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82 Cards in this Set
- Front
- Back
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Personal Selling includes
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Personal communication of information, Persuasion, Helping others. Goods, Services and Ideas
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Salesperson Differences
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Traditional salesperson - Guided by self - interests
Professional Salesperson - Takes care of customers Golden Rule Salesperson - Other interests are most important |
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Personal Selling
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Refers to the personal communications of information
To unselfishly persuade someone To buy something – a good, service, idea, or something else – that satisfies that individual’s needs. |
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Retail Selling
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Sells good and services to customers for their personal, non business use
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Direct Selling
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Face to face sales to consumers, typically in their homes, who use the products for their non business personal use
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Selling for a Wholesaler
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For resale, for use in producing other goods, for use within an organization
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Selling for a Manufacturer
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Working for the firm who manufacturers the product. Usually one of the most prestigious jobs.
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Salespeople
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Represent their companies to the world
Work with little or no supervision Require more people skills Are often allowed to spend company funds May require travel and being away from home |
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10 steps in customer relationship selling process
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Prospecting, Pre approach, Approach, Presentation, Trial Close, Objections, Meet objections, trial close, close, follow up and service
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Prospecting
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Locating and qualifying prospects
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Pre approach
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Obtaining interview. Planning: determining sales call objective, developing customer profile, customer benefit program, and sales presentation strategies.
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Approach
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Meeting prospect and beginning customized sales presentation.
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Presentation
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Further uncovering needs; relating product benefits to needs using demonstration, dramatization, visuals, and proof statements.
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Trial close
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Asking prospects’ opinions during and after presentation
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Objections
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Uncovering objections
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Meet objections
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Satisfactorily answering objections
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Trial close
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Asking prospect’s opinion after overcoming each objection and immediately before the close
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Close
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Bringing prospect to the logical conclusion to buy
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Follow up and service
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Serving customer after the sale
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Chapter 2 ( Two Basic Functions and Goal of Business)
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Two Basic Functions of Business
Production of goods or creating of services Marketing those goods and services |
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The Primary Goal of Business
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Transform marketplace and workplace into an environment where everyone is treated fairly
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Marketing definition
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Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.
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The Production Concept
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Companies are production oriented
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The selling concept
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Characterized by product demonstrations and unsophisticated sales techniques
Emphasis on the product Product created and then sold Management is sales-volume oriented Stresses needs of the seller |
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The marketing concept
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Emphasis is on customer’s wants
Customer’s wants drive production Management is profit-oriented Planning is long-term Stresses wants of buyers |
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Marketers 4 main objectives
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Maximize the sales for existing products in existing markets
Develop and sell new products Develop new markets for existing or new products Provide quality service to ensure repeat business |
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A good
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physical object that can be purchased
ex : car, phone and medicine |
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A service
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action or activity performed for a fee
Ex: car mechanic, phone plan, health insurance |
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Price
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value or worth of a product that attracts the buyer to exchange money or something of value for the product
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4 Basic components of a firm's promotional effort (PAPS)
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Personal selling
Advertising Publicity Sales promotion |
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3 Levels of Relationship marketing ( Transactional, Relationship and Partnering selling)
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Transactional selling - customers are sold to and not contacted again
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Relationship selling
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the seller contacts customers after the purchase to determine if they are satisfied and have future needs
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Partnering Selling
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the seller works continually to improve its customers’ operations, sales, and profits
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Chapter 3 (Ethics)
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Ethics is the code of moral principles and values that govern the behaviors of a person or a group with respect to what is right or wrong
Ethical behavior refers to treating others fairly |
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Organizations Main responsibilities
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Discretionary - contribute to community and quality of life
Ethical - do what is right Legal - obey the law Economic - be profitable |
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Level of Moral development
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Principled - “What is the right thing to do?”
Conventional - “What am I legally required to do?” Preconventional - “What can I get away with?” |
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Ethics in Dealing with Salespeople -
Level of sales pressure Decisions affecting territory To tell the truth? The ill salesperson Employee rights termination-at-will privacy sexual harassment |
look in textbook page 81
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Salespeople’s Ethics in Dealing with Their Employers
Misusing company assets Moonlighting Cheating Affecting other salespeople Technology theft |
look in textbook page 86
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Reciprocity
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Buying a product from someone if the person or organization agrees to buy from you
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Sales restrictions
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Cooling-off laws
Green River ordinances pg 92 |
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Managing sales ethics
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Follow the leader
Leader selection is important Establish a code of ethics Create ethical structures Encourage whistle-blowing Create an ethical sales climate Establish control systems pg 94 |
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Chapter 4 The Psychology of Selling: Why People Buy
Practical ( rational) Psychological ( emotional ) |
Some of a person’s thoughts can be determined.
Buyers consider certain factors in making purchase decisions. |
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FAB Selling technique
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Benefit - a result of an advantage, it can be practical and psychological, increase sales. Favorable result from advantage
Benefits are what people buy! Feature - Physical Characteristic Buyer thinks “So What?” Advantage - Performance Characteristic Buyer thinks “Prove It!” |
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Trial Close
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Whether the prospect likes your product’s features, advantages, or benefits
Whether you have successfully answered any objections Whether any objections remain Whether the prospect is ready for you to close the sale. |
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SELL Sequence
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S - Show feature - physical
E - Explain advantage - performance L - Lead into benefit - result of advantage L - Let customer talk - as opinion question |
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FAB Example
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This equipment is made of stainless steel (feature), which means it won’t rust (advantage). The real benefit is that it reduces your replacement costs, thus saving you money (benefit)! That’s what you’re interested in – right (trial close)?”
