Sales Training Exam One – Flashcards
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What are the advantages of a career in sales?
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• No set routine • Entrepreneurship • Personal Satisfaction • Variety and Independence • Opportunity for Advancement • Professional salespeople are never unemployed • Salespeople have a direct effect on their income and security through their efforts
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What are the disadvantages of a sales career?
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• Handling objection • Variable income • Long hours • Travel
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What are the characteristics (attributes) of successful salespeople?
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• Enthusiasm, Sincerity, and Empathy • Goal Directed • Ability to ask questions • Resourcefulness • Administrative ability • Initiative • Perseverance • Pleasant personality
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What is the definition of personal selling?
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The process of seeking out people who have a particular need, assisting them to recognize and define that need, demonstrating to them how a particular service or product fills that need, and persuading them to make a decision to use that service or product.
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Why should everyone know how to sell?
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Salesmen are solution providers. They use their basic human relation skills to achieve this ability. Both introverts and extroverts are capable of having success in the sales field. They are goal oriented, and have opportunities to advance in their career.
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Provide a definition of relationship selling.
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the new method of selling. Selling that uses a problem solving approach. This type of selling focuses on customer relations, rather than making the sale by any means possible. Customer satisfaction an relationship management are the ultimate goal.
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What is the difference between features and benefits of a product?
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Features are any attribute that a product consists of. Benefits are specific features that will help a particular customer's needs. That is why it is important to ask the customer questions. This will help to understand what they are looking for, and which particular features of a product will solve their problem.
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What are the main points of Total Quality Management?
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• Listen and learn from customers and employees • Continuously improve the partnership • Teamwork through mutual trust and respect • Do it right the first time • Get your whole company involved
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What are the tasks in a Sales Cycle?
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• Prospecting • Pre-approach and Telephone Techniques • The Approach • Need Discovery • Making the Presentation • Handling Objections • Closing the Sale • Service after the Sale
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Name the key elements in building a business relationship.
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• Treat customers like life-long partners • Become a solutions provider • Deliver more service than you promise • Schedule regular service calls • Develop open and honest communication • Use the we can approach • Take responsibility for mistakes made • Be an ally for the customer's business
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What are some of the advantages of team selling?
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• Customer gets involved with more than one person • More accurate need definition • Very useful if product is technical • Different individuals bring more selling skills
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What are some of the legal issues facing salespersons?
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• Quality below standard specified • Violation of delivery date • Pricing concessions • Incomplete or incorrect instructions • Misrepresentation of product usage • Slandering competitor • Kickbacks to buyers • Charges after the sale • Monopolistic actions • Deceptive actions
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Who decides what is ethical at a company?
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• The government • Colleagues • Competitors • Culture
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What influences a salespersons ethics?
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• Company Code of Ethics • Examples Set by Colleagues and Competitors • Survival and Profit • Groupthink- peer pressure • Gamesmanship
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Who should a salesperson be responsible to?
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• Responsibility to self • Responsibility to the company • Responsibility to competitors • Responsibility to customers
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Name the five steps in the Purchase Decision Process.
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• Problem recognition (motive arousal) • The search for alternatives • Internal search (habitual, routine)/ external search (extensive, limited) • Evaluation of alternatives • The purchase decision
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What influences the purchase decision process?
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• The role of perception • Mood of the moment • Attitudes
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What are buying motives?
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A buying motive is an aroused need, drive, or desire that stimulates behavior to satisfy the aroused need
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What is a non-verbal message? Give examples.
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A non-verbal message is visual communication. This can be, for example, body language, facial expressions, and hand movement.
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Define Consumer Behavior.
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Consumer behavior is the set of actions that make up an individual's consideration, purchase, and use of products and services. This includes the purchase as well as the consumption of the products and services.
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What is Cognitive Dissonance?
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Cognitive dissonance is post-purchase anxiety.
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What are the parts (steps) of the communication model?
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• source -Encoding (implications) • Message (actions) • Decoding (references) -reciever
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What are the three basic purposes to encode a message?
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• Verbal/nonverbal (noise) • Verbal skills (clarify meaning) • Nonverbal skills (read)
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What are the four social (behavioral, communication) styles?
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• Nonresponsive (controlled) • Assertive (telling) • Responsive (emotional) • Nonassertive (asking)
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Which style is characterized by each of the pair of dimensions?
