Question 1

What method of locating sales prospects involves a salesperson or another company representative calling the prospect by telephone?

Accepted Answer

A)   outbound telemarketing
B)   networking
C)   commercial data-mining
D)   cold canvassing

Question 2

According to the textbook, why do salespeople often find it difficult to allocate time for prospecting?

Accepted Answer

A)   They are too busy looking after existing clients.
B)   They see prospecting as an activity with a low probability of success.
C)   Most sales managers put a low priority on activities related to prospecting for new business.
D)   They fear the rejection that comes with prospecting for new business.

Question 3

Which statement about evaluating prospecting activities is most accurate?

Accepted Answer

A)   Salespeople should evaluate their prospecting activities once a year.
B)   Salespeople should evaluate their prospecting activities twice a year.
C)   Salespeople should have their sales managers evaluate their prospecting activities twice a year.
D)   Salespeople should evaluate their prospecting activities on a continuous basis.

Question 4

What is the part of a strategic prospecting plan that records comprehensive information about the prospect, traces the prospecting methods used, and chronologically archives outcomes from any contacts with the prospect?

Accepted Answer

A)   administrative follow-up
B)   tracking system
C)   time allocation mechanism
D)   performance feedback system

Question 5

Damien is a salesperson who relies on his current customers to help him identify potential new customers. Which method for lead generation is Damien relying on?

Accepted Answer

A)   cold calling
B)   referral
C)   company source
D)   customer source initiative

Question 6

What is the fourth step of a strategic prospecting plan?

Accepted Answer

A)   set goals for prospecting activities
B)   allocate specific times for prospecting activities
C)   track results of prospecting activities
D)   evaluate the effectiveness of prospecting activities

Question 7

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

A) True 
 B)False

Question 8

What is the term for organizations or individuals who might possibly purchase the product or service a salesperson offers?

Accepted Answer

A)   strategic potentials
B)   sales leads (suspects) 
C)   sales prospects
D)   target markets

Question 9

Although the salesperson will be dealing with the contact, it is extremely important for the salesperson to gain some information on the contact's company prior to making the sales call.

Accepted Answer

A) True 
 B)False

Question 10

Marc is a salesperson for a large consumer products manufacturer. He has just taken over a new territory and wants to begin the prospecting process. What is the first thing he should develop?

Accepted Answer

A)   a list of leads
B)   a list of qualified prospects
C)   a strategic prospecting plan
D)   a territory plan

Question 11

Due to the time involved, the strategic prospecting plan should not be evaluated on any more than an annual basis.

Accepted Answer

A) True 
 B)False

Question 12

Which sales prospecting method uses business and municipal directories and commercial lead lists?

Accepted Answer

A)   cold canvassing
B)   networking
C)   company sources
D)   published sources

Question 13

What is the term for an individual or organization that has a need for the product or service, has the budget or financial resources to purchase the product or service, and has the authority to make the purchase decision?

Accepted Answer

A)   a customer
B)   a sales prospect
C)   a target customer
D)   a sales lead (suspect)

Question 14

Which statement best describes the basic purpose of strategic prospecting?

Accepted Answer

A)   to help salespeople determine the best sales opportunities in the most efficient way
B)   to improve the process of generating leads
C)   to streamline the process of identifying, qualifying, and prioritizing sales opportunities
D)   to improve the success rate of converting prospects into customers

Question 15

What has replaced cold calling as a major source of new customers?

Accepted Answer

A)   networking
B)   Web-based marketing
C)   trade shows
D)   advertising

Question 16

What is the second step of a strategic prospecting plan?

Accepted Answer

A)   set goals for prospecting activities
B)   allocate specific times for prospecting activities
C)   track results of prospecting activities
D)   evaluate the effectiveness of prospecting activities

Question 17

Once a prospect has been identified, a salesperson should attempt to make contact as soon as possible so that the lead does not go cold.

Accepted Answer

A) True 
 B)False

Question 18

Even if that person is a member of a buying team, the contact (whom the salesperson is calling on) always has the most influence over the buying decision.

Accepted Answer

A) True 
 B)False

Question 19

According to the textbook, social media such as Facebook and MySpace have proven to be excellent prospecting tools for salespeople.

Accepted Answer

A) True 
 B)False

Question 20

The process of searching out, collecting, and analyzing information to determine the likelihood of a sales lead being a good candidate for making a sale is known as qualifying.

Accepted Answer

A) True 
 B)False

Exam 5: Strategic Prospecting and Preparing for Sales Dialogue

What has replaced cold calling as a major source of new customers?

Correct AnswerverifiedShow Answer

Due to the time involved, the strategic prospecting plan should not be evaluated on any more than an annual basis.

Correct AnswerverifiedShow Answer

Damien is a salesperson who relies on his current customers to help him identify potential new customers. Which method for lead generation is Damien relying on?

Correct AnswerverifiedShow Answer

Although the salesperson will be dealing with the contact, it is extremely important for the salesperson to gain some information on the contact's company prior to making the sales call.

Correct AnswerverifiedShow Answer

Which statement best describes the basic purpose of strategic prospecting?

Correct AnswerverifiedShow Answer

Even if that person is a member of a buying team, the contact (whom the salesperson is calling on) always has the most influence over the buying decision.

Correct AnswerverifiedShow Answer

What is the fourth step of a strategic prospecting plan?

Correct AnswerverifiedShow Answer

What is the second step of a strategic prospecting plan?

Correct AnswerverifiedShow Answer

Marc is a salesperson for a large consumer products manufacturer. He has just taken over a new territory and wants to begin the prospecting process. What is the first thing he should develop?

Correct AnswerverifiedShow Answer

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.

Correct AnswerverifiedShow Answer

Which statement about evaluating prospecting activities is most accurate?

Correct AnswerverifiedShow Answer

What is the part of a strategic prospecting plan that records comprehensive information about the prospect, traces the prospecting methods used, and chronologically archives outcomes from any contacts with the prospect?

Correct AnswerverifiedShow Answer

What is the term for an individual or organization that has a need for the product or service, has the budget or financial resources to purchase the product or service, and has the authority to make the purchase decision?

Correct AnswerverifiedShow Answer

The process of searching out, collecting, and analyzing information to determine the likelihood of a sales lead being a good candidate for making a sale is known as qualifying.

Correct AnswerverifiedShow Answer

What method of locating sales prospects involves a salesperson or another company representative calling the prospect by telephone?

Correct AnswerverifiedShow Answer

What is the term for organizations or individuals who might possibly purchase the product or service a salesperson offers?

Correct AnswerverifiedShow Answer

Which sales prospecting method uses business and municipal directories and commercial lead lists?

Correct AnswerverifiedShow Answer

According to the textbook, social media such as Facebook and MySpace have proven to be excellent prospecting tools for salespeople.

Correct AnswerverifiedShow Answer

According to the textbook, why do salespeople often find it difficult to allocate time for prospecting?

Correct AnswerverifiedShow Answer

Once a prospect has been identified, a salesperson should attempt to make contact as soon as possible so that the lead does not go cold.

Correct AnswerverifiedShow Answer

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