Chapter 12: Personalized Promotion Flashcards
Any selling activity that involves direct interaction between buyer and seller.
personal selling
What is the stereotype of selling/salespeople?
Negative; they are loud and pushy, just trying to get you to by something as quick as possible
What is the reality of selling (according to the book)?
Sales positions are… (3 things)
- Boundary spanning (dealing with both internal and external parts of the company)
- Highly varied from day-to-day
- Objectively quantifiable in terms of performance (not being judged based on internal assessments; if you hit your numbers, you’re good)
In relation to the reality if selling, there are _________ and _______. Describe these two different types of sellers.
- Hunters – what we think of when we think of salespeople; the people who are doing the real selling
- Farmers – the people who check up on you and form that ongoing relationship
T or F: Partners at professional firms (ex: accounting, lawyer) are essentially salespeople.
True (have to sell your business to people)
A recent study found that ____% of CEOs come from sales.
25
Some “sexy” sales jobs are not that sexy at times. What’s an example of this?
Pharmaceutical sales – may seem great but you’re having to chase busy doctors around all the time
The reality of selling is that selling is about ________, ________, and ________.
listening; understanding; preempting
To be good at selling, you must enjoy ________, be good at ________, and handle a lot of _________.
people; listening; rejection
_________ are quick, snap judgements. _________ are slow, analytical judgements.
intuition; deliberate
The biggest influence on whether a customer purchases or not is the extent to which a salesperson _______ and give recommendations based on that feedback.
listens
T or F: By combining high deliberate accuracy and high intuitive accuracy, they have a synergistic effect of increasing purchase likelihood and purchase amount.
True
(if you have really good intuition about people and are a really good listener, this drives sales)
Which plays a bigger role in relation to how much people spend (purchase amount), intuition or deliberateness?
Intuition
What are the 7 steps in the personal selling process?
- Prospecting (finding people who are interested in what you have to offer)
- Preparation (doing your homework on the company, what they’re facing, what industry they’re in)
- Approach (figuring out how to make contact with them/their buying center)
- Sales Presentation (presenting the sale to them)
- Meeting Objections (being able to answer concerns and stuff)
- Trial Close
- Closing the Sale (the act of explicitly asking a prospect to place an order)
Which steps in the personal selling process fall into these descriptive categories of what’s happening during the process?
a. Do the homework (2 steps)
b. Make contact (1 step)
c. Make the case (2 steps)
d. Close the loop (2 steps)
a. Prospecting and preparation
b. Approach
c. Sales presentation and meeting objections
d. Trial close and closing the sale
In the personal selling process, when do you want to get objections from the person you’re selling to? Early or later?
EARLY so you have time to talk about them with the person/company you’re selling to.
What is the biggest mistake beginning salespeople make?
Not asking for the order in the “Closing the Sale” step of the personal selling process; they don’t try to close the sale
(A salesperson should always ask, even when the sales presentation went badly or when it appeared significant objections still remained. In other words, it never hurts to ask.)
an unscripted sales presentation that begins with the salesperson questioning a prospect about their needs and proceeds to the salesperson responding to the needs with specific product information and recommendations.
adaptive selling
(requires salespeople to adjust their sales presentations to meet the needs of the circumstances at that moment)
a model which represents the aggregate customer portfolio as customers transition through the sales process; like a mirror view of the sales process, but from the customer perspective
sales funnel
What are the 6 stages of the sales funnel (from beginning to end)?
- Awareness
- Interest
- Consideration
- Intent
- Evaluation
- Purchase
Why does the sales funnel model get narrower as you get more towards the purchase stage?
Because people fall out over time through the process.
What does the funnel say about the ratio of prospects to sales calls a salesperson should have?
It says that even though you have a lot of prospects, a lot of those numbers aren’t going to materialize
(sales calls will be less than prospects; it’s okay for it to go from a lot of prospects to a little sales calls– this is where accepting rejection comes in)
T or F: The sales funnel tells salespeople that the top of the funnel, awareness, has to be full.
True
(if you aren’t getting prospects in there, then it will dry up)
What is the concept of sales vs. service?
- Sales: focus on actively acquiring new customers by selling products or services, aiming to close deals and generate revenue; making the sale**
- Service: focus on supporting existing customers by addressing their needs, resolving issues, and maintaining positive relationships post-purchase, prioritizing CUSTOMER SATISFACTION over immediate sales conversion; helping the sale happen, but not making sale** (ex: Target cashiers)
