MKTG Chapter 21 Personal Selling and Sales Management (copy)

Personal selling

The two-way flow of communication between a buyer and seller, often in a face-to-face encounter, designed to influence a person’s or group’s purchase decision.

Sales Management

 Planning the selling program and implementing and evaluating the personal selling effort of the firm.

Relationship selling

The practice of building ties to customers based on a salesperson’s attention and commitment to customer needs over time.

Partnership selling

is the practice whereby buyers and sellers combine their expertise and resources to create customized solutions, commit to joint planning, and share customer, competitive, and company information for their mutual benefit, and, ultimately, the benefit of the customer. Also called enterprise selling.

Order taker

Processes routine orders or reorders for products that were already sold by the company.

Order getter

Sells in a conventional sense and identifies prospective customers, provides customers with information, persuades customers to buy, closes sales, and follows up on customers’ use of a product or service.

Personal selling process definition

Sales activities occurring before, during, and after the sale itself, consisting of six stages: (1) prospecting, (2) preapproach, (3) approach, (4) presentation, (5) close, and (6) follow-up.

1. prospecting

2. pre-approach

3. approach

4. presentation

5. close

6. follow up

What is the order of the personal selling process?

search for quality and prospects

What happens in the first stage of the personal selling process

gather information and decide how to approach the prospect

What happens in the second stage of the personal selling process

gain a prospects attention, stimulate interest, and make transition to the presentation

what happens in the third stage of the personal selling process?

begin converting a prospect into a customer by creating a desire for the product or service

what happens in the fourth stage of the personal selling process

obtain a purchase commitment from the prospect and create a customer

what happens in the fifth stage of the personal selling process

ensure that the customer is satisfied with the product or service

what happens in the sixth stage of the personal selling process

prospecting

what is the first stage in the personal selling process

preapproach

what is the second stage in the personal selling process

approach

what is the third stage in the personal selling process

presentation

what is the fourth stage in the personal selling process

close

what is the fifth stage in the personal selling process

follow up

what is the sixth stage in the personal selling process

1. Stimulus-response presentation

2. Formula selling presentation

3. Need-satisfaction presentation

what are the types of presentations

Stimulus-response presentation

is a sales presentation format that assumes that given the appropriate stimulus by a salesperson, the prospect will buy

• Suggestive selling: “Do you want xx with your order?”

Formula selling presentation

 is a sales presentation format that consists of information that must be provided in an accurate, thorough, and step-by-step manner to inform the prospect

• Canned sales presentation of standardized message

Need-satisfaction presentation

 is a sales presentation format that emphasizes probing and listening by the salesperson to identify needs and interests of prospective buyers.

• Listening to identify the needs and interest of buyer
  

Objections

are excuses for not making a purchase commitment or decision

What are the 3 closing techniques

1. trial close

2. assumptive close

3. urgency close

Trial close

involves asking the prospect to make a decision on some aspect of the purchase

“Would you prefer the blue or gray model?”

What is an example of a trial close

Assumptive close

entails asking the prospect to consider choices concerning delivery, warranty, or financing terms under the assumption that a sale has been finalized

closing with a summary of what was talked about during the pitch

What is an example of an assumptive close

Urgency close

is used to commit the prospect quickly by making reference to the timeliness of the purchase

“That was the last model we have in stock”

What is an example of an urgency close

What are the salesforce structures

• Geography- uses regions, simplest structure

• Customer- used for different markets and buyers

• Products- specific expertise is needed

Salesforce automation (SFA)

The use of various technologies to make the sales function more effective and efficient.

Marketing automation

• applies systems and technology

• provides intelligence to salesforce

• identifies qualified prospects

• provides sales support

• tracks customer buying

• identifies new opportunities

order getter

What requires having more knowledge

lead

possible customer

Prospect

someone who wants or needs the product

Qualified prospect

someone who wants or needs the product and is the decision maker

Formula Sales presentation example

canned sales presentation