CMGT/556 Qualifying a Prospective product or service

Jun 27th, 2015
Business Finance
Price: $25 USD

Question description

Review the Skillsoft Job Aid, "Preparing to Qualify a Prospect."


Choose one of the products or services your company offers, or think of an idea you had to sell a product. Then, follow the steps in the Skillsoft Job Aid: Preparing to Qualify a Prospect

Job Aid

Preparing to Qualify a Prospect

Purpose: Use this job aid to help you prepare to qualify a prospect.

The first step during a detailed analysis is to research the prospect and how your product or service can resolve the prospect's business problem.

Step 1: Researching your prospect
Area of researchQuestion
Ideal customer profileWhat is my ideal customer profile?

- Type of industry

- Annual revenue

- Number of employees

- Customer base

- Corporate values and culture
Prospect's business situationWhat is the current business situation of the prospect's company? 

Is the prospect in a buying position?
Prospect's goalsWhat are the goals of the prospect?
Prospect's needsWhat is the prospect's business need? 

How great is that need?

How can my product or service help address the need?
Prospect's decision-making processWho is the decision maker? 

What functional area does the decision maker belong to? 

What should be the focus of my sales pitch?
ObjectionsWhat are some of the possible objections the prospect may raise?

What are two solutions that I can offer to each of these objections?
ClaimsHow can I back up my claims that my product or service will resolve a prospect's business problem?
Competitive edgeWhy would a prospect want to buy my product or service? 

How will my product or service contribute toward the prospect's competitiveness?
CommitmentsWhat commitments do I want from the prospect?
Prospect's success criteriaWhat success criteria will the prospect use to judge my product or service?

A qualification meeting can provide further information about a prospect. To plan for this meeting, it's useful to create a meeting worksheet.

Step 2: Planning a qualification meeting
My objectivesMy strategyMy agenda
What do I want to achieve from a qualification meeting?What strategy can I employ to ensure a prospect is willing to meet me?What questions do I need to ask to follow up on the results of my research?
What are my company's and my prospect's business objectives?What value do I bring to the meeting?How do these questions align to my objectives?
How do my objectives meet my company's and my prospect's business objectives?What are the advantages of my product or service?
How can my product or service help solve a prospect's business problem?

Tutor Answer

(Top Tutor) khakaan
School: Cornell University

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