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SALESMANSHIP > Chapter 3: Understanding Buyers > Flashcards

Chapter 3: Understanding Buyers Flashcards

1
Q

Category of buyers that purchase for people (personal use)

A

Consumer Markets

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2
Q

Category of buyers that purchase in bulk and for business operations, these can be firms, institutions, governments, non-profit organizations

A

Business Markets

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3
Q

6 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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4
Q

Few but purchase in bulk

A

• Concentrated Demand

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5
Q

Derived from consumer markets
The higher the demand the higher the supply being produced

A

• Derived Demand

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6
Q

Minimal but bulk purchases

Fluctuates

A

• Higher Levels of Demand Fluctuation

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7
Q

Experts are needed

A

• Purchasing Professionals

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8
Q

Many people are involved

A

• Multiple Buying Influences

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9
Q

Direct interaction with the customer

A

• Close Buyer-Seller Relationships

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10
Q

A. Initiating the Relationship

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

B. Developing the Relationships

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

5 Types of Buyer Needs:

A

Situational Needs
Functional Needs
Social Needs
Psychological Needs
Knowledge Needs

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14
Q

I need a copier now because I have a major project I need to complete.

A

Situational Needs

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15
Q

I need a copier that sorts and staples.

A

Functional Needs

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16
Q

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

I need an extended warranty with a copier.

A

Psychological Needs

18
Q

I need comprehensive training on how to use a copier.

A

Knowledge Needs

19
Q

37%
Must Have
Taken for granted

A

Functional

20
Q

67%
Delighters
Augmented Features

A

Psychological

21
Q

Higher form of customer satisfaction

A

Customer delight

22
Q

Five levels of product (Phlip Kotler)

A
  1. Core Benefit
  2. Generic Product
  3. Expected Product
  4. Augmented Product
  5. Potential Product
23
Q
  1. Core Benefit
  2. Generic Product
  3. Expected Product
A

Functional Attributes

24
Q
  1. Augmented Product
  2. Potential Product
A

Psychological Attributes

25
Q

Use for evaluating suppliers

A

Multi-Attribute Suppliers

26
Q

3 Types of Purchasing Decisions:

A
  1. Straight Rebuy Buying Situation—Routinized Response Behavior
  2. Modified Rebuy Buying Situation—Limited Problem Solving
  3. New Task Buying Situation—Extensive Problem Solving
27
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

28
Q

High Responsiveness
Low Assertiveness
Slow paced
Relationship Oriented

A

Amiable

29
Q

Low Responsiveness
High Assertiveness
Fast Paced
Task Oriented

A

Driver

30
Q

High Responsiveness
High Assertiveness
Relationship Oriented
Fast Paced

A

Expressive

31
Q

Buying Center Members:

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

Identifies the problem

A

Initiators

33
Q

Final consumers

A

Users

34
Q

Control information or access
Both initiators and users

A

Gatekeepers

35
Q

Encourage others

A

Influencer

36
Q

Determines what/where/why/how to buy

A

Deciders

37
Q

Handles the paperwork/ but not the owner of the item

A

Purchasers

38
Q

Two Factory way model

A

Functional and Psychological attributes

39
Q

Additional feature that is different from other competitor

A

Augmented Product

SALESMANSHIP (4 decks)

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