Module 2 Flashcards

1
Q

The buying process that companies lead customers through when purchasing products.

A

Sales Funnel

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2
Q

Sales made to individual consumers rather than to other businesses.

A

Business-to-Consumer (B2C)

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3
Q

A way of bringing products or services to market so they can be purchased by consumers.

A

Sales Channels

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4
Q

A salesperson who provides information to an individual who will influence the purchase decision.

A

Missionary

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5
Q

A salesperson who calls on retailers and helps them display, advertise, and sell products to consumers.

A

Trade

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6
Q

A salesperson whose primary function is to find prospects, or potential customers.

A

Prospector

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7
Q

Sales people who are experts in a specific product or service area. They promote and sell the product by demonstrating how it works along with the benefits it can offer potential customers.

A

Technical

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8
Q

Bring in revenue without active sales engagement

A

Passive

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9
Q

Have consistent transactions and engagement with the business

A

Active

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10
Q

Clients who have not made a purchase for a specified period of time

A

Inactive

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11
Q

The rule of 80/20. Finds that 80% of the results stem from 20% of the causes. In sales, 80% of a company’s revenue come from 20% of its customers.

A

Pareto Principle

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12
Q

The process of distinguishing a portfolio of accounts (customers) based on a set of criteria of strategic importance to the company’s long-term success.

A

Key Account Management (KAM)

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13
Q

Refers to top of the funnel, which is the beginning of the various steps that lead to a sale.

A

TOFU

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14
Q

How products make their way to buyers in B2B and B2C sales.

A

Distribution Channel

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15
Q

The salesperson meets the buyer and introduces the company.

A

Approaching

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16
Q

Searching for potential customers and deciding whether they have the ability and desire to make a purchase

A

Prospecting/Qualifying

17
Q

Explaining how the product meets customer’s needs

A

Presenting/Demonstrating

18
Q

Answering customer questions and concerns

A

Handling Objections

19
Q

Agreeing on the terms of the sale and finalizing the transaction

A

Closing the Sale

20
Q

Ensuring the customer is satisfied with the product or service that was delivered

A

Following Up

21
Q

Personal attributes that enable someone to interact effectively and harmoniously with other people. Also known as soft skills.

A

Power Skills.

22
Q

The ability to understand and share the feelings of another.

23
Q

A set of ideas and ways to reduce sources of conflict.

A

Conflict Resolution

24
Q

An approach where a leader or manager only makes important business decisions with solid data or information in hand.

A

Analytical Decision-Making

25
The producer sells a product to a consumer directly.
Direct
26
Companies that sell goods in large quantities at low prices, typically to retailers.
Distributor, Wholesaler, Agent, or Broker
27
Listening with the intent of understanding instead of replying.
Responsive Listening