
D) Are you calling on the right people?
E) All of these choices are correct.

Question 38

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 39

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 thing 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 40

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 41

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

Question 42

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

Question 43

On her computer desktop,Jane's boss noticed that she had links to Facebook,Twitter,and LinkedIn.Her boss felt that Jane was probably misusing the company computer and wasting time.As Jane was a top sales performer,she was more likely using these tools for what kind of activity?

A) prospecting using social media
B) networking with her friends
C) maintaining her social relationships
D) managing her social calendar
E) communicating with her family

Question 44

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

Question 45

Orphaned customers are great prospects.

Question 46

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 47

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

Question 48

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 49

Which of the following is good advice for the salesperson experiencing a slump?

A) focus on what you're trying to accomplish and stay positive
B) ask a colleague or manager to review sales tactics with you
C) work a little harder-good things happen to those who work hard
D) get back to basics-determine what has worked for you and reconnect with them
E) all of these choices are correct

Question 50

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

Question 51

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

Question 52

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

Question 53

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 54

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

Question 55

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

Question 56

Qualifying leads is the first step in the selling process.

Question 57

Daniel has been known to spend an hour each morning sitting in front of his computer researching potential customers.What kind of activity is Daniel engaged in?

A) closing e-sales
B) competitive analysis
C) e-prospecting
D) blogging
E) tweeting

Question 58

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 59

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

Question 60

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

Question 61

Explain the underlying premise of the Sales Funnel.

Question 62

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

Question 63

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

Question 64

Identify and describe the ten steps in the sales process.

Question 65

Describe a process you would use to create a list of qualified prospects?

Question 66

Which method of prospecting is considered the 'toughest one' and,why?

Question 67

List the four main sources for a prospect pool.

Question 68

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

Question 69

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

Question 70

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 71

Explain the 'Ferris wheel' concept of prospecting.

Question 72

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.