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D077 Module 8
Personal selling
Term | Definition |
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Personal selling | uses in-person interaction to sell products and services. This type of communication is used by sales representatives, who are the personal connection between a buyer and a company or a company’s products or services |
Consultative selling | Sales approach where the seller becomes a trusted advisor to the customer and builds a relationship to truly understand her needs |
Solution selling | Sales approach where the seller diagnoses the customer’s problem then recommends a mix of products and services (a solution) to solve it |
Team selling | Sales approach that involves multiple people from an organization joining forces to advance a customer opportunity |
Telemarketing | Method of direct marketing by a sales person over the phone |
Adaptive selling | Using social styles to customize a sales approach to the specific customer |
Analytical | People with this social style want to know “how" |
Driver | People with this social style want to know “what” |
Amiable | People with this social style want to know “why” |
Expressive | People with this social style want to know “who” |
Integrated Marketing communication (IMC) | Immersive and targeted communication with customers to help move them through the various stages of the buying process |
Artificial Intelligence (AI) | Intelligent machines (computers) capable of learning and interacting |
Sales process | steps that a sales person goes through to sell a product |
Prospecting | Before planning a sale, a salesperson conducts research to identify the people or companies that might be interested in his or her product |
Qualifying | A prospect is a lead that is qualified or determined to be ready, willing, and able to buy. Qualifying questions help separate prospects from those who do not have the potential to buy. |
Approaching customers | the salesperson explains the reason for wanting an appointment and sets a specific date and time. At the same time, the salesperson tries to build interest in the coming meeting |
Presenting and demonstration | Present the product and show how the product works |
Handling objections | answering questions /objections asked by prospective customers |
Planned Obsolescence | is a policy of designing a product with a limited useful life, so it will become unfashionable or will no longer functional after a certain period of time and put the consumer under pressure to purchase again. |
Pyramid scheme | is a non-sustainable business model that involves promising participants payment or services, primarily for enrolling other people into the scheme rather than supplying any real investment or sale of products or services to the public.2 |