Chapter 17: Personal Selling and Sales Management – Flashcards
Unlock all answers in this set
Unlock answersquestion
Personal Selling
answer
the two-way flow of communication between a buyer and seller, often in a face-to-face encounter, designed to influence a person's or group's purchase decision
question
Sales Management
answer
involves planning the selling program and implementing and evaluating the personal selling effort of the firm
question
Relationship Selling
answer
the practice of building ties to customers based on a salesperson's attention and commitment to customer needs over time
question
Order Taker
answer
a salesperson who processes routine orders or reorders for products that were already sold by the company
question
Order Getter
answer
a salesperson who sells in a conventional sense and identifies prospective customers, provides customers with information, persuades customers to buy, closes sales, and follows up on customers' use of a product or service
question
Personal Selling Process
answer
sales activities occurring before and after the sale itself
question
Stages in the Personal Selling Process
answer
the stages are: 1. Prospecting 2. Preapproach 3. Approach 4. Presentation 5. Close 6. Follow-Up
question
Prospecting Stage
answer
first stage in the personal selling process search for and qualify prospects
question
Lead
answer
the name of a person who may be a possible customer
question
Prospect
answer
a customer who wants or needs the product
question
Qualified Prospect
answer
an individual that wants the product, can afford to buy it, and is the decision maker
question
Cold Canvassing or Cold Calling
answer
technique used when a salesperson picks up a directory, picks a name, and contacts the individual or business
question
Pre-Approach Stage
answer
second stage in the personal selling process in which one gathers information and decides how to approach the prospect
question
Approach Stage
answer
third stage in the personal selling process in which one gains a prospect's attention, stimulates interest, and makes the transition to presentation
question
Presentation Stage
answer
fourth stage in the personal selling process that begins by converting a prospect into a customer by creating a desire for the product or service
question
3 Major Presentation Formats
answer
the three major formats are: 1. Stimulus-Response 2. Formula-Setting 3. Need-Satisfaction
question
Stimulus-Response Format
answer
presentation format that assumes that given the appropriate stimulus by a salesperson, the prospect will buy --salesperson tries one appeal after another hoping to hit the right button
question
Formula-Setting Format
answer
presentation format based on the view that a presentation consists of information that must be provided in an accurate, thorough, and step-by-step manner to inform the prospect
question
Canned Sales Presentation
answer
a popular version of the formula-setting presentation format --a memorized, standardized message conveyed to every prospect
question
Need-Satisfaction Format
answer
presentation format in which the salesperson dominates the conversation but also emphasizes probing and listening to identify the needs and interests of prospective buyers
question
Adaptive Selling
answer
a need-satisfaction sales presentation style that involves adjusting the presentation to fit the selling situation
question
Consultative Selling
answer
a need-satisfaction sales presentation style that focuses on problem identification, where the salesperson serves as an expert on problem recognition and resolution
question
6 Most Common Techniques in Handling Objections
answer
the six most common techniques are: 1. Acknowledge and convert 2. Postpone 3. Agree and neutralize 4. Accept 5. Denial 6. Ignore
question
Close Stage
answer
fifth stage in the personal selling process --obtain a purchase commitment from the prospect and create a customer
question
Trial Close
answer
involves asking the prospect to make a decision on some aspect of the purchase
question
Assumptive Close
answer
entails asking the prospect to consider choices concerning delivery, warranty, or financing terms under the assumption that a sale has been finalized
question
Urgency Close
answer
used to commit the prospect quickly by making reference to the timeliness of the order
question
Follow-Up Stage
answer
last stage in the personal selling process --ensure that the customer is satisfied with the product or service
question
Sales Plan
answer
a statement describing what is to be achieved and where and how the selling effort of salespeople is to be deployed
question
3 Tasks Involved in Sales Plan Formulation
answer
the three tasks involved are: 1. Setting Objectives 2. Organizing the Salesforce 3. Developing Account Management Policies
question
How do companies organize their salesforce?
answer
organized on the basis of: 1. Geography 2. Type of consumer 3. Specific products or services
question
Major Account Management
answer
an important variation of the customer organizational structure that is the practice of using team selling to focus on important customers so as to build mutually beneficial, long-term, cooperative relationships; also called "key account management"
question
Account Management Policies
answer
policies that specify who salespeople should contact, what kinds of selling and customer service activities should be engaged in, and how these activities should be carried out
question
3 Major Tasks Involved in Implementing a Sales Plan
answer
the three major tasks involved are: 1. Salesforce recruitment and selection 2. Salesforce training 3. Salesforce motivation and compensation
question
Straight Salary Compensation Plan
answer
a salesperson is paid a fixed fee per week, month, or year
question
Straight Commission Compensation Plan
answer
a salesperson's earnings are directly tied to the sales or profit generated
question
Combination Compensation Plan
answer
contains a specified salary plus a commission on sales or profit generated
question
Sales Quota
answer
specific goals assigned to a salesperson, sales team, branch sales office, or sales district for a stated time period
question
Salesforce Automation (SFA)
answer
the use of technology to make the sales function more effective and efficient
