Personal Selling Exam 1

promotion mix

A combination of advertising, personal selling, sales promotion, PR, and direct marketing.

marketing mix

The 4 Ps: Product, Price, Place, Promotion.

marketing definition

Process of creating, communicating, and delivering value to customers

professional selling definition

Personal communication to persuade customers to buy products/services.

selling and marketing overlap

Both focus on satisfying customer needs and driving revenue.

salesmen activities

What they do – Prospecting, presenting, negotiating, closing, and servicing accounts.

order takes

process repeat sales

order getters

actively pursue new customers

range of sales jobs

Includes retail, B2B, missionary, technical, and consultative selling.

types of sales jobs

Inside sales, outside sales, B2B, B2C, missionary, technical, consultative.

levels of moral development

 Preconventional, conventional, postconventional

categories of ethical dilemmas

Misrepresentation, bribery, confidentiality, and conflicts of interest.

creating an ethical work environment

codes of conduct, training, leadership by example, fair policies

misrepresentation

false claims about a product

sales puffery

exaggerated statements that are opinion, not fact

moonlighting

working for another employer without permission

reciprocity

requiring purchase in return for special deal

misusing company assets

using company property/resources for personal gain

classifying buying situations

new-task, modified rebuy, straight rebuy

organizational buying situations

Decisions made for a company’s needs rather than personal use.

organizational buying vs. consumer buying

buying centers- businesses use groups (initiator, influencer, buyer, decider, user, gatekeeper)

five step decision making model 

Problem recognition → Info search → Evaluation → Purchase → Post-purchase behavior.

influences on decision-making

Cultural, social, personal, psychological.

purchase (cognitive) dissonance

Buyer’s regret or second-guessing after a purchase.

features, advantages, benefits (FAB)

Feature = trait; Advantage = what it does; Benefit = why it matters to customer.

sell process

Show Feature, Explain Advantage, Lead into Benefit, Let customer talk

use of trial close

Testing buyer readiness during the sales presentation.

one way communication

sender to receiver 

two way communication

includes feedback

components of the communication process

sender, message, medium, receiver, feedback

noise and communication barriers

anything that distorts or blocks the message

feedback

Response from receiver to sender confirming understanding

verbal, nonverbal, and written communciation

Spoken, body language/facial cues, and written messages.

spatial elements of communication

Use of personal space and environment in interactions.

adapative selling

adjusting sales approach to match customers needs and behaviors 

types of knowledge needed by salespeople

product, market, customer, competitor, industry

use of advertising and sales promotion to support selling

builds awareness, generates leads, supports persuasion

forms of sales promotion

trade and consumer

trade (consumer and trade)

incentives for resellers

consumer (consumer and trade)

discounts, samples, coupons

qualifying MAD process

money, authority, desire

value of referrals

trusted recommendations increase conversion chances

referral chain

Endless Chain – Asking each customer for leads to expand prospects.

common methods of prospecting 

cold calling, sales lead clubs, centers of influence, networking, endless chain.

orphaned customers

Clients without a dedicated salesperson, often due to turnover

effectiviness of personal selling

builds relationships, tailored solutions, closes complex sales

cognitive dissonance (open ended)

buyers post-purchase uncertainty ex. buying a car 

Differences between B2C and B2B decision-making

B2C = emotional/personal; B2B = rational, group-based, larger stakes.

Missionary selling

Promoting product to influence other salespeople or intermediaries rather than direct sales.