MKT chapter 18 personal selling: – Flashcards
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_____ is the point at which a customer and a company representative exchange information and develop learning relationships.
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interaction
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Kay and Jenny's, a restaurant, has implemented a new system that identifies and gathers information about its regular customers. It rewards the regular customers by giving them gift coupons and cash prizes. This is most likely an example of a(n) _____ system.
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customer relationship management (CRM)
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How can personal selling reduce the costs of promoting a product or service?
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adjusting the size of the sales force in one-person increments
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_____ is the ultimate goal of a new trend in marketing that focuses on understanding consumers as individuals instead of as part of a group
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customer relationship management
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When compared to other forms of promotion, personal selling:
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gives more freedom for the sales message to be customized according to the interest of the prospective customers
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Mandy's Packaging Inc. is a multibillion-dollar supplier of packaging materials. One of its salespeople rearranged production schedules at three different plants to satisfy an unexpected demand for boxes from a major client. The salesperson's action is typical of the company's sales philosophy and indicates an emphasis on _____.
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relationship selling
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Maggie's Apparel Inc. is a store that offers customized shopping, whereby consultants pick clothing they feel will fit a customer's style and specified need. This scenario most likely illustrates _____.
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personal selling
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Which of the following is part of defining the sales goal of a company?
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assigning quotas to salespeople
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During the preapproach stage of the selling process, a salesperson should:
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learn as much as possible about a prospect's organization and its buyers.
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personal selling:
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-provides detailed explanation or demonstration of the product
-sales message can be varied according to the motivations and interests of each prospective customer
-be directed only to qualified prospects
-costs can be controlled by adjusting the size of the sales force in one person increments
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relationship selling (consultative selling)
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sales practice that involves building, maintaining and enhancing interactions with customers in order to develop long-term satisfaction through mutually beneficial partnerships
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personal selling is more important if...
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the product has a high value
it's a custom made product
product is technically complex
customers are concentrated
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advertising and sales promotion are more important if...
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product has low value
standardized product
easy to understand
customers are geographically dispersed
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CRM
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ultimate goal of a new trend in marketing that focuses on understanding customers as individuals instead of as part of a group
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customer-centric
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philosophy under which the company customizes its product and service offering based on data generated through interactions between the customer and the company
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learning
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informal process of collecting customer data through customer comments and feedback on product or service performance
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knowledge management
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process by which learned information from customers is centralized and shared in order to enhance the relationship between customers and the organization
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interaction
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point at which a customer and a company representative exchange information and develop learning relationships
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touch point
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area of a business where customers have contact with the company and data might be gathered
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point of sale interactions
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touch point in stores or information kiosks that uses software to enable customers to easily provide information about themselves without feeling violated
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campaign management
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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
-based off of data obtained from customer
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sales process (sales cycle)
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set of steps a salesperson goes through in a particular organization to sell a particular product or service
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seven basic steps in the personal selling process
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generating leads
qualifying leads
approaching the customer and probing needs
developing and proposing solutions
handling objections
closing the sale
following up
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lead generation (prospecting)
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identification of those firms and people most likely to buy the seller's offerings
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referral
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recommendation to a salesperson from a customer or business associate
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networking
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process of finding out about potential clients from friends, business contacts, coworkers, acquaintances, and fellow members in professional and civic organizations
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cold calling
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form of lead generation in which the salesperson approaches potential buyers any prior knowledge of the prospect's needs or financial status
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lead qualification
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determination of a sales prospect's (1) recognized need, (2) buying power, (3) receptivity and accessibility
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preapproach
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process that describes the "homework" that must be done by a salesperson before he or she contacts a prospect
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needs assessment
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determination of the customer's specific needs and wants and the range of options the customer has for satisfying them
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sales proposal
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formal written document or professional presentation that outlines how the salesperson's product or service will meet or exceed the prospect's needs
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sales presentation
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formal meeting in which the salesperson presents a sales proposal to a prospective buyer
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negotiation
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process during which both the salesperson and the prospect offer special concessions in an attempt to arrive at a sales agreement
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follow-up
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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
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quota
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statement of the salesperson's sales goals, usually based on sales volume