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SEE CHART IN PPT a) Low assertiveness & high responsiveness • Amiable, "why" b) Low assertiveness & low responsiveness • Analytical, "how" c) High assertiveness & high responsiveness • Expressive, "who" d) High assertiveness & low responsiveness • Driver, "what"
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What is a backup style and what is the importance to a salesperson?
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A social style that is only used sometimes, especially when someone is under stress. This is important to know because we respond to a style that is similar to our own. Conflict can happen if we use or stay in our own style. Flexibility or versatility, the willingness to control personal behavior and adapt, is important. Psychological reciprocity, when we move toward their style, then they others feel compelled to move toward our style, is also important.
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Point out some strengths of each of the four behavioral (communication) styles.
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• Driver: has good administrative skills and works quickly and impressively alone • Expressive: has good persuasive skills and works quickly and excitedly with others • Amiable: has good counseling and listening skills and supports and actively listens to others • Analytical: has good problem-solving skills and asks specific questions
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Name the four areas of knowledge that make a salesperson an "expert".
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• Knowledge about the product itself • Information about the company • Knowledge of the competition's offerings • Service available
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What advantage does knowledge of the competition's offerings provide for the salesperson?
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If the customer asks you about the competitor's product, you will be able to accurately compare yours to there's. You will be able to honestly explain the benefits of your product compared to the competitors. For example, of your product has a higher price compared to that of a competitors, you will be able to explain that your product is a higher quality with more benefits and therefore has a higher price.
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What would you do about product knowledge if you were hired to sell a highly technical product for which you have little background or understanding?
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I would learn as much as I can about it, and be very prepared. However, I would do a joint meeting with an engineer that could better explain the technical side of the product
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What do you need to set goals and accomplish them?
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Motivation
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What are sources of motivation?
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fear and incentives
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What is the 75/25 rule?
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talk 25% listen75%
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Actions of happy versus unhappy customers.
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-A happy customer will tell 3 to 4 other people. -An unhappy customer will tell 8 to 12 other people.
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Definition of self concept.
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. . . shaped by the ideas, attitudes, feelings, perceptions and thoughts you have about yourself that influence the way you relate to others. Feelings and behavior are consistent with the self-concept The self-concept can be changed!
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What is empathy?
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Empathy is the ability to understand what a person is feeling
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What is integrity?
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Integrity involves achieving congruence between what you know, say, and do Integrity has become a valuable character trait
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Why do you want lifetime customers?
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Cost of acquiring new customers. Build your business (career) in sales. Personal enjoyment
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What is TQM?
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a system of management based on the principle that every staff member must be committed to maintaining high standards of work in every aspect of a company's operations.
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What are the benefits of Team Selling?
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-Customer gets involved with more than one person -More accurate need definition -Very useful if product is technical -Different individuals bring more selling skills
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What is the foundation for the word "Ethics"?
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The word ETHICS comes from the Greek word ETHOS - which means the character or sentiment of the community.
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What are the five (5) checkpoints in ethical decision making?
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1. Is it legal? 2. Is it fair to all concerned? 3. Would I want someone else to act this way towards me? 4. How would I explain my actions to someone else? 5. How will it make me feel about myself?
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Sherman Anti Trust Act
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-Protect consumers -Monopolies (price fixing)
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Federal Trade Commission Act
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-Unfair methods of competition in commerce -Unfair or deceptive acts or practices
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Robinson Patman Act
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-Defines price discrimination -Gives FTC the right to limit quantity discounts -Prohibits unfair promotional allowances
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Individual versus group decisions
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People will make decisions in a group that they would never make as an individual.
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Percentage of communication that is impacted by words, tone or non-verbal dimensions.
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55%
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Consumer versus organizational buyer motives.
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Consumer Increase wealth Alleviate fear Secure social approval Satisfy bodily needs Experience happiness or pleasure Gaining an advantage Imitating Dominating others Recreation Improving health Organizational Profit Economy Flexibility Uniformity of output Salability Protection Utility Guarantees Delivery Quality
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Three types of consumer buying situations.
