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MKTG 250 Ch. 21

Vocab Review

QuestionAnswer
Personal selling the two-way flow of communication between a buyer and seller, often in a face-to-face encounter, designed to influence a person’s or group’s purchase decision.
Sales management consists of planning the selling program and implementing and evaluating the personal selling effort of the firm.
Relationship selling the practice of building ties to customers based on a salesperson’s attention and commitment to customer needs over time.
Order taker processes routine orders or reorders for products that were already sold by the company.
Order getter sells in a conventional sense and identifies prospective customers, provides customers with information, persuades customers to buy, closes sales, and follows up on customers’ use of a product or service.
Personal selling process Consists of sales activities occurring before, during, and after the sale itself, consisting of six stages: (1) prospecting, (2) preapproach, (3) approach, (4) presentation, (5) close, and (6) follow-up.
(1) Prospecting stage Identify and qualify prospects.
(2) Preapproach stage Preparing for the sales call.
(3) Approach stage The initial meeting with the prospect.
(4) Presentation stage At the core of the selling process.
(5) Close stage Asking for the order.
(6) Follow-up stage Solidifying the relationship.
Stimulus-response presentation a sales presentation format that assumes that given the appropriate stimulus by a salesperson, the prospect will buy.
Formula-selling presentation A sales presentation format that consists of information that must be provided in an accurate, thorough, and step-by-step manner to inform the prospect.
Need-satisfaction presentation A sales presentation format that emphasizes probing and listening by the salesperson to identify needs and interests of prospective buyers.
Trial close make decision on some aspect of the purchase
Assumptive close Consider choices for delivery, warranty, and so on.
Urgency close Emphasize the importance of timeliness.
Geography salesforce structure Uses regions, simplest structure.
Customer salesforce structure Used for different marketers and buyers.
Product salesforce structure Specific expertise is needed.
Compensation Straight salary, straight commission, combination, nonmonetary rewards.
Salesforce automation (SFA) the use of computer, information, communication, and Internet technologies to make the sales function more effective and efficient.
Marketing automation Applies systems and technologies, including AI algorithms, to provide insights to salespeople.
Created by: dom23uriarte
 

 



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