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2nd Yr | 1st Sem | Salesmanship > Chapter 3: Understanding Buyers > Flashcards

Chapter 3: Understanding Buyers Flashcards

1
Q

Salespeople will benefit from being able to identify the …..

A

Buyer’s communication style

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2
Q

The role of the salesperson will vary based on the type of …

A

Buying decision

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3
Q

Business markets operate differently than consumer markets, and those differences affect the ….

A

Selling process

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4
Q

Buyer’s needs may be a mix of ….

A

situational
functional
social
knowledge needs

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5
Q

Distinguishing Characteristics of Business Markets:

A

• Concentrated Demand
• Derived Demand
• Higher Levels of Demand Fluctuation
• Purchasing Professionals
• Multiple Buying Influences
• Close Buyer-Seller Relationships

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6
Q

Categories of Buyers:

A
  1. Consumer Markets
  2. Business Markets
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7
Q

Category of buyers for people (personal use)

A

Consumer market

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8
Q

Category of buyers for firms, institutions, governments, non-profit organizations

A

Business Markets

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9
Q

Buying Decision Process:
(8)

A

A. INITIATING the relationship
1. Recognition of Need
2. Description of Desired Characteristics

B. DEVELOPING the relationships
3. Determination of Desired Characteristics
4. Search and Qualification of Potential Sources
5. Acquisition and Analysis of Proposals
6. Evaluation of Proposals and Selection of Suppliers
7. Selection of an Order Routine

C. ENHANCING the Relationships
8. Performance Feedback and Evaluation

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10
Q

A. Initiating the Relationship
(2)

A
  1. Recognition of Need
  2. Description of Desired Characteristics
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11
Q

B. Developing the Relationships
(5)

A
  1. Determination of Desired Characteristics
  2. Search and Qualification of Potential Sources
  3. Acquisition and Analysis of Proposals
  4. Evaluation of Proposals and Selection of Suppliers
  5. Selection of an Order Routine
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12
Q

C. Enhancing the Relationships

A
  1. Performance Feedback and Evaluation
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13
Q

Types of Buyer Needs:

A
  1. Situational Needs
  2. Functional Needs
  3. Social Needs
  4. Psychological Needs
  5. Knowledge Needs
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14
Q

e.g. I need a copier now BECAUSE I have a major project I need to complete.

A

Situational needs

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15
Q

e.g. I need a copier that SORTS AND STAPLES.

A

Functional needs

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16
Q

e.g. I need a state-of-the-art copier SO I WILL BE RECOGNIZED as of the technology-savvy people in this company.

A

Social needs

17
Q

e.g. I need an EXTENDED WARRANTY with a copier.

A

Psychological needs

18
Q

e.g. I need COMPREHENSIVE TRAINING on how to use a copier.

A

Knowledge Needs

19
Q

Employing Buyer Evaluation Procedures to Enhance Selling Strategies:

A

• Modify the Product Offering Being Proposed
• Alter the Buyer’s Beliefs about the Proposed Offering
• Alter the Buyer’s Beliefs about the Competitor’s Offering
• Alter the Importance Weights
• Call Attention to Neglected Attributes

20
Q

Multi-Attribute Model

A

P x I = Attribute Score

21
Q

P stands for

A

Assessment of Product or Supplier Performance

22
Q

l stands for

A

Assessing the Relative Importance of Each Characteristic

23
Q

Types of Purchasing Decisions:

A
  1. Straight Rebuy Buying Situation
  2. Modified Rebuy Buying Situation
  3. New Task Buying Situation
24
Q

Type of purchasing decision that is Routinized Response Behavior

A

Straight Rebuy Buying Situation

25
Q

Type of purchasing decision that is Limited Problem Solving

A

Modified Rebuy Buying Situation

26
Q

Type of purchasing decision that is Extensive Problem Solving

A

New Task Buying Situation

27
Q

Complex mix of business buyer needs

A

Functional attributes and Psychological attributes towards buyer’s level of satisfaction

28
Q

Complex mix business buyer needs that is a “must haves”

37% level of influence on buyer’s satisfaction

A

Functional attributes

29
Q

Complex mix business buyer needs that is a “delighters”

63% level of influence on buyers satisfaction

A

Psychological attributes

30
Q

The process by which the salesperson adjusts his/her communication style to fit that of the customers in order to facilitate effective communication

A

Communication Style Flexing

31
Q

Buying Center Members:

A
  1. Initiators
  2. Users
  3. Gatekeepers
  4. Influencers
  5. Deciders
  6. Purchasers
32
Q

Current Developments in Purchasing:

A

• Target Pricing
• Supply Chain Management
• Relationship Emphasis on Cooperation and Collaboration
• Increasing Use of Information Technology
• Increased Importance of Knowledge and Creativity

2nd Yr | 1st Sem | Salesmanship (5 decks)

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