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-Habitual buying situations Frequently purchased, low cost items Low consumer involvement Variety-seeking buying situations Low consumer involvement Low perceived difference in brands (price, coupons, etc) Complex buying situations High degree of consumer involvement Purchased infrequently Product more complex & expensive
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Three types of business (organizational) buying situations.
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New-task buy Salespeople rely on consultative selling skills Item that is a first time purchase. Straight rebuy Salespeople constantly monitor satisfaction Routine purchase of items needed by business Modified rebuy Salespeople can provide service and anticipate changes Competitive factors can bring this on
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Know how to "flex" sell to a particular style.
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Become highly adaptable so it doesn't affect your selling
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What is encoding?
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The process in which the salesperson converts an idea or concept into symbols the buyer can understand.
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What is decoding?
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Decoding is the process by which prospects figure out the meaning of the message (symbols).
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Define Adaptive Selling or Style Flexing.
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"Adaptive selling can be defined as altering sales behavior or communication style in order to improve communication with the customer." Also called style flexing.
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What are the two dimensions of human behavior that determine communication style?
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-dominance & sociability
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Define Brand.
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a consumer's "gut feeling" or perception about a product or service.
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What is differentiation?
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Your ability to separate yourself and your product from that of your competitors. It is the key to building and maintaining a competitive advantage.
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Types of motivation.
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-fear, incentive, and attitude
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Keys for goal setting.
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SET GOALS - establish daily, weekly & monthly quotas for acquiring new prospects. ALLOCATE TIME - establish a regular daily schedule for conducting prospecting activities. KEEP RECORDS - track your results from using different prospecting methods. STAY POSITIVE - develop confidence by knowing your products & believing that you offer the best solutions. EVALUATE - What is working for you? Compare results & use the methods that work best for you.
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Define positioning.
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- the way customers perceive a product relative to competing products.
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Define Prospecting, Prospect & Prospect Base.
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Prospect: a potential customer that meets the qualification criteria established by your company Prospecting: identifying potential customers Prospect base: is made up of current customers and potential customers
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What is the importance of prospecting?
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Every salesperson must cope with customer attrition: CLIENT DIVERSIFICATION Top client should not be more than 15% of your business Top 10 customers should not make up more than 70% of your business.
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Name sources of prospects.
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Referrals Cold calling Networking Prospecting by non-sales employees Group prospecting
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What is a referral?
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A contact name given to you by a current customer, a friend, a social contact, or even a prospect who did not buy.
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What is networking?
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Networking - active cooperation There are formal groups that you can join Sharing information makes good sense
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What is cold calling?
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make an unsolicited call on (someone), by telephone or in person, in an attempt to sell goods or services
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What is the difference between a Lead and a Prospect?
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Sales Lead - is just a name Prospect - researched for need, money, and authority Qualified Prospect - evaluated prospect along with personal information A truly qualified prospect must pass the MADDEN Test
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Why do we try to qualify prospects?
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So we don't waste time selling to someone that truly doesn't need anything from us or cannot possibly buy from us.
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What questions do we ask to qualify a prospect?
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Does the prospect need my product? Does the prospect have the authority to buy my product? Does the prospect have the financial resources to buy my product? Does the prospect have the willingness to buy my product?
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In MADDEN - what do the letters stand for.
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M - Money - do they have the means to purchase? A - Approachable - can you get an appointment? D - Desire - do they have the desire to buy? D - Decision Maker - are they the decision maker? E - Eligible - can they buy? N - Need - does your product fit their need?
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What is the difference between A, B & C Prospects?
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Class A - Enough information to make a presentation Class B - Need more information to make a presentation Class C - A "lead", you simply have a name
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What is CRM? What information should be included?
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Sales data about the prospects.
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Define "Preapproach".
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...is the planning and preparation done prior to the actual contact with the prospect.
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Sources of preapproach information.
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Part Research Part Planning Part Critical Thinking
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What are the Six (6) telephone Tracks?
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Step 1 - Introduce yourself and your company Step 2 - Take the curse off the call Step 3 - State the purpose of the call Step 4 - An interest-capturing statement Step 5 - Request an appointment Step 6 - Overcome resistance
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What are the benefits to salespeople of conducting activities in the preapproach.
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Allows you to be less mechanical and more thoughtful Allows you to anticipate problems and plan ways to handle them. Having a plan and knowing the customer bolsters your self confidence. Enhances your perceived value
