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10 Cards in this Set
- Front
- Back
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Personal Selling |
paid personal communication that attempts to inform customers and persuade them. Use for: cars |
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6 general steps in the personal selling process |
1. prospecting: identify potential buyers 2. Preapproach: research prospects 3. Get to know them 4. Making the presentation: be professional 5. Overcoming objections: anticipate why they might say no 6. Closing the sale: ask for the buy 7. Follow up |
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Sales Promotion |
The use of incentive techniques that create a perception of greater brand value among consumers, the trade, and business buyers |
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What is the intent of sales promotion? |
Create a short-term increase in sales. Stimulate demand. Move goods quickly. |
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3 components of stimulating demand |
extra incentive price-value relationship limited time offer |
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Limited Time Factor |
Why sales promotions work. Reactance theory. Customers have freedom, the freedom is taken away, then they want it more. |
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Why should one switch from advertising to sales promotion? |
Demand for greater accountability. Proliferation of brands. Increased power of retailers. |
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Strengths of sales promotion |
-Stimulate demand -Flexibility -Motivates |
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Weaknesses |
-clutter -classical conditioning -forward buying -promo wars -easily duplicated -waste |
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What is classical conditioning? |
Consumer will wait to buy your product because they are expecting the sale to come eventually. They will only respond to deals. |
