Sales Sales Fundamentals 3 — Questions and Answers
Question 1: What is the difference between a 'lead' and a 'prospect' in sales?
- They are identical terms
- A lead has expressed interest; a prospect has been qualified as a potential buyer (Correct answer)
- A prospect is unaware of your product; a lead is a paying customer
- A lead is internal; a prospect is external
Correct answer: A lead has expressed interest; a prospect has been qualified as a potential buyer
A lead is any potential contact, while a prospect has been evaluated and meets the criteria for a likely purchase.
Question 2: Which closing technique involves summarizing the agreed-upon benefits before asking for the sale?
- The Puppy Dog Close
- The Summary Close (Correct answer)
- The Urgency Close
- The Assumptive Close
Correct answer: The Summary Close
The Summary Close recaps the key value points the prospect agreed with, reinforcing the decision to buy.
Question 3: When a prospect says 'your price is too high,' what is the BEST first response?
- Immediately offer a discount
- End the call politely
- Ask clarifying questions to understand their budget and priorities (Correct answer)
- Explain why competitors are worse
Correct answer: Ask clarifying questions to understand their budget and priorities
Asking clarifying questions reveals whether the objection is about budget, perceived value, or a negotiating tactic.
Question 4: What is 'upselling' in a sales context?
- Selling to a customer for the first time
- Encouraging a customer to purchase a higher-end version of a product they're considering (Correct answer)
- Offering a discount to close a deal
- Following up after a lost sale
Correct answer: Encouraging a customer to purchase a higher-end version of a product they're considering
Upselling involves guiding customers toward a more premium or feature-rich option that better meets their needs.
Question 5: Which of the following BEST describes 'cold outreach' in sales?
- Reaching out to warm referrals
- Following up on inbound inquiries
- Contacting potential customers who have had no prior interaction with you (Correct answer)
- Sending proposals to existing clients
Correct answer: Contacting potential customers who have had no prior interaction with you
Cold outreach targets people or businesses with no prior relationship, making the initial contact unsolicited.
Question 6: In sales, what is 'value proposition'?
- The total price of a product or service
- A clear statement of the unique benefits a product delivers to a customer (Correct answer)
- A discount offered during negotiations
- The salesperson's commission structure
Correct answer: A clear statement of the unique benefits a product delivers to a customer
A value proposition articulates why a customer should choose your solution over alternatives by highlighting unique benefits.
Question 7: A salesperson tracks that it takes an average of 8 touchpoints to close a deal. What should they do with this information?
- Stop following up after 5 touchpoints to avoid annoying prospects
- Use it to set realistic follow-up schedules and persist through the process (Correct answer)
- Close all deals on the first call to beat the average
- Share it with marketing to blame them for slow deals
Correct answer: Use it to set realistic follow-up schedules and persist through the process
Knowing the average touchpoints needed helps salespeople stay consistent and not give up too early in the follow-up process.
Sales Sales Fundamentals 3
What is the difference between a 'lead' and a 'prospect' in sales?