Exam 3: Chapter 21 Personal Selling and Sales Management Vocab

Personal Selling

face-to-face (direct) selling where the seller and buyer interact personally

Sales Management

planning the selling program and implementing and evaluating the personal selling effort of the firm

Relationship Selling

building ties to customers based on salesperson’s attention and commitment to customer needs over time

• has to do with relationship management: learning about customers needs and wants and tailoring solutions to them

Order Taker

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

• goal is to preserve an ongoing relationship with existing customers and maintain sales

Outside Order Taker: visit customers and replenish inventory stocks of resellers (retailers + wholesalers)

Inside Order Taker: answer simple questions, take orders, and complete transactions with customers

Order Getter

sells in 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

• can be inside or outside

Team Selling

using an entire team of professionals in selling to and servicing major customers

• used when specialized knowledge is needed to satisfy the different interests of individuals in a customer buying center

Personal Selling Process

1. Prospecting

2. Preapproach

3. Approach

4. Presentation

5. Close

6. Follow-Up

Lead

person who may be a possible customer

Prospect

customer who wants or needs product

Qualified prospect

wants product, can afford to buy it, and is decision makor

Cold Calling

salesperson may open a directory, pick a name, and contact that individual or business

Need-Satisfaction Presentation Format

emphasizes probing and listening by the salesperson to identify the needs and interests of prospective buyers

• salesperson tailors presentation to the prospect and highlights benefits that they value

Adaptive Selling

adjusting presentation to fit the selling situation

• such as knowing when to offer solutions and when to ask for more information

Consultative Selling

focus on problem identification where salesperson serves as an expert on problem recognition and resolution

Upselling

introducing a higher-end product solution than the one in question

Cross-selling

proposing related or complementary products and services

Objections

excuses for not making a purchase commitment or decision

Geographic Sales Organization

divided into regions and each region is assigned salespeople with boundaries to call customers and represent all products sold by company

• not good for specialized knowledge

Customer Sales Organization

different salesforce calls on each separate type of buyer or marketing channel

Product Sales Organization

when specific knowledge is required to sell certain types of products

Customer Relationship Management (CRM)

software system that allows businesses to manage their customer interactions through data analysis

Salesforce Automation (SFA)

using various technologies to make the selling function more effective and efficient

• can track leads, customer information, sales performance, follow-ups, etc.

Marketing Automation

applies systems and technologies, including AI, to provide insights to salespeople

Customer Service and Support Automation

processes and technologies that supply customers with information about post sale activities

What is the most impactful driver of sales?

Compensation Structure!!!