Personal Selling and Sales Management Flashcards
personal selling
when a company rep interacts directly with a prospective customer to communicate about a good or service
The “personal touch” is more effective than mass media appeal when it comes to ____ products and services
complex, like industrial goods and services
“New business development” is another term for
personal selling
Personal selling is important when
a firm uses a push strategy
in B2B contexts
with inexperienced consumers who need hands-on assistance
for durable products or products bought infrequently, like cars or houses
Cost per contact in personal selling is very high because
commission and sales are expensive
outside salespeople
go to the customer
order getter, also manages long-term relationships
inside salespeople
orders come to you inside, phone calls
business is generated by marketing
order taker who processes transaction
new business vs. maintenance
outside and inside
new business finds new customers and makes calls
transactional selling
the hard sell
get the sale today
high-pressure process that focuses on making an immediate sale with no concern for a long term relationship
relationship selling
long term
building long-term customers by developing mutually satisfying, win-win relationships
CREATIVE SELLING PROCESS
generate and qualify leads preapproach sales presentation and overcoming reservations closing the sale follow-up
generating leads/prospecting
develop a list of qualified sales leads
referrals, cold-calling, trade shows
preapproach
learning about a client beforehand
presentation
try to present to decision maker
overcome objections and answer questions
be able to back up facts
promote “benefits”
In a first meeting
making a good first impression:
you may only have one shot, eyes open and ears wide, build rapport and adapt style to the customer
What to look for when first meeting
social style of the prospect: fact-oriented, personable, action-oriented
need identification
knowing prospects’ problems better than they do
When closing a deal, the most important thing to do is
ask for the deal
When do you discuss price with a client
LAST
sales support
provides assistance
new business salesperson
find new customers and make calls
missionary salesperson
promotes but doesn’t take orders
Agency theory
principal keeps agent motivated
compensation of employees according to performance
Types of commission
straight commission
commission with a draw
straight salary
other incentives for salespeople to sell
sales contests incentive programs sales meetings recognition honors
qualified sales leads
potential customers that have a need for a product AND are able to buy
referrals
obtained by the salesperson asking current customers if they know of someone else who might have a need for the salesperson’s product
cold-calling
contacting prospective customers without prior arrangement
trade shows
major events attended by key buyers
technical specialist
expert in one product
