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Selling Strategically > Exam 2 > Flashcards

Exam 2 Flashcards

1
Q

advertising designed to reach all users of the product, whether consumers or industrial buyers.

A

national advertising

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2
Q

used by a retailer to reach customers within its geographic trading area

A

retail advertising

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3
Q

advertising the retailer conducts with the cost paid for by the manufacturer or shared by the manufacturer and retailer

A

co-op advertising

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4
Q

undertaken by the manufacturer and directed toward the wholesaler or retailer.

A

trade advertising

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5
Q

aimed at individuals and organizations that purchase products used in manufacturing other products

A

industrial advertising

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6
Q

mailed directly to the consumer or industrial user; it is an effective method of exposing these users to a product or it reminds them that the product is available to meet a specific need

A

direct-mail advertising

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7
Q

includes free samples, coupons, contests, and demonstrations to consumers

A

consumer sales promotion

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8
Q

encourages resellers to purchase and aggressively sell a manufacturer’s products by offering incentives like sales contests, displays, special purchase prices, and free merchandise (for example, buy 10 cases of a product and get 1 case free).

A

trade sales promotion

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9
Q

allow a product to be seen easily and purchased.

A

point-of-purchase displays

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10
Q

refers to the physical placement of the product within the retailer’s store.

A

shelf positioning

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11
Q

the number of individual products placed beside each other on the shelf.

A

shelf facings

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12
Q

an article of merchandise offered as an incentive to the user to take some action

A

premium

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13
Q

allows salespeople to view and manipulate customer and/or prospect information on an electronic map.

A

geographic information system

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14
Q

can abbreviate the time it takes to accomplish this task to no more than a minute or two, the time it takes to execute a few keystrokes.

A

word processing system

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15
Q

the standard price charged to customers

A

list price

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16
Q

the price after allowance for all discounts

A

net price

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17
Q

the price based on geographic location or zone of customers

A

zone price

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18
Q

means the buyer pays transporta-
tion charges on the goods—the title to goods passes to the customer when they
are loaded on shipping vehicles.

A

FOB shipping point

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19
Q

the seller pays all shipping costs

A

FOB destination

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20
Q

One-time reduction in price

A

noncumulative quantity discounts

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21
Q

discounts the customer receives for buying a certain amount of a product over a stated period, such as one year

A

cumulative quantity discounts

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22
Q

are earned by buyers who pay bills within a stated period

A

cash discounts

23
Q

he manufacturer may reduce prices to channel members (middlemen) to compensate them for the services they perform.

A

trade discounts

24
Q

the dollar amount added to the product cost to determine its selling price.

A

markup

25
Q

the money available to cover the costs of marketing the product, operating the business, and profit.

A

gross profit

26
Q

the money remaining after the costs of marketing and operating the business are paid.

A

net profit

27
Q

illustrates how all leads and prospects are considered and filtered out as they are subjected to the three mad questions

A

sales prospecting funnel

28
Q

all salespeople lose X percent of sales or customers per year, this is known as…

A

leaking bucket customer concept

29
Q

based of the law of averages

A

cold canvass prospecting methods

30
Q

when a customer refers the salesperson to someone she knows

A

endless chain referral method

31
Q

a person or organization recommended to you by someone who feels that this person or organization could benefit from you or your product

A

referral

32
Q

customers whose salesperson has left the company

A

orphaned customers

33
Q

involves finding and cultivating people in a community or territory who are willing to cooperate in helping to find prospects

A

center of influence method

34
Q

to contact a large number of prospects across a vast area is far less costly than use of a canvassing sales force, though usually more costly than mailouts.5

A

telephone prospecting

35
Q

is a marketing com- munication system using telecommunication technology and trained personnel to conduct planned, measurable marketing activities directed at targeted groups of consumers.

A

telemarketing

36
Q

A salesperson often can find prospects by constantly watching what is happening in the sales area

A

observation method

37
Q

group of names gathered from various sources

A

prospect pool

38
Q

people and organizations you know nothing or very little about

A

leads

39
Q

people or organizations you frequently know very little about other what you learned from the referral

A

referrals

40
Q

provides guidelines for a salesperson to ask for referrals in four commonly faced situations,

A

referral cycle

41
Q

Salespeople must sell the product, plus sell the prospect on providing referrals.

A

parallel referral sale

42
Q

not wanting to contact a prospect or customer

A

call reluctance

43
Q

a method of achieving an end

A

a plan

44
Q

refers to programs, goals, and problems of great importance to customers

A

strategy

45
Q

refers to planning the sales call on a customer or prospect

A

preapproach

46
Q

4 components of sales call planning

A

determining the sales call objective; (2) developing or reviewing the customer profile; (3) developing a customer benefit plan; and (4) developing the individual sales presentation based on the sales call objective, customer profile, and customer benefit plan.

47
Q

contains the nucleus of the information used in your sales presentation; thus it should be developed to the best of your ability.

A

customer benefit plan

48
Q

prospects enter this stage if they listen and enter into a discussion with you

A

interset

49
Q

Using the FAB formula (Chapter 3), strive to bring prospects from lukewarm interest to a boiling what

A

desire

50
Q

in this step strive to develop a strong belief that the product is best suited to prospects’ specific needs.

A

conviction

51
Q

Once the prospect is convinced, plan the most appropriate method of asking the prospect to make a blank

A

purchase

52
Q

devoted to a discussion of the buyer’s needs

A

need-development

53
Q

the salesperson begins to take control of the conversation by restating the prospect’s needs to clarify the situation

A

need awareness

54
Q

salesperson shows how the product will satisfy mutual needs

A

need fulfillment

Selling Strategically (3 decks)

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