General Business Development MCQs

1. Which of the following is the most common mistake made by salespeople when speaking to prospects?

2. True or False: When targeting companies to partner with, one should contact any organization in the target industry.

3. ROI is a typical measure of return. One of its flaws is:

4. Business development is often viewed as bridging the gap of obstacles between:

5. What is one of the main differences between an early, project based, business development unit and a matured, institutionalized unit?

6. Conversion ratios are important to monitor because they:

7. Measuring a project through a Pay Back Period metric often ignores:

8. What should you do once you've organized your data in Excel?

9. A company interested in horizontal growth opportunities is looking to:

10. ________ can motivate a client to close on a deal because there is limited access to the resource.

11. As a part of go-to-market plan you must figure out the proper sales _________.

12. What is the best way to leave a compelling voicemail for a prospect?

13. Which of the following is NOT good data to leverage?

14. In what way should a salesperson handle a situation where an angry customer calls to report the poor service he received?

15. True or false? As long as a salesman closes, it doesn't matter how much product customization they commit to.

16. In a company that has not launched yet, when should you look into customer segmentation?

17. A _____ lead is expected to be responsive.

18. What is the first step in customer segmentation?

19. Answering which of the following questions does NOT help in understanding a niche?

20. Generally the purpose of a pre-purchase meeting is to ________.

21. True of False: Vertical Integration means to integrate companies that are suppliers, distributors, or clients of the current products and services.

22. Which of the following is a good listening technique during a meetings with a prospect?

23. Which of the following is NOT a method of customer segmentation?

24. What is a cold call?

25. What is the purpose of an elevator pitch ?

26. One of the foundational aspects of business development, is to assess the current assets of the company as they relate to the maintenance and expansion of the business.

27. What is the best way to service a last minute, highly critical request from a prospective client in an area in which you don't have the expertise?

28. Which of the following is a concern caused by a incentive based compensation plan?

29. Identifying how to communicate with customers is a __________ strategy:

30. What does market share mean?

31. How can you differentiate a 'champion' from the crowd?

32. True or False The definition of a product life cycle is: the time and maturation of a product between it's initial introduction to the market and eventual removal.

33. Which of the following techniques will be most likely to generate a response from a voicemail?

34. What determines the types of data to leverage?

35. Business development combines which two of the following business functions?

36. True or false? Maintaining a relationship with a customer after a sale is worthless.

37. Most Companies Business Models are:

38. PPC is a common term for internet companies meaning:

39. True or False: Narrowing the target for potential clients helps because it: Concentrates sales efforts to a selective group that is most likely to be most profitable

40. Which of the following qualities would help close the most deals?

41. True or False: Start up companies are almost always succesful in the first few years.

42. For which of the following reasons is cold calling generally discouraged?

43. Underservicing a territory will hurt sales because ________.

44. Which of the following provides value to a business?

45. Business development is the creation of long-term value for an organization from customers, markets, and relationships.

46. True or Fales: An Organization Chart is a diagram that shows the structure of an organization and the relationships and relative ranks of its parts and positions/jobs.:

47. Which of the following parties does a business have to manage relationships with?

48. B2B stands for business to business, True or False

49. Which of the following does Sales Management Information include?

50. True or False? Business development involves creating relationships of long term value.

51. Business networking is a relevant tool in business development.

52. International sales can be hampered by:

53. Long term relationships are important to business development.

54. SEO is a common internet term meaning?

55. Which of the following should be avoided when setting up a breakfast meeting with a prospect?

56. What is the definition of the common business development term 'pipeline'?

57. When a prospect raises objections in a sale, a salesperson should...

58. Which of the following traits distinguishes an excellent salesperson from a good sales person?

59. True or false? Salesmen are generally not protective of their territory and enjoy the opportunity to move to new locations.

60. Which of the following is a common email syntax?

61. What is the most popular CRM in the US?

62. Which of the following should segmentation impact?

63. Selling someone a complimentary good along with a primary good, is an example of ________.

64. True or False? Business development units have a monopoly on new business opportunities.

65. ______ is the process of acquiring information to ensure that clients will benefit from a product .

