FME Final Exam Preparation

Buyer's Decision Process

Awareness, Information, Preference, Purchase, Post-Purchase Reassurance

What is the Marketing Process

Understand needs/wants, design marketing strategy, execute integrated marketing program, build relationships, capture value

4Ps of Marketing

Product, Price, Place, Promotion

What is Marketing?

the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value

4 Steps to Overcoming Objections

Listen, Understand, Respond, Confirm

What is personal selling

Face-to-face sales presentation offering help through a product that emphasizes relationship building.

7 Steps to Personal Selling

Sales Guide & Training, Prospecting & Qualifying, Approaching, Sales Presentation, Objection Handling, Closing the Deal, Following Up

7 Steps to Sales

Prospecting, Qualification, Presentation, Handling Objections, Closing the Deal, Follow-Up, Build Long-Term Relationships.

Operations

Process of converting inputs to outputs

Effectiveness

Doing the right things

Efficiency

Doing things right

SCRATCH Test

Spelling, Copycat, Random, Annoying, Tame, Curse of Knowledge, Hard to Pronounce

SMILE Test

Simple, Meaningful, Imagery, Legs, Emotional

Types of Objections

Money, Urgency/Time, Trust, Need