Marketing 3000 Mizzou Online Ch 17 – Flashcards
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Campaign Management
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Developing product or service offerings customized for the appropriate customer segment and then pricing and communicating these offerings for the purpose of enhancing customer relationships
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Cold Calling
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A form of lead generation in which the salesperson approaches potential buyers without any prior knowledge of the prospects' needs or financial status
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Customer Centric
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A philosophy under which the company customizes its product and service offering based on data generated through interactions between the customer and the company
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Follow Up
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The final step of the selling process, in which the salesperson ensures delivery schedules are met, goods or services perform as promised, and the buyers' employees are properly trained to use the products
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Interaction
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The point at which a customer and a company representative exchange information and develop learning relationships
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Knowledge Management
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The process by which customer information is centralized and shared in order to enhance the relationship between customers and the organization
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Lead Generation (Prospecting)
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Identification of those firms and people most likely to buy the seller's offerings
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Lead Qualification
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Determination of a sales prospect's (1) recognized need, (2) buying power, and (3) receptivity and accessibility
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Learning
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An informal process of collecting customer data through customer comments and feedback on product or service performance
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Needs Assessment
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A determination of the customer's specific needs and wants and the range of options the customer has for satisfying them
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Negotiation
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The process during which both the salesperson and the prospect offer special concessions in an attempt to arrive at a sales agreement
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Networking
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A process of finding out about potential clients from friends, business contacts, coworkers, acquaintances, and fellow members in professional and civic organizations
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Point of Sale Interactions
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A touch point in stores or information kiosks that use software to enable customers to easily provide information about themselves without feeling violated
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Preapproach
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A process that describes the "homework" that must be done by a salesperson before he or she contacts a prospect
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Quota
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A statement of the salesperson's sales goals, usually based on sales volume
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Referral
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A recommendation to a salesperson from a customer or business associate
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Relationship Selling (Consultative Selling)
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A sales practice that involves building, maintaining, and enhancing interactions with customers in order to develop long-term satisfaction through mutually beneficial partnerships
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Sales Presentation
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A formal meeting in which the salesperson presents a sales proposal to a prospective buyer
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Sales Process (Sales Cycle)
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The set of steps a salesperson goes through in a particular organization to sell a particular product or service
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Sales Proposal
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A formal written document or professional presentation that outlines how the salesperson's product or service will meet or exceed the prospect's needs
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Touch Points
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Areas of a business where customers have contact with the company and data might be gathered
