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Personal Selling > Exam 1 > Flashcards

Exam 1 Flashcards

1
Q

Evolution of Sales

A

Technology, the rise of the digital age, and the changes of marketing all played a role in the evolution of sales.

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1
Q

Personal selling

A

Occurs when a company representative interacts directly with a customer or prospective customer to present information about a product or service.

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2
Q

B2B (Business to Business)

A

Businesses are created that solely sell for other businesses to function.

A Manufacturer sells to an Industrial Salesperson that then sells to an Industrial Customer.
A Manufacturer will have a Trade Salesperson that will work with a Distributor, the Distributor then has a Distributor Salesperson represent a brand to the Industrial Customer.
A Missionary Salesperson will nurture a relationship with the Industrial Customer.

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3
Q

B2C (Business to Consumer)

A

Consumers take products that are made for them.

Manufacturers have a Direct Salesperson that sells to the Consumer.
A Manufacturer will have a Trade Salesperson that works with Retailers, who then have their Retail Salesperson that then sells to the Consumer.

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4
Q

Service Channel

A

A service provider has a sales person that sells to a consumer.

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5
Q

Business Goods Channel

A

Businesses are created solely for another business to function.

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6
Q

Consumer Good Channel

A

Products made for the consumption of consumers.

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7
Q

Inside Sales

A

Inside salespeople are those who perform selling activities at the employer’s location.

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8
Q

Outside Sales

A

Outside salespeople travel to meet prospects and customers in their places of business or residence.

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9
Q

Inside vs. Outside Sales

A

Both Inside and Outside salespeople often work closely together to nurture clients and prospects.

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10
Q

Evolution of Marketing – Decade by Decade

A

Strategic Selling Era (Early 1980’s)

Partnering Era (1990 to 2000)

Early Digital Marketing Era (Early 2000 to 2010)

Digital Selling Era (2010 to present)

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11
Q

The Marketing Mix and the Four P’s of Marketing

A

Understanding the needs and wants of the marketplace and delivering upon it; Product, Price, Place, and Promotion.

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12
Q

Frito Lay Example

A

Frito Lay; ‘Fun Food’. Parent company: Pepsi. Located: Plano, Texas, $6 Billion brands.

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13
Q

Ferrari Example

A

Ferrari; Luxury Sports Car Manufacturer. Located: Maranello, Italy. History of Racing. Capped Production. Luxury desirable goods at various price points.

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14
Q

Consultative Selling

A

Mass markets break into target markets. Emphasis on need identification. Information sharing and negotiation replace manipulation.

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15
Q

Transactional Selling

A

Process that serves the buyer primarily interested in price and convenience.

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16
Q

Strategy

A

Carefully conceived plan needed to accomplish sales objectives. A prerequisite to tactical success.

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17
Q

Tactics

A

Specific technique, practices, and methods used in customer interaction.

18
Q

Partnering

A

Get an initial sale, and then exceed expectations to create a long term customer, whose business grows with you.

19
Q

Strategic Alliances

A

Often the most challenging. Build relationships with several people.

20
Q

Business ethics

A

Is comprisesed of principles and standards that guide behavior in the world of business.

21
Q

Additional policy areas

A

Distributor relations, Customer service, Pricing. Product Development.

22
Q

Personal values

A

Values; Ultimate reasons people act as they do. Foundation for attitudes and behavior.

Development And refinement of values; Life long process.

Customers have a negative view of salespeople who lack integrity.

23
Q

Laws, Contracts, Agreements

A

Role model provided by top management.

Company policies and practices.

Role model provided by sales manager.

Personal values of salesperson

Ethical conduct of salespeople.

24
Q

3 Traits of a salesperson that create value

A

Honesty, Accountability, sincere concern for customer welfare.

25
Q

4 things that enhance your relationship strategy

A

Self-concept.
Win-Win philosophy.
Empathy and ego drive.
Character and integrity.

26
Q

Win-Win vs. Win-Lose

A

Customer satisfaction primary.

Adopting a win-win step in the development of a relationship strategy.

Buyer and seller come out of the sale with respective best interests served.

27
Q

Empathy

A

Ability to understand what a person is feeling.

28
Q

Ego Drive

A

An inner force that makes the salesperson need to make the sale.

29
Q

Empathy and Ego Drive

A

They reinforce each other.

30
Q

Verbal vs. Nonverbal communication

A

Verbal communication is only 10% of the message, non-verbal makes up the other 90%.

31
Q

Character

A

Character is composed of personal standards, including honesty, integrity, and moral strength.

32
Q

Integrity

A

Integrity is the basic ingredient of character that is exhibited when you achieve congruence between what you know, what you say, and what you do.

33
Q

Communication Style

A

Is the pattern of behavior that others observe.

34
Q

Adaptive Selling

A

Can be defined as altering sales behaviors in order to improve communication with the customer.

35
Q

5 Communication Style Principles

A

Individual differences exist and are important.

A communication style is a way of thinking and behaving.

Individual style differences tend to be stable over time.

There are a finite number of styles.

Being in sync with those you work with helps to create the most productive relationship.

36
Q

Communication Style Model – Dominace continuum

A

Dominance is the tendency to control or prevail over others.

37
Q

Communication Style Model – Sociability continuum

A

Sociability reflects the amount of control we exert over our emotional expressiveness.

38
Q

Emotive Style – traits, examples, strengths, weaknesses

A

Most outgoing and dominant.

39
Q

Directive Style - traits, examples, strengths, weaknesses

A

High in dominance, low on sociability.

40
Q

Reflective - traits, examples, strengths, weaknesses

A

Lower in dominance, and lower is sociability.

41
Q

Supportive - traits, examples, strengths, weaknesses

A

Lower in dominance, but higher in sociability.

42
Q

How to sell to 4 communication styles

A

Emotive Customers; Be enthusiastic and treat them better than how’d you treat a good friend.

Directive Customers; Be professional and make sure to be efficient.

Reflective Customers; Be on a time and prepared, but also be patient and don’t rush the customer.

Supportive Customers; Build a social relationship by learning about the customer, and be patient and friendly.

Personal Selling (1 decks)

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