Ch. 20 – Personal Selling and Sales Management – Flashcards
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Personal Selling
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two-way flow of communication between a buyer and a seller
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Sales management
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involves planning the selling program and implementing and evaluating the personal selling effort of the firm; highly human intensive
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What are the three major roles of Personal Selling?
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1. Critical link between firm and customers 2. Salespeople are the firm in a customer's eyes 3. Plays a dominant role in marketing program
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What are the two ways of creating value?
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1. relationship selling 2. Partnership selling
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Relationship selling
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building ties over time; salesperson's commitment and trust
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Partnership selling
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1. buyers and sellers combine expertise and resources to create 2. customized solutions through 3. joint planning and 4. shared info
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What are the three forms of personal selling?
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1. Order Taker 2. Order Getter 3. Customer Sales Support
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Order taker
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process routine or reorders that were already sold (inside or outside)
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Order getter
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identifies prospective customers, provides info to customers, persuades, and closes sales (inside or outside)
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Customer Sales Support (4)
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1. Missionary salespeople 2. Sales engineer 3. Cross-functional Team selling 4. Conference or Seminar Selling
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6 Stages of the Personal Selling Process
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1. Prospecting 2. Preapproach 3. Approach 4. Presentation 5. Close 6. Follow-up
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Prospecting (def. and 4 types)
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search and qualification of potential customers 1. lead- name of person who may be a possible customer 2. Prospect- customer already and wants 3. Qualified prospect- wants, can afford and is decision maker 4. Cold canvassing
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Preapproach
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obtaining further info on the prospect and deciding the best method of approach
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Approach (def. and three purposes)
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Initial meeting between salesperson and prospect 1. gain attention 2. stimulate interest 3. build foundation for presentation
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Presentation
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core of order getting; need to create desire for product/service
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3 Presentation formats
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1. stimulus-response 2. formula selling 3. Need-satisfaction
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stimulus-response
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suggestive selling
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formula selling
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canned sales presentation
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Need satisfaction
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1. adaptive selling: adjust presentation to fit the selling situation, knowing when to offer solutions and when to ask for more info 2. consultative selling- focuses on problem I.D., where the salesperson serves as an expert on problem recognition and resolution
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6 ways to handle objections
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1. acknowledge and convert 2. postpone 3. agree and neutralize 4. accept the objection 5. denial 6. ignore the objection
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What are the three types of closings?
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1. Trial close- make decision on aspect 2. Assumptive close- make decision with assumption that sale is finalized 3. Urgency- refer to timeline
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Follow-up
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-ensure delivery and installation -continue relationship -ease concern
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Sales management (def. and three functions)
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planning the selling program and implementing and controlling the personal selling effort of the firm; 1. formulation 2. implementation 3. evaluation and control
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What are the three components of the Sales Plan Formulation?
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1. Setting objectives 2. Organizing the salesforce 3. Account Management policies
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What are 4 approaches to setting the objectives?
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1. total salesforce or individuals 2. output related 3. input related 4. behavioral
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What are the three decisions in organizing the salesforce?
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1. should firm make or buy? 2. make.. how should it be organized? 3. How many salespeople?
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What are three ways to organize the salesforce?
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1. geography 2. customer 3. product
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Account management policies
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how you manage accounts; to see where to focus
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What are the 3 steps of sales plan implementation?
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1. Recruitment and selection 2. salesforce training 3. motivation and compensation
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4 aspects of recruitment and selection?
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1. job analysis 2. job description 3. job qualifications 4. evaluate prospect
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5 types of salesforce training
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1. on the job 2. individual instruction 3. formal classes 4. seminars 5. computer-based
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4 ways to motivate
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1. clear job description 2. effective sales management 3. personal need for achievement 4. proper compensation
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4 ways to compensate
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1. straight salary 2. straight commission 3. combo 4. non-monetary rewards
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2 ways to evaluate salesforce
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1. quantitative: input versus output 2. Behavioral: attitude, attention to customers, etc
