Lesson 2: Remaining

Question 1

Evaluating the strengths and weaknesses of competitors to inform sales strategies.

Answer 1

Competitive Analysis

Question 2

Emphasizing the value and benefits of a product or service rather than just its features.

Answer 2

Value selling

Question 3

Highlighting both the features and the corresponding benefits of a product or service to prospects.

Answer 3

Feature-benefit selling

Question 4

Engaging with prospects to understand their needs and provide tailored solutions.

Answer 4

Consultative selling

Question 5

Offering customized solutions to address specific challenges or problems faced by prospects.

Answer 5

Solution selling

Question 6

Building strong, long-term relationships with customers based on trust and mutual understanding.

Answer 6

Relationship selling

Question 7

Criteria used to qualify prospects based on their budget, decision-making authority, need for the product or service, and timeline for purchasing.

Answer 7

BANT (Budget, Authority, Need, Timeline)

Question 8

A questioning technique used to uncover a prospect’s situation, problems, implications of those problems, and the payoff of addressing them.

Answer 8

SPIN Selling (Situation, Problem, Implication, Need-payoff)

Question 9

A sales approach that involves challenging prospects’ assumptions and providing insights to drive change.

Answer 9

Challenge selling

Question 10

Managing and nurturing relationships with existing customers to maximize retention and upsell opportunities.

Answer 10

Account management

Question 11

A high-value customer or client that receives special attention and strategic focus from the sales team.

Answer 11

Key account

Question 12

Software or systems used to manage interactions and relationships with customers and prospects.

Answer 12

Customer Relationship Management (CRM)

Question 13

A geographic area assigned to a salesperson or team to manage and develop sales opportunities.

Answer 13

Sales territory

Question 14

The process or series of steps involved in making a sale, from initial contact to closing.

Answer 14

Sales cycle

Question 15

Providing relevant information and support to leads to move them through the sales funnel and increase the likelihood of conversion.

Answer 15

Lead nurturing

Question 16

Providing sales teams with the tools, resources, and training they need to effectively engage with prospects and close deals.

Answer 16

Sales enablement

Question 17

Marketing materials, presentations, and documents used to support sales efforts and communicate value to prospects.

Answer 17

Sales collateral

Question 18

A persuasive presentation or speech given to prospects to persuade them to buy a product or service.

Answer 18

Sales pitch

Question 19

A pre-written outline or dialogue used by salespeople to guide conversations with prospects.

Answer 19

Sales script

Question 20

Rewards or bonuses offered to salespeople to motivate them to achieve sales targets and objectives.

Answer 20

Sales incentives

Question 21

Formal instruction or education provided to sales teams to improve their skills, knowledge, and effectiveness.

Answer 21

Sales training

Question 22

A scheduled gathering of sales team members to discuss strategies, share updates, and collaborate on opportunities.

Answer 22

Sales meeting

Question 23

A scheduled gathering of sales team members to discuss strategies, share updates, and collaborate on opportunities.

Answer 23

Sales meeting

Question 24

A scheduled gathering of sales team members to discuss strategies, share updates, and collaborate on opportunities.

Answer 24

Sales meeting

Question 25

A specific target or goal set for individual salespeople or teams to achieve within a defined period.

Answer 25

Sales quota

Question 26

An estimate of future sales performance based on historical data, market trends, and other factors.

Answer 26

Sales forecast

Question 27

A percentage of sales revenue paid to salespeople as compensation for their efforts in generating sales.

Answer 27

Sales commission

Question 28

A specific numerical goal or objective set for sales performance within a given period.

Answer 28

Sales target

Question 29

A plan or approach designed to achieve sales objectives and goals.

Answer 29

Sales strategy

Question 30

Activities or campaigns designed to stimulate sales of a product or service, often involving discounts, special offers, or incentives.

Answer 30

Sales promotion

Question 31

The process of reaching mutually beneficial agreements with prospects or customers regarding terms, pricing, and conditions of a sale.

Answer 31

Sales negotiation

Question 32

The analysis of sales data and metrics to gain insights into sales performance, trends, and opportunities for improvement.

Answer 32

Sales analytics