S111-ind Overcoming Objections & Value (Benefit) Statements Quiz - Au

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| By Damian Mills

Damian Mills

Community Contributor

Quizzes Created: 19 | Total Attempts: 4,294

Questions: 10 | Attempts: 77 | Updated: Mar 20, 2023

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S111-ind Overcoming Objections & Value (Benefit) Statements Quiz - Au - Quiz

Please complete the following self-assessment quiz - Test your own knowledge but if necessary please refer back to the training materials, manuals and/or other relevant resources to complete the questions

Questions and Answers

1.

Which of the following terms is not normally associated with the word "Objection"?
- A.
  
  Disapproval
- B.
  
  Opposition
- C.
  
  Disagreeing
- D.
  
  Accommodating
- E.
  
  Resistance
Correct Answer
D. Accommodating

Explanation
The term "Accommodating" is not normally associated with the word "Objection" because it implies a willingness to adapt or compromise, while the other terms (Disapproval, Opposition, Disagreeing, Resistance) suggest a more confrontational or conflicting stance.

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2.

Objections can typically be overcome with a single response! True or False?
- A.
  
  True
- B.
  
  False
Correct Answer
B. False

Explanation
This statement is false. Objections cannot typically be overcome with a single response. Objections often require multiple responses and a thorough understanding of the objection and the underlying concerns of the person raising the objection. It is important to address objections with empathy, provide relevant information, and address any misconceptions or doubts that the individual may have. A single response may not be sufficient to overcome objections and convince the person to change their viewpoint.

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3.

Which of the following is not a typical 'value statement' that you would use in front of a client?
- A.
  
  IBISWorld is the largest producer of Industry reports in Australia and the US
- B.
  
  IBISWorld's client retention rate is above 94%
- C.
  
  IBISWorld is used by all the major commercial banks
- D.
  
  IBISWorld provide's free fruit to all its staff once a week
Correct Answer
D. IBISWorld provide's free fruit to all its staff once a week
4.

In the early stages of the sales/upgrade process providing a Value Statement (also know as a Benefit Statement) may help reduce the number of of objections you may encounter from your client?
- A.
  
  True
- B.
  
  False
Correct Answer
A. True

Explanation
Providing a Value Statement or Benefit Statement in the early stages of the sales/upgrade process can help reduce objections from clients because it allows them to understand the value and benefits they will receive from the product or service. By highlighting the advantages and addressing potential concerns upfront, clients are more likely to see the value and be less resistant to objections. This approach helps build trust and credibility, making the sales/upgrade process smoother and more successful.

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5.

Among other things 'Value Statements' (also known as a benefit statements) can generally be used to demonstrate IBISWorld's expertise; articulate a competitive advantage; demonstrate how time and/or money can be saved. True or False?
- A.
  
  True
- B.
  
  False
Correct Answer
A. True

Explanation
Value statements, also known as benefit statements, can indeed be used to demonstrate IBISWorld's expertise, articulate a competitive advantage, and show how time and/or money can be saved. This means that the statement is true. Value statements are important in showcasing the value and benefits that IBISWorld can provide to its clients, highlighting the expertise and advantages they have over competitors, and emphasizing the potential cost and time savings that can be achieved by utilizing their services.

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6.

Which of the following statements would be typically deemed an "Objection" when talking to client/prospect? (Hint: There are 3 objections listed below)
- A.
  
  It costs too much way more than what we can afford
- B.
  
  We have analysts that do our own in-house research
- C.
  
  We want to incorporate independent research into our process
- D.
  
  I need to speak to my Manager first about any purchase decision
- E.
  
  My team could definitely use this resource
Correct Answer(s)
A. It costs too much way more than what we can afford
B. We have analysts that do our own in-house research
D. I need to speak to my Manager first about any purchase decision

Explanation
The three statements that would be typically deemed as objections when talking to a client/prospect are: "It costs too much way more than what we can afford," "We have analysts that do our own in-house research," and "I need to speak to my Manager first about any purchase decision." These statements indicate potential barriers or concerns that the client/prospect may have regarding the cost, internal capabilities, and decision-making process.

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Current Version
Mar 20, 2023

Quiz Edited by
ProProfs Editorial Team
Nov 26, 2015

Quiz Created by
Damian Mills

S111-ind Overcoming Objections & Value (Benefit) Statements Quiz - Au

Which of the following terms is not normally associated with the word "Objection"?

Objections can typically be overcome with a single response! True or False?

Which of the following is not a typical 'value statement' that you would use in front of a client?

In the early stages of the sales/upgrade process providing a Value Statement (also know as a Benefit Statement) may help reduce the number of of objections you may encounter from your client?

Among other things 'Value Statements' (also known as a benefit statements) can generally be used to demonstrate IBISWorld's expertise; articulate a competitive advantage; demonstrate how time and/or money can be saved. True or False?

Which of the following statements would be typically deemed an "Objection" when talking to client/prospect? (Hint: There are 3 objections listed below)