Personal selling and sales management

Question 1

A philosophy under which the company customizes its product and service offering based on data generated through interactions between the customer and the company

Answer 1

customer centric

Question 2

An informal process of collecting customer data through customer comments and feedback on product or service performance

Answer 2

Learning

Question 3

The process by which learned information from customers is centralized and shared in order to enhance the relationship between customers and the organization

Answer 3

Knowledge Management

Question 4

A sales practice that involves building, maintaining, and enhancing interactions with customers in order to develop long-term satisfaction through mutually beneficial partnerships

Answer 4

Relationship Selling (Consultative Selling)

Question 5

The point at which a customer and a company representative exchange information and develop learning relationships

Answer 5

Interaction

Question 6

Area of a business where customers have contact with the company and data might be gathered

Answer 6

Touch Point

Question 7

A touch point in stores or information kiosks that uses software to enable customers to easily provide information about themselves without feeling violated

Answer 7

Point-Of-Sale Interaction

Question 8

Developing product or service offerings customized for the appropriate customer segment and then pricing and communicating these offerings for the purpose of enhancing customer relationships

Answer 8

Campaign Management

Question 9

The set of steps a salesperson goes through in a particular organization to sell a particular product or service

Answer 9

Sales Process (Sales Cycle)

Question 10

dentification of those firms and people most likely to buy the seller’s offerings

Answer 10

Lead Generation (Prospecting)

Question 11

A recommendation to a salesperson from a customer or business associate

Answer 11

Referral

Question 12

A process of finding out about potential clients from friends, business contacts, coworkers, acquaintances, and fellow members in professional and civic organizations

Answer 12

Networking

Question 13

A form of lead generation in which the salesperson approaches potential buyers without any prior knowledge of the prospects’ needs or financial status

Answer 13

Cold Calling

Question 14

Determination of a sales prospect’s (1) recognized need, (2) buying power, and (3) receptivity and accessibility

Answer 14

Lead Qualification

Question 15

A process that describes the “homework” that must be done by a salesperson before he or she contacts a prospect

Answer 15

Pre-approach

Question 16

A determination of the customer’s specific needs and wants and the range of options the customer has for satisfying them

Answer 16

Needs Assessment

Question 17

A formal written document or professional presentation that outlines how the salesperson’s product or service will meet or exceed the prospect’s needs

Answer 17

Sales Proposal

Question 18

A formal meeting in which the salesperson presents a sales proposal to a prospective buyer

Answer 18

Sales Presentation

Question 19

The process during which both the salesperson and the prospect offer special concessions in an attempt to arrive at a sales agreement

Answer 19

Negotiation

Question 20

The final step of the selling process, in which the salesperson ensures delivery schedules are met, goods or services performed as promised, and the buyers’ employees are properly trained to use the products

Answer 20

Follow-Up

Question 21

A statement of the salesperson’s sales goals, usually based on sales volume

Answer 21

Quota