Sales strategy exam 1 – Flashcards
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consultative selling
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an approach to personal selling that is an extension of the marketing concept. Emphasis is placed on need identification, need satisfaction, and the building of relationship that results in repeat business.
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integrity
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the quality of being honest and having good moral principles.
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psychic income
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consists of factors that provide psychological rewards, help satisfy these important needs and motivates persons to achieve high levels of performance.
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partnering
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high quality relationship that focuses on solving the customers buying problem. Maintain high ethical standards as the very foundation to build long term partnership style relationships. highest selling relationship.
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nonverbal messages
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without words. communicate through facial expression, voice tone, gestures, appearances, and posture; body language.
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personal selling
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occurs when a company representative interacts directly with the customer to present information about a product
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strategic selling alliance
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goal is to achieve a market place advantage by teaming up with another company whose product/service fits well with is own.
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emotional intelligence
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capacity for monitoring your own feelings and those of others
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value added selling
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series of creative improvements within sales prices that enhance the customer experience. sells value of the product/serive
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character
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mental or moral qualities distinctive to an individual
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libel
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published false statement that is damaging to ones reputation
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why are sales people called knowledge workers?
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you have to be knowledgeable about what you are selling. you need to know what you are selling and about your competition
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what are the three prescriptions for personal selling
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value personal selling, adopt a marketing concept, and assume the role of problem solver
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why would a salesperson use social media
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advertising, to keep in contact with customers, and a way to communicate sales offerings and deals
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sales during industrial economy vs sales in information economy
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sales has gone from more peddling to consulting. it is about building relationships with customers today.
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inside sales vs. outside sales
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inside sales is performing selling activities at the employer's location. and outside sales is traveling to meet customers in their place of business
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different opportunities within sales industry
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service channel (hotel,financial, media, real estate, ) business goods (sales engineer, field sales person) Consumer goods (retail)
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why do sales do greater than other business people
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they are the first people you see. "front porch of the business"
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different employment settings
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retail sales, direct sales, business to business sales, business to consumer
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four sources of sales training
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certification programs, corporate sponsored training (by company), commercial vendor training, college and universities
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what is a marketing concept
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principle that holds that achieving organization depends on knowing the need and wants of the target market and delivering the desired product.
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marketing mix
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set of controllable tactical marketing tools that consist of everything he firm can do to influence the demand for its products. PPPP - product, place, price, promotion
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evolution of consultative selling
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trying to establish a relationship through effective communication between salesperson and customer
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evolution of strategic selling
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you have a list of objectives you have to meet it. increase global competition, broader and more diverse product lines. more decision makers involved in major purchases and greater demand for specific custom made solutions
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difference between marketing and sales department
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marketing wants money for ads, while sales wants money to hire more salespeople
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four groups of relationship strategy
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four groups of relationship strategy is consumer, secondary decision makers, company support staff, management personnel.
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product strategy
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plan that helps sales people make correct decisions based on selecting for a consumer
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prescriptions for product strategy
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become a product expert, sales benefits, configure added solutions
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presentation strategy
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plan that include 3 things. establishing objective for sales presentation, prepare the presages presentation plan needed to meet these objectives, renewing ones commitment to providing outstanding customer service.
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highest form of partnership
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strategic selling alliance. achieve a marketplace advantage by teaming up with another company whose product or service fits well with its own.
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personal selling philosophy
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adopt market concept, value personal selling, become a problem sovler
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business ethics
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compromise principles and standards that guide behavior in the world of business.
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top management and top sales are role model
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role model provided by top management- company policies and practices. role model provided by top sales- personal value of salesperson. ethical conduct of salesperson
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reciprocity
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a mutual exchange of benefits, as when a firm buys products form its own customers. illegal when one company pressures another company to join the agreement.
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bribery
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giving someone something in order to influence their decision.
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gift giving
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giving a gift to try to persuade a business transaction is unethical. do not give a gift before doing business. never convey impression you are buying the customers business with presents.
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use of internet
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offer salespeople many advantages. can also cause ethical dilemmas. email abuse or libel content about a company.
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slander
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action or crime of making a false spoken statement damaging to a person's reputation
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strategic alliance sales
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they want to do business with an institution they can trust.look past products and salespeople and assess organization as a whole
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trust factor
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1. transaction sales- trust in product 2. consultative sales- customer focus shifts from product to person selling it. 3. strategic alliance sales- looking beyond sales person and assess organization.
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three major relationship challenges
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building a new relationship, transform personal relationship to business relationship, management of the relationship
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handshake, facial expression, body language
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if you sit up straight and look ahead at the person it shows confidence. if you have your hand on your face and leaning it shows boredom. eye contact during handshake, degree of firmness, depth of interlock, duration of grip.
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what is the best clothing policy for office
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dress like your boss or dress like your customer.
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self awareness, self confidence
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belief about yourself that are present in everyday life
