Brainscape's Knowledge GenomeTM

Browse over 1 million classes created by top students, professors, publishers, and experts.


See full index

CMS 337 > Test 1 > Flashcards

Test 1 Flashcards

You may prefer our related Brainscape-certified flashcards:
Introductory Sommelier Exam (CMS) flashcards
1
Q

Golden rule of selling

A

Unselfishly treating others as you would like to be treated

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

What is selling?

A
  • A part of marketing
  • Communication and persuasion directly with customer
  • B2B builds long-term relationships (80% of business is repeat customers)
  • Growth profession
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

What do salespeople do in their jobs and what makes them successful?

A
  • Trying to find new customers (prospecting)
  • Keep existing customers happy
  • Focused on long-term sale
  • Providing customers w products/services that will solve their problems
  • Remember the customer’s customer
  • Evaluating post purchase use
  • Goodwill
  • Pages 22-25
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Why do people choose sales as a career?

A
  • Variety of jobs
  • Freedom
  • Challenging career
  • Advancement opportunities (1.7 exhibit)
  • Rewards
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Retail

A
  • Customer contact person
  • In-store
  • Direct (off-site): direct marketing
  • Telephone
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Wholesaler

A

Distributor, middle-organization

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Manufacturer sales reps

A
  • Account representative
  • Detail (introduces product)
  • Sales engineer (tech knowledge)
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

How do you qualify a prospect?

A

Money - do they have it?
Authority - can they do it?
Desire - do they want it?

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Differences between transactional and relationship selling (partnership distinctions not necessary)

A
  • Transactional: what you typically experience/when you walk into a store
  • Relationships: establishing partnerships
  • read appendix (golden rule of personal selling as told by a salesperson)
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Cold-calling

A

Someone who hasn’t yet been contacted by company or someone who hasn’t worked with company before

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Inside sales

A

Selling products and services remotely (phone calls, emails, video conferencing etc.)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Outside sales

A

Selling products and services in person through face-to-face meetings, industry events, conferences, trade shows, seminars, door-to-door sales, etc.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Chapter 3 golden rule

A

Unselfishly help your customers to make the correct buying decisions.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

How we make decisions to buy (types of decisions and the mental process)

A
  • Needs (lack of something desirable)
  • Wants (learned needs)
  • Rational
  • Emotional
  • Not always economic
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

How to determine and develop needs

A
  • Unconscious (ex: life insurance for college students)
  • Preconscious (ex: vitamins you heard of but don’t take)
  • Conscious: (dropping your phone in the toilet)
How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Sales process/synthesis learning process

A 
Prospecting
Preapproach
Approach
Presentation
Trial close
Objections and overcoming
Trial close
Close
Follow-up and service
17
Q

Buying situations

A
  • Routine (fav candy) least involvement
  • Limited (phone)
  • Extensive (1st house) most involvement
18
Q

Why do you need to prospect?

A

In order to increase sales and replace customers that will be lost over time, many sales jobs require prospecting

19
Q

Buyers as decision makers

A
  • Need arousal
  • Collect info
  • Evaluate
  • Decision
  • Post-purchase behavior
  • Multiple buyers are involved with limited and extensive
20
Q

How to distinguish between features, advantages, and benefits

A
  • Features: (ACL/SXSW)
  • Advantages: (don’t have to travel for these music events)
  • Benefits: (get to enjoy music)
21
Q

How we make decisions to buy

A
  • Needs (lack of something desirable)
  • Wants (learned needs)
  • Rational
  • Emotional
  • Not always economic
22
Q

How to determine and develop needs

A 
LOCATE
L - listen
O - observe
C - combination
A - ask questions
T - talk to others
E - empathize
23
Q

How to distinguish between features, advantages, and benefits

A
  • Features: physical characteristics (no calories)
  • Advantages: performance characteristics (won’t gain weight)
  • Benefits: results buyer receives (look hot/find a boyfriend)
24
Q

Pointers for FABs

A

Sell benefits with the features and advantages can be helpful

25
Q

What is a trial close and be able to recognize them

A
  • Take their temperature (leaning towards or away from your product)
  • “Is this important to you?”
  • Go back and revamp your FABs
  • Telephone prospecting: use before asking for an appt
26
Q

Cell phone and email etiquette

A
  • Email (utexas.edu): be concise, respond quickly, use subject headings, spell check and use proper grammar, remember everything is documented
  • Cell phone: focus on the person on the other end, turn it off often, text message when helpful but not rude
27
Q

Chapter 5 golden rule

A

Salespeople must be experts on everything involved with their products (doctor)

28
Q

Benefits of customer knowledge

A

B2B selling requires asking numerous questions. It helps sales reps get to know their customer and get feedback on any issues in the sales process so that they can refine the buying experience

29
Q

How are prices set?

A

They’re established by the company and normally the salesperson is not involved in pricing the product

30
Q

Five of the most common types of prices

Chapter 5 Appendix on Pricing (see the worksheet that you did on your own). Answers posted on Canvas Module

A
  • List price: the standard price charged to customers
  • Net price: the price after allowance for all discounts
  • Zone price: the price based on geographic location or zone of customers
  • FOB shipping point: (free on board) means the buyer pays transportation charges on the goods
  • FOB destination: the seller pays all shipping costs.
31
Q

Benefits of teams

A

More info, more creativity, more accountability, better decision making, division of labor, and more motivation

32
Q

What is a team contract?

A

Goals, expectations, policies and procedures, and consequences

33
Q

How to overcome phonophobia?

A

Just do it
People don’t have to answer if they’re busy
Have a script/notes

CMS 337 (3 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2024 Bold Learning Solutions. Terms and Conditions