Chapter 1 Selling and Sales People Flashcard

Personal Selling
phenomenon of human-driven interaction between and within individuals/organizations in order to bring about economic exchange within a value-creation context
value
total benefit that the seller’s products and services provide to the buyer
customer value proposition (CVP)
collection of biter-specific benefits
go-to-market strategies
companies’ options in how they approach customers as they add value
sales force-intensive organizations
orgs whose go-to-market strategies rely heavily on salespeople
multichannel strategy
firms using several strategies at the same time
Communication Methods
Advertising/sales promotion; Personal selling/email; publicity; word of mouth
integrated marketing communications
communication programs that coordinate the use of various vehicles to maximize the total impact of the programs on customers
six sigma selling programs
programs designed to reduce errors introduced by the selling system to practically zero
supply chain logistics
management of the supply chain dealing with a 3rd party vendor, where the salesperson will need to coordinate the efforts with the vendor
customer relationship management (CRM) system
system used in electronically transmitting important market information to the company, its salespeople, and customers
distribution channel
set of people and orgs responsible for the flow of products and services from the producer to the ultimate user
Business-to-business channels
main channels: 1. direct sales to a business customer where sales people working for the manufacturer call directly on other manufacturers to sell to 2. sales through distributor channel where salespeople are hired by manufacturers to sell to distributors
trade salespeople
salespeople in the distributor channel hired by the manufacturer to sell to distributors
Sales job and distribution channel
manufacturer uses missionary sales people to promote their products to other firms, where those firms buy the products from distributors or other manufacturers
missionary salespeople
work for manufacturer and promote the manufacture’s products to other firms
consumer channels
1. firm’s salespeople sell product/service directly to consumers 2. manufacturers employ trade salespeople to sell to retailers 3. manufacturers employ trade salespeople and missionary salespeople to sell to retailers or distributors
manufacture’s agents
independent business people who are paid a commission by a manufacturer for all products or services sold
Factors for descriptions on sales jobs:
1. the stage of the buyer-seller relationship 2. the salesperson’s role 3. the importance of the customer’s purchase decision 4. the location of the salesperson-customer contact 5. The nature of the offering sold by the salesperson 6. The salesperson’s role in securing customer commitment
Stage of Buyer-Seller Relationship: New or Continuing
for new customers, salespeople need to be self-confident, able to deal with rejection during contact. For salespeople dealing with continuing customers, they are are responsible for placing more emphasis on building relationships and servicing them
Salesperson’s Role:Taking Orders or Creating New Solutions
Some sales jobs focus mainly on taking orders, whereas Salespeople who sell to only buyers in headquarters of a company work with buyers to develop new systems and methods, or new products to increase retailer’s sales and profits
Importance of the Purchase to the Customer
1. sales jobs involving important decisions for customers differ greatly from those involving minor decisions, and the salesperson will have to interact with a number of people that are involved in the purchase decision. 2.important to develop partnering relationships because roles of salespeople in companies are evolving toward a partnering orientation, and salespeople are called upon to build partnerships and other relationships with some accounts
Locations of Salesperson-Customer Contact:
Field Salespeople or Inside Salespeople
Field Salespeople
spend a lot of time in the customer’s place of business, communicating with the customer face-to-face. Is more demanding because more intense interactions with customers
Inside sales people
work at their employer’s locations and typically communicate with customers by telephone or computer. Is less demanding because less intense interactions with customers and respond to customer-initiated requests
The Nature of the offering Sold by the Salesperson: Products or Services
type of benefits provided by products and services affects the nature of the sales job. Benefits are either tangible or intangible, where intangible benefits are harder to sell because it is hard to shoe the payload
The Salesperson’s Role in Securing Customer Commitment: Information or Placing an Order
sales jobs differ by the types of commitments and the manner in which they are obtained.
Characteristics of successful sales people
Self-Motivated, Dependability and trustworthiness; ethical sales behavior; customer and product knowledge, analytical skills and the ability ti use information technology; communication skills; flexibility and agility; creativity; confidence and optimism; emotional intelligence
Emotional intelligence
ability to effectively understand and regulate one’s emotions and to read and respond to the emotions of others
4 Aspects of Emotional Intelligence
1. knowing one’s feelings and emotions as they are experienced 2. controlling one’s emotions to avoid acting impulsively 3. reorganizing customers’ emotions (empathy) 4. using one’s emotion to interact effectively with customers
Rewards in Selling
Independence and responsibility; financial rewards; management opportunities
Building Partnerships Model:
1. knowledge and skills needed for partnerships 2. the partnership development process 3. the salesperson as a manger
Selling Process (Steps)
1. Prospecting 2. Planning for the sales call 3. Making the sales call 4. Strengthening the presentation 5. Responding to objections 6. Obtaining commitment 7. Building partnering relationships after the sale
customer-centric (pg9)
customer lifetime value (CLV) (pg. 6)
selling analytics (pg18)
24/7 service (pg. 9)
supply chain logistics (pg. 9)

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