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Professional Selling Final > Final Terms > Flashcards

Final Terms Flashcards

1
Q

Prospecting

A

The process of locating potential customers for a product or service

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2
Q

lead

A

A potential prospect a personal organization that may have the characteristics of a true prospect

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3
Q

Qualifying a customer

A

The process of determining whether a lead is in fact a prospect

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4
Q

House accounts

A

Accounts assigned to a sales executive rather than to the specific sales person responsible for the territory containing the account

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5
Q

Selling deeper

A

Selling more to existing customers

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6
Q

Endless chain

A

Prospecting method whereby a sales representative attempts to get at least one additional lead from each person he or she interviews

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7
Q

Referred lead

A

Name of a lead provided by either a customer or prospect of the salesperson

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8
Q

Center of influence

A

Prospecting method where in the salespersons cultivates well-known, influential people in the territory who are willing to supply lead information

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9
Q

Bounce back card

A

Card returned from a lead that request additional information

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10
Q

NAICS

A

Replaces the older standard industrial classification code. The groups industries into 20 Rod sectors as opposed to 10 sectors under SIC

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11
Q

Data mining

A

Sifting through very large amounts of data for useful information

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12
Q

Cold calling

A

Visiting a prospect without a prior appointment

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13
Q

Influential adversary

A

Individuals in the buyers organization. Great influence and are opposed to the salespersons product or service

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14
Q

Analysis paralysis

A

When I sales person prefers to spend practically all is her her time analyzing the situation and gathering information instead of making sales calls

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15
Q

Customer value proposition

A

A written statement clearly states purchasing your product or service and help and shareholder value

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16
Q

Impression management

A

The process whereby someone tries to influence the observations and opinions of others about something

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17
Q

Halo effect

A

The transfer of goodwill positive feelings about one person to another possibly unrelated characteristics

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18
Q

Small talk

A

Polite conversation about unimportant or uncontroversial matters especially as engaged in on social occasions

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19
Q

Referral

A

Referring someone or something for consultation review further action

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20
Q

Benefit

A

An advantage or profit gained from something

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21
Q

Advantage

A

A condition or circumstance that puts one in a favorable or superior position

22
Q

Feature

A

A distinctive attribute or aspect of something

23
Q

Rapport

A

A close and harmonious relationship in which the people or groups concerned understand each other’s feelings or ideas and communicate well

24
Q

Open questions

A

In a manner in which differences of opinion or possible

25
Q

Closed questions

A

Questions that have a single answer

Like yes or no

26
Q

Situation questions

A

General data gathering questions about background and current fact that are very broad in nature

27
Q

Problem questions

A

Questions about specific difficulties, problems, or dissatisfactions that the prospect has

28
Q

Implication questions

A

Questions that logically follow one or more problem questions in spin selling designed to help the prospect recognize the true ramifications of the problem

29
Q

Need payoff questions

A

Questions that I asked about the usefulness of solving the problem

30
Q

Demonstrations

A

Action or process of showing the existence or truth of something I getting proof or evidence

31
Q

Request for proposal

A

Statement issued by a potential buyer desiring bids from several potential vendors for a product

32
Q

Executive summary

A

Sometimes known as a management summary is a short document or section of the document produced for business purposes and summarizes a longer report proposal or a group of related reports in such a way that readers with a large body of material

33
Q

Objections

A

Concern or question raised by the buyer

34
Q

Forestalling objections

A

If the salesperson is aware of an objection that comes up repeatedly during a sales pitch or presentation the sales person may raise the injection himself and counter it with a pre-prepared argument

35
Q

Direct denial method

A

Direct denial is one of several common techniques used by salespeople when responding to certain types of by or concerns. This approach works well when responding to miss statements of fact. The point is to appease the concerns of the prospect to get him to buy

36
Q

Indirect denial method

A

Handling a buyer’s objection by initially admitting the validity of the objection in order to maintain report but then offering evidence to rebut the objection

37
Q

Compensation method

A

Salesperson will admit that such objections are valid and then proceed to show any compensating advantages

38
Q

Referral method

A

Sales person goes on to relate to others actually found their initial opinions to be unfounded after they try the product

39
Q

Revisit method

A

Also called the boomerang method of responding to objections, the sales person turns the objection into a reason for buying the product or service

40
Q

Acknowledgment method

A

Also called the pass a method simply let the buyer talk acknowledge that you heard the concern pause and then move on to another topic

41
Q

Postpone method

A

The salesperson would ask permission to answer the question at a later time

42
Q

Closing

A

Getting the buyer to commit to purchase

43
Q

Free on board

A

Is used to determine the point at which the buyer assumes responsibility for both the goods and the cost of shipping them

44
Q

Buying signals

A

Or indication that the buyer is ready to buy can be evidenced both in the buyers comments and nonverbally

45
Q

Direct request close

A

The most straightforward effective method of obtaining commitment is simply to ask for it

46
Q

Benefit summary close

A

The salesperson simply reminds the prospect of the agreed on benefits of the proposal

47
Q

Balance sheet close

A

AIDS prospects who cannot make a decision even though no reason for their behavior is apparent

48
Q

Alternate choice close

A

And many situation a sales person may have multiple options to present to a buyer

49
Q

Standing room only close

A

The seller attempts to obtain commitment by describing the negative consequences of waiting

50
Q

Post purchase dissonance

A

After important decisions customers may feel a little insecure about whether the sacrifice is worth it

Professional Selling Final (2 decks)

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