Group 2 Flashcards
Is a critical component of marketing that focuses on interpersonal communication between buyers and sellers. It aims to initiate, develop, and enhance customer relationships.
Personal Selling
Involves creating, communicating, delivering, and exchanging offerings that provide value to customers, clients, partners, and society.
Marketing
It leads to increased loyalty and long-term business success.
Building Relationships
It help us provide tailored solutions, improving customer satisfaction.
Understanding Customer Needs
Salespeople can quickly adapt their strategies based on customer feedback and reactions, making the sales process more effective.
Adaptability
Essential for providing detailed explanations, demonstrations, and handling negotiations.
Personal Selling
Salespeople address concerns and answer questions in real-time.
Immediate Feedback
Personal selling is key to acquiring new customers and expanding relationships with existing ones, driving revenue growth.
Increasing Market and Customer Share
It complements other marketing activities, such as advertising and promotions, by reinforcing messaging through direct engagement.
Support for Other Marketing Efforts
This is when salespeople perform multiple functions, such as acquiring new customers, maintaining existing accounts, and providing sales support.
Combination Roles
Salespeople work as part of a team, combining different roles and expertise to enhance the overall sales effort.
Team Selling
What are the 4 key role of salespeople? (FCCC)
Financial Contributor
Change Agent
Communication Agent
Customer Value Agent
Refers to the deep understanding of customer needs and market trends.
Market Knowledge
The effective collaboration with internal teams to serve customers
Coordination
Maximizing value in every customer interaction.
Efficiency
Building reliable and honest relationships.
Trustworthiness
Facilitate quick customer decision-making and adoption of new products.
Promote innovation, improving quality of life and business operations.
Influence economic cycles positively by boosting market activity.
Change Agent
- Drive revenue by meeting sales quotas and financial targets
- Enhance profitability through efficient sales practices and productivity improvements.
Financial Contributor
- Act as the link between customers and the company.
- Provide valuable market insights and gather competitive intelligence.
- Ensure accurate, timely reporting to inform company strategy.
Communication Agent
Create and enhance customer value through knowledge and service.
Customer Value Agent
- Emphasizes long-term relationships rather than immediate sales.
- Involves locating prospects, making appointments, preparing presentations, completing sales, and post-sale follow-ups.
Trust-Based Relationship Selling
It aims for quick sales with a one-size-fits-all pitch, minimal customer feedback, and no emphasis on long-term relationships.
Transactional Selling
Builds trust through understanding customer needs, two-way communication, and adding value over time.
Trust-Based Selling
What are the 5 process in Trust Based Relationships Selling? (SSIDE)
Selling Foundation
Selling Strategy Based on Customer Needs and Value
Initiating Customer Relationships
Developing Customer Relationships
Enhancing Customer Relationships
What are the five key attributes for trust-building?
Customer Orientation
Competence/Expertise
Candor/Honesty
Compatibility
Dependability
Consistently fulfill promises and commitments.
Dependability
Always be truthful and transparent with customers.
Candor/Honesty
Be seen as a professional and easy to work with.
Compatibility
Be knowledgeable and skilled in your offerings.
Competence/Expertise
Uses a fixed, scripted approach for all customers; not flexible or customer-focused.
Stimulus Response Selling
Leads customers through stages (Attention, Interest, Desire, Action); assumes all buyers think alike.
Mental States Selling (AIDA)
Identifies and addresses specific customer needs; customer-focused and reduces resistance.
Need Satisfaction Selling
To know motivations, purchasing processes, and customer types.
Customer Understanding
Master product details and benefits. Stay updated on competitors and market trends.
Product and Market Knowledge
What are the 4 essential sales skills? (LQSS)
Listening
Questioning
Sales Presentation
Sales Dialogue
Critical for understanding buyer’s viewpoint and needs.
Listening
Use methodologies like SPIN and ADAPT to guide the conversation.
Questioning
Explain features, use aids, and demonstrate products.
Sales Presentation
Engage in purposeful conversations to build and enhance relationships.
Dialogue
What does ADAPT stands for?
Assess, Discover, Activate, Project, Transition
What are the 5 personal selling approaches? (SMNPC)
Stimulus Response Selling
Mental State Selling (AIDA)
Need Satisfaction Selling
Problem Solving Selling
Consultative Selling
Emphasis on ethics and cost control in sales practices. Balance revenue generation with efficient resource use.
Accountability
