Sales Management Quiz 7

The sales funnel model of classifying prospects involves:

determining where a prospect is in the sales process

Ashima Lin has just been hired by Pinnacle Company to replace a sales representative who is retiring after 40 years with the company. The older representative is training Ashima on procedures and customers in their territory for three weeks before retiring, and Ashima knows this is a huge opportunity to learn about the prospect base. When Ashima 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." Ashima is concerned. She used Salesforce in college and knows how vital it is to have customer information, sales records, preferences, and conversations recorded. She talks to the sales manager, who tells her the representative's sales were decent, and all their invoices came in, so they left them alone and never forced them to use the CRM system.

Which of the following is NOT an indication of a qualified prospect?

They have been employed at the firm a long time.

The basic lead-qualifying criteria are ________.

prospect need, authority to buy, financial resources to buy, and willingness to buy

Two popular models salespeople use for performing account analysis and what sales strategies to use are the ________.

portfolio model and the sales process model

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?

qualify prospects with a few questions when they first enter the booth

Which one of the following is a guideline for effective networking?

When you meet someone, tell the person what you do.

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

False

Grackin Corporation is expanding into a new territory in which they are not as well-known as they are in their current territories. As part of this new push, the sales director decides to use a strategy that involves making aggressive cold-calls and hosting frequent educational seminars. The sales director also intends to prospect using online resources.

How will the sales cycle in this new territory most likely compare in length to the cycle in the established territories of Grackin Corporation?

It will be longer, because the salespeople will have to introduce the company in cold calls instead of getting name recognition from prospects.

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?

center of influence

Joe Girard's "Ferris Wheel" concept assumes which of the following?

A certain number of customers will be lost every year by most companies.

Which of the following questions is most relevant to qualifying a prospect?

Can the prospect make the buying decision?

Using an existing customer as an intermediary (presentation of a letter or note) can reduce the amount of time spent on prospecting.

True

________ is the process of identifying prospects who have a need for your product and should be contacted.

Qualifying

One way to improve the quality of the prospecting effort is to increase the number of accounts who board the Ferris wheel.

True

Grackin Corporation is expanding into a new territory in which they are not as well-known as they are in their current territories. As part of this new push, the sales director decides to use a strategy that involves making aggressive cold-calls and hosting frequent educational seminars. The sales director also intends to prospect using online resources.

After an educational seminar, Grackin sales representatives are excited because they experience a major increase in the number of potential prospects. However, Anita, the Grackin sales manager, makes the following statement to the sales team: "The sheer number of prospects a sales representative cultivates does not necessarily indicate the quality of the sales representative's pipeline." What does Anita most likely mean?

Prospects are only valuable if they are qualified, so a few qualified prospects are better than many unqualified ones.

Ashima Lin has just been hired by Pinnacle Company to replace a sales representative who is retiring after 40 years with the company. The older representative is training Ashima on procedures and customers in their territory for three weeks before retiring, and Ashima knows this is a huge opportunity to learn about the prospect base. When Ashima 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." Ashima is concerned. She used Salesforce in college and knows how vital it is to have customer information, sales records, preferences, and conversations recorded. She talks to the sales manager, who tells her the representative's sales were decent, and all their invoices came in, so they left them alone and never forced them to use the CRM system.

What will be the most likely outcome for Ashima due to the retiring representative's lack of record-keeping?

Since Ashima is starting from almost scratch developing a prospect and customer base, she will lose some current customers because she does not know about them.

In most cases, referral leads result in higher close rates, larger sales, and shorter sales cycles.

True

Which of these questions is NOT something a salesperson can ask themselves to help qualify a prospect more rapidly?

Does the prospect have good rapport with the salesperson?

Ashima Lin has just been hired by Pinnacle Company to replace a sales representative who is retiring after 40 years with the company. The older representative is training Ashima on procedures and customers in their territory for three weeks before retiring, and Ashima knows this is a huge opportunity to learn about the prospect base. When Ashima 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." Ashima is concerned. She used Salesforce in college and knows how vital it is to have customer information, sales records, preferences, and conversations recorded. She talks to the sales manager, who tells her the representative's sales were decent, and all their invoices came in, so they left them alone and never forced them to use the CRM system.

What should Ashima most likely do?

She should piece together her prospect base by asking the retiring representative for information and matching that information up with invoices from the billing department.

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?

referral