Term
| Advantages of Personal Selling |
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Definition
Personal selling provides detailed explanation or demonstration of the product.
Message can be varied according to motivations of each customer.
Personal selling can be directed only to qualified prospects.
Costs can be controlled by adjusting the size of the sales force in one-person increments.
Personal selling is considerably more effective than other forms of promotion in obtaining a sale and gaining a satisfied customer. |
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Term
| Personal selling is important if… |
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Definition
The product has a high value, It is a custom-made product, There are few customers, The product is technically complex, Customers are concentrated.
Examples: Insurance policies, custom windows, airplane engines |
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Term
| Advertising and sales promotion are more important if… |
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Definition
The product has a low value, It is a standardized product, There are many customers, Customers are geographically dispersed.
Examples: Soap, magazine subscriptions, cotton t-shirts |
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Term
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Definition
| Relationship selling, or consultative selling, is a sales practice that involves building, maintaining, and enhancing interactions with customers in order to develop long-term satisfaction through mutually beneficial partnerships. |
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Term
| Customer Relationship Management |
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Definition
| Identify customer relationships, Understand interactions of the customer base, Capture customer data, Leverage customer information |
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Term
| Companies that have CRM systems: |
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Definition
Follow a customer-centric focus or model
Use knowledge management systems
Organize information gathered through the “learning” process
Learn via interactions |
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Term
| Interactions of the Current Customer Base |
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Definition
CRM is built on interactions between customers and organizations.
Touch points occur at a wide variety of locations.
-Web-based interactions are an increasingly popular.
-One popular touch point is the point-of-sale touch point. |
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Term
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Definition
| Rather than focusing on the amount of data that can be obtained, companies should focus on the type of data to be acquired and how it can be used to enhance relationships. |
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Term
| Leveraging Customer Information |
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Definition
| Campaign management, Retaining loyal customers, Cross-selling other products and services, Designing targeted marketing communications |
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Term
| Steps in the Selling Process |
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Definition
| Generate Leads, Qualify Leads, Probe Customer Needs, Develop Solutions, Handle Objectives, Close the Scale, Follow Up |
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Term
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Definition
| A form of lead generation in which the salesperson approaches potential buyers without any prior knowledge of the prospects’ needs or financial status. |
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Term
| Approaching the Customer and Probing Needs |
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Definition
| A needs assessment is a determination of the customer’s specific needs and wants and the range of options a customer has for satisfying them. |
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Term
| Developing and
Proposing Solutions: Sales Proposal |
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Definition
| A formal written document or professional presentation that outlines how the salesperson’s product or service will meet or exceed the prospect’s needs. |
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Term
| Developing and
Proposing Solutions: Sales Presentation |
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Definition
| A formal meeting in which the salesperson presents a sales proposal to a prospective buyer. |
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Term
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Definition
In the final step of the selling process—the follow up—the salesperson must ensure:
Delivery schedules are met
Goods or services perform as promise
Buyers’ employees are properly trained to use the products |
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Term
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Definition
Define sales goals and the sales process
Determine the sales force structure
Recruit and train the sales force
Compensate and motivate the sales force
Evaluate the sales force |
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Term
| Sales Goals and the Sales Process |
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Definition
Sales goals provide salespeople with targets and measurements.
Usually goals are developed in terms of desired dollar values, market share, or profit level.
Goals are stated as quotas, or statements of a salesperson’s goals. |
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Term
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Definition
Sales department organization:
Regional
Product Line
Marketing Function Performed
Market or Industry
Client or Account
Allows for more specific and better customer service |
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Term
| Evaluating the Sales Force |
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Definition
Performance evaluations allow managers to review the strengths and weaknesses of the sales force.
This information can then tell a manager what sales skills might need to be reassessed or retrained. |
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Term
| The Impact of Technology on Personal Selling |
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Definition
| Cell Phones, Laptops, Pagers, E-Mail, Electronic Organizers, Internet |
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