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Personal Selling
Terms and concepts of Personal Selling
Term | Definition |
---|---|
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. |