Midterm Flashcards
Define the concept of personal selling.
Personal selling is the process of interacting with potential customers, either face-to-face or through other communication channels, to persuade them to purchase a product or service.
Differentiate between the selling and marketing concepts.
Selling is focused on the product or service being sold, while marketing is focused on the needs and wants of the customer.
Difference between relationship selling and traditional selling.
Relationship selling focuses on building long-term relationships with customers, while traditional selling is more transactional and focused on closing individual sales.
State the significance of personal selling.
Personal selling is significant because it allows for customized and personalized interactions with customers, which can lead to higher sales and customer loyalty.
State the advantages of personal selling
Advantages of personal selling include the ability to customize messages to individual customers, build relationships with customers, and gather feedback.
State the disadvantages of personal selling
Disadvantages include high costs and the potential for inconsistency in sales messages.
Describe the types of personal selling.
Types of personal selling include inside sales, outside sales, telemarketing, and online selling.
Describe the standard steps in the selling process.
Standard steps in the selling process include prospecting and qualifying, pre-approach, approach, presentation, handling objections, closing, and follow-up.
Explain how leads are generated.
Leads can be generated through various methods, such as referrals, advertising, trade shows, and cold calling.
State the four types of sales presentations.
canned presentation,
consultative presentation,
needs-satisfaction presentation
problem-solving presentation.
Describe the functions of sales management.
The functions of sales management include setting sales goals and objectives, developing sales strategies, managing the sales force, and evaluating sales performance.
Compare the principal methods by which the optimum size and structure of a sales force can be derived.
Methods for determining the optimal size and structure of a sales force include the workload method, the incremental method, and the subjective method.
Describe the three basic compensation methods for salespersons.
The three basic compensation methods for salespeople are salary, commission, and a combination of the two.
Calculate compensation based on commission and combination method.
To calculate compensation based on commission or combination method, salespeople are typically paid a percentage of the sales they generate.
Calculate the size of a sales force using the workload method.
To calculate the size of a sales force using the workload method, the total workload is divided by the amount of work one salesperson can handle.