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Buyers style and buying decisions
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Thinker, Intuitor, feeler and sensor style
pg 126 - 131 |
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Chapter 5 Communication for Relationship Building
Communication |
Act of transmitting verbal and nonverbal information and understanding between the seller and buyer
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Basic 8 communication elements
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Source, encoding, message and medium, decoding, receiver and feedback pg 149
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Body Languages non verbal
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Body angle
Face Hands Arms Legs |
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Chapter 6 Sales Knowledge
Source of sales knowledge: |
Sales training
Experience |
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Sales Knowledge
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Knowledge increases a salesperson’s confidence
Knowledge increases a buyer’s confidence in salesperson More knowledge leads to more sales and more relationships |
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Product knowledge
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Performance data
Physical size and characteristics How the product operates Specific features, advantages, and benefits of the product How well the product is selling in the marketplace |
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Types of Advertising
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National advertising
Retail advertising Cooperative, or co-op, advertising Trade advertising Industrial advertising Direct-mail advertising Internet advertising Pg :187 |
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Sales promotion
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Consumer sales promotion
Trade sales promotion Point-of-purchase (POP) displays Shelf positioning Shelf facings Premiums Sales promotion on the Internet pg :188 |
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Personal productivity
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Contact management
Calendar management Automate sales plans, tactics, and tickets Geographic information system Computer-based presentations pg 193 |
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Technology Etiquette ( NETIQUETTE)
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Cell Phones
Voice Mail Faxes Speakerphones and Conference Calls |
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Chapter 7 (Prospecting )
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Prospect, Prospecting, and Lead
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Prospect
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qualified person
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Prospecting
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Identifies potential customer
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Lead
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only know name
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Qualified prospect
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Money to buy?
Authority to buy? Desire to buy? |
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Sales Prospecting Funnel
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All leads and prospects must be considered and filtered through the MAD process before they become qualified prospects
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The Referral Cycle
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Obtaining referrals is a continuous process without beginning or end
Referral cycle – when and how to ask for referrals The parallel referral sale Sell the product to person Obtain prospect name(s) from person |
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Call Reluctance
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not wanting to contact a prospect or customer.
Call reluctance keeps you from: Helping others Earning what you’re worth |
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Chapter 9
Presentation Method |
Completely and clearly explains all aspects of the salesperson’s proposition as it relates to a buyer’s needs.
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Sales Presentation Strategy
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Salesperson to buyer
Salesperson to buyer group Sales team to buyer group Conference selling Seminar selling |
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The Structure of Sales Presentations
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Memorized selling
Formula selling need satisfaction selling problem solution selling |
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Memorized selling
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Ensures the salesperson gives a well-planned presentation
Ensures all of the company’s salespeople discuss the same information Both aides and lends confidence to the inexperienced salesperson It is effective when: Selling time is short, as in door-to-door or telephone selling The product type is non-technical – such as books, cooking utensils, or cosmetics |
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Formula selling
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Are contacting similar prospects in similar situations
Know something about the prospect Have called on the prospect in the past Want to ensure all information is presented logically Want to have reasonable amount of buyer-seller interaction |
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Need Satisfaction selling
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Need a flexible, interactive sales presentation
Need to uncover needs by asking questions Need the prospect to talk about his needs Use this method the first time you call on a prospect Should you have to come back a second time, you would use the formula sales presentation method |
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Problem-Solution Selling
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Are selling highly complex or technical products
Are required to make several sales calls to develop a detailed in-depth analysis of a prospect’s needs Need a flexible, customized presentation based on findings |
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Negotiating styles
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Cooperative
Competitive Attitudinal Organizational Personal pg 291 |
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Chapter 10 ( Begin Your Presentation Strategically)
Approach |
The time from when the salesperson first sees the buyer to the beginning of the discussion of the product.
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The Approach
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Could last seconds or minutes and involves:
Meeting Greeting Rapport Building The 1st step in the sales presentation The 3rd step in the selling process |
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Objectives Of Using Question Approach Techniques
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Uncover needs and problems
Fulfill needs Solve problems Have prospect tell you about: Needs Problems Intention to do something about them |
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Remember, the product is not mentioned in SPIN
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Situation , Problem, Implication, Need payoff
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Four Question Categories
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1. Direct
2. Nondirective 3. Rephrasing 4. Redirect questions |
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Direct question
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Can be answered with a few words such as:
“Mr. Jones, is reducing manufacturing costs important to you?” “What kind?” “How many?” Never phrase as a direct negative or a question that can cut you off Example: “May I help you?” |
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non directive
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Begins with who, what, where, when, how, or why
“Who will use this product?” “What features are you looking for in a product like this?” Its purpose is to obtain unknown or additional information |
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The Rephrasing Question
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Is useful if you are unclear and need to clarify the meaning of something said
“Are you saying that price is the most important thing you are interested in?” “Then what you are saying is, if I can improve the delivery time, you would be interested in buying?” |
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The Redirect Question
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Used to change the direction of the conversation – often from a negative to a positive
Imagine you walk into a prospect’s office, introduce yourself, and get this response: “I’m sorry, but there is no use in talking. We are satisfied with our present suppliers. Thanks for coming by.” A redirect question would be: “Wouldn’t you agree that you continually need to find new ways to increase your company’s sales?” |
