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Marketing Exam 2 > Chapter 13 > Flashcards

Chapter 13 Flashcards

1
Q

Personal selling

A

Involves personal presentations by the firm’s sales force for the purpose of engaging customers, making sales, and building customer relationships

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2
Q

Salesperson

A

Individual who represents a company to customers by performing one or more activities (prospecting, communicating, selling, servicing, information gathering, and relationship building)

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3
Q

Role of sales force

A

Links company with customers

Coordinates marketing and sales

Effective for complex selling situations

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4
Q

Sales force management

A

Analyzing, planning, implementing, and controlling sales force activities

  1. Designing sales force strategy and structure, recruiting and selecting, training, compensating, supervising, and evaluating salespeople
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5
Q

Types of sales force structures

A
  1. Territorial - sales force organization that assigns each salesperson to an exclusive geographic territory in which that salesperson sells the company’s full line
  2. Product - salespeople specialize in selling only a portion of the company’s products or lines
  3. Customer or market - salespeople specialize in selling only to certain customers or industries
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6
Q

Inside selling

A

Growing much faster than in person selling.

Salespeople conducting business from their offices via phone, online, social, or visits from prospective buyers

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7
Q

Outside selling

A

Reps who travel to call on customers in the field

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8
Q

Team selling

A

Teams of people from differ departments used to service large, complex accounts

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9
Q

Sales force size

A

May range from only a few salespeople to tens of thousands

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10
Q

Recruiting and selecting salespeople

A

Company should analyze sales job and the characteristics of most successful salespeople

Sources of recruitment of salespeople:
•referrals from current salespeople 
•employment agencies 
•internet and social media
•posting ads and notices 
•college placement services 
•salespeople at other companies
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11
Q

Training salespeople

A

Goals of training salespeople

  1. About differ types of customers
  2. How to sell effectively
  3. About company’s objectives, organization, products, and strategies of competitors
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12
Q

Compensating salespeople

A

Fixed amount - salary

Variable amount - commissions or bonuses

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13
Q

Supervising salespeople

A

Tools of supervision

  1. Call plan - shows which customers and prospects to call on and which activities to carry out
  2. Time and duty analysis - salesperson spends time traveling, waiting, taking breaks, and doing administrative chores
  3. Sales force automation systems - digitized sales force operations that let sales pole work more effectively anytime and anywhere
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14
Q

Motivating salespeople

A

Can boost sales force morale through:

  1. Organizational climate - describes feeling that salespeople have about their opportunities, value, rewards for good performance
  2. Sales quotas - standard that states amount salespeople should sell (often related to compensation)
  3. Positive incentives
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15
Q

Evaluating salespeople

A

Management obtains info about salespeople from

  • sales, call, and expense reports
  • monitoring sales and profit performance data in salesperson’s territory
  • through personal observation, customer surveys, and talks with other salespeople

Formal evaluations force management to develop standards for judging performance

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16
Q

New digital technologies

A

Provide salespeople with powerful tools for identifying and learning about prospects, engaging customers, creating customer value, closing sales, nurturing customer relationships

17
Q

Selling process

A
  1. Prospecting and qualifying - identifying qualified potential customers
  2. Preapproach- learning as much as possible about prospective customer before sales call
  3. Approach- should know how to meet and greet buyer and get relationship off on positive note
  4. Presentation and demonstration- “value story” demonstrates how company’s offer solves customer’s problem
  5. Handling objections- should use positive approach, seek out hidden objections, ask buyer to clarify objections, take objections as opportunities to provide more info and turn objections into reasons for buying
  6. Closing- asking customer for an order
  7. Follow up - following up after sale for ensure customer satisfaction and repeat business
18
Q

Value selling

A

Demonstrates and deliver superior customer value, captures a return in value that is fair for both customer and company

Requires:

  • listening to customers
  • understanding customer’s needs
  • coordinating company’s efforts to create lasting relationships based on customer value
19
Q

Sales promotion

A

Short term incentives to encourage purchase or sale of a product or service

Targeted towards
final buyers-consumer promotions
retailers and wholesalers-trade promotions
business customers-business promotions
members of the sales force-sales force promotions

20
Q

Rapid growth of sales promotions

A
  • product managers view promotion as an effective short run sales tool
  • competitors use sales promotions to differentiate their offers
  • advertising efficiency has declined
  • sales promotions help attract today’s more thrift oriented consumers
21
Q

Consumer promotions

A

Urge short term customer buying or boost customer brand engagement

22
Q

Trade promotions

A

Get retailers to carry new items and more inventory, but ahead, or promote the company’s products and give them more shelf space

23
Q

Business promotions (B2B)

A

Generate business leads, stimulate purchases, reward customers, and motivate salespeople

24
Q

Promotion tools

A

Samples- offers trial amount of product, most effective but most expensive
Coupons- save money certificates
Rebates- cash refunds
Price packs- cents off deal, offer consumer savings off regular price of product
Premiums- goods offered either free or at low costs as incentive to buy product
Advertising specialties- promo products imprinted with advertiser’s name, logo, etc.
Point of purchase- displays and demonstrations at point of sale
Contests, sweepstakes, and games- gives consumers chance to win something
Event marketing or event sponsorships

25
Q

Self liquidating

A

Cost charged to the consumer that covers the cost

26
Q

Product placement

A

Used brand name product in movie, TV show, video game, commercial for another product

Reverse product placement- something comes out of movie

27
Q

Trade promotions

A

Used to persuade resellers to carry a brand, give it shelf space, and promote it in ads

Trade promotion tools:
Contests, premiums, displays
Discounts and allowances 
Free goods
Push money- cash or gifts to dealers or their sales forces to “push” manufacturer’s goods
Specialty advertising items
28
Q

Business promotions

A

Used to generate business leads, stimulate purchases, reward customers, and motivate salespeople

Business promo tools:
Conventions and trade shows
Sales contest- salespeople or dealers to motivate them to increase sales performance

Marketing Exam 2 (8 decks)

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