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BUS 466 - Personal Selling
Chapter 1
13
Marketing
Undergraduate 4
02/04/2012

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Term
value
Definition
the total benefit that the seller's products & services provide to the buyer (customer value proposition)
Term
personal selling
Definition
a person-to person business activity in which a salesperson uncovers and satisfies the needs of a buyer to the mutual long-term benefits of both parties
Term
what do salespeople do?
Definition
client relationship manager, account team manager, vendor and channel manager, info provider to their firm
Term
what is the 80/20 rule?
Definition
listen 80%, talk 20%
Term
what is a hunter? farmer?
Definition
hunter-just makes a sale
farmer-cultivates a relationship
Term
what is CRM?
Definition
customer relationship mgmt.
Term
All things...
Definition
all things being equal people will buy from people they know, all things being not so equal, people will still buy from people they know.
Term
distribution channel
Definition
a set of people & organizations responsible for the flow of products and services from the producer to the ultimate user.
Term
characteristics of successful salespeople
Definition
self-motivated, dependability and trustworthiness, ethical sales behavior, customer and product knowledge, ability to use info technology
Term
emotional intelligence
Definition
the ability to effectively understand and regulate one's own emotions & to read & respond to the emotions of others
Term
are salespeople born or made?
Definition
made; companies spend billions of dollars each year on training
Term
rewards in selling
Definition
independence and responsibility; financial rewards, mgmt opportunities
Term
"be careful.."
Definition
be careful what you ask for, you just may get it.
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