Chapter 21 Flashcards
Personal Selling
The two-way flow of communication between a buyer and seller, often in a face-to-face encounter, designed to influence a person’s or group’s purchase decision
Sales Management
Planning the selling program and implementing and evaluating the personal selling effort of the firm
Relationship Selling
The practice of building ties to customers based on a salesperson’s attention and commitment to customer needs over time
Order Taker
Processes routine orders or reorders for products that were already sold by the company
Order Getter
Sells in a conventional sense and identifies prospective customers, provides customers with information, persuades customers to buy, closes sales, and follows up on customers’ use of a product or service
Team Selling
The practice of using an entire team of professionals in selling to and servicing major customers
Personal Selling Process
Sales activities occurring before, during, and after the sale itself, consist of 6 stages:
1) prospecting
2) pre approach
3) approach
4) presentation
5) close
6) follow up
Lead
The name of a person who may be a possible customer
Prospect
A customer who wants or needs the product
Qualified Prospect
If an individual wants the product, can afford it, and is the decision maker
Cold Calling
Approach for generating leads either in person or by phone
Need-Satisfaction Presentation
The presentation stage:
1) stimulus-response format
2) formula selling format
3) need satisfaction format
Adaptive Selling
A need-satisfaction presentation format that involves adjusting the presentation to fit the selling situation, such as knowing when to offer solutions and when to ask for more information
Consultative Selling
A need satisfaction presentation format that focuses on problem identification, where the salesperson serves as an expert on problem recognition and resolution
Upselling
The practice of introducing a higher-end product solution than the one in question
Cross-Selling
The practice of proposing related or complementary products and services
Objections
Excuses for not making a purchase commitment or decision
Geographical Sales Organization
The simplest structure, where the US is first divided into regions and each region is divided into districts or territories. Salespeople are assigned to each district with defined geographical boundaries and call on customers to represent products
Customer Sales Organization
When different types of buyers have different needs - different salesforces call on each separate type of buyer or marketing channel
Product Sales Organization
When specific knowledge is required to sell certain types of products
Customer Relationship Management (CRM)
Consolidate customer and sales information in a single database so that salespeople and sales managers can more easily access, analyze, and manage a company’s relationship with individual customers or accounts
Salesforce Automation (SFA)
The use of various technologies to make the sales function more effective and efficient
Marketing Automation
Applies systems and technologies, including AI to provide insight to salespeople
Customer Service and Support Automation
Process and technologies that supply customers with information about post-sale activities, including installation, repair, replacement, and replenishment
