Selling Chapter 1

Front 1

Value

Back 1

represents the net bundle of benefits the customer derives from a product you are selling

Front 2

Value proposition

Back 2

refers to the value from your product or service

Front 3

Customer loyalty

Back 3

giving customers many reasons not to switch to competitors

Front 4

Relationship selling

Back 4

central goal is securing, building, and maintaining long-term relationships with profitable customers

Front 5

Sales Management

Back 5

the way the various aspects of relationship selling are managed by the salesperson's firm

Front 6

CRM

Back 6

Customer relationship management - organization wide customer focus that uses advanced technology to maximize the firm's ability to add value to customers and develop long-term relationships

Front 7

Customer centric

Back 7

put customer at center of everything that happens inside and out side the firm

Front 8

Customer orientation

Back 8

1. Instill an organization wide focus on understanding customers' requirements
2.Generate and understanding of the marketplace and disseminate that knowledge to everyone in the firm
3. Align systems capabilities internally so that the organization responds effectively with innovative, completely differentiated, satisfaction-generating products and services

Front 9

Customer Mindset

Back 9

a salespersons belief that understanding ans satisfying customer whether internal or external to the organization is central to do his or her job

Front 10

Return on customer investment

Back 10

ratio calculated on of how much time, money, and other resources should be invested in a particular customer versus the anticipated return on that investment

Front 11

Liftetime value of a customer

Back 11

customers long term value to the sales organization

Front 12

Transactional selling

Back 12

a organization that gives little consideration to providing value to build relationships

Front 13

Consultative selling

Back 13

Provide additional benefits or value beyond the price paid

creating new value and providing additional benefits above and beyond expectations.
grasp of our memebers issues and challenges.
Through mutual investment of time and effort from our inrtustors and members we gained understanding.


1. Our creativity helps us understand your problems . issues, and opportunities in new and differnt ways
2. You can always expect something new and better solutions coming from the staff at 4.0
3. Ensure you will get allocated time and get a customized or unique solution to your needs

Front 14

Enterprise selling

Back 14

is a set of skills, strategies, and processes that work most effecitievly with startegically improtant customers who demand an extrodinary level of value creation from key supplier

Front 15

Value added selling

Back 15

relationship selling works to add vale through all possible means and changes the sales process

Front 16

Ethics

Back 16

moral principles and standards that guide behavior

Front 17

Prospects

Back 17

set of potential customers
identified as very likely future customers

Front 18

Persuasive communication

Back 18

Convince someone to do something

Front 19

Solution selling

Back 19

primary role is to move the buyer toward visualization of a solution to his or her problem (need)

Front 20

Objections

Back 20

simply a concern that your product offering (solution) does not fully meet the buyer's need.

Front 21

Follow up

Back 21

service after sale

Front 22

Autonomy

Back 22

degree of independence to make his or her own decisions in the day-to-day operation

Front 23

MOtivation

Back 23

individuals choice to initiate an action
expend a certain amount of effort on that task
persist in expending the effort over the period of time

Front 24

Effort

Back 24

expend on activity or task associated with the job

Front 25

Expentancy theory

Back 25

estimate of the probability that expending the effort on the task will lead to improvement and rewards

Front 26

Expectancy Theory

Back 26

holds that a salesperson's estimate of probability that expecting effort on a task will lead to improved performance and rewards.

Front 27

Key success factors

Back 27

in relationship selling is the first step in recuriting and selecting new salespeople. The various skills amd knowledge components required to successfully perform the sale role.

Front 28

Training

Back 28

focuses on developing specific skills and knowledge sets needed

Front 29

Development

Back 29

providing long-term road map or career track for a sales person so he or she can realize professional goals.

Front 30

Incentives

Back 30

variety of financial and non financial rewards

Front 31

Compensation

Back 31

monetary rewards

Front 32

Internal environment

Back 32

organizational environment

Front 33

External environment

Back 33

or macroenvironment
issues outside control of organization

Front 34

Corporate culture

Back 34

well-defined mission, driven by top managment's values and beliefs
help to determine plans, policies, and procedures

Front 35

6 broad categories of internal envrionment

Back 35

goals
objectives and culture
HR
financial resources
production and supply chain
service capabilities
R&D and technology

Front 36

5 extrenal environment catgeories

Back 36

economic
legal-political
technological
social-cultural
natural

Front 37

Demarketing

Back 37

during periods of shortage
part or all product line
sales force helps admin rationing program and allocation