Chapter 1: Relationship selling opportunities in the information economy

Question 1

1. Define Personal Selling and describe the 3 prescriptions of a personal selling philosophy.

Answer 1

▸Personal Selling: Process of developing relationships; discovering customer needs; matching appropriate products with those needs; and communicating benefits through informing reminding, or persuading.

• 3 prescriptions of personal selling philosophy (Strategic/Consulting Selling Model):
  1. Adopt the marketing concept.
  2. Value personal selling.
  3. Assume role of a problem solver or partner in helping customers make buying decisions.

Question 2

2. Describe the emergence of relationship selling in the age of information.

Answer 2

▸Selling 2.0: Information technology tools along with innovative sales practices used to create value for both buyers and sellers by improving the speed, collaboration, customer engagement, and accountability of the sales process.

▸Value-Added Selling: Improving the sales process to create value for the customer. Salespeople add value when they offer better advice and product solutions, carefully manage customer relationships, and provide better service after the sale.

Question 3

3. Discuss the regarding aspects of a career in selling today.

Answer 3

• Freedom to manage one’s own time and activities.
• Above-average income.
• Above-average psychic income (factors that provide reward; helps to satisfy the need for recognition and security, motivates to achieve higher levels of performance).
• Opportunity for advancement.
• Opportunities for women.

Question 4

4. Discuss the different employment setting in selling today.

Answer 4

*3 Major career options and employment opportunities in personal selling: 1. Services, Business Goods, 3. Consumer Goods.
▸Inside salesperson: Salesperson who performs selling activities at the employer’s location, typically using the phone and email.
▸Telemarketing: A common form of outbound inside sales that serves several purposes, including sales and service.
▸Outside salesperson: A person who travels to meet prospects and customers in their place of business residence.
▸Trade selling: Refers to the sales of a product or service to another member of the channel of distribution.
▸Missionary or detail sales: Sales made when the manufacturer’s salesperson generates goodwill and stimulates demand among channel members, rather than selling direct to end users.

Question 5

5. Explain how personal selling skills have become one of the master skills needed for success in the information age, and how personal selling skills contribute to the work performed by knowledge workers.

Answer 5

• Today’s workforce is made up of millions of knowledge workers who succeed when they add value to information, the new economy rewards people who collect, organize, clarify, and present information in a convincing manner.
• Personal selling skills contribute to 4 groups of knowledge workers:
  1. Managerial Personnel.
  2. Professional Accountants, Consultants, Lawyers, Architects, Engineers, etc.
  3. Entrepreneurs.
  4. Marketing personnel and customer service representatives.

Question 6

6. Identify the 4 major sources of sales training.

Answer 6

1. Corporate sponsored training.
2. Commercial Vendors training.
3. Certification programs.
4. College and universities courses.