Question 1

Studies show that the average company loses what percentage of customers each year?&#10;A) 60-65%&#10;B) 75-80%&#10;C) 15-20%&#10;D) 25-30%&#10;E) 5-10%

Accepted Answer

Studies typically indicate that the average company loses about 15-20% of its customers each year due to various factors such as competition, dissatisfaction, or changes in customer needs.

Question 2

Matching&#10;&#10;-A large exhibit of products common to one industry&#10;A) Trade Show&#10;B) endless chain referrals&#10;C) computerized databases&#10;D) educational seminars&#10;E) cold calling&#10;F) telemarketing&#10;G) sales process model&#10;H) prospecting plan&#10;I) qualifying question

Accepted Answer

A trade show is a large exhibit where products and services related to a specific industry are showcased to potential buyers and industry professionals.

Question 3

Matching&#10;&#10;-At the conclusion of a sale, the salesperson asks the customer for names of other people who might benefit from owning the product.&#10;A) Trade Show&#10;B) endless chain referrals&#10;C) computerized databases&#10;D) educational seminars&#10;E) cold calling&#10;F) telemarketing&#10;G) sales process model&#10;H) prospecting plan&#10;I) qualifying question

Accepted Answer

This technique is known as "endless chain referrals," where a salesperson asks a satisfied customer to refer other potential customers who might be interested in the product.

Question 4

Matching&#10;&#10;-Keeping detailed information on customers and using it to personalize the selling process&#10;A) Trade Show&#10;B) endless chain referrals&#10;C) computerized databases&#10;D) educational seminars&#10;E) cold calling&#10;F) telemarketing&#10;G) sales process model&#10;H) prospecting plan&#10;I) qualifying question

Accepted Answer

Computerized databases are used to store detailed information on customers, which can then be used to personalize the selling process.

Question 5

Matching&#10;&#10;-A prospecting method used successfully by many banks, investment firms, accounting firms, and consulting companies&#10;A) Trade Show&#10;B) endless chain referrals&#10;C) computerized databases&#10;D) educational seminars&#10;E) cold calling&#10;F) telemarketing&#10;G) sales process model&#10;H) prospecting plan&#10;I) qualifying question

Accepted Answer

Educational seminars are a prospecting method used successfully by many banks, investment firms, accounting firms, and consulting companies to attract potential clients by providing valuable information and establishing credibility.

Question 6

Matching&#10;&#10;-Used by new companies in order to win acceptance for new products or services&#10;A) Trade Show&#10;B) endless chain referrals&#10;C) computerized databases&#10;D) educational seminars&#10;E) cold calling&#10;F) telemarketing&#10;G) sales process model&#10;H) prospecting plan&#10;I) qualifying question

Accepted Answer

The answer of Matching&#10;&#10;-Used by new companies in order to...

Question 7

Matching&#10;&#10;-Using telephone contact to prospect, qualify, sell and service customers&#10;A) Trade Show&#10;B) endless chain referrals&#10;C) computerized databases&#10;D) educational seminars&#10;E) cold calling&#10;F) telemarketing&#10;G) sales process model&#10;H) prospecting plan&#10;I) qualifying question

Accepted Answer

Telemarketing involves using telephone contact to prospect, qualify, sell, and service customers.

Question 8

Matching&#10;&#10;-Five steps; qualifying, needs analysis, presentation/proposal, negotiation and order&#10;A) Trade Show&#10;B) endless chain referrals&#10;C) computerized databases&#10;D) educational seminars&#10;E) cold calling&#10;F) telemarketing&#10;G) sales process model&#10;H) prospecting plan&#10;I) qualifying question

Accepted Answer

The five steps listed are part of the sales process model, which includes qualifying, needs analysis, presentation/proposal, negotiation, and order.

Question 9

Matching&#10;&#10;-Approach prospects in a orderly fashion&#10;A) Trade Show&#10;B) endless chain referrals&#10;C) computerized databases&#10;D) educational seminars&#10;E) cold calling&#10;F) telemarketing&#10;G) sales process model&#10;H) prospecting plan&#10;I) qualifying question

Accepted Answer

A prospecting plan is a systematic approach to identifying and reaching out to potential customers in an organized manner.

Question 10

Matching&#10;&#10;-&#34;When will you be replacing your computer systems?&#34;&#10;A) Trade Show&#10;B) endless chain referrals&#10;C) computerized databases&#10;D) educational seminars&#10;E) cold calling&#10;F) telemarketing&#10;G) sales process model&#10;H) prospecting plan&#10;I) qualifying question

Accepted Answer

The question "When will you be replacing your computer systems?" is a qualifying question used to determine the potential timing and readiness of a prospect to make a purchase or upgrade decision.

Deck 9: Developing and Qualifying a Prospect Base