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MKT201 - Intro to Marketing > Chapter 13: Professional Selling > Flashcards

Chapter 13: Professional Selling Flashcards

1
Q

What does a Salesperson Do?

A
  1. Creating value for their firms’ customers
  2. Managing relationships
  3. Relaying customer and market information back to their organizations
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2
Q

When does Role Conflict happen?

A

when the expections people set for you differ from one another

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3
Q

What is a Boundary Spanner?

A

A person that works outside the boundaries of a firm and in the filed

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4
Q

What are the 4 different types of Salespeople?
What are 3 types of names they are commonly called?

A

Missionary Salesperson
Trade Salesperson
Prospectors
Account Managers

Order Getters,
Order Takers
Sales Support

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5
Q

How does a Salesperson create value?

A
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6
Q

What is a transactional relationship?

A
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7
Q

What is a functional relationship?

A
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8
Q

What is an Affiliative Selling Relationship?

A
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9
Q

What is a Strategic Partnership?

A
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10
Q

What are the 4 Selling Strategies?

A

Script-Based Selling
Needs-Satisfaction Sellsing
Consultative Selling
Strategic Partnering

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11
Q

What are the different stages of the Sales Process?

A
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12
Q

What is an Objection?

A
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13
Q

Do customer relationships begin as transactional and move toward strategic partnerships?

A
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14
Q

What are metrics used by Salespeople?

A
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15
Q

What are metrics used by Sales Managers?

A
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16
Q

What are the different phases of the Sales Cycle?

A
17
Q

What is the difference between a Suspect and a Prospect?

A
18
Q

What are some common ethical issues Salespeople come accross?

A
19
Q

What are a few steps used to ensure ethical sales activities?

A
20
Q

What are a few Safeguards companies uses to ensure ethical behavior among Salespeople and Sales Managers?

A
21
Q

What is a Closed-Loop lead Management System? How does it work?

A

information systems that are able to track leads all the way from the point a marketer identifies them to when they are closed

  1. Marketing identifies the lead
  2. Marketing scores the lead: hot, warm, cold
  3. Sales receives lead, calls on hot lead immediately
  4. Sales makes sales call and closes the deal
  5. Sales reports the outcome back to marketing
  6. Marketing evaluates the place where they got the lead from and invests
  7. Repeat Step 1 - 6
22
Q

What is Lead Scoring?

A

The process by which marketing personnel rate the leads to indicate whether a lead is hot, warm or cold

23
Q

What do salespeople do to support marketing managers? Be specific.

A
24
Q

What marketing activities support salespeople, and how does that support help them? Be specific.

A
25
Q

The Different Types of Outsourced Salespeople

A

Independent Agents- agents who work for a company, but is not an employee; Agent can set his own hours, their own activities, and manage themselves; Usually paid by commission

Manufacturer’s Representative- an agent that sells a manufacturer’s product from different manufacturers; (Ex. an agent that sells bathroom fauets from one manufacturer but sells towels and rods from another)

26
Q

What are the Advantages of Outsourcing?

A

More Buyers: A lot of Outsourced companies already have a customer base, they can sell your product to their customers

Less Expensive: Usually straight commission pay; The company that is outsourcing doesn’t have to pay for training

27
Q

What are the Disadvantages to Outsourcing?

A

Lack of Control, the outsourced company chooses when they work and when they don’t, as well as what products to sell and what not to sell.

28
Q

What is a Spiff?

A

(Short for Special Promotion Incentive Funds)

Short-term bonus payments companies use to encourage salespeople to sell certain products; Its to incentive for a salesperson to sell easy to sell products for a profit.

This helps outsourced company with motivation to sell your product or service.

29
Q

Which parts of the sales cycle can be outsourced and to whom?

A
30
Q

What can marketers do to make outsourced sales functions more likely to succeed?

A
31
Q

When does outsourcing make the most sense? The least sense? Why?

A
32
Q

Define Collateral

A

Printed or Digital material to support a salesperson’s message

Ex. brochures, posters, case studies, market studies, clinical studies, statistics, etc.

33
Q

What is the role of the missionary salesperson?

A

This salesperson calls on people who make decisions about products but don’t actually buy them, usually a B2B salesperson

34
Q

What is the role of the trade salesperson?

A

This salesperson calls on retailers and helps them display, advertise, and sell products to consumers

MKT201 - Intro to Marketing (6 decks)

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