1-21 Flashcards
What is the definition of selling?
Human driven interaction between and within individuals and organizations: No sequential steps, involves many people, creates value, customer value proposition
In a sales transaction, what is the buyer’s profit? The seller’s profit?
- Buyer: Value
- Seller: Selling price - cost of goods sold & selling costs
What is the personal value equation?
Benefits received - (selling price + time and effort to purchase)
How can time savings enter into the sales equation?
They can offset higher prices - pay more for service, expertise convenience.
What are three ways that salespeople can add value in a selling situation?
- Provide interface between buying and selling companies
- Encourage two way communication
- Help foster trust and commitment
- Identify networks of key players
- manage situations
- be attended to activities that increase value
- provides closure
In terms of adding value, which is the difference between unpaid and paid sales promotion? The difference between personal and impersonal sales promotion?
Unpaid = publicity + WOM Paid = Ads/promos + personal selling/e-mail Personal = Personal selling / e-mail + WOM Impersonal = Ads + Publicity
What are three tasks that client relationship managers do?
- Prospecting new customers
- Demonstrating products
- increasing sales to existing customers
- negotiation price & delivery terms
- writing orders
- making sales presentations
- make orders go smoothly
What are three benefits to team selling?
- Better performance
- higher job satisfaction
- higher turn over intention
Define and provide a diagram for the following sales channels: B2B industrial salesperson, B2B trade salesperson, B2B missionary salesperson, B2C direct salesperson.
B2B industrial salesperson
Manufacturer or service provider
–> industrial sales person –> business customer
(Pictures)
B2B Trade salesperson Manufacturer --> Trade salesperson --> Distributor --> Distributor salesperson -->Business customer
B2B Missionary salesperson
Manufacturer
–> Missionary salesperson
–> Business customer
B2C direct salesperson
- Manufacturer
- -> Direct salesperson
- -> Consumer
How is selling to an existing customer different from selling to a new customer?
They are at least a little informed on your product. Working on maintaining relationships. Either a straight or modified rebuy
new customer is much more difficult because you have to build credibility, trust
What is the difference between “order taking” and “order getting”? Which is preferred (from the organization)? Which is easier (as a salesperson)?
- taking: the customer told me something and that’s it (I want a cheeseburger)
- getting: upselling, asking for a little bit more (want apple pie with that?) ***use word “upselling” to describe this in exam
Preferred by Organization: order getting
Easier for salesperson: order taking
What is the difference between a field salesperson and an inside salesperson?
- Field: Communicate with the customer face to face at the customers location
- Inside: Communicate with customers by telephone of computer at employer’s location
What is the definition of emotional intelligence? Why is high emotional intelligence an important quality for a salesperson to have?
- Ability of effectively understand and regulate one’s own emotions and to read and and respond to the emotions of others.
- Avoid impulse, empathy, effectiveness, high performance + retention
What is the definition of ethics?
The principles governing behavior of an individual or a group
How did the sales profession change from the early days (pre-1960) to today in terms of objective, orientation, and the role of the salesperson?
Objective: Making sales, making sales, satisfying customer needs, building relationships
Orientation: Short-term seller needs, short-term seller needs, short-term customer needs, Long-term customer and seller needs
Role: Provider, persuader, problem solver, value creator