66. Gathering data on consumers during marketing campaigns is important because:

67. One common method for selecting prices is using discriminatory pricing strategies. This means:

68. NPV and ROI agree except when:

69. NPV takes into account all but:

70. What is the definition of selling in a business development sense?

71. Which of the following is NOT an important question to answer concerning a product's distinguishing characteristics?

72. Which of the following is NOT part of the SMART sales framework?

73. Which of the following is an example of a compelling elevator pitch?

74. True or False: allowing time to accumulate between touches (ie. voicemails, emails, etc) will always 'kill' a deal.

75. Why are breakfast meetings effective?

76. Segmenting your sales team to correspond with prospect locations is an example of _________.

77. Which of the following is NOT a benefit of customer segmentation?

78. True or false? Total closed deals is always the best measure of performance.

79. When is a good time to roll out your segments?

80. What is customer segmentation?

81. In general, business development is another name for traditional sales.

82. ________ in one territory may cause you to lose sales in other territories.

83. Which of the following functions generally does NOT fall under business development?

84. What is one way to gather primary data?

85. Many deals are lost due to the perception that the vending organization does not understand the needs of the client organization. What percentage of potential clients think that way?

86. After you've gathered data, what is the second step in customer segmentation?

87. Dividing Expenses by sales gives you the ____%.

88. How long is the typical B2B selling cycle?

89. After you've launched, when is a good time to perform customer segmentation?

90. Which of the following is an example of a Columbo Close?

91. Which of the following is NOT a Salesforce report type?

92. True or False: A salesperson should close a deal by asking, "What's the next step?"

93. An enthusiastic lead within a larger company is generally called a/an ___________.

94. Sales potential is calculated by:

95. True or False: Voicemail is an effective technique in sales calls.

96. Which of the following is a good time to perform customer segmentation?

97. Marketing Strategies can be composed of:

98. In the Competitive Analysis It's Important to include:

99. What type of question should you ask once you've determined your customer personas?

100. A customer is interested in a fixed price of $2M for a service offering. The salesperson has $2.2M as his lowest price. How should he go about closing the deal?

101. Why are breakfast meetings ideal for closing deals?

102. Which of the following is NOT a common pitfall when finalizing segments?

103. When should a salesperson back off from a prospect?

104. Which of the following is the most effective way to handle objections from a prospect?

105. What is a good way to gather indirect data on customers?

106. What are three phases of a sales cycle?

107. What is one way to go about validating segments?

108. Which of the following types of people is the hardest to close deals with?

109. Which of the following is the ideal ratio of speaking time between a prospect and a salesperson to effectively close a deal?

110. _____ is a dollar measure based on the average company size, wealth, sales, and demographics of a territory.

111. A prospect is a/an _______.

112. The sales _______ is a helpful way to forecast future sales.

113. Which of the following is not a good question to ask while forming segments?

114. After you've gathered and analyze your data, what is the next step in performing customer segmentation?

115. Which of the following is the correct process for closing a sale?

116. When a prospect refers the salesperson's product to their own contacts, they are referred to as _____.

117. Which of the following is NOT a Salesforce membership?

118. Market Penetration Strategy is one of the Strategies underlying Cost Control. True or False

119. Which of the following would be an example of 'demand generation'?

120. What is the most important trait(s) a salesperson needs to have to get business from a prospect

121. What is the 'served market'?

122. Which of the following is NOT an example of a point-of-sale promotional display?

123. Which of the following is NOT a method of sales forecasting?

124. Which of these statements is/are true?i)Loyalty cards cannot be used to target certain products at particular customers.ii)Seasonal variations should not be factored into predictions of sales volume.

125. Where a product is strongly 'differentiated', the seller:

126. A product that is sold below the cost price in order to boost sales of other products is known as a:

127. What is Average Wait Time in an outbound telecalling process?

128. A product or service specifically designed to benefit its association with the success of another product is known as a:

129. Which of the following would NOT be an appropriate response to the introduction of a similar product to the market by a rival company?

