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Personal Selling
company representative interacts directly with a customer to present info about a product or service
4 P’s of Marketing
Product, Price, Place, Promotion
Developments affecting selling
advances in information technology, ecommerce, strategic resource is info, business is defined by customer relationships sales success depends on creating/adding value
ABC’s
attunement, buoyancy, clarity
Non-sales selling
persuading, influencing and convincing others in ways that don’t involve anyone making a purchase
Inside salespeople
perform selling activities at the employer’s location or remotely
Outside salespeople
travel to meet prospects and customers in person at their place of business
Psychic income
psychological rewards helps satisfy needs and motivates people to achieve higher performance
Field salespeople
interact with new customers and current customers
Knowledge workers
individuals whose work effort is centers around creating, using, sharing and applying knowledge
4 key groups of knowledge workers
managerial personnel, professionals, entrepreneurs and SBOs, marketing
Information economy
emphasis shift from industrial activity to information processing
Marketing concept
achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired product
Consultive/strategic selling
emphasizes need identification which is achieved through effective communication between salesperson and customer
Consultive salespeople solve problems by
listening, defining the customer’s problem, collaborating on solutions
Emotional Intelligence (EI/EQ)
capacity for monitoring our own feelings and those of others
Key elements of EI in sales
Self-awareness
Self-confidence
Trustworthiness
Adaptability
Initiative
Optimism
Empathy
Social skills
Why is EI important
greater predictor of success in business and leadership
Top qualities of leaders
create, manage, motivate, build and coach
3 C’s of EI
consciousness, confidence, compassion
Business ethics
the principles and standards that guide behavior in the business world
key influences on partner relationships
character, integrity
Character
personal standards such as honesty and moral strength. Based on internal values and the resulting judgements you make about right and wrong
Integrity
congruence between what you know, what you say, and what you do
What is the most important precondition of partnering relationships?
trust
Value-added selling
a series of creative improvements in the sales process that enhance the customer experience
Partnering
strategically developed, high-quality, long-term relationship that focuses on solving the customer’s buying problem
3 keys to partnering relationship
Shared values
Understanding of purpose and committed to the vision
Salesperson must move from selling to supporting
Key groups for relationship strategies
Customers
Secondary decision makers
Company support staff
Management personnel
Self-concept
bundle of facts, opinions, beliefs, and perceptions about yourself that are present in your life every moment of every day
Win-win philosophy
both buyer and seller come out of the sale understanding that their best interests have been served
Ego-drive
an inner force that makes the salesperson want and need to make the sale
Nonverbal messages
“messages without words” or “silent messages” that we communicate through facial expressions, voice tone, gestures, etc.
Platinum Rule
Do unto others as the want done unto them
Communication style
pattern of behavior that others observe
Adaptive selling
altering sales behaviors in order to improve communication with the customer
Communication style bias
when we have contacted with another person whose communication style is different from our own
Dominance
tendency to control or prevail over others
Sociability
amount of control we exert over our emotional expressiveness
Emotive
•Appear quite active
•Take social initiative
•Encourage informality
•Express emotional opinions
Upper right quadrant
Directive
•Appears to be quite busy
•May give impression of not listening
•Displays a serious attitude
•Likes to maintain control
Lower right quadrant
Reflective
•Controls emotional expression
•Displays a preference
for orderliness
•Tends to express measured opinions
•Seems difficult to get to know
Lower left quadrant
Supportive
•Appearance of being quiet
•Listens attentively to other people
•Tends to avoid use of power
•Makes decisions in a thoughtful and deliberate manner
Upper left quadrant
Versatility
a salesperson's ability to minimize communication style bias
Style flexing
the deliberate attempt to adapt one’s communication style to accommodate the needs of the other person
Zone 1
less intensity
Zone 2
higher intensity
Excess zone
highest intensity and rigidity
Today’s customers
internet empowered and aggressive
Customer strategy
a carefully conceived plan that results in understanding the customer’s perceptions and maximizing customer satisfactions and responsiveness
Consultive process buyer
focus on needs awareness and evaluate solutions
5 w’s
why should I buy? what should I buy? where should I buy? what is a fair price? when should I buy?
Buying process model
strategic initiatives identified, need awareness, evaluation of solutions, resolution of problems, purchase, implementation
Group influences that affect buying
roles, reference groups, social class, culture and subculture
Lead generation
blends sales and marketing to attract people to a brand and what it offers. goals: nurture interests, convert to paying customers
Customer journey
all the interactions that take place between a business and a customer as the latter moves through the funnel
Sales funnel
the path your prospects take to become a customer. It describes discrete stages of the customer journey, from first touch to closed deal
Lead
someone who may be interested in your brand and its offerings but who hasn't yet been qualified
Prospect
a lead who matches your ideal customer profile and who has been qualified as a good fit for making a purchase
Benefit of lead gen
growth
Product
information, services, ideas, tangible products, or some combination of these that satisfy the customer’s needs with the right solution
Product strategy
well-conceived plan that emphasizes becoming a product expert, selling specific benefits, and configuring value-added solutions
Solution
a mutually shared answer to a recognized customer problem
Sales solution process
uncover and clarify problem, work with customer to create better vision, collaborate to develop implementation of plan
Product configuration
the salesperson may develop a custom-fitted solution that brings together different parts of the marketing mix
Sources of info
web, plant tours, sales support team, using the products, read and study
Feature
data, facts, and characteristics of a product or service
Advantage
what the features do better than the competition
Benefits
whatever provides a customer with a personal advantage or gain
Positioning
decisions and activities intended to create and maintain a certain concept of the product in the customer’s mind
differentiation
refers to your ability to separate yourself, your product, and/or your company from that of your competitors
value proposition
the set of benefits and values the salesperson configures to meet and exceed customers’ specific needs
Dimensions of quality service
tangibles, reliability, responsiveness, assurance, empathy
Buying center/team
involved in making purchase decision