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57 Cards in this Set
- Front
- Back
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What is personal selling? |
Personal selling is a person-to-person business activity in which a salesperson uncovers and satisfies the needs of a buyer to the mutual, long-term benefit of both parties. |
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Who needs to personal sell? |
Everyone in every field will be selling something at one point or another, making personal selling universal. |
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Advantages of a sales career |
*dictate own schedule *holistic/well-rounded business knowledge *travel *challenging/rewarding *learning business from the bottom up *compensation potential |
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Disadvantages of a sales career |
*rejection *you have to be "on" all the time *selling a tough product is a challenge *internal conflict often arises *building trust is difficult *discomfort closing *negative stereotype |
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4 types of promotional mix |
*impersonal/paid = advertising *personal/paid = personal selling/email *impersonal/unpaid = publicity *personal/unpaid = word of mouth |
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What is the primary methods of promotion for most companies? |
Personal selling is the primary method of promotion, even though it is the most costly |
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4 roles of the salesperson |
*client relationship manager *account team manager *vendor and channel manager *information provider to their firm |
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5 types of sales jobs |
*trade salespeople *new-business selling *technical salespeople *missionary salespeople *manufacturers' agents (reps)
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Trade Salespeople |
Trade salespeople sell to firms that resell the products rather than using them within the firm
"farmer" that is growing the account repeat customer |
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New-Business Selling |
New-business selling deals with the salesperson having a great deal of responsibility in finding new customers
"hunter" looking for accounts lots of rejection |
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Technical Salespeople |
Technical salespeople are people that have a technical background which allows them to provide support in later stages of the selling process |
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Missionary Salespeople |
Missionary salespeople sell the product, but firms buy from distributions or other manufactures |
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Manufacturers' Agents (Reps) |
Manufacturers' agents (reps) are independent business people who are paid a commission by a manufacturer for all products or services sold
Agents never own the product, simply perform the selling activities and then transmit the orders to the manufacturers
small companies |
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3 common sales jobs and distrubtion channels |
*manufacture - independent salesperson - business customer *manufacture - trade salesperson - distribution - distribution salesperson - business customer *manufacture - missionary salesperson - business customer |
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How do salespeople send their time? |
*on-site contacts 33% *servicing the account 10-20% *travel time 15-20% *administrative tasks 10-20% *other selling contacts 22% |
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True or False: Salespeople are born, not made. |
False! You can make someone a salesperson |
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What are characteristics of a good salesperson? |
*good listener > good talker * knowledge of the product/consumer *enthusiastic *personable *adaptive *empathy *be patient |
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3 Different selling styles |
*aggressive *assertive *submissive |
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Which selling style is best? |
Assertive: *responds to objections in a positive way *shows empathy *asks good questions and provides informaiton *does not give up on the first or even second "no" |
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6 Steps of the personal selling process |
1. prospecting 2. pre-approach planning 3. approaching the prospect 4. the sales presentation 5. handling objections 6. closing the sale |
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Creeping Commitment |
Gradual influence over consumer, ask for a little at a time. A sale is a series of closings |
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Which areas does business development deal with? |
*public relations, sales, social media, promotions, CRM (customer relationship management), brand management |
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What is the buying center? Is it the same thing as the purchasing department? |
The buying center is not the same thing as the purchasing department, it represents roles played by various people in (and out of) an organization which have an influence on the purchase decision |
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What does OEM stand for? |
Original Equipment Manufacturer |
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How do businesses buy? |
*think - feel - do *feel - think - do |
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What is a canned presentation? |
Also called a standard memorized presentation this is a completely memorizes sales talk. |
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What is a customized presentation? |
This is a written and/or oral presentation based on a detailed analysis of the customer's needs. |
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4 Personalities of the social style matrix |
*Driver (Donald Trump) *Expressive (Obama) *Amiable (Paul McCartney) *Analytical (Bill Gates) |
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Describe Drivers |
*swift, efficient decision makers *focus on the present and appear to have little concern with the past or future *interested in bottom line
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Describe Expressives |
*focus on the future, directing their time and effort toward achieving their vision *have little concern for practical details in present situations *long-term *enjoy talking about themselvesa |
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Describe Amiables |
*achieve their objectives by working with people, developing an atmosphere of mutual respect *enjoy asking you questions |
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Describe Analyticals |
*like facts, principles, and logic *suspicious of power and personal relationships *practical *keep it businesslike |
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Is prospecting important? |
It is the "life blood" of company growth |
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What is a lead vs. a prospect? |
A lead is minor information of a potential client while a prospect is a potential client that has been qualified and possibly contacted |
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C Prospects |
*name *address *phone number *possible contact *minimally qualified |
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B Prospects |
*possible need *shows interest *multiple meetings *more qualified |
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A Prospects |
*decision maker known *clear need for your product *short buying horizon *can afford you *highly qualified |
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Which type of prospect does a salesperson want most? |
A salesperson wants a mixture of C, B, and A prospects |
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What are sources for obtaining leads/prospects? |
*networking (social/business) *referrals (most powerful source) *group prospecting *list company |
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What is the endless chain method? |
Sales representatives attempt to get at least one additional lead from each person they interview (snowball effect) |
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Explain the power of "one more person" |
Assume that anyone you come in contact with in your profession has 10 close business associates, at just two degrees of separation, that one person represents the possibility of being in contact with 110 more people |
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Outcomes of good networking |
*more business contacts *more sales *more business education *more community involvement *more friends *knowledge is power |
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What is an elevator pitch? |
A 30 second selling strategy |
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How do you make a good first impression? |
*handshake *eye contact and a smile *names *dress conservatively *be early |
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3 Times you want when setting an agenda |
*you propose an agenda *you make sure the customer understands the value of the agenda *you get the customer's input and acceptance before moving on |
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5 Types of approaches |
*referral approach *benefits approach *product approach *compliment approach *question approach |
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Referral Approach |
Mr. Joyner, thank you for seeing me. I am here at the suggestion of Ms. Allen of Brock Controls |
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Benefits Approach |
Mr. Joyner, I would like to tell you about a copier that can reduce your copying costs by 15% |
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Product Approach |
Mr. Joyner, how would you like us to have this credenza in your office |
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Compliment Approach |
Mr. Joyner, I saw in the Post Dispatch that your company had a record profits this quarter, congratulations |
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Question Approach |
Mr. Joyner, what was your reaction to the brochure I sent you about our new services |
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What is the SPIN Technique? What does SPIN stand for? |
SPIN is used to gain interest in what you have to sell. SPIN = situation questions, problem questions, implication questions, need pay-off |
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Situation Questions |
These are general data-gathering questions designed to help you find out some basic information. Prospects quickly become bored if they hear too many of them. E.G what is your position, how many people do you employ |
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Problem Questions |
These are questions about specific difficulties, problems, or dis-satisfactions. These questions help to identify opportunities. E.G is your current machine difficult to repair, have you experience any difficulties with the overall quality of your forklifts |
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Implication Questions |
These questions are asked only after a dis-satisfaction has been identified. These questions help to identify opportunities. E.G what happens if you ship your customer a product that doesn't meet spec |
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Need Pay-Off |
When salespeople ask questions about the usefulness of solving a problem, they are asking need pay-off questions. E.G if I can show you a way to eliminate paying overtime for your operators and therefore reduce your costs, woud you be interested |
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What does SMART stand for? |
Specific, Measurable, Achievable, Realistic, Time specific |
