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?

Accepted Answer

Christopher is using the cold canvas prospecting method, which involves approaching potential customers without any prior introduction or referral. He is going door-to-door, knocking on every individual's door within his target area to offer his dog walking service.

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:

Accepted Answer

Marco is actively seeking out potential customers by going door-to-door and asking if people have any jobs for him. This falls under the category of prospecting, which is the process of identifying potential customers for a product or service.

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?

Accepted Answer

A detailed description of a potential national account would serve as a business plan for selling the prospect, outlining the strategy and tactics needed to successfully win the account.

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?

Accepted Answer

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 is referred to as the sales process. The other options are parts of or related to the sales process, but do not encompass the entire process.

Question 5

Which of the following would NOT be classified as a prospecting method?

Accepted Answer

Experimentation is not a prospecting method but rather a method of testing different strategies and approaches in sales. The other options, public exhibitions and demonstrations, cold canvas, endless chain, and observation are all commonly used prospecting methods in sales.

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?

Accepted Answer

Kara's old customers are referred to as "orphaned" because they were left without a designated sales representative when Kara left the company.

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?

Accepted Answer

The sales manager is telling Bernie to qualify his prospects by determining if they have Money, Authority, and Desire to buy. MAD stands for Money, Authority, and Desire. This will save Bernie time and help him focus his efforts on the most promising leads.

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?"

Accepted Answer

The most likely reason for Marie to join a "sales lead club" is to share leads and prospecting tips with other sales representatives.

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?

Accepted Answer

Amy's approach is known as "endless chain referral" where she seeks out referrals from her existing customers to expand her customer base.

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?

Accepted Answer

The answer of You have been tasked with explaining to...

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?

Accepted Answer

All of the choices listed can potentially provide Jessica with prospects and suspects. Personal acquaintances may be able to refer her to their friends and family members who are interested in cosmetics. The telephone directory and city directory may provide her with business listings or contact information for individuals who may be interested in her products. Newspapers may contain advertisements or feature stories that could attract potential customers. By exploring all of these options, Jessica can maximize her chances of finding a steady stream of prospects and suspects for her cosmetics business.

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?

Accepted Answer

The answer of Laura Mahoney is trying to increase sales...

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?

Accepted Answer

All of the listed methods are effective for identifying new prospects. Asking for referrals from current customers can lead to qualified leads, contacting orphaned accounts can uncover potential customers who have been neglected by other agents or companies, organizing a sales leads club can generate networking opportunities and potential prospects, and leveraging LinkedIn can allow John to connect with potential customers and build relationships. Using a combination of these methods may yield the best results.

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?

Accepted Answer

Contacting major buyers before the trade show may actually help establish a connection and increase the chances of a successful meeting at the trade show. It is important to approach them in a professional and non-pushy manner.

Question 15

Which of the following occurs before the sales presentation?

Accepted Answer

All of these activities occur before the sales presentation as they are part of the preparation and planning stages in the sales process.

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?"

Accepted Answer

The answer of Qualifying a lead involves determining if that...

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?"

Accepted Answer

The letter D stands for "desire" in the acronym MAD, which stands for "Money, Authority, Desire." This refers to the three key factors that influence whether a prospect is qualified to buy a product or service. "Desire" refers to the prospect's level of interest or need for the product or service.

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?

Accepted Answer

The text does not suggest asking if the prospect has the time to buy, as time is not typically a qualifying factor for determining a prospect's potential.

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?

Accepted Answer

The process of reviewing and determining if a lead has the potential to become a prospect is known as qualifying. Scheduling is the process of setting up appointments or meetings, networking involves building relationships and connections, routing is directing leads to the appropriate channels, and characterizing is a term that is not commonly used in sales or marketing.

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?

Accepted Answer

Qualifying is the process of determining whether a potential customer has the financial means and interest to purchase a product or service. In this scenario, Ann's husband is trying to determine if Spencer's Deli has the financial ability to purchase the tables and chairs, which makes "qualifying" the best choice. "Closing" refers to the process of finalizing a sale, "database marketing" is a marketing strategy that involves collecting and analyzing customer data to target marketing efforts, "bird dogging" is a term used in sales to describe the process of identifying potential customers through referrals, and "leading" refers to guiding a potential customer towards making a purchase.

Quiz 6: Prospecting : The Lifeblood of Selling