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34 Cards in this Set
- Front
- Back
- 3rd side (hint)
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Golden Rule
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Treat others as you would like to be treated, reciprocity is not expected
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3 types of sales jobs
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Retail
Wholesale Manufacturing |
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SSUCCESS
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Success begins with love
Service to others Use of Golden Rule Communication Ability Personal Characteristics Excels at Strategic Thinking Sales Knowledge Stamina for the job |
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10 Steps in Selling Process
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1. Prospecting
2. Preapproach 3. Approach 4. Presentation 5. Trail Close 6. Objections 7. Meet objections 8. Trial Close 9. Close 10. Follow-up and service |
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Marketing Concept
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Business philosophy that says the customers' want-satisfaction is the economic and social justification for ta firm's existence
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Relationship Marketing
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the creation of customer loyalty.
Based on the idea that important customers need continuous attention |
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Consultative selling
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The process of helping the customer achieve strategic short and long term goals
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3 things customers typically want
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1. salespeople who are committed to helping them succeed
2. who will stay involved with them over time 3. to always focus on their needs when developing recommendations and suggesting products to the buyer |
consultative selling
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Buying teams
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multifunctional specialists who make sure their needs are communicated to the seller
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Team selling
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brings together the appropriate people and resources needed to make the sales call
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3 Levels of Moral Development
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Preconventional
Conventional Principled |
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Level One (Moral Development)
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Preconventional- acts in his/her best interest
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What can I get away with?
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Level 2 (moral development)
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Conventional- conforms to expectations of others
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What am I legally required to do
60-80% |
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Level 3 (moral development)
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Principled- lives by an internal set of morals, values and ethics regardless of punishments or majority opinions.
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What is the right thing to do?
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Ethics is not...
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the assumption that it is ethical if it is not illegal
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Misrepresentation
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when a product fails to perform as promised
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Cash Discount
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A discount for paying bills within a stated period of time.
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Markup
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dollar amount added to the product cost to determine its selling price
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represents gross profit, usually expressed as a percentage
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Gross profit
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the money available to cover the costs of marketing the product, operating the business, and profit
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net profit
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the money remaining after the costs of marketing and operating the business are paid
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Cost Markup Formula
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% markup = amt added to cost/ cost
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Sales Markup Formula
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% markup = amt added to cost/ selling price
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FAB selling
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Features, Advantages, Benefits
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black box
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buyer's mind
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F- FAB
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features: physical characterisitcs
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A- FAB
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how a product can be used, how it will help the buyer increase the chances of making a sale.
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B- FAB
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what's in it for me?
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LOCATE
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Listen
Observe Combine Ask Questions Talk to Others Empathize |
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Key to success
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how to determine important buying needs
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LOCATE
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4 times to use a trial close
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1. after a strong selling point
2. after the presentation 3. after answering a question 4. immediately before you move to close the sale |
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SELL
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Show feature
Explain Advantage Lead into benefit Let customer talk |
(FAB)
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attitude
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buyer's predisposition toward something
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belief
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state of mind in which trust or confidence is place in something or someone
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perception
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learned through experience
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