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34 Cards in this Set
- Front
- Back
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CRM
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systematic approach process a salesperson can use for information
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Intrinsic rewards
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sense of accomplishment and personal growth
inherent to satisfaction from elements of job or role self |
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extrinsic rewards
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bestowed upon by the company
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Adaptive selling
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altering of sales behavior during a customer interaction from one situation to another based on information you gather about the nature of the situation
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Job enlargement
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role today is broader and contain substantially more activities
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Average cost of a sale
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rep perform many non-selling activities over a long period of time to successfully practice relationship selling.
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Retail selling
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selling to end-user customer for own personal use
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B2B
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more relationship selling is accounted for by this market
industrial selling sale of goods and service to buyers who are not the end users |
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B2B market involve 3 types of customers
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1. Sales to resellers
2. Sales to business users 3. Sales to institutions |
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Buying center
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represents all the people who participate in purchasing or influencing the purchase of a particular product
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Various people in buying process (7 categories)
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initiators
users influencers gatekeepers buyers deciders controllers |
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Initiators
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perceive the problem
start the buying process |
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Users
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must use or work with the product
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Influencers
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provide information for evaluating alternative products ans suppliers often play a major role in determining the specifications and criteria
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Gatekeepers
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control the information to the other people involved
--screens (secretaries) --filters (purchasing agent) |
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Decider
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final authority
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Controller
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determines the budget
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Perceived risk
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based on complexity of the product and situation
the relative importance of the purchase time and pressure to make decision degree on uncertainty about efficacy |
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Matrix organization
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collective expertise
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Organizational buying decision stages
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1. Anticipation or recognition of a problem or need
2. determination and description of the traits and quality of the needed items 3. search for qualification of potential suppliers 4. acquisition and analysis of proposals or bids 5. evaluation of proposals and selection of suppliers 6. Selection of an order routine 7. Performance evaluation and feedback |
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Derived demand
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needs are derived from the firms customers ' demand for the goods or services it products or markets
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Single-source suppliers
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give supplier first opportunity to bid on supplying new products
due to truest and familiarity minimize variations |
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Slotting allowances
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Ask vendors to cover the cost of internal activities needed by the organization to add to offering
have privilege to be in IT system, programed into inventory, and ultimately distributed in stores |
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New-task purchase
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buy relatively complex an expensive product for the first time
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Modified rebuy
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modify the product specs, prices, or other terms and will consider new suppliers to make changes
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Straight rebuy
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reordering an item he or she has purchased many times
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Repeat purchase
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much more routine than new purchase or mod rebuy
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CRM
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Customer Relationship Management
information gathering sell more effectively systematic manage the information needed to do successful relationship selling |
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More specifically CRM refers to...
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"any application or iniative designed to to help your company optimize interactions with customers, suppliers, or prospects via one or more touch points
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Touch points
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various means by which a firm has contact with its customers
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3 major objectives of CRM
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1. Customer retention
2. Customer acquisition 3. Customer profitability |
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CRM is best know as a process cycle
4 elements |
Knowledge discovery
market planning customer interaction analysis and refinement |
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Data warehouse
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optimal approach to handing data and turning it into useful information from developing customer centric strategies and programs
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Data mining techniques
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combine large amounts of data
learn about current and potential customers |
