Term
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Definition
A company rep. interacts directly with a prospective customer
-personal touch
-selling/sales management jobs-great for college grads. offers a lot of mobility |
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Term
| Personal selling is more important |
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Definition
-when a firm uses push strategy-focused on resellers, have to explain to the resellers the full value of the product.
-In b2b contexts-buy a lot more customer are very important
-with inexperienced customers
-for products brought infrequently
*cost per contact is very high |
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Term
| Technology and Personal Selling |
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Definition
Customer relationship management (CRM) software and partner relationship management (PRM)
Teleconferencing, videoconferencing,and improved corporate websites
Voice over internet protocol
Assorted wireless technologies |
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Term
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Definition
order taker
Technical specialist
Missionary Salesperson
New business salesperson
Team selling and cross-functional team |
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Term
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Definition
| process transactions that are initiated by customers |
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Term
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Definition
| provides sale support through expertise |
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Term
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Definition
| stimulates clients to buy, by promoting the company and building demand. Do not take orders |
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Term
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Definition
| order getter finds new customers and presents the product |
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Term
| Team selling and cross functional team |
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Definition
| bringing together people from varies parts of the organization that work together to satisfy customer needs. |
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Term
| Approaches to Personal selling |
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Definition
Transactional selling:Putting on the hard sell
Relationship selling |
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Term
| Transactional Selling:putting on the hard sell |
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Definition
high pressure process that focuses on making an immediate sale
-with no concern for developing a relationship |
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Term
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Definition
Process of building long-term customers
-mutually satisfying
-Securing
-developing
-maintaining |
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Term
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Definition
converting an interested prospect into someone who sees the product holding value for him/her.
-focus on promoting the benefits of the product |
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Term
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Definition
| ensuring that both parties find more ways to add value |
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Term
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Definition
| building customer satisfactions and loyalty |
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Term
| steps in the creative selling process |
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Definition
Prospecting and qualifying
Preapproach
Approach
Sales presentation
Handling Objections
Closing the sale
Follow up |
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Term
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Definition
developing a list of potential customer also known as prospects or leads
-two main sources
-referrals and cold calling |
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Term
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Definition
| determining how likely they are to become customers by asking questions about interest allegiance to competition and etc. |
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Term
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Definition
compiling background information about prospective customers and planning the sales interview
-What information-purchase history, current needs, interests
-Where from- CRM, Websites, Business Publications |
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Term
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Definition
Contacting the prospect, learning even more about prospects needs
-create a good impression
-builds a rapport find a connection |
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Term
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Definition
Laying out benefits and added value-product advantages over competitors
Inviting customer involvement-should be a two way presentation |
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Term
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Definition
| Anticipating- why the prospects maybe reluctant. expect some of their objections and welcome objections |
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Term
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Definition
gaining the customer commitment in the decision stage
-Last objection close
-assumptive or minor points close
-Standing room-only or buy now close |
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Term
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Definition
| ask for the purchase and any last objection and then address their concerns |
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Term
| Assumptive or minor-points close |
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Definition
| acts as if the purchase is inevitable with only a few small details to be settled |
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Term
| Stay-standing-room-only or buy-now close |
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Definition
| present that the opportunity might be missed if the customers hesitates |
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Term
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Definition
arranging for delivery, payment, and purchase terms
making sure customer is satisfied
bridging to next purchase |
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Term
| The Sales Force Management Process |
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Definition
| Setting sales force objectives, creating a sales force strategy, Recruiting, training,and rewarding the sale force, Evaluating the sale force. |
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Term
| Setting Sale force Objectives |
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Definition
discuss what we want to accomplish and by when
-satisfactions
-retention
-suggestions on new customers
-training of sale force and their reporting |
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Term
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Definition
Performances- are readily measurable total sales or profit
Behavior- includes the sales person must accomplish certain # of sale calls contracts and follow up |
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Term
| Creating a Sale Force Strategy |
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Definition
-Establishing structure and size of a firm's sales force
-Sales Territory |
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Term
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Definition
*Geographic sales force structure-size according to the # of customers in a given area
*Product-class sales territories-sales specialized on a particular product category doesn't sale all the company products.
*Industry Specialization- sales person focused on a particular industry
*Key/major accounts-large and important clients |
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Term
| Recruiting, Training, and Rewarding the Sale force |
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Definition
Recruiting the right people
Sales training-
Paying Salespeople
Call reports |
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Term
| Recruiting the right people |
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Definition
-good listening
-ability to adapt
-Tenacity
-Highly Organized |
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Term
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Definition
| teaches people about the company its product and skills and knowledge required for success |
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Term
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Definition
will motivate them
*straight commission-based on solely on a percentage of sales
-high motivation but no loyalty to the company
*Commission-with-draw plan-based on commission, but you can also charge against future commission
*Straight Salary Plan- paid a set amount regardless of performance
-high retention rate low motivation to work |
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Term
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Definition
| letting your manager know what customers you contacted and how the conversation went. |
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Term
| Evaluating the Sale force |
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Definition
is it meeting it objectives
Possible causes of failure- design of strategy flawed,uncontrollable factors |
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Term
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Definition
| Any direct communication to a consumer or business recipient designed to generate a response |
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Term
| Types of Direct marketing |
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Definition
mail-order
telemarketing
direct response advertising
M-Commerce |
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Term
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Definition
*catalogs- is collection of products offered for sale in book form, usually consisting product descriptions accompanied by photos of the items
*direct mail-a brochure or pamphlet offering a specific good and service at one point in time |
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Term
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Definition
the use of the telephone to sell directly to consumers and business customers
-more profitable for business than consumer markets
2003 FTC created national do not call registry |
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Term
| Direct response Marketing |
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Definition
a direct marketing approach that allows the consumer to respond to a message by immediately contacting the provider to ask questions or to order the product
-Direct Response TV (DRTV)
QVC, HSN |
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Term
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Definition
Promotional and other e-commerce activities transmitted over mobile phones and other mobile devices such as Personal digital Assistance (PDA)
Short messaging systems- m-commerce through a text message
Spim-instant message version of spam
Adware- software that runs undetected, tracking your web habits and interests, presenting pop up advertisements, and resetting your homepage |
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