Marketing Chapter 20

Front 1

Order Taker

Back 1

processes routine orders or reorders for products that were already sold by the company.

Front 2

Order Getter

Back 2

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

Front 3

Prospecting

Back 3

search for and qualification of potential customers.

Front 4

Lead

Back 4

name of a person who may be a potential customer

Front 5

Prospect

Back 5

a customer who wants or need the product

Front 6

Qualified Prospect

Back 6

if an individual wants the product, can afford the product, and is the decision maker

Front 7

Cold Canvassing

Back 7

salesperson may open a directory, pick a name, and contanct that individual or business.

Front 8

3 Formats for Sales Presentation

Back 8

1.) Stimulus-response Format
2.) Formula Selling Format
3.) Need-Satisfaction Format

Front 9

Stimulus-response Format

Back 9

a presentation format which assumes that given the appropriate stimulus by a salesperson, the prospect will buy.

Front 10

Formula Selling Format

Back 10

Formula selling presentation is a presentation format that consists of information that must be provided in an accurate, thorough, and step-by-step manner to inform the prospect.

Front 11

Need-Satisfaction Format

Back 11

a presentation format that emphasizes probing and listening by the salesperson to identify needs and interests of prospective buyers.
-Adaptive selling - need-satisfaction presentation format that involves adjusting the presentation to fit the selling situation, such as knowing when to offer solutions and when to ask for more information.
-Consultative selling is a need-satisfaction presentation format that focuses on problem identification, where the salesperson serves as an expert on problem recognition and resolution.

Front 12

6 Ways to handle Objections by Customer

Back 12

-Acknowledge and convert the objection

-Postpone

-Agree and neutralize

-Accept the objection

-Denial

-Ignore the objection

Front 13

Straight Salary

Back 13

salesperson is paid a fixed per week, month or year

Front 14

Straight Commission

Back 14

a salesperson’s earnings are directly tied with sales or profit generated

Front 15

Combination of Salary and Commission

Back 15

specified salary, plus commission on sales or profit generated

Front 16

2 Types of Sales Force Evaluations

Back 16

1.) Quantitative Assessments

2.) Behavioral Evaluation