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DB 320 exam 3

QuestionAnswer
Business Ethics Organizational principles and values that guide individual and group behavior.
Business Ethics in B2B Salespeople in the field negotiate and make decisions based on customer demands and competition.
Shadow of a Leader Concept The behavior and example of leaders can influence the behavior of employees.
3 Typical Buying Situations New Task Modified Rebuy Straight Rebuy
Purchasing Process steps Recognition of need Evaluation of options Purchase decision Implementation and evaluation
Recognition of need Help customers recognize a need or a problem. Redefine issues in a new way.
Evaluation of options Identify viable alternative solutions. Effectively deal with uncertainty.
Purchase decision Help expedite the purchase process. Make it convenient and uncomplicated.
Implementation and evaluation Support decisions through post-sale service. Demonstrate product. Adjust as needed.
Account Types & Relationship Distinctions Strategic Partner Potential Partner Contract Account
Strategic Partner — Willingness to Share Information / Willingness to Partner Fully committed; demonstrated partner.
Strategic Partner — Cost Focus Total supply chain focused.
Strategic Partner — Capacity That Can Be Made Available High or potentially high.
Potential Partner — Willingness to Share Information / Willingness to Partner Lacks full commitment to an open partnership.
Potential Partner — Cost Focus Service and price-oriented, while still being price sensitive.
Potential Partner — Capacity That Can Be Made Available Requires some operational guidance.
Contract Account — Willingness to Share Information / Willingness to Partner Unsophisticated in the strategic partnership concept.
Contract Account — Cost Focus Contract-oriented, not loyal.
Contract Account — Capacity That Can Be Made Available Low to medium capacity potential.
Average Number of Sales Representatives Buyers See in Person Each Week 1.8
Average Number of Sales Calls It Takes to Close a Sale 5
Buying Center consists of all personnel formally or informally involved in the purchasing decision.
Buying Center Participant Roles Decision-maker User Gatekeeper Advocate / Influencer
Decision-Maker The person who ultimately says yes or no. Oftentimes, the purchasing agent is the same person as the decision-maker, but sometimes that may not occur.
User The people who actually use the product.
Gatekeeper Individuals who control the flow of information that goes into the decision and into the buying process itself.
Advocate / Influencer Someone outside of the user, decision-maker, purchasing agent, or gatekeeper who can help generate a buying decision. For example, finance people may help generate a buying decision based on the finances available.
Pull Strategy The manufacturer markets directly to the end user to generate demand back to the distributor. Examples: Auto manufacturers and specialty drug manufacturers.
Push Strategy The manufacturer directly involves the distributor in a promotional campaign and induces support from the distributor for the manufacturer's products.
Specific Promotional Push Strategies Promotional allowances Cooperative advertising Incentives & contests Missionary reps
Promotional Allowances Manufacturers tie allowances and discounts to a specific volume of distributor purchases.
Disadvantage of Promotional Allowances A potential bullwhip effect.
Cooperative Advertising A common arrangement is 50-50 cost sharing of advertising expenses. The distributor receives money for advertising the manufacturer's brand. The manufacturer can provide suggestions or a ready-to-go campaign.
Missionary Selling Instead of selling directly and taking orders, a manufacturer generates sales indirectly by providing information and support to others who control the sale to the end-user.
What Incentives & Contests Can Do Create new customers. Boost sales of specific products. Help launch a new product. Counter seasonal slumps.
Created by: $Z-Money$
 

 



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