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Selling
Term | Definition |
---|---|
Benefit | An advantage consumers receive from using a product |
Economic flow | The movement of resources from resource owners to producers and from producers to consumers |
Economy | The system in which people make and spend their incomes |
Entrepreneurs | People who assume the risks of starting and operating businesses |
Ethics | The basic principles that govern your behavior |
Feature | A fact or characteristic of the product |
Goods | Tangible objects that can be manufactured or produced for resale |
Intangible | Not capable of being detected through the senses |
Intermediaries | Middleman operating between the producer and consumer to move goods and services |
Manufacturer | A type of producer that changes the shapes or forms of materials so that they will be useful to consumers |
Need | Something required or essential that is lacking |
Product knowledge | Information about a specific good or service that can be used in sales presentations |
Products | Goods and services |
Resale | The process of selling again |
Retailer | The process of selling again |
Sales presentation | The sales procedure in which the salesperson shows the customer the benefits of the product's features; includes the sales dialogue and product demonstration |
Selling | A marketing function that involves determining client needs and wants and responding through planned, personalized communication that influences purchase decisions and enhances future business opportunities |
Selling skills | The ability to determine customers' needs, wants, and buying motives; to open and close sales; to question customers; to handle customer objections; suggest additional or substitute items; demonstrate products; and follow up sales |
Services | Intangible activities that are performed by other people for money; productive acts that satisfy economic wants |
Tangible | Capable of being touched, smelled, tasted, seen, or heard |
Ultimate consumption | The process or activity of using goods and services for personal use |
Utility | Usefulness; capable of satisfying wants and needs |
Want | A desire for something that may or may not be required |
Wholesaler | An intermediary who helps move goods between producers and retailers by buying goods from producers and selling them to retailers |