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Sales Exam 1

TermDefinition
defamation unfair or untrue statements to customers about a competitor, its products or its salespeople
reciprocity special relationship in which two companies agree to buy products from each other
tying agreement buyer is required to purchase one product in order to get another product
conspiracy an agreement between competitors before customers are contacted
collusion competitors working together while the customer is making a purchase decision
resale price maintenance minimum price below which distributors or retailers should not resell their products
spiff special promotion incentive fund or special incentives to get a reseller's salespeople to push products
price discrimination unjustified special prices, discounts, or services to some customers
privacy laws limit the amount of info that a firm can obtain about a consumer or specify how that info can be used or shared
do-not-call law limits the conditions under which anyone on the registry may be telephoned at home or on a cell phone
producers buy products and services to manufacture and sell their products and services to customers
original equipment manufacturer purchase goods to use in making their products
end users producers who buy goods and services to support their own production and operations
resellers buy finished products or services with the intention to resell them to businesses and consumers
government agencies purchase goods and services and develop detailed specifications for a product and then invite qualified suppliers to submit bids
institutions public and private like churches, hospitals, and colleges. purchasing rules and procedures are as complex and rigid as those of government agencies
consumers purchase products and services for use by themselves or by their families
derived demand purchases made by the OEMs and resellers depend on the product demand. sales to OEMs and resellers are based on derived demand
step 1 recognition of a need
step 2 definition of the product type needed
step 3 development of detailed specifications
step 4 search for qualified suppliers
step 5 acquisition and analysis of proposals
step 6 evaluation of proposals and selection of a supplier
step 7 placing and receiving the order
step 8 evaluation of product performance
new tasks purchasing a product or service for the first time
straight rebuys buying the same product from the source it was bought previously
modified rebuys obtaining new information of a product or a similar product that was purchased in the past
encoding translation of thoughts into words
decoding interpreting the meaning of the received message
standard memorized presentation completely memorized sales talk, presents same selling points to all the customers, provide complete and accurate info, limited effectiveness
outlined presentation prearranged presentation that includes stand intro, standard answers to objections, standard method for an order, effective because its well organized
customized presentation based on a detailed analysis of the customers needs, use the communication principles to discover customer's needs and problems and propose the most effective solution, adapts to customer needs
adaptive selling changing sale behavior according to the selling situation, illustrated by customized presentation, emphasizes the importance of satisfying customer needs, being adaptable increases buyer trust and commitment and results in higher sales performance
Created by: jennafarnsworth
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