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College > Marketing Final > Flashcards

Marketing Final Flashcards

1
Q

Today’s buyer

A

better informed, have higher expectations, and demand than ever before

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2
Q

Win-Win Selling

A

Stay side by side to ensure satisfaction

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3
Q

Buyer’s expectations

A

Salesperson is knowledgeable, up to date, and able to answer questions

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4
Q

Product and People Knowledge: Which is the front and back tire

A

Product knowledge= Back tire: Need back tire to move/ need to know about our product
People knowledge: Front tire steers the conversation

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5
Q

4 Stages of Skill Learning

A
  1. Unconcious incompetence
  2. Conscious incompentence
  3. Conscious competence
  4. Unconcious competence
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6
Q

Unconcious incompetency

A

No knowledge of skill area, but we don’t know of skill of knowledge

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7
Q

Concious incompetency

A

Making person aware that they are missing a skill (Awareness Building)

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8
Q

Consciously competent

A

Know you have a skill but it isn’t mastered (Skill Building)

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9
Q

Unconciously competent

A

Do what works and know why it works (New Habit)

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10
Q

Salesperson’s job

A

Not to sell the products, but to help the prospect buy

Counselor that helps through process

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11
Q

Two types of problems

A

Task

relationship

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12
Q

Definition of Win Win

A

Establishes Trust
Uncovers Problem
Help Solve problem
Offer Support

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13
Q

4 Categories of Rejection

A

No Trust
No Need
No Help
No Satisfaction

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14
Q

When you’re buying a product, what are you buying?

A

A solution

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15
Q

Why is there no trust between sales people?

A

No trust= no action on task/ time

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16
Q

Time Tension Model

A 
Tension=Y
Time=X
Task Tension=Positive Slope
Relationship Tension=Negative Slope
Innefective communication= Left Butterfly
Purposeful communication=Right Butterfly
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17
Q

Why consumer have no trust

A

Haven’t met you before
Used to dealing with someone else
I know what your kind is like (Stereotype)

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18
Q

High relationship tension Ex

A

Reluctance to talk
Minimal info
Wants to move past this tension

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19
Q

Impact percentages

A

55% Visual
38% Vocal
7% other

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20
Q

Low relationship tension Ex

A 
Talks freely
Elaborates Answers
Volunteers information 
Good Eye Contact
Body Faces You
Open Arm and Hand Movements
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21
Q

Ways to Communicate Empathy

A
  1. Ask Questions

2. Listening

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22
Q

Ben Duffy

A

Put himself in the role of the prospect

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23
Q

4 Credibility expansions

A
  1. Properiety
  2. Competency
  3. Commonality
  4. Intent
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24
Q

Propriety

A

Matching Expectations owith Customer
Behaving appropriately for customers business
Calibrating your behavior to their expectations

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25
Q

Competency

A

Back Wheel: Technical expertise, knowledge of our product or service

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26
Q

Demonstrating Competency

A

Describe our problem solving ability
Showing understanding of buyer’s situation
Inviting further discussion

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27
Q

What she would include well Telling

A

Our Company
Our Products
Ourselves

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28
Q

Commonality

A

Prospect’s perception of how similar salesperson is.
Indicate your sincere interest
Ask prospect about their ideas/ opinions on the subjeect

29
Q

Intent

A

My Role
Helping you solve your problems
Learning all I can about your unique situation

30
Q

Positive recognition

A

People hungry for some got dam compliments

31
Q

Discovery

A

Prospects know their problems but don’t always know their needs

32
Q

4 Personal Needs

A

Power
Respect
Approval
Recognition

33
Q

Power

A

Results orientated

34
Q

Recognition

A

Risk Takers

35
Q

Approval

A

Proven and popular

36
Q

Respect

A

Expert

Need to be right

37
Q

What is problem analysis

A

Problem-Difference between what you have and what you want

38
Q

2 types of questioning

A
  1. Fact finding questions

2. Feeling-Finding questions

39
Q

One objective of discovery

A

To create task tension

40
Q

3 ways to listen

A
  1. Selectively-Taking in what is relevant to your problem
  2. Responsively-Verbal “Yeah”
  3. Empathetically- saying what they feel
41
Q

