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Personal Selling

Terms and concepts of Personal Selling

TermDefinition
Personal Selling A direct communication between a sales representative and one or more prospective buyers in an attempt to influence each other i n a purchase situation.
Relationship Selling A sales practice that involves building, maintaining, and enhancing interactions with customers in order to develop long term satisfaction through mutually beneficial partnerships.
Sales Process The st of steps a salesperson goes through in a particular organization to sell a particular product or service.
Lead Generation Identification of those firms and people most likely to buy the seller's offerings.
Referral A recommendation to a salesperson from a customer or business associate.
Networking A process of finding out about potential clients from friends, business contacts, coworkers, acquaintances, and fellow members in professional/civic organizations.
Cold Calling A form of lead generation in which the salesperson approaches potential buyers without any prior knowledge of the prospect's needs or financial status.
Lead Qualification Determination of a sales prospect's 1) recognized need, 2) buying power, and 3) receptivity and accessibility.
Preapproach A process that describes the "homework" that must be done by a salesperson before he or she contacts a prospect.
Needs Assessment A determination of the customer's specific needs an wants and the range of options the customer has for satisfying them.
Sales Proposal A formal written document or professional presentation that outlines how the salesperson's product or service will meet or exceed the prospect's needs.
Sales Presentation A formal meeting in which the salesperson presents a sales proposal to the prospective buyer.
Negotiation The process during which both the salesperson and the prospect offer special concessions in an attempt to arrive at a sales agreement.
Follow-Up The final step of the selling process. Salesperson ensures that all goods/services have transferred to the customer and they are satisfied with the exchange.
Created by: knkeller
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