Key Concepts in Personal Selling and Marketing Strategies

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Personal Selling

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Personal presentations by the firm's sales force for the purpose of engaging customers, making sales, and building customer relations

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Salesperson

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An individual who represents a company to customers by performing one or more of the following activities: prospecting, communicating, selling, servicing, information gathering, and relationship building

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71 Terms

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Personal Selling

Personal presentations by the firm's sales force for the purpose of engaging customers, making sales, and building customer relations

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Salesperson

An individual who represents a company to customers by performing one or more of the following activities: prospecting, communicating, selling, servicing, information gathering, and relationship building

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Sales Force Management

Analyzing, planning, implementing, and controlling sales force activities

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Territorial Sales Force Structure

A sales force organization that assigns each salesperson to an exclusive geographic territory in which that salesperson sells the company's full line

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Product Sales Force Structure

A sales force organization in which salespeople specialize in selling only a portion of the company's products or lines

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Customer (or Market) Sales Force Structure

A sales force organization in which salespeople specialize in selling only to certain customers or industries

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Outside Sales Force (or Field Sales Force)

Salespeople who travel to call on customers in the field

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Inside Sales Force

Salespeople who conduct business from their offices via telephone, online social media interactions, or visits from prospective buyers

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Team Selling

Using teams of people from sales, marketing, engineering, finance, technical support, and even upper management to service large, complex accounts

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Sales Quota

A standard that states the amount a salesperson should sell and how sales should be divided among the company's products

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Social Selling

Using digital platforms and sales tools to engage customers, build stronger customer relationships, and augment sales performance

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Selling Process

The steps that salespeople follow when selling, which include prospecting and qualifying, preapproach, approach, presentation and demonstration, handling objections, closing, and follow-up

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Prospecting

The sales step in which a salesperson or company identifies qualified potential customers

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Preapproach

The sales step in which a salesperson learns as much as possible about a prospective customer before making a sales call

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Approach

The sales step in which a person meets the customer for the first time

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Presentation

The sales step in which a salesperson tells the "value story" to the buyer, showing how the company's offer solves the customer's problems

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Handling Objections

The sales step in which a salesperson seeks out, clarifies, and overcomes any customer objections to buying

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Closing

The sales step in which a salesperson asks the customer for an order

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Follow-Up

The sales step in which a salesperson follows up after the sale to ensure customer satisfaction and repeat business

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Sales Promotion

Short-term incentives to encourage the purchase or sale of a product or a service

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Consumer Promotions

Sales promotion tools used to boost short-term customer buying and engagement or enhance long-term customer relationships

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Event Marketing (or Event Sponsorships)

Creating a brand-marketing event or service as a sole or participating sponsor of events created by others

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Trade Promotions

Sales promotion tools used to persuade resellers to carry a brand, give it shelf space, and promote it in advertising

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Business Promotions

Sales promotion tools used to generate business leads, stimulate purchases, reward customers, and motivate salespeople

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Digital Marketing

The use of technology-intensive platforms such as the internet, mobile networks, devices, and social media to engage directly with carefully targeted individual consumers, consumer communities, and businesses

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Digital Consumer Personas

Detailed, nuanced, and tangible representations of prototypical consumers to be targeted by the digital marketing campaign

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Consumer Omni-Channel Navigation Behavior

The consumer's use of multiple marketing channels, both digital and non-digital, across stages of the consumer buying decision process

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Online Marketing

Marketing via the internet using company websites, online ads and promotions, email, online video, and blogs

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Marketing Website

A website that engages consumers to move them closer to a direct purchase or other marketing outcome

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Brand Community Website

A website that presents brand-related content that engages consumers and creates a customer community around a brand

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Online Advertising

Advertising that appears while consumers are navigating websites or other digital platforms, including display ads and search-related ads

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Online Display Ads

Digital ads that appear anywhere on an internet or mobile user's screen and are often related to the information being viewed

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Search-Related Ads

Text and image-based ads and links appear atop or alongside search engine results on sites such as Google, Yahoo!, and Bing.