Discovery agreement

A

Summarizes what buyer has and what buyer wants
Confirms we know the GAP

Review Present Situation
Objectives
Obstacles

42
Q

No Help Reasons

A
  • Proposing Wrong Solution
  • Solution may be good, but prospect doesn’t clearly understand how will it help
  • Prospect has another and “better” solution
  • Proposals aren’t responding to prospect’s real buying motives
  • They have to understand why your solution is the right match for their problem
43
Q

Advocating Strategies

A
  • Clear statement of how our product works
  • How it solves problem
  • How it benefits problem
44
Q

4 advocating strategy factors

A
  • People
  • Buying Criteria
  • Decision-Making
  • External Conditions
45
Q

What two key issues does task agenda revolve around

A

How can we justify purchase

  • Operationally
  • Financially
46
Q

Operational Justifications

3 basic questions

A
  • How our solution will do job?
  • Is it best for prospect’s situation?
  • Will it be best in future?
47
Q

Financial Justification

A
  • Pay for itself
  • Return on Investment
  • Price vs cost
48
Q

Benefit Path

A

-Begin Presentation with review of Discovery Agreement

49
Q

3 elements we need in presentation

A
  1. Solution-What we are presenting (idea, product, service)
  2. Advantage- illustration or demonstration of the way solution goes about attacking cause & solving problem
  3. Benefit- Feeling prospect has when need has been satisfied
50
Q

Benefit (Gain/ Maintain)

A

Gain-Feeling front winning

Maintain-avoid falling back

51
Q

Illustrating/ visualizing

A

People respond better to pictures than words

52
Q

The Power of Words

A
  1. Present Story in Prospect’s Language
  2. Going too fast or trying to cover too much- frusturating
  3. Show rather than tell
53
Q

Thirds Party Story

A

Someone similar had a good solution

54
Q

Assumptive Close

A 
Minimize Negatives
Maximize Positives
Balance Sheet
Cost analysis
Options
Next Step
55
Q

Wrapping it all up

A

Ask for questions or concerns

56
Q

2 Ways prsospects behave defensively to reduce their tension

A

Fight/ Flight

57
Q

Things that can lead to no satisfaction/ factors

A

Bigger Buying Decision
More People Affected
Less likely decision will be easy

58
Q

2 jobs on fight or flight

A

Manage our own tensions

Help prospect understand and deal with theis

59
Q

Zone of Indifference

A

Between Satisfaction and dissatisfaction

Need TLC

60
Q

Tension Revisited

A

We’ll be there for them for their benefited

Increased tension due to fear of being sold

61
Q

What do they want from us?

A

Genuine
Warm, accepting regard for client
Understanding of client’s feeling

62
Q

LSCPA

A 
Listen
Share (We Understand)
Clarify
Problem Solve (Hidden Agenda)
Ask for Action
63
Q

Clarify

A

What’s the actual issue

Remaining steps of presenting and asking for action fall into place

64
Q

3 Methods of clarifying

A
  1. Suggest- “Another way to look at this”
  2. Convert- restate what you think question is
  3. 3rd party- Neutralize problem/ objection by taking it out of conflict and relating to a similar situation
65
Q

Final Assurances (4)

A

Testimonials
Statistics of success
Warranty, guarantee, contract
Free trial period

66
Q

Ask for Action

A

Assumptive Close Techniques
Confirm Issue
Set Deadline

67
Q

What does supporting eliminate?

A

No Satisfaction

68
Q

Behaving defensively causes

A

Fight or flight

69
Q

When does tension increase

A

When we feel like we’re being sold

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