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Marketing An Introduction > Personal Selling > Flashcards

Personal Selling Flashcards

1
Q

Salesperson (6 activities)

A

An individual who represents a company to customers by performing 1 or more activities: (6)
prospecting
communicating
selling
servicing
info gathering
relationship building

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2
Q

Roles of salesforce 4

A
  • Link company with customers
  • Represent company to customers
  • Represent customers to company
  • Coordinate marketing with sales
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3
Q

Represent company to customers role
3 main + 7

A
  • find and develop new customers
  • comm. info about company’s products and services
  • sell by
  • engage customer + learn their needs
  • present solutions
  • answer objections
  • negotiate price and terms
  • close sales
  • service accounts
  • maintain accounts relationship
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4
Q

represent customer to company

A
  • serve customers’ interest (work with others to increase customer value)
  • manage buyer-seller relationship
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5
Q

Sales force Management activities (APIC)

A

Analyze + Plan + Implement + Control

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6
Q

sales force major steps
6

A
  1. Design SF strategy and structure
  2. recruit and select
  3. train
  4. compensate
  5. supervise
  6. evaluate
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7
Q

Territorial sales force structure

A
  • suitable for 1 product line to 1 industry with customers in many locations
  • assigned an exclusive geo. territory - sell the product in full-line
  • define each SP Job and responsibility
  • small travel expense
  • increase SP’s desire to build local customer relationship
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8
Q

Product SF structure

A
  • Suitable: numerous, complex products
  • SF specializes in selling only a portion of company product of lines
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9
Q

Customer (market) SF structure

A
  • Sp specializes in selling only to certain customers or industries
  • seperate sales force for different industries
    -> help build closer relationship with important customers
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10
Q

Complex SF structure

A
  • wide variety of products to many types of customers over a broad geo. area
  • combines several types of organizations
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11
Q

Workload approach to set SF sale

A
  • group accounts into different classes according to classes/account status..
  • determine no. of SP needed to call on each class of accounts + desired number of time
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12
Q

Outside OR Field SF

A

SP who travel to call on customers in the field

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13
Q

Inside SF

A

conduct business from their offices via telephone, online and SM interactions, or visits from prospective buyers

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14
Q

Team selling

A

Use teams of people from different departments to service large, complex account

> < competitive individual, hard to evaluate individual

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15
Q

4 key talents of salesperson

A
  • intrinsic motivation (drive to excel + strong sense of purpose)
  • disciplined work style
  • ability to close a sale
  • relationship builders
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16
Q

3 things to train salespeople

A
  • Types of customers (needs, behaviors, habits) and how to build relationship with them
  • how to sell
  • know and identify with company, products and competitors
17
Q

4 elements of compensation

A
  • fixed amount
  • variable ammount (commission, bonus)
  • expenses
  • fringe benefit
18
Q

Goal of supervising SF

A

Help people work smart by doing the right thing in the right way

19
Q

Goal of motivating SF

A

encourage ppl to work hard towards goals

20
Q

ways to supervise 3

A
  • call plan
  • time-and-duty analysis
  • sales force automation system
21
Q

Sales quota

A
  • ways to motivate
  • a standard that states the amount a salesperson should sell and how sells should be divided among the products
22
Q

Social selling 3

A
  • use online, mobile, SM to engage customers, build stronger customer relationships and boost sales performance
  • need to solve problems and give solutions
  • powerful tools in personal selling
23
Q

Selling process

A

Steps that SP follow when selling
with 7 steps

24
Q

7 steps of selling process

A
  1. prospect and qualify
  2. preapproach
  3. approach
  4. presentation and demonstration
  5. handle objections
  6. close sales
  7. follow-up
25
Q

Prospect

A
  • identify qualified potential customer (appreciate and respond to value proposition)
26
Q

Source to find potential customers

A
  • company’s leads
  • referal (best source)
  • from current customers
  • cultivate from suppliers/dealers/noncompeting SP/online, SM contact
  • cold calling
27
Q

Qualify leads (5 factors)

A

identify good and bad leads based on
* financial ability
* volume of business
* special needs
* location
* posibilities for growth

28
Q

Preapproach (5 things)

A
  • learn about prospective customers before making a sales call (characterisitcs, buying styles)
  • set call objectives
  • determine best approach (personal visit, email, etc)
  • ideal timing
  • sales strategy
29
Q

Approach (def. and 3 things)

A

Meet the customer for the first time
- salesperson’s appearance
- opening lines: positive to build goodwill + key questions/sample
- follow-up remarks

30
Q

Presentation (Sales)

A

Tell the “value story” to the buyer, showing how the company’s offer solves the customer’s problems

31
Q

Handle objections (4)

A
  • Positive approach
  • seek out hidden objections
  • ask buyer to clarify objections
  • take objections as opportunities to provide more info
    => turn objections into reason to buy
32
Q

Close the sale (def. + 3 signals)

A

ask the customer for an order
- recognize closing signals from buyers (physical actions, comments and questions)

33
Q

Closing techniques (5)

A
  • ask for order
  • review points of agreements
  • offer to help write up the order
  • ask whether the buyer wants this or that model
  • note that buyer will lose out if order is not placed now
34
Q

Follow-up

A

follow up after the sales to ensure customer satisfaction and repeat business

35
Q

Value selling

A

demonstrate and deliver superior customer value and capture a reurn on that value that is fair

= listen and understand needs and coordinate the whole company’s efforts to create lasting relationship based on customer value

Marketing An Introduction (10 decks)

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