Final Exam

Question 1

what is magnus favorite toy?

Answer 1

Tennis ball

Question 2

loyalty is a

Answer 2

feature

Question 3

Signpost brands

Answer 3

Redbull
Nike
Starbucks

Question 4

How long do salespeople spend on selling everyday?

Answer 4

2 hours

Question 5

What is the pareto principle?

Answer 5

20 percent of the salespeople make 80 percent of the sales

Question 6

What is Parkinson’s Law?

Answer 6

Work expands to fill the time available

Question 7

Passion is more important than

Answer 7

perfection

Question 8

How long should I prep for a presentation?

Answer 8

One hour of prep for each minute of presentation

Question 9

Units of conviction

Answer 9

concise, carefully prepared mini presentations that are used as building blocks in constructing the information the salesperson presents (prepare them ahead of time, practice them until they are comfortable, they become permanent, learn how to personalize)

Question 10

what does each unit of conviction contain?

Answer 10

Feature - fact about the product or service
transitional phrase - bridge
benefits - what’s in it for me?
evidence - proof statements
tie down - trial close or nail down

Question 11

Features are the

Answer 11

same no matter who uses them

Question 12

when do buyers object?

Answer 12

at any time

Question 13

memorized presentation

Answer 13

rapid productivity
reliable and effective info
confidence builder
should only be used when info is internalized to the point that it is normal(personal)
inexperienced sales people use this

Question 14

outline presentation

Answer 14

use several units of conviction
reveals need for additional information
helps compare needs with suggested solutions

Question 15

impromptu presentation

Answer 15

Only used by experienced salespeople

Question 16

the stall or put off

Answer 16

prospect is avoiding making a decision. you may not have presented a compelling reason to buy, handling this is a test of your attitude

Question 17

the searcher

Answer 17

prospect wants more data
they want to buy but need more convincing

Question 18

the hidden objection

Answer 18

prospect will not reveal the real reason
often personal reason

Question 19

the stopper

Answer 19

the prospect has a legitimate reason to not buy

Question 20

handling objections

Answer 20

-keep the buyers attitude toward your product positive
-let buyers know you are on their side
- help with objections (show you care)
-do not get demanding, defensive, or hostile
-do not be satisfied with an excuse or stall
-bring out your arsenal of selling benefits and keep on presenting

Question 21

navigating objection - feel felt found

Answer 21

use experiences, provide new facts

Question 22

navigating objection - compensation or counterbalance method

Answer 22

admit objection is valid and describe counterbalance

Question 23

navigating objection - ask why?

Answer 23

turn broad no into specific concern

Question 24

navigating objection - remove misconception

Answer 24

useful when prospect has clearly wrong message; be firm and present the data

Question 25

navigating objection - boomerang method

Answer 25

initially agree with concern, but make statement that turns it into a selling point

Question 26

navigating objection - curiosity method

Answer 26

demonstate genuine curiostiy about their objection, prospect may be mentally comparing with a competing product

Question 27

Price objection - price breakdown

Answer 27

use the lowest common denominator - break the price down - establish value not price

Question 28

Price objection - perform a comparison

Answer 28

compare product’s features, advant, and benefits among competitors

Question 29

Price objection - sell down

Answer 29

present the best most expensive product first, be patient and focus on benefits

Question 30

When to answer objections - before they arise

Answer 30

-price objections

Question 31

when to answer objections - postpose the answer

Answer 31

when you are planning to cover that point further along and the prospect has jumped ahead
ANSWER IMMEDIATELY

Question 32

when to answer objections - ignoring answer

Answer 32

when it has nothing to do with your product

Question 33

what is a close?

Answer 33

question asked or an action take by salesperson designed to elicit a positive buying decision from the prospect.

Question 34

what is an objection?

Answer 34

an obstacle to the smooth completion of a sale

Question 35

up selling

Answer 35

point out the benefits of the higher price model to meet their needs

Question 36

cross selling

Answer 36

example: apple pen for your iPad (accessories)

Question 37

cost of gaining a new customer

Answer 37

5x more than keeping a customer

Question 38

impending event close

Answer 38

QVC - deal ends soon!

Question 39

Trial order close

Answer 39

3 months at no cost

Question 40

the mars team

Answer 40

sales productivity of the IAMS product

Question 41

Salespeople help buyers decide by

Answer 41

asking them to buy

Question 42

your attitude will communicate

Answer 42

sincerity
interest in the buyer
belief in your product

Question 43

direct close

Answer 43

ask for the order directly

Question 44

thank you letters / 4 P’s

Answer 44

prompt
personalized
precise
positive

Question 45

the 4 R’s - why current customers are important

Answer 45

Referrals
retention
reputation
revenue