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Email Marketing

Sending highly targeted, highly personalized, relationship-building marketing messages via email

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Spam

Unsolicited, unwanted commercial email messages

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Viral Marketing

The digital version of word-of-mouth marketing: videos, ads, and other marketing content that are so engaging and infectious that consumers will seek them out and pass them along to friends

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Blogs

Online forums where people and companies post their thoughts and other content, usually related to narrowly defined topics

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Social Media

Independent and commercial online social networks where people congregate to socialize and share messages, opinions, pictures, videos, and other content

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Mobile Marketing

Marketing messages, promotions, and other content delivered to on-the-go consumers through their mobile devices

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Omni-Channel Marketing

Creating a seamless cross-channel buying experience that integrates in-store, online, and mobile shopping

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Global Marketing

The full process of marketing products and services within and across multiple countries

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Global Company

A company that, by operating in more than one country, gains marketing, production, research and development (R&D), and financial advantages that are not available to purely domestic competitors

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Economic Community

A group of nations organized to work toward shared global trade and other goals

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Exporting

Entering foreign markets by selling goods produced in the company's home country, often with little or no modification

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Joint Venturing

Entering foreign markets by joining with foreign companies to produce or market a product or service

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Licensing

Entering foreign markets by developing an agreement with an entity in the foreign market to use the company's brand, trademark, patent, trade secret, manufacturing process, or some other item of value in return for some payment

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Contract Manufacturing

A joint venture in which a company contracts with manufacturers in a foreign market to produce its product or provide its service

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Management Contracting

A joint venture in which the domestic company supplies the management know-how to a foreign company that supplies the capital; the domestic company exports management services rather than products

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Joint Ownership

A cooperative venture in which a company creates a local business with investors in a foreign market who share ownership and control

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Direct Investment

Entering a foreign market by developing foreign-based assembly or manufacturing facilities

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Standardized Global Marketing

A global marketing strategy that basically uses the same marketing strategy and mix in all of the company's global markets

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Adapted Global Marketing

A global marketing approach that adjusts the marketing strategy and mix elements to each global target market, which increases costs but hopefully yields larger market shares and financial returns

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Straight Product Extension

Marketing a product in a foreign market without making any changes to the product or its positioning and communication

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Product Adaptation

Adapting a product to meet local conditions or wants in foreign markets, but without significantly changing the positioning and communication associated with it

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Product Invention

Creating new products or services for foreign markets

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Communication Adaptation

A global communication strategy of fully adapting advertising messages to local markets

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Whole-Channel View

Designing global channels that consider the entire global supply chain and marketing channel, forging an effective global value delivery network

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Sustainable Marketing

Socially and environmentally responsible marketing that meets the present needs of consumers and businesses while also preserving or enhancing the ability of future generations to meet their needs

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Consumerism

An organized movement of citizens and government agencies designed to improve the rights and power of buyers in relation to sellers

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Environmentalism

An organized movement of concerned citizens, businesses, and government agencies designed to protect and improve people's current and future living environment

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Carbon Footprint

A term that captures the total negative Carbon Dioxide Equivalent impact associated with a product or service

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Environmental Sustainability

A management approach that involves developing strategies that both sustain the environment and produce profits for the company

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Ethical Marketing

Applying high standards of ethics and morality when making marketing decisions

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Consumer-Centric Marketing

A company should view and organize its marketing activities from the customer's point of view to sense, serve, and satisfy customer needs, now and in the future

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Consumer Value-Building Marketing

A company should put most of its resources into long-term consumer value-building marketing investments.

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Sense-of-Mission Marketing

A company should define its mission in broad social terms rather than narrow product terms.

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Deficient Products

Products that have neither immediate appeal nor long-run benefits

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Pleasing Products

Products that give high immediate satisfaction but may hurt consumers in the long run

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Salutary Products

Products that have low immediate appeal but may benefit consumers in the long run

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Desirable Products

Products that give both high immediate satisfaction and high long-run benefits

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Sustainable Company

A company that creates value for customers through socially, environmentally, and ethically responsible actions