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IT 330 Final Exam Review Part Two
Terms in this set (50)
Potential prospect that may or may not have what it takes to be a true prospect
Qualifying the Lead
Determining whether a lead is a prospect
Good candidate for making a sale
For every 1000 leads, there are 200 prospects. For every 200 prospects, there are 15 customers.
An outside vendor with the authority to buy products and services on behalf of the delegating firm
Accounts assigned to a sales executive rather than to the specific salesperson responsible for the designated territory the account is in.
A prospecting method in which salespeople evaluate prospects who don't have a clear understanding of what they need, but are willing to act quickly when a compelling case has been made to them.
Center of Influence Method
A method of prospecting in which the salesperson cultivates well-known, influential people in the territory, who are willing to supply lead information.
Small, informal group of people in similar positions who communicate regularly
Internet sites that are customized for specific target markets
A short, temporary exhibition of products by manufacturers and resellers
A form of trade show used in the fashion industry for manufacturers to sell products to retailers.
Cold Canvas Method
Generating leads for new business by calling on totally unfamiliar organizations, also known as cold calling.
Calling all prospective businesses in a given geographical territory on a specified day
Also known as bird dogs, an individual that provides leads for salespeople in the company
Endless Chain Method
Acquiring an additional lead from each person that is interviewed, typically a satisfied customer or partner
Utilizing personal relationships through connected and cooperating individuals for the purpose of achieving goals
Lead Qualification System
Process for qualifying leads
The process of determining whether a lead is qualified before proceeding with the sales process.
Lead Management System
The part of the lead process in which salespeople carefully analyze the relative value of each lead.
Fear, Too much preparation, Intimidation, Being Argumentative
Reasons For Reluctance
Acknowledge, Acquire, Advise, and Assure
The Four A's of Selling
Activities in which salespeople can engage to affect and manage the buyer's impression of them
Manner in which you do something changes a person's perceptions of other things you do
Method of getting the prospect's attention and interest quickly and making a smooth transition into the next part of the presentation
Breaks the ice for the actual presentation. This can be current news, hobbies, or goals.
Method of discovering needs with help of situation questions, problem questions, implication questions, and need payoff questions
Features, Advantages, and Benefits
When a salesperson describes the features, advantages, and benefits of their product or service.
Customer Benefit Proposition
A statement showing how a product addresses the buyer's specific needs
Features, Evidence, Benefits, and Agreement
A method of describing a product or service by mentioning a feature, providing evidence of the features existence, explaining the features benefit, and then asking if the buyer agrees with the value and benefit of the feature.
Taking the pulse of the situation during the presentation
The act of hearing what one wants to hear, rather than what the other person is actually saying.
The characteristic of being perceived as believable and reliable.
A description of the seller and his or her company, offered to buyers to show that the seller can meet their needs.
A form of presentation that is honest and shows all sides of the situation
A point of view that helps gain buyer's respect and confidence
A point of view that helps to meet call objectives efficiently
Specific, Measurable, Achievable, and Time Based
Criteria for Effective Objectives
Sending customers important and useful information
Involves a long selling cycle, a large customer commitment, an ongoing relationship, and large risks for the prospect
Situation, Problem, Implication, Need Payoff
SPIN Technique Acronym
Simply introduce yourself
Tell the buyer about someone who referred you to them
Start by telling some benefits of the product
Start by demonstrating a product feature or benefit as soon as you approach the prospect
Start by complimenting the buyer or buyer's firm
Start the conversation with a question
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