Sales and Marketing Vocab Ch. 12-15 – Flashcards
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finding customers and keeping them satisfied
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Customer Relationship Management (CRM)
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solidify
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Communication between companies and their customers can be quick and efficient, which helps to __ relationships even after a sale is made
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interface
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Mobile devices or laptops can be programmed into __ with the company's computer system.
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written report that documents a sale representative's visit with a customer
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call report
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dollar or unit sales goal set for the sales staff to achieve in a specific period of time
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sales quota
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any form of direct contact between a salesperson and a customer
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personal selling
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involves sales exchanges that occur between two or more companies or business groups
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organizational selling
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when a salesperson visits someone without an appointment
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cold call
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telephone solicitation to make a sale
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telemarketing
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1 approach the customer 2 determine needs 3 present the product 4 overcome objections 5 close the sale 6 perform suggestion selling 7 build relationships
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seven steps of a sale
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is used when there has been little or no previous experience with an item
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extensive decision making
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is used when a person buys goods and services that he or she has purchased before but not regularly
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limited decision making
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is used when a person needs little information about a product that he or she is buying
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routine decision making
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perquisites (perks)
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some salespeople are given car allowances and expense accounts, which are considered __ of the job
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shadowing
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some salespeople spend months attending classes and __ experienced salespeople before selling on their own
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involves coordination of sales and promotional plans with buying and pricing
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merchandising
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matching the characteristics of a product to a customer's needs and wants is a concept
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feature-benefit selling
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longevity
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consumers purchase leather shoes for their appearance, easy care, comfort, and ___
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basic, physical, or extended attributes of the product or purchase
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product features
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tangible attributes that help explain how a product is constructed
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physical features
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intangible attributes related to the sale of a product that customers find important
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extended product features
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the advantages or personal satisfaction a customer will get from a good or service
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customer benefits
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created by noting the function of a product feature and explaining how it benefits a customer
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selling point
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reasons a customer buys a product
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buying motives
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conscious, logical reasons for a purchase
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rational motives
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feelings experienced by a customer through association with a product
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emotional motives
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reasons for remaining a loyal customer of a company
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patronage motives
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looking for new customers
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prospecting
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also known as a sales lead potential customer
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prospect
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names of other people, that salespeople ask for, that might buy the product
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referrals
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when salespeople ask previous customers for names of potential customers
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endless chain method
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process of locating as many potential customers as possible without checking leads beforehand
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cold canvassing
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a positive relationship
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rapport
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salesperson welcomes the customer to the store
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greeting approach
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salespeople as customers if they need assistance
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service approach
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also known as theme approach salesperson makes a comment or asks questions about a product in which the customer shows an interest
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merchandise approach
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astute
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to be an effective salesperson, you need to be __ in determining customers' needs and wants
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expressing oneself without use of words
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nonverbal communication
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those that require more than a yes or no answer
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open-ended questions
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words the average customer can understand
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layman's term
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collate
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to demonstrate the features of a copier, you might show how it can enlarge or reduce a document as well as __ and staple multiple copies
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swatches
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sales aids may include samples, fabric __, reprints of magazines and newspaper articles, audiovisual aids, and scaled models
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are concerns, hesitations, doubts, complaints, or other reasons a customer has for not making a purchase
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objections
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reasons given when a customer has no intention of buying
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excuses
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document that lists common objections and possible responses to them
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objection analysis sheet
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recommending a different product that would still satisfy the customer's needs
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substitution method
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brings the objection back to the customer as a selling point
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boomerang method
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technique that permits the salesperson to acknowledge objections as valid, yet still offset or compensate them with other features and benefits
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superior-point method
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compensate
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off set
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when the customer's objection is based on misinformation
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denial
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involves using previous customer or another neutral person who can give a testimonial about the product
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third party
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obtaining positive agreement from the customer to buy
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closing the sale
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things customers say or do to indicate a readiness to buy
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buying signals
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initial effort to close a signal
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trial close
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commit
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customers will most likely tell you why they are not ready to __ to buying
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closing method that encourages a customer to make a decision between two items
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which close
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a method used when a product is short supply or when the price will be going up in the near future
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standing-room-only-close
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a method in which you ask for the sale
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direct close
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method in which you explain services that overcome obstacles or problems
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service close
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perseverance
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research suggests that __ is the way to succeed
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selling additional goods or services to the customer
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suggestion selling
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appreciated
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it involves selling other items to customers that will ultimately save time and money or make the original purchase more __
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volume
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expense rose, but not in proportion to the sales __
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1 use after customer made a commitment but before payment 2 make recommendation from customers point of view and give a reason for suggestion 3 make suggestion definite 4 show item you are suggesting 5 make suggestion positive
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suggestion selling 5 basic rules
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also known as cross-selling increase the use or enjoyment of customer's original purchase
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suggesting related merchandise
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call shipping department to confirm a special delivery date check to make sure delivery occurs as promised call the customer and explain any delay phone customers a week or two after the purchase to see if they are happy with the selection send a thank-you note with your business card attached
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follow up questions
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true
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True or False: The endless chain method of prospecting involves customer referrals
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False (a rational motive involves a logical argument)
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True or False: Fear, power, and approval are examples of rational motives
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True
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True or False: Potential customers can be both a business or an individual
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True
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True or False: Most buying decisions involve a combination of buying motives
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False (there are 3-basic features, physical features, extended product features)
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True or False: product features are broken down into 5 categories
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True
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True or False: customer benefits are considered to be an advantage
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True
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True or False: it is a good idea to have customers handle a product and respond to questions in order to involve customers in the product presentation step of the sales process
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boomerang
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in the __ method for answering objections, the objection is converted into a selling point
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True
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True of False: It is good to use words like "I" and "me" when you are trying to create an ownership mentality for your customers.
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trial
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A __ close is the initial effort to close a sale.
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40,500
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What is 6 percent of $675,000?
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True
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True or False: Personal selling involves two-way communication between a buyer and a seller.
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ongoing, profitable
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The purpose of selling is to help customers make satisfying buying decisions with the goal of creating ___,____ relationships with them
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reasons for remaining a loyal customer
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Define patronage motive
