Sales Trivia 3 — Questions and Answers
Question 1: Which famous sales book introduced the concept of 'Always Be Closing' (ABC)?
- How to Win Friends and Influence People
- Glengarry Glen Ross (Correct answer)
- The Challenger Sale
- SPIN Selling
Correct answer: Glengarry Glen Ross
The phrase 'Always Be Closing' was popularized by the 1992 film Glengarry Glen Ross, based on David Mamet's play.
Question 2: What is a 'sales pipeline'?
- A tool for delivering products to customers
- A visual representation of prospects at each stage of the buying process (Correct answer)
- A direct phone line between salesperson and buyer
- A system for tracking competitor pricing
Correct answer: A visual representation of prospects at each stage of the buying process
A sales pipeline is a visual framework showing how many deals are at each stage of the sales process at any given time.
Question 3: What does 'MRR' stand for in subscription sales?
- Monthly Recurring Revenue (Correct answer)
- Market Research Report
- Maximum Retention Rate
- Monthly Revenue Record
Correct answer: Monthly Recurring Revenue
MRR (Monthly Recurring Revenue) is a key metric in subscription businesses, measuring predictable monthly income.
Question 4: In B2B sales, what is a 'champion'?
- The top-performing salesperson on the team
- An internal advocate at the prospect company who supports your deal (Correct answer)
- A lead who has never bought before
- A competitor who wins the most deals
Correct answer: An internal advocate at the prospect company who supports your deal
In B2B sales, a champion is a stakeholder inside the prospect organization who actively advocates for your solution internally.
Question 5: What is 'price anchoring' in sales negotiation?
- Locking in a price that cannot be changed
- Presenting a high initial price to make subsequent offers seem more attractive (Correct answer)
- Matching the competitor's lowest price
- Setting a minimum acceptable price before negotiating
Correct answer: Presenting a high initial price to make subsequent offers seem more attractive
Price anchoring involves introducing a high reference price first so that any lower offer seems like a better deal by comparison.
Question 6: What is the primary goal of a 'discovery call' in the sales process?
- To close the deal immediately
- To present a product demo
- To understand the prospect's needs, challenges, and buying situation (Correct answer)
- To negotiate contract terms
Correct answer: To understand the prospect's needs, challenges, and buying situation
A discovery call is designed to learn about the prospect's pain points, goals, and decision-making process before pitching a solution.
Question 7: Which term describes the practice of selling additional or upgraded products to an existing customer?
- Cross-selling
- Cold calling
- Upselling (Correct answer)
- Prospecting
Correct answer: Upselling
Upselling encourages existing customers to purchase a higher-end version or premium tier of a product they already use.
Sales Trivia 3
Which famous sales book introduced the concept of 'Always Be Closing' (ABC)?