130. A small independent retailer needing to stock low volumes of a broad range of products would source its stock ________.

131. Which of the following is characteristic of a monopolistic market?

132. What does sign-posting mean in an outbound sales scenario?

133. Which part of an outbound sales script needs to be recorded?

134. A company's set of processes relating to handling contact with customers is known as:

135. The art of creating and developing the image of a product is known as:

136. Who is the decision maker in an outbound sales process?

137. Which of the following statements is/are true?i)With 'Consultative selling' the emphasis is on offering tailored solutions.ii)'Consultative selling' works best with low-cost high-volume products.

138. Which of the following functions does a gatekeeper perform?

139. Which of the following statements is/are true?i)A 'Theory Y' sales manager would closely monitor the team's performance.ii)A 'paternalistic' sales manager would inform the team of changes rather than consult it.

140. Which of the following statements is/are true?i)Offering financial rewards for strong performance is the best way to motivate staff.ii)Hygiene factors, such as the perception of job security, are not important in getting the job done.

141. Which of the following statements is/are true?i)Negotiations are invariably a zero-sum game.ii)Developing a rapport is detrimental to negotiations.

142. The term 'Dutch auction' is best defined as:

143. Which of the following is NOT typically a reason for outsourcing sales?

144. Which of these is NOT a reason to sell via wholesalers?

145. What does EST mean in outbound sales?

146. Which of the following sales methods would be best suited to the customers who were unable to visit shops and wanted a broad range of products?

147. Which of the following is NOT a valid reason for a firm to implement a price reduction?

148. What is SPH in outbound sales terminology?

149. A telemarketing executive, Charles, wants to sell a product from Nokia. Which of the following are the correct ways to open the call?

150. Which of the following is NOT a key aspect of a sales manager's role?

151. If a member of a sales team is underperforming, what should the manager's first step be?

152. The term 'Sales Intelligence' (SI) refers to:

153. What does the term 'gatekeeper' mean in a sales scenario?

154. Which of the following is NOT an element of the 'promotional mix'?

155. Which of the following is NOT an example of a sales promotion?

156. The acronym 'AIDA' refers to the stages of persuading a customer to purchase a product. Which of the following words is not a part of AIDA?

157. What is the definition of the AIDA model?

158. Which of the following are important ways to contact the decision maker in an outbound sales scenario?

159. What is an IVR?

160. A sales presentation should have _______ to be effective and successful.

161. Which of the following might cause a member of the sales staff's performance to be lower than his/her colleagues?i)Lack of training.ii)Less experience.iii)Personal problems

162. Which of the following statements is/are true?i)The role of marketing is to make the sales environment more favorable.ii)Effective marketing is about reducing the price at which a product can be sold in the desired volumes.

163. Some transactions, especially property-related ones, are brokered by a 'disclosed dual agent'. Which of the following best characterizes this role?

164. Which of the following does not feature in Bruce Henderson's 'BCG Matrix'?

165. Which of the following would not typically be included in a monthly sales report to management?

166. Shopping has become a popular recreational activity. Which of the following facilities often provided in shopping malls does NOT reflect this?

167. While commencing on a sales campaign, the telecalling representative has been asked to divulge only the USP of the product his company is promoting. What would be the focus of his conversation with the prospective client?

168. When is an invoice sent to a customer?

169. In the short run, the firm’s network is _________ while in the long run it is ________.

170. There are two types of disruptive business models ? ________ and ________.

171. When a product enters the maturity stage, the company should consider ________.

172. A true experiment involves the _____ of the independent variable.

173. After the norming stage in team development, a team would most likely move on to the _____ stage.

174. A(n) ____________________ relationship exists when two entities are associated.

175. A(n) ________ server is a server that stores and manages files for network users.

176. The question individuals ask during the norming stage of group development is _____