Sales Midterm 1

Question 1

Meaning of SPIN

Answer 1

Situation, Problem, Implications, Needs pay off
Apart of Needs analysis

Question 2

Difference between advantage and Benefit

Answer 2

Advantage: How it can be used how it can help
Benefit: The result of a advantage

Question 3

Pre-approach steps

Answer 3

1. Determine Objectives
2. Develop Profile
3. Develop benefits
4. Prepare Presentation

Question 4

SMART Meaning

Answer 4

Smart- To get an order NOT specific
Measurable- Number, size
Achievable- Realistic
Relevant- Has importance to you
Time bounded- set date when target to be met

Question 5

Sales people today will need the following skills

Answer 5

-Good selling skills
-Technical skills
-Human skills (Empathy, how to handle an objection, FAB)
-Concept skills (Look at their comp, how do solve their problem)

Question 6

Customer relationship process

Answer 6

• Analyze customer needs
  -Recommend solution and gain commitment
  -Implement the recommendation
  -Maintain and grow the relationship

Question 7

Transaction selling

Answer 7

Customers are sold and not contacted again

Question 8

Relationship selling

Answer 8

• Sellers follow up to ensure customer satisfaction

Question 9

Partnership

Answer 9

Seller works continuously

Question 10

What is a of Gate keeper

Answer 10

Someone keeping the seller from the big buyer, such as receptionist, secretaries, office manager

Question 11

What are the 5 mental steps in the buying process

Answer 11

1. Attention
2. Interest
3. Desire
4. Conviction
5. Purchase or action

Question 12

Sales presentation methods

Answer 12

Sales person to buyer
Sales person to buyer group
Sales team to buyer group
Conference selling
Seminar selling

Question 13

The industry approach

Answer 13

• most common, least powerful
  Used for first time meeting
  Used with other approaches

Question 14

The premium approach:

Answer 14

Freebies, Samples

Question 15

Opening approach should include

Answer 15

Capturing attention
Peak prospects interest
Smooth transition into presentation

Question 16

How to establish Repport

Answer 16

Establishing a relationship, trust, connection, things you have in common

Question 17

Curiosity approach

Answer 17

Ask a question or do something to make the prospect curious about the product

Question 18

Opinion approach

Answer 18

Asking a question to seek out a opinion from subject

Question 19

The sales presentation mix

Answer 19

1. Persuasive communication
2. Participation
3. Evidence statement
4. Visual Aids
5. Dramatization
6. Demonstration

Question 20

5 Major categories of objections

Answer 20

-Stalling
-No-need
-Money
-Product
-Source

Question 21

How to use ACTT to take on the objection

Answer 21

-Acknowledge the concern (dont agree with it)
-Clarify (Clarify the concern, what’s the problem)
-Technique to handle the objection
-Trial close

Question 22

What does the s stand for in SALL sequence?

Answer 22

Show a feature

Question 23

What does the E stand for in SELL sequence?

Answer 23

Explain an advantage

Question 24

What does the 1st L stand for in the SELL sequence

Answer 24

Lead into a benefit

Question 25

What does the 2nd L stand for in the SELL sequence

Answer 25

Let your buyer talk -trail close

Question 26

Cognitive empathy

Answer 26

I understand why you have an objection

Question 27

Emotional empathy

Answer 27

I know how you feel

Question 28

What is compliment closing technique?

Answer 28

They like to think they’re opinion is important -We know your smart so that’s why your going to choose this

Question 29

Specific closing technique: ultimatum

Answer 29

Explain the potential negative consequences of not acting now

Question 30

Specific closing technique: Concession

Answer 30

Deal sweetener, small freebie, make them feel special

Question 31

Specific closing technique: T-accounts means

Answer 31

What they get if they say yes, what they get if they say no - The deal to act or not to act

Question 32

Specific closing technique: Urgency

Answer 32

FOMO, people want what they can’t have, best to act now -Standing room only

Question 33

Specific closing techniques: Probability

Answer 33

Scale of 1-10 when i call are you going to takes the deal?

Question 34

Specific closing technique: negotiation

Answer 34

Value and price Find a win-win

Question 35

Specific closing technique: Technology

Answer 35

Graphs, images, flow charts

Question 36

Specific closing techniques: Alternative choice

Answer 36

less pressure on the person, would you like this or that choice (This version or that version)

Question 37

Creative Imagery

Answer 37

Imagine both ways, worst and best thing that’s could happen

Question 38

Qualities of a good sales person (according to the presentation)

Answer 38

Product knowledge, Organized, assertive, behavioural flexibility

Question 39

Order getter vs order taker

Answer 39

Getter: Responsible for generating new business, use creative sales strategies and effective sales presentations Taker: What does the customer want, no sales strategy or creative sales presentation