Final Terms

Question 1

Prospecting

Answer 1

The process of locating potential customers for a product or service

Question 2

lead

Answer 2

A potential prospect a personal organization that may have the characteristics of a true prospect

Question 3

Qualifying a customer

Answer 3

The process of determining whether a lead is in fact a prospect

Question 4

House accounts

Answer 4

Accounts assigned to a sales executive rather than to the specific sales person responsible for the territory containing the account

Question 5

Selling deeper

Answer 5

Selling more to existing customers

Question 6

Endless chain

Answer 6

Prospecting method whereby a sales representative attempts to get at least one additional lead from each person he or she interviews

Question 7

Referred lead

Answer 7

Name of a lead provided by either a customer or prospect of the salesperson

Question 8

Center of influence

Answer 8

Prospecting method where in the salespersons cultivates well-known, influential people in the territory who are willing to supply lead information

Question 9

Bounce back card

Answer 9

Card returned from a lead that request additional information

Question 10

NAICS

Answer 10

Replaces the older standard industrial classification code. The groups industries into 20 Rod sectors as opposed to 10 sectors under SIC

Question 11

Data mining

Answer 11

Sifting through very large amounts of data for useful information

Question 12

Cold calling

Answer 12

Visiting a prospect without a prior appointment

Question 13

Influential adversary

Answer 13

Individuals in the buyers organization. Great influence and are opposed to the salespersons product or service

Question 14

Analysis paralysis

Answer 14

When I sales person prefers to spend practically all is her her time analyzing the situation and gathering information instead of making sales calls

Question 15

Customer value proposition

Answer 15

A written statement clearly states purchasing your product or service and help and shareholder value

Question 16

Impression management

Answer 16

The process whereby someone tries to influence the observations and opinions of others about something

Question 17

Halo effect

Answer 17

The transfer of goodwill positive feelings about one person to another possibly unrelated characteristics

Question 18

Small talk

Answer 18

Polite conversation about unimportant or uncontroversial matters especially as engaged in on social occasions

Question 19

Referral

Answer 19

Referring someone or something for consultation review further action

Question 20

Benefit

Answer 20

An advantage or profit gained from something

Question 21

Advantage

Answer 21

A condition or circumstance that puts one in a favorable or superior position

Question 22

Feature

Answer 22

A distinctive attribute or aspect of something

Question 23

Rapport

Answer 23

A close and harmonious relationship in which the people or groups concerned understand each other’s feelings or ideas and communicate well

Question 24

Open questions

Answer 24

In a manner in which differences of opinion or possible

Question 25

Closed questions

Answer 25

Questions that have a single answer Like yes or no

Question 26

Situation questions

Answer 26

General data gathering questions about background and current fact that are very broad in nature

Question 27

Problem questions

Answer 27

Questions about specific difficulties, problems, or dissatisfactions that the prospect has

Question 28

Implication questions

Answer 28

Questions that logically follow one or more problem questions in spin selling designed to help the prospect recognize the true ramifications of the problem

Question 29

Need payoff questions

Answer 29

Questions that I asked about the usefulness of solving the problem

Question 30

Demonstrations

Answer 30

Action or process of showing the existence or truth of something I getting proof or evidence

Question 31

Request for proposal

Answer 31

Statement issued by a potential buyer desiring bids from several potential vendors for a product

Question 32

Executive summary

Answer 32

Sometimes known as a management summary is a short document or section of the document produced for business purposes and summarizes a longer report proposal or a group of related reports in such a way that readers with a large body of material

Question 33

Objections

Answer 33

Concern or question raised by the buyer

Question 34

Forestalling objections

Answer 34

If the salesperson is aware of an objection that comes up repeatedly during a sales pitch or presentation the sales person may raise the injection himself and counter it with a pre-prepared argument

Question 35

Direct denial method

Answer 35

Direct denial is one of several common techniques used by salespeople when responding to certain types of by or concerns. This approach works well when responding to miss statements of fact. The point is to appease the concerns of the prospect to get him to buy

Question 36

Indirect denial method

Answer 36

Handling a buyer's objection by initially admitting the validity of the objection in order to maintain report but then offering evidence to rebut the objection

Question 37

Compensation method

Answer 37

Salesperson will admit that such objections are valid and then proceed to show any compensating advantages

Question 38

Referral method

Answer 38

Sales person goes on to relate to others actually found their initial opinions to be unfounded after they try the product

Question 39

Revisit method

Answer 39

Also called the boomerang method of responding to objections, the sales person turns the objection into a reason for buying the product or service

Question 40

Acknowledgment method

Answer 40

Also called the pass a method simply let the buyer talk acknowledge that you heard the concern pause and then move on to another topic

Question 41

Postpone method

Answer 41

The salesperson would ask permission to answer the question at a later time

Question 42

Closing

Answer 42

Getting the buyer to commit to purchase

Question 43

Free on board

Answer 43

Is used to determine the point at which the buyer assumes responsibility for both the goods and the cost of shipping them

Question 44

Buying signals

Answer 44

Or indication that the buyer is ready to buy can be evidenced both in the buyers comments and nonverbally

Question 45

Direct request close

Answer 45

The most straightforward effective method of obtaining commitment is simply to ask for it

Question 46

Benefit summary close

Answer 46

The salesperson simply reminds the prospect of the agreed on benefits of the proposal

Question 47

Balance sheet close

Answer 47

AIDS prospects who cannot make a decision even though no reason for their behavior is apparent

Question 48

Alternate choice close

Answer 48

And many situation a sales person may have multiple options to present to a buyer

Question 49

Standing room only close

Answer 49

The seller attempts to obtain commitment by describing the negative consequences of waiting

Question 50

Post purchase dissonance

Answer 50

After important decisions customers may feel a little insecure about whether the sacrifice is worth it