MKT 356 EXAM 2 QUESTIONS AND
ANSWERS 100% PASS 2026/2027
Prospecting - ANS the process of locating potential customers for a product or service, the
most important activity that many salespeople do
Why is prospecting so important? - ANS salespeople must find new customers to replace
those who switch to competitors, go bankrupt, move out of the territory, merge with
noncustomers, or decide to do without a product or service. prospecting in existing accounts
happens because of downsizing, job changes, or retirements of buyers
Hunters - ANS go out and locate potential leads
Farmers - ANS develop the leads into prospects and customers
Lead (suspect) - ANS prospecting begins with locating a lead. a potential prospect that may
have expressed an interest in your offerings through behaviors like visiting your website,
subscribing to your blog, downloading a white paper, or using a trial version of your product
Qualify the lead - ANS qualifying is the process of determining whether a lead is in fact a
prospect. if the salesperson determines that the lead is a good candidate, he is now a prospect
and not a lead
@2026 ALLRIGHTS RESERVED 1
,Sales funnel - ANS a prospecting term that reflects that some leads do not become prospects
and some prospects do not become customers.
5 questions used by organizations to help qualify leads - ANS Does a want or need exist?
Does the lead have the ability to pay?
Does the lead have the authority to buy?
Can the lead be approached favorably?
Is the lead eligible to buy?
Systems integrators - ANS because of downsizing, some firms are delegating their purchasing
tasks to outside vendors. systems integrators have the authority to buy products and service on
behalf of the delegating firm. they assume complete responsibility.
Exclusive sales territories - ANS a particular salesperson can sell only to certain prospects
(such as doctors in only a three-county area) and not to other prospects.
House accounts - ANS large customers or potential customers that are handled exclusively by
corporate executives, salespeople should avoid targeting these leads
BANT - ANS budget
authority
needs
timeline - have they created a timeline for a decision to be made?
Questions to determine a lead is a good prospect - ANS when does the prospect's contract
with our competitor expire?
is a purchase decision really pending?
@2026 ALLRIGHTS RESERVED 2
,what is the climate at the organization, is it looking to develop partnering relationships with
suppliers?
do any of our competitors already have a partnering relationship there?
Characteristics of a good prospect - ANS -timing of the purchase
-long-term potential partnership with the customer
-insight selling
Insight selling - ANS evaluate prospects who do not necessarily have a clear understanding of
what they need but are in a state of flux and have been shown to be agile in making changes.
encourages salespeople to interact with people in the buying firm who are skeptical rather than
friendly information providers and coach them
Common sources of leads - ANS -satisfied customers
-endless chain
-networking (events)
-center of influence
-social media
-other internet uses
-marketing department
-shows, fairs, merchandise markets
-webinars and seminars
-lists and directories
-sales analytics and AI
-cold calling
-spotters
-inside salespeople
@2026 ALLRIGHTS RESERVED 3
, -expertise
-sales letters
-other sources
Customer referral value (CRV) - ANS the monetary value of the referral, as well as the costs to
get and maintain the referral
Promoters (evangelists) - ANS your most loyal customers who not only keep buying from you,
but also urge their friends and associates to do the same
Negative referral - ANS a customer who tells others about how poorly you or your product
performed
Referral events - ANS gathering designed to allow current customers to introduce prospects
to the salesperson in order to generate leads
Referred lead - ANS name of a lead provided by either a customer or a prospect of the
salesperson
Selling deeper - ANS selling more to existing customers
-often result in more profits than selling to new customers
Endless-chain method - ANS prospecting method where a sales representative attempts to
get at least one additional lead from each person they interview. can even be used when a
prospect does not buy.
Networking - ANS establishing connections to other people and then using those networks to
generate leads, gather information, generate sales, and so on
@2026 ALLRIGHTS RESERVED 4
ANSWERS 100% PASS 2026/2027
Prospecting - ANS the process of locating potential customers for a product or service, the
most important activity that many salespeople do
Why is prospecting so important? - ANS salespeople must find new customers to replace
those who switch to competitors, go bankrupt, move out of the territory, merge with
noncustomers, or decide to do without a product or service. prospecting in existing accounts
happens because of downsizing, job changes, or retirements of buyers
Hunters - ANS go out and locate potential leads
Farmers - ANS develop the leads into prospects and customers
Lead (suspect) - ANS prospecting begins with locating a lead. a potential prospect that may
have expressed an interest in your offerings through behaviors like visiting your website,
subscribing to your blog, downloading a white paper, or using a trial version of your product
Qualify the lead - ANS qualifying is the process of determining whether a lead is in fact a
prospect. if the salesperson determines that the lead is a good candidate, he is now a prospect
and not a lead
@2026 ALLRIGHTS RESERVED 1
,Sales funnel - ANS a prospecting term that reflects that some leads do not become prospects
and some prospects do not become customers.
5 questions used by organizations to help qualify leads - ANS Does a want or need exist?
Does the lead have the ability to pay?
Does the lead have the authority to buy?
Can the lead be approached favorably?
Is the lead eligible to buy?
Systems integrators - ANS because of downsizing, some firms are delegating their purchasing
tasks to outside vendors. systems integrators have the authority to buy products and service on
behalf of the delegating firm. they assume complete responsibility.
Exclusive sales territories - ANS a particular salesperson can sell only to certain prospects
(such as doctors in only a three-county area) and not to other prospects.
House accounts - ANS large customers or potential customers that are handled exclusively by
corporate executives, salespeople should avoid targeting these leads
BANT - ANS budget
authority
needs
timeline - have they created a timeline for a decision to be made?
Questions to determine a lead is a good prospect - ANS when does the prospect's contract
with our competitor expire?
is a purchase decision really pending?
@2026 ALLRIGHTS RESERVED 2
,what is the climate at the organization, is it looking to develop partnering relationships with
suppliers?
do any of our competitors already have a partnering relationship there?
Characteristics of a good prospect - ANS -timing of the purchase
-long-term potential partnership with the customer
-insight selling
Insight selling - ANS evaluate prospects who do not necessarily have a clear understanding of
what they need but are in a state of flux and have been shown to be agile in making changes.
encourages salespeople to interact with people in the buying firm who are skeptical rather than
friendly information providers and coach them
Common sources of leads - ANS -satisfied customers
-endless chain
-networking (events)
-center of influence
-social media
-other internet uses
-marketing department
-shows, fairs, merchandise markets
-webinars and seminars
-lists and directories
-sales analytics and AI
-cold calling
-spotters
-inside salespeople
@2026 ALLRIGHTS RESERVED 3
, -expertise
-sales letters
-other sources
Customer referral value (CRV) - ANS the monetary value of the referral, as well as the costs to
get and maintain the referral
Promoters (evangelists) - ANS your most loyal customers who not only keep buying from you,
but also urge their friends and associates to do the same
Negative referral - ANS a customer who tells others about how poorly you or your product
performed
Referral events - ANS gathering designed to allow current customers to introduce prospects
to the salesperson in order to generate leads
Referred lead - ANS name of a lead provided by either a customer or a prospect of the
salesperson
Selling deeper - ANS selling more to existing customers
-often result in more profits than selling to new customers
Endless-chain method - ANS prospecting method where a sales representative attempts to
get at least one additional lead from each person they interview. can even be used when a
prospect does not buy.
Networking - ANS establishing connections to other people and then using those networks to
generate leads, gather information, generate sales, and so on
@2026 ALLRIGHTS RESERVED 4
