Assignment 3: Develop a Prospect List (10%) Instructions and Submission
In Assignment 3, you will develop a list of qualified prospects for the product or service you chose in Assignment 1.2. The assignment includes both a planning element and an active element where you create a list of potential customers based on what you have learned from Module 3.
A: Review Feedback from Earlier Assignments
Before beginning this activity, you should review the feedback from your Open Learning Faculty Member on your Integrated Assignment Plan, and make any necessary adjustments.
You may also want to review the feedback you received from Assignment 2 to confirm that you have a clear understanding of the nature and quality of work that your Open Learning Faculty Member expects of you.
B: Complete the Assignment
In a report of approximately 1,000 words, document the following:
Your Plan (500–700 words) (40 marks)
Use the material that you have generated from Module 3, Activity 2, Part B: The Sales Funnel. Draw a diagram of a sales funnel that represents your product choice (Remember the concept of the sales funnel is not covered in your textbook, you must do a search on this topic). Your sales funnel diagram (20 marks) should include:
The major stages you would define in your sales process. Give a description of each stage in writing.
How many potential customers you think you would need at each stage in the process. Include this in your diagram.
How long you think it would take for a prospect to move from the beginning of the funnel to a final sale. Include this in your diagram
What are the criteria that you will use to qualify prospects for this sales task? Include at least five detailed criteria. (10 marks)
What sources will you use to generate potential prospects? Where will you find that information? These sources must be available for public use. Review Module 3, Topic 3 for ideas. Your Open Learning Faculty Member needs to be able to verify these sources. No internal document/data of any organization is allowed. Be specific. For example, do not just list “business directories” but rather “2018 Regional Mall directory for South Western Ontario, published by the Ontario Retail Council.” Include at least eight specific sources. These sources will be used to create your prospect list in the next section. (10 marks)
Your Prospect List (1-page in a table format) (25 marks)You are required to look into the public sources that you have identified, and make a decision as to who could have good business potential. Create a prospect list of at least thirty prospects. Use the table function of MS Word to build the list and include all the relevant information that you would need to include as a salesperson. At the minimum, it should include the potential customer’s name/company name, contact information, and why you think this prospect may present a good business opportunity. Do not obtain a list from any other source(s) or create a list with fictitious names. This is considered academic dishonesty. You are required to build the list from scratch on your own. If you are intending to complete primary research, for example, speaking directly to people, you will need to submit an application to the Research Ethics Board prior to conducting such study. Failure to do so will make the data collected inadmissible for grading. If you plan to conduct primary research, please discuss this with your Open Learning Faculty Member
Reflection (300 words) (20 marks)
If you were a salesperson selling this product/service, how confident would you feel that you could generate a good prospect list from the sources that you’ve listed?
How would you decide the order in which you would call on these prospects? Specifically, which would be your first three calls?
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