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Marketing 291.17
N/A
24
Marketing
Undergraduate 2
12/10/2009

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Cards

Term
Personal Selling
Definition
The two-way flow of communication between a buyer and a seller, often in a face-to-face encounter, designed to infulence a person's or group's purchase decision
Term
Sales Management
Definition
Planning the selling program and implementing the personal selling effort of the firm.
Term
Relationship Selling
Definition
Practice of building ties to customers based on a salesperson's attention and commitment to customer needs over time.
Term
Order Taker
Definition
Proceses routine orders or reorders for products that were already sold by the company.
Term
Inside Order Taker
Definition
Also called order clerks, or sales clerks, typically answer simple questions, take orders, and complete transactions with customers.
Term
Inbound Telemarketing
Definition
Use of toll-free telephone numbers that customers can call to obtain information about products or services and make purchases.
Term
Order Getter
Definition
Salesperson who sells in a conventional sense and identifies prospective customers, provides customers with information, persuades customers to buy, closes sales, and follows up on customers' use of a product or service.
Term
Personal Selling Process
Definition

Sales activities occuring before and after the sale itself, consisting of six stages.

1.  Prospecting

2.  Preapproach

3.  Approach

4.  Presentation

5.  Close

6.  Follow-up

Term
Preapproach
Definition
Stage that involves obtaining further information on the prospect and deciding on the best method of approach.
Term
Approach
Definition
Stage that involves the first meeting between the salesperson and prospect.  Objectives are to gain the prospects attention, stimulate interest, and build the foundation of the sales presentation.
Term
Presentation
Definition
Stage at the core of the order-getting selling process.  Objective is to turn prospect into a customer.
Term
Stimulus-Response Format
Definition
Assumes that given the appropriate stimulus by the sales person, the prospect will buy.  Salesperson tries one appeal after another, hoping one will hit the right button.
Term
Formula Selling Format
Definition
Based on the view that a presentation consists of information that must be provided in an accurate, thorough, and step-by-step manner to inform the prospect. A popular version of this format is called the Canned Sales Presentation.
Term
Need-Satisfaction Format
Definition
Emphasizes probing and listening by the salesperson to identify needs and interests of prospective buyers.  Once idetified, the salesperson tailors the presentation to to the prospect.
Term
Adaptive Selling
Definition
A need-satisfaction sales presentation that involves adjusting the presentation to fit the selling situation
Term
Consultative Selling
Definition
Focuses on problem definition, where the salesperson serves as an expert on the problem recognition and solution.
Term
How to Handle Objections
Definition

1.  Acknowledge and convert the objection

2.  Postpone

3.  Agree and Neutralize

4.  Accept the objection

5.  Denial

6.  Ignore the objection

 

Term
Close
Definition
Stage in the selling process that involves obtaining a purchase commitment from the prospect.  Most important stage and also most difficult because salesperson must determine when the prospect is ready to buy.
Term
Follow-Up
Definition
Includes making certain the cusomer's purchase has been properly delivered and installed.  Any difficulties are addressed.  Solidifies the buyer-seller relationship.
Term
Sales Plan
Definition

Statement describing what is to be achieved and where and how the selling effort of salespeople is to be directed.

 

Involves 3 tasks

1.  Setting objectives

2.  Organizing the salesforce

3.  Developing account managment policies

Term
Major Account Management
Definition
Practice of using team selling to focus on important customers so as to build mutually beneficial, long-term, cooperative relationships; also called key account managment.
Term
Account Management Policies
Definition
Policies that specify whome salespeople should contact, what kinds of selling and customer service activities should be engaged in, and how these activities should be carried out
Term
Sales Quota
Definition
Specific goals assigned o a salesperson, sales team, branch sales office, or sales district for a stated period.
Term
Salesforce Automation
Definition
Use of technology to make the sales function more effective and efficient
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