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4.01 & 4.02 Notes
Selling; Importance & Types/ Recognizing Selling Process
| Question | Answer |
|---|---|
| What is selling? | exchange of goods & services from producers to consumers for a price |
| What is data- based Marketing? | the involvement of collection or info about past, current, & potential consumers |
| What is telemarketing? | marketing through phone |
| What is personal selling? | 2 way communication between a represenative of the company and the customer |
| B2B selling? | businesses selling to each other |
| Direct Mail? | personal, recieved in mailbox. It is to iniate the sales process. |
| Internet Selling? | Executed by using the internet. |
| Selling & Full Menu Marketing | selling helps customer make informed buying decisions,which results in customer satisfaction and repeat business. |
| Full Menu Marketing | having products or services that meet virtually ones' needs or wants |
| Feature Benefit Selling | -product features are the basic, physical & extended characteristics of an item -involves matching the characteristics of a product to a customers' needs & wants |
| Customer Buying Motives | Rational,Emotional & Patronage |
| Decision Making Product | customers go through a decision-making process in order to determine what products they will buy |
| Extensive Decision-Making | Occurs when there is a high level or perceived risk, a product or service is very expensive or has high value to customer |
| Limited Decision Making | Occurs when a customer buys products that he/she has purchased before but not regularly |
| Routine Decision Making | Occurs when little info is needed about the product being purchased |
| Steps of the Selling Process | activites that take place during the Preapproach. -product info - review current trade periodicals -sources and methods of prospecting |
| Product Information | knowing how to use and care for a product is essential when educationg consumers and demonstrating a product. - four sources of product information are direct experience, written publications, other people and formal training |
| Reviewing Current Trade Periodicals | crucial to stay abreast of current trends and industry information |
| Sources and Methods of Prospecting | a prospect is a potential customer |
| Approach | 1st encounter with a customer *critical |
| 3 types of approaches | service, greeting and merchandise (sales approach in SEM) |
| Service Approach | "May I help you" *least effective *used in hurry or selling a service |
| Greeting Approach | "Is it still raining?" *used to acknowlege customers presence and establish rapport *introduction of oneself *can be combined with service &/or merchandise approach |
| Merchandise Approach | "Atlanta Braves jersey won't shrink when washed" *includes comments or questions about the merchandise the customer is looking at or handling *considered most effective |
| Sales Approach in Sports and Entertainment Marketing | *telemarketing *direct mail *personal selling |
| Determining the Needs of Customers | *observe *listen * question |
| Product Presentations and Demonstration | *actively involve the customer *show the product (never show more than 3 items at one time) *when in doubt show med, high then low |
| How to make the presentation come alive | *involve the customer by putting the product in the customers' hand *demonstrate how the product works |
| OvercomeObjections | *an object is a reason, concern, or hesitation a customer has for not, making a purchase |
| Common Objections | *may be spoken or unspoken *may be logical or psychological *may relate to the need, product, price, salesperson, source, store, or time *may occur at any point in sale *should be welcomed |
| Handling Objections | *listen *acknowledge *restate *answer the objections |
| Methods for Handling Objections | Boomerang & Question |
| Boomerang | objection comes back to the customer as a selling point |
| Question | customer is questioned in an attempt to learn more about the objections raised |
| Superior Point | sales person acknowledges the objection as vaild, but offsets them with other features and benefits |
| Denial | provide proof and accurate information when answering objections *best used when the customer has wrong information or when the objection is in the form of a question |
| Standing Room Only Close | used when a product is in short supply or when the price will be increasing in the near future |
| Direct Close | salesperson asks for the sale |
| Service Close | Explains services that overcome obstacles or problems |
| Suggestion Selling | *beneficial to the customer & the sales person *customer recievers benefit of goods or services that will compliment purchase |
Created by:
CarolineWest
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