University Assignment: Prospecting and Qualifying Analysis

This assignment solution focuses on prospecting and qualifying, the initial and critical steps in the sales process. It begins by defining the concepts and illustrates them with a practical scenario involving selling an idea. The solution outlines the seven steps of the selling process, emphasizing the i...Read More

Running head: PROSPECTING AND QUALIFYING
PROSPECTING AND QUALIFYING
Name of the Student
Name of the University
Author Note

1PROSPECTING AND QUALIFYING
Table of Contents
Introduction:...............................................................................................................................2
Discussion:.................................................................................................................................2
Part A-....................................................................................................................................2
Part B-....................................................................................................................................3
Part C-....................................................................................................................................4
Conclusion:................................................................................................................................4

2PROSPECTING AND QUALIFYING
Introduction:
Prospecting and qualifying is the first step of a selling process, which involves
identifying potential customers and comprehending whether they portrays the desire and
ability for a buying decision. After selecting the potential customers, various criteria will be
matched to proceed towards qualifying the prospect (Flint, Paola and Susan). The purpose of
the paper is to assess situations of prospecting and qualifying consumers by identifying leads.
The paper will be concluded by stating the importance of prospecting and qualifying stage of
selling process.
Discussion:
Part A-
Discussion of the seven steps of selling process for a situation of selling an idea to a prospect
is listed below:
1. Prospect and qualify: In a conversation with a friend, I came to know about her need
for a relaxing break from the fast pace life. I thought of suggesting a destination in
reference with a recent vacation I have been to. She was interested for an idea of a
relaxing summer break. Identification of the need of the prospect and aligning the
need with the personal experience (idea) to qualify the prospect/lead (Pels, et al.).
2. Pre-approach: After understanding her preference for the kind of vacation she want, I
recalled a short trip in which we went together near a beach for spending a day of
leisure. In this situation, past experiences or memory played the role of researching
about the background of a suspect for approaching the idea further (Pels, et al.).
3. Approach: I started making conversation about the kind of activities she want in her
break by slowly sharing about my recent visit to Bali and how it turned out to be one

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of the best vacation destination of mine. Approaching towards presenting the idea for
Bali by sharing my decision of selecting the destination.
4. Presentation: I started sharing my experience in Bali where I enjoyed the local culture,
food and weather. This step will present the idea by the explanation of the details and
features of the idea (Pels, et al.).
5. Overcome objections: She was objecting because of the concern of cost involved in
visiting Bali for a short break. I replied to her concern by explaining the presence of
various affordable packages for the purpose of exploring the destination.
6. Close the sale: I started showing her the tourism app which offered the discounted
packages for the trip and helped her in creating an account for booking hotels and air
tickets for Bali.
7. Follow-up: I also asked if she needs any help with utilizing the discount coupons for
booking the flight ticket.
Part B-
The representation of the journey of a customer from the process awareness to the
buying action is termed as sales funnel. Sales funnel is also termed as Purchase funnel
(Duncan, Brendan and Charles).
Leads are very important for selling process as it contributes to the profitability of a
business and it enables the communication with the maturing cosnumer base. By the

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generation of lead, sales people can build a connection with professionals in the same
industry and have awareness about the competition (Mannhold et al.).
Part C-
After the identification of the lead in the tradeshow I would like to understand the
potentiality of the lead to convert into a qualified lead. Research will be conducted after the
lead is qualified for the stage of pre-approaching. Research will include the market position
of the paper company and the probable investment areas and scale of business; these
information can be gathered from secondary research. I would like to understand various
aspects for approaching the controller of the paper company, the current accounting status of
the company, the maintenance of tax planning and structuring, these questions will reflect the
need for the external assistance of the paper company. I will try to understand the issue so
that business solutions can be quoted. I will also ask the about the willingness of the
controller to invest in an external assistance followed with the probable budget associated
with outsourcing services. Therefore, by understanding the need, role of the lead in the
company and budgetary plans I can qualify the lead.
Conclusion:
Therefore, it can be concluded from the paper that prospecting and qualifying is the
most important and the very first step in the selling process which allows a sales
person/business to understand the potential of the target market and build awareness for the
competitors.

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References:
Duncan, Brendan Andrew, and Charles Peter Elkan. "Probabilistic modeling of a sales funnel
to prioritize leads." Proceedings of the 21th ACM SIGKDD International Conference on
Knowledge Discovery and Data Mining. ACM, 2015.
Flint, Daniel J., Paola Signori, and Susan L. Golicic. "Selling." Contemporary Wine
Marketing and Supply Chain Management. Palgrave Macmillan, New York, 2016. 189-208.
Mannhold, Raimund, Hugo Kubinyi, and Gerd Folkers. Lead Generation: Methods and
Strategies. John Wiley & Sons, 2016.
Pels, Peter, et al. "Modern times: Seven steps toward an anthropology of the future." Current
Anthropology 56.6 (2015): 000-000.