Chapter 1 Sales Flashcard

professional selling
direct to consumer
-business to business
-trade selling (selling to retailers) or can be called business to business selling
=this is “where the money is at”
Transactional selling
-Retail
-Inside sales (order taking) (this is where you get your “feet wet” or trial period)
-Some non-human
Sales Profession
Fact: estimated 16.4 million people work in sales, out of a total work force of approximately 133 million in the US (12.3% or approx.. 1 out of 8).
-of this 4.8 million are transactional sales
-sales jobs are growing, especially when economy is doing swell
-Transactional sales are dying because of companies like Amazon (20 to 80% reduction of transactional sales force in next decade) (also transactional sales jobs are the simpler ones)
1) What are the advantages of a career in sales
A career in sales offers you a varied scheduled instead of doing the same thing over and over again. As the book states, “Selling is never boring”. Sales career is also one that has flexible hours and one can usually pick their schedule. A sales career is a good guarantee for an advancement if you are good at your job. It is also a good career if one is seeking to own/run their own business in the future. There are many management positions open due to a number of skills used in selling closely resemble of those needed for top management. Sales career is also great for security since companies will always need sales people.
2) What are the disadvantages of a sales career
Some people view a commission-based income as not as secure as a fixed salary. Others sees the constant change in the economy as a huge threat to sales due to sales can be greatly affected by how well the global economic climate is doing. A sales career also has irregular hours and travel time which some view as a hassle. The biggest disadvantage would probably be rejection since every sale does not get made into a profit.
Professional Salespeople
The professional salesperson is the eyes and ears of the company (They usually know what is actually happening than CEO’s)
-They play a large role in the company’s marketing strategy and product development
-Nothing happens until someone sells something
The most important profession in America-Sales
One salesperson is responsible for employing 27 people directly and 100 people indirectly
-Salespeople are the best paid people in the United States today. More salespeople earn above $100,000 a year than any other profession
Past image of sales people
-“He could sell ice to an Eskimos”
-Not a pretty sight
Hopefully new image: sales people are more of a solution provider…sales professionals demonstrate their value to customers by providing information and helping solve problems
“Building trust is it”
-Number one thing trust comes from is knowledge
What do professional salespeople do?
Seek out prospects (prospecting) (number one reason people don’t go into sales or get out of it)
-Learn of their needs (problems) through questions
-Demonstrate how your product (service) solves their problem (meets their need)
-Convince them that your proposed solution is the best solution
-Provide great customer service after the sale
-THEY BUILD LONG TERM RELATIONSHIPS
What qualities or skills are needed for a sales position
-Ability to listen
-Communication skills
-Relationship building
-Work ethic and time management
-integrity and sincerity (Build Trust)
-Care- appreciate your customers and your staff
-Empathetic
-Knowledge- know your product, company, competition, and industry
-Bring added value to your customers (value added selling)
-Resourceful
-Enthusiasm
-Goal directed (self-motivation)
-Takes the initiative (Self-starting)
-Perseverance
Four areas of knowledge
1.) Know your product
2.) Know your company
3.) Know your competition
4.) Know the industry and history
Why get into sales?
-jobs available
-above average income
-above average psychic income (recognition, competition, thrill of achievement, etc.)
-opportunity for advancement
-flexibility (no set routine)
-Helping others- personally rewarding
-travel
-allows you to get involved with your passion
-entrepreneurial
personal selling
is 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.
Trade selling
is to increase business from present and potential customers through merchandising and promotional assistance. They usually deal with buyers who are re sellers (wholesalers and retailers). Stock as inventory is replenished or setting up product display.
Missionary selling
Educating those who ultimately decide what product the consumer will use. Ex: pharmaceutical firms
Technical selling
Engineers, scientists, and others with the technical expertise to explain the advantages of the company’s product. Usually sell directly to the firms that use their product.
New business selling
seeks out and persuade new customers to buy for the very first time. Vital to firms putting their focus on sales growth.
selling at retail
biggest area of salespeople employed. Retail salesperson sells products or services to customers for their own personal use.
The order taker vs order getter
order taker simply resppnds to requests and the order getter is a creative problem solver.
Creative personal selling generally offers the greatest high income because it demands the highest level of personal skill, dedication, and effort.
Five types of salespeople
Account representative, detail salesperson, sales engineer, industrial products salesperson, non-technical, and service salesperson.

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