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19 Cards in this Set

  • Front
  • Back
Personal Selling
1. person to person communication (with a prospect)
2. developing relationships
3. discovering needs
4. matching products with needs
5. communicating benefits
+ this process ADDS VALUE
Philosophy of Personal Selling
1. information is a strategic resource (salespeople are to decide what information has value and what should be ignored)
2. business is defined by customer relationships
3. sales success depends on +adding value
*involves: marketing concept, value selling, and the assumption of the role of problem solver
What are the contributions of personal selling to the information age?
shift from industrial (manufacturing/transportation) to information economy)
1. emphasis on information exchange (information is a strategic resource, not capital or natural resources)
2. business is defined by customer relationships, not products/factories
3. sales success depends on +adding value, not meeting sales quotas
Personal Selling (via the Marketing Concept)
- Marketing Concept: achieving organizational goals depends on 1) knowing the needs/wants of target markets, and 2) delivering the desired products
- In order to get sales/profits there should focus on the customer and providing value
- 4P's: Product, Price, Place, Promotion
The importance of Personal Selling
1. major promotional method
2. firms invest in personal selling
3. evolved because products are more complex, there is greater competition, and customers demand quality products
4. salespeople were in an ideal position to gather important information about buyers' needs.
Consultative Selling
:from marketing concept, emphasizing need identification
1. mass markets break into target markets
2. emphasis on need identification
3. focus on two way communication, information sharing, negotiation, and service after sale; not manipulation (must listen to the consumers needs)
4. customer is a person to be served, not a prospect to be sold
Transactional Selling
:the buyer is primarily interested in price and connivence
Strategic Selling
:outlines necessary methods and resources
1. market niches require more planning
2. emphasis on strategy and tactics
3. product positioning is vital
Strategy
conceived plan needed to accomplish sales objectives
Tactics
specific techniques, practices and methods used in customer interaction
Strategic/Consultative Selling Models
1. Relationship
2. Product
3. Presentation
4. Customer
*relationship, product, and customer strategies affect presentation strategy
Relationship Strategy
1. win/win philosophy
2. project a professional image
3. maintain high ethical standards
*develop a long lasting mutually satisfying buyer-seller relationship
Product Strategy
1. become product expert
2. sell benefits, not features
3. configure value-added solutions
*help salespeople make correct decisions on positioning of products to meet customer needs.
Presentation Strategy
1. prepare objectives
2. prepare and develop presentation plan
3. provide outstanding service
Customer Strategy
1. understand buying process
2. understand buyer behavior
3. develop prospect base (salespeople must learn as much as possible about prospects)
*develop a plan that results in maximum responsiveness to customer needs
Partnering
:strategically develop, long term relationships that solve the customers problems
benefits include:
1. barriers to competing sales people
2. more repeat business and referrals
3. more cost effective to keep existing customers than to develop new ones
Strategic Alliance
formed by companies that have similar business interests, thus gaining a mutual competitive advantage
Value Added Selling
:creative improvements that enhance customer experience
1. information economy rewards salespeople who add value at each step
2. when customer isn't aware of the value added, focus shifts to price
Customer Value Model
1. understanding customer's valued needs
2. creative the value proposition
3. communicating the value proposition
4. delivering the value proposition