Question 1

What is the fourth step of a strategic prospecting plan?

Accepted Answer

The fourth step of a strategic prospecting plan is to evaluate the effectiveness of prospecting activities to ensure that the strategies are working and to make necessary adjustments.

Question 2

Good salespeople do not need to prospect, as customers come to them.

Accepted Answer

Even the best salespeople need to continuously prospect for new customers and opportunities. Reliance solely on existing customers or referrals may lead to a limited pipeline and potential for business growth.

Question 3

According to the textbook, the main reason that salespeople dislike prospecting is that it is too time-consuming in comparison to the results generated.

Accepted Answer

The main reason salespeople dislike prospecting is often due to the fear of rejection, not because it is too time-consuming.

Question 4

Natalie has been a salesperson for the past two years. Although prospecting is a big part of her job, she is not sure how well her prospecting methods are working. What should she develop?

Accepted Answer

Developing a tracking system will help Natalie evaluate the effectiveness of her prospecting methods by allowing her to see which methods are generating the most leads and conversions. This will help her identify areas for improvement and make adjustments to her prospecting strategy. While developing a referral list, a list of lead generation methods, and a list of prospecting methods are all important, they won't necessarily provide Natalie with the data she needs to make informed decisions about her prospecting approach.

Question 5

According to the textbook, once potential customers have been identified, what should a salesperson do next?

Accepted Answer

After identifying potential customers, the next step for a salesperson is to begin gathering precall information to prepare for an effective sales approach tailored to the prospect's needs and situation.

Question 6

In general, most prospects are eager to meet with salespeople.

Accepted Answer

This statement is false. While some prospects may be interested in meeting with salespeople, many others may not be receptive or may be skeptical of the salesperson's intentions. It is important for salespeople to approach prospects with respect and a willingness to listen in order to build trust and establish a positive relationship.

Question 7

Suppose you are a salesperson working for a manufacturer of business machinery. While gathering precall information you learn that a prospect you are preparing to call on is actually a member of a buying team. Which statement best represents what you should do next?

Accepted Answer

Identifying the role of each member of the buying team and the amount of influence each exerts will allow the salesperson to tailor their approach and focus their selling efforts towards each decision maker's specific needs and interests. This will increase the likelihood of the entire buying team being satisfied with the proposed solution and making a purchase. Focusing only on one decision maker or purchasing agent may not lead to the desired outcome. Distributing a sales proposal without further engagement with the entire buying team may also hinder the salesperson's ability to build relationships and close the sale.

Question 8

The strategic prospecting process is often illustrated as an inverted closed-end funnel.

Accepted Answer

The strategic prospecting process is typically illustrated as a funnel, but not an inverted one. It starts wide at the top with many potential prospects and narrows down as prospects are qualified and moved through the sales process.

Question 9

Getting past the gatekeeper in an organization to make contact with decision makers is one of a salesperson's greatest challenges with prospecting.

Accepted Answer

This statement is true. Gatekeepers are employees who are responsible for managing incoming calls, emails, and visitors, and their role is to filter out potential time-wasters and ensure that only relevant communication reaches the decision-makers. Salespeople have to find ways to get past these gatekeepers to reach the decision-makers and pitch their products or services. It requires creativity, persistence, and a willingness to build relationships over time.

Question 10

With respect to sales prospecting, the only difference between a "suspect" and a prospect is how much money the person has available to spend on the product or service in consideration.

Accepted Answer

The difference between a suspect and a prospect is not just about how much money they have available to spend on the product or service. A suspect is someone who may or may not have a need for the product or service, while a prospect is someone who has shown interest and has the potential to become a customer. Money is just one factor that determines if someone can become a customer, but it's not the only factor. Other factors, such as their level of interest, suitability, and fit, also play a role in determining if someone is a prospect or not.

Question 11

For most salespeople, achieving sales growth objectives requires finding a balance between generating additional business from existing customers and finding new customers.

Accepted Answer

This statement is true. Sales growth can come from both finding new customers and increasing business from existing ones. Successful salespeople often work to balance these two strategies in order to achieve their objectives.

Question 12

The basic purpose of strategic prospecting is to identify leads.

Accepted Answer

The answer of The basic purpose of strategic prospecting is...

Question 13

Salespeople should spend time prospecting on a regular basis because there is typically a considerable time lag between the commencement of prospecting and the conversion of prospects to customer status.

Accepted Answer

Prospecting is the process of identifying and reaching out to potential customers. It is essential for salespeople to dedicate a regular amount of time to prospecting because it takes time to build relationships and convert prospects into customers. This time lag can be significant, and consistent prospecting efforts can help ensure a steady stream of new business.

Question 14

Gina, a salesperson for ABC Corp., spends a lot of time interviewing her prospects so she can learn their names, interests, and job responsibilities. What should Gina probably spend more time doing?

Accepted Answer

While it is important to build a rapport with prospects and get to know their names, interests, and job responsibilities, it is even more important to obtain precall information on the prospect. This can help Gina tailor her pitch to the prospect's specific needs and interests, increasing the likelihood of making a successful sale.

Question 15

What is the purpose of gathering precall information?

Accepted Answer

Gathering precall information helps the salesperson to tailor the sales presentation to fit the buyer's needs, develop rapport with the prospect and ultimately increase the chances of making a sale.

Question 16

The basic purpose of strategic prospecting is to help salespeople determine the best sales opportunities in the most efficient way.

Accepted Answer

Strategic prospecting involves analyzing potential customers and identifying the ones that are most likely to buy from the salesperson. This helps the salesperson focus their efforts on the most promising opportunities and maximize their chance of success while minimizing the amount of time and resources they need to spend on less productive leads.

Question 17

Craig is a salesperson for an industrial equipment company. He calls on factories and spends most of his time talking with equipment operators who work on the factory floor. While Craig is able to get the equipment operators interested in his products, he is often unable to make a sale. What does Craig need to work on?

Accepted Answer

Craig needs to identify and engage other individuals who influence purchasing decisions, such as managers or procurement officers, in addition to the equipment operators.

Question 18

Prospects may be reluctant to see a salesperson if they have never heard of the salesperson's firm.

Accepted Answer

Prospects are more likely to feel comfortable seeing a salesperson if they have some familiarity with the company the salesperson represents. If they've never heard of the company, they may be hesitant to engage with the salesperson as they don't know what they might be dealing with.

Question 19

Highly productive salespeople have much narrower sales funnel bottoms than less productive salespeople.

Accepted Answer

Highly productive salespeople typically have wider sales funnel bottoms because they are more effective at converting leads into sales, resulting in a higher number of successful deals.

Question 20

Which statement about evaluating prospecting activities is most accurate?

Accepted Answer

Evaluating prospecting activities on a continuous basis allows salespeople to make timely adjustments to their strategies, ensuring they are always aligned with their goals and market conditions. This approach is more effective than periodic evaluations.

Quiz 5: Strategic Prospecting and Preparing for Sales Dialogue