Exam 1 Flashcards
the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large
Marketing
4 Ps of Marketing
Product, place, price, and promotion
What are the essentials of a firm’s marketing effort
- determine the needs of its customers
2. create and maintain an effective marketing mix that satisfies customer needs
What is critical to selling
examine the customers needs, provide information and solutions to meet the customers needs, provide after the sale service to
What is professional selling
Refers to the personal communication of information, to unselfishly assist someone
2 primary duties of professional selling
- unselfishly serve the buyer or buying organization
2. professionally represent the selling organization
Skills used in sales
Communication, personal interactions, problem solving, persuasion
Sales is the first job chosen by how many of all business majors
60%
Sales is the first job chosen by how many of all marketing majors
88%
Workers across a range of occupations suggest that (how much) of their time is devoted to sales like activities
41%
Refers to making a contribution to the welfare of others
Service
Type of Sale: For resale, for use in producing other goods, for use within an organization
Selling for a Wholesaler
Type of Sale: Working for the firm who manufactures the product, usually one of the most prestigious jobs to hold
Selling for a manufacturer
Type of Sale: sells goods or services to consumers for their personal, non-business use
Retail Selling
Type of Sale: face to face sales to consumers, typically in their homes, who use the products for their non-business personal use
Direct Selling
Order takers
salesperson does exactly what customer tells them to do; may not use a sales presentation
Order Getters
use creative sales strategies to better understand customer needs; creates value by helping provide solutions
philosophy of unselfishly treating others as you would like to be treated
Golden Rule of Personal Selling
the most difficult trait for a salesperson to develop
self-control
the cognitive ability to see the selling process as a whole and the relationship among its parts
conceptual skill
common denominator of a successful salesperson
unselfish and sacrificing for prospects
Preconventional
what can i get away with
conventional
what am i legally required to do
principled
what is the right thing to do
leading influences on american ethics are
movies, TV, the internet, books, music, public policy, law, and family
a point of reference
is fixed, is separate from you, no one else may influence
code of moral principles and values that govern the behaviors of a person or a group with respect to what is right or wrong
ethics
ethical dilemmas may involve these three people:
salespeople, employer, customers
factors influencing the buying process
individual, social, organizations climate
taking a second job while still working for your primary one
moonlighting
When a customer relies on a salesperson’s statements, purchases the product or service, and then finds that it fails to perform as promised, the supplier can be sued
misrepresentation and breach of warranty
The act allows sellers to grant what are called quantity discounts to larger buyers based on savings in manufacturing costs.
Robinson-Patman Act of 1936
To buy a particular line of merchandise, a buyer may be required to buy other, unwanted products.
tie-in sale and is prohibited under the Clayton Act
the buyer may cancel the contract, return any merchandise, and obtain a full refund.
cooling off laws
official given the responsibility of corporate conscience who hears and investi- gates ethics complaints and informs top management of potential ethics issues
ethics ombudsperson
buyer’s need to purchase the most satisfying product for the money
economic needs
A direct, detail-oriented person. Likes to deal in sequence on his/her time. Very precise, sometimes seen as a nitpicker. Fact oriented.
thinker
Effective communicator, deliberative, prudent, weighs alternatives, stabilizing, objective, rational, analytical, asks questions for more facts.
thinker
Verbose, indecisive, overcautious,
overanalyzes, unemotional, nondynamic, controlled
and controlling, overserious, rigid, nitpicking.
thinker
A knowledgeable, future-oriented person.
An innovator who likes
to abstract principles from a mass of material. Active in community affairs by assisting in policy making, program development, etc
intuitor
Original, imaginative, creative, broad-gauged, charismatic, idealist, intellectual, tenacious, ideological, conceptual, involved.
intuitor
Unrealistic, far-out, fantasy-bound, scattered, devious, out-of-touch, dogmatic, impractical, poor listener.
intuitor
People oriented. Very sensitive to people’s needs. An emotional person rooted in the past. Enjoys contact with people. Able to read people very well.People oriented. Very sensitive to people’s needs. An emotional person rooted in the past. Enjoys contact with people. Able to read people very well.
feeler
Spontaneous, persuasive, empathetic, grasps traditional values, probing, introspective, draws out feelings of others, loyal, actions based on what has worked in the past.
feeler
Impulsive, manipulative, overpersonalizes, sentimental, postponing, guilt-ridden, stirs up conflict, subjective.
feeler
Action-oriented person. Deals with the world through his/her senses. Very decisive and has a high energy level.
senser
Pragmatic, assertive, directional results oriented, technically skillful, objective— bases opinions on what he/she actually sees, perfection seeking, decisive, direct and down to earth, action oriented.
senser
Impatient, doesn’t see long range, status- seeking, self-involved, acts first then thinks, lacks trust in others, nitpicking, impulsive, does not delegate to others.
senser
