700-805 · Question #40
Which approach should be applied when renewing a quote?
The correct answer is B. Solutions led approach. Solutions led approach (B) is correct because when renewing a quote, the focus should be on understanding the customer's evolving needs and presenting tailored solutions that address their specific situation - this builds value and justifies the renewal rather than simply reprici
Question
Which approach should be applied when renewing a quote?
Options
- AProduct led approach
- BSolutions led approach
- CReward led approach
- DConcerns led approach
How the community answered
(15 responses)- A13% (2)
- B73% (11)
- C7% (1)
- D7% (1)
Explanation
Solutions led approach (B) is correct because when renewing a quote, the focus should be on understanding the customer's evolving needs and presenting tailored solutions that address their specific situation - this builds value and justifies the renewal rather than simply repricing existing coverage or terms.
- A (Product led) is wrong because leading with product features during renewal ignores whether those products still fit the customer's current circumstances, making it a generic rather than personalized conversation.
- C (Reward led) is wrong because anchoring the renewal on discounts or incentives undermines perceived value and trains customers to shop around for better rewards rather than recognizing the solution's merit.
- D (Concerns led) is wrong because while addressing concerns is important, leading with concerns creates a defensive, reactive tone rather than a proactive, value-driven discussion.
Memory tip: Think "SOLVE before you SELL" - renewals are the ideal moment to re-diagnose the customer's situation and re-position your offering as the solution, not just a repeat transaction.
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