Sales Communication Exam 2 Book vocab words

Challenger sales system

 is a selling philosophy where a salesperson controls the sale, builds constructive tension and tailors the message to the cusomer.

Four A’s

(acknowledge, acquire, advise, and assure)

impression management

Activities in which salespeople engage to affect and manage the buyer’s impression of them.

Walking pitch

salespeople can engage in a very short talk that takes place totally while walking

Halo effect

how and what you do in one thing changes a person’s perceptions of other things you do

opening

 is a method designed to get the prospect’s attention and interest quickly and to make a smooth transition into the next part of the presentation many different types of opening

Rapport

Close, harmonious relationship founded on mutual trust.

ice breakers or small talk

Light, informal conversation about current news, hobbies, mutual friends, and the like that usually breaks the ice for the actual presentation

office scanning:

 looking around the prospect’s environment for relevant topics to talk about

Open questions

require the prospect to go beyond a simple yes–no response

Closed questions

require the prospect to simply answer yes or no or to offer a short, fill-in-the-blank type of response

SPIN

 situation questions, problem questions, implication questions, and need payoff question

major sale

one that involves a long selling cycle, a large customer commitment, an ongoing relationship, and large risks for the prospect if a bad decision is made

 situation questions

 which are general data-gathering questions about background and current facts

problem questions

When salespeople ask about specific difficulties, problems, or dissatisfactions the prospect has

 implication questions

Questions that logically follow one or more problem questions and are designed to help the prospect recognize the true ramifications of the problem

need payoff questions

When salespeople ask questions about the usefulness of solving a problem

feature dumping

Talking about lots of features of little interest to the customer is a waste of time

A feature

a quality or characteristic of the product or service

A benefit

is the way in which a specific feature will help a particular buyer and is tied directly to the buying motives of the prospect.

the customer benefit proposition

The way in which a salesperson shows how a product addresses the buyer’s specific needs

FAB

has salespeople discussing features, advantages (why that feature would be important to anyone), and benefit

FEBA

(features, evidence, benefits, agreement), salespeople mention the feature, provide evidence that the feature actually exists, explain the benefit (why that feature is important to the buyer), and then ask whether the buyer agrees with the value of the feature and benefits

selective perception

Often we hear only what we want to hear.

analysis paralysis

When a salesperson prefers to spend practically all his or her time analyzing the situation and gathering information instead of making sales calls.

barriers

Buyer’s subordinates who plan and schedule interviews for their superiors; also called screens.

customer value proposition (CVP)

The way in which a salesperson’s product or service will meet the prospect’s needs and how that is different from the offerings of competitors, especially the next-best alternative.

focus of dissatisfaction

The person in the organization who is most likely to perceive problems and dissatisfactions; leads to the focus of power.

focus of power

The person in the organization who can approve, prevent, or influence action.

focus of receptivity

The person in the organization who will listen receptively and provide a seller with valuable information; leads to the focus of dissatisfaction.

influential adversaries

Individuals in the buyer’s organization who carry great influence and are opposed to the salesperson’s product or service.

minimum call objective

The minimum that a salesperson hopes to accomplish in an upcoming sales call.

optimistic call objective

The most optimistic outcome the salesperson thinks could occur in a given sales call.

primary call objective

Actual goal the salesperson hopes to achieve in an upcoming sales call.

sales portals

Online databases that include in one place many sources of information that the salesperson might need. Includes items such as account data, competitor intelligence, and news about the industry, the company, and the economy.

secondary call objectives

Goals a salesperson hopes to achieve during a sales call that have somewhat less priority than the primary call objective.

seeding

Sending the customer information that could be useful to the customer, but this does not include sales-related information such as pricing, brochures, and so on.

selling center

A team that consists of all people in the selling organization who participate in a selling opportunity.

videoconferencing

Meetings in which people are not physically present in one location but are connected via voice and video.

virtual sales call or webcasting

Videoconferencing in which the meeting is broadcast over the Internet.

adaptive selling

The development of alternative paths to the same goal in a negotiation session.

adaptive selling

amiable

Category in the social style matrix; describes people who like cooperation and close relationships. Amiables are low on assertiveness and high on responsiveness.

analytical

Category in the social style matrix; describes people who emphasize facts and logic. Analyticals are low on assertiveness and responsiveness.

assertiveness

Dimension of the social style matrix that assesses the degree to which people have opinions on issues and publicly make their positions clear to others.

customized presentation

Presentation developed from a detailed and comprehensive analysis or survey of the prospect’s needs that is not canned or memorized in any fashion.

diagnostic feedback

Information given to a salesperson indicating how he or she is performing.

drivers

Category in the social style matrix; describes task-oriented people who are high on assertiveness and low on responsiveness.

expressive

Category in the social style matrix; describes people who are both competitive and approachable. They are high on assertiveness and responsiveness.

outlined presentation

Systematically arranged presentation that outlines the most important sales points. Often includes the necessary steps for determining the prospect’s needs and for building goodwill at the close of the sale.

performance feedback

A type of feedback that salespeople often get from their supervisors that focuses on the seller’s actual performance during a sales call.

responsiveness

The degree to which people react emotionally when they are in social situations. One of the two dimensions in the social style matrix.

social style matrix

Method for classifying customers based on their preferred communication style. The two dimensions used to classify customers are assertiveness and responsiveness.

standard memorized presentation

Carefully prepared sales story that includes all the key selling points arranged in the most effective order; often called a canned sales presentation.

style flexing

Adjusting your behavior to mirror or match that of your customer.

versatility

A characteristic, associated with the social style matrix, of people who increase the productivity of social relationships by adjusting to the needs of the other party.

automatic replenishment (AR)

A form of just-in-time inventory management where the vendor manages the customer’s inventory, and automatically ships and stocks products at the customer’s location based on mutually agreed-upon standards.

collateral

Collection of documents that are designed to generate sales, and include such items as brochures, sales flyers and fact sheets, and short success stories.

comparative cost–benefit analysis

A comparison of the buyer’s current situation’s costs with the value of the seller’s proposed solution. Can also be a comparison of the seller’s product with a competitor’s product.

competitive tenders

Also called formal bidding and formal competitive bidding, a competitive bidding process whereby buyers lay out the requirements with objective criteria, and sellers compete with one another and bid for the business.

customer value proposition (CVP)

The way in which a salesperson’s product or service will meet the prospect’s needs and how that is different from the offerings of competitors, especially the next-best alternative.

digital collateral management system

System that archives, catalogs, and retrieves digital media and text. Used by salespeople to create presentations.

document camera

Camera similar to a traditional overhead projector in its ability to display transparencies. However, because it is essentially a camera, it is also capable of displaying any three-dimensional object without the use of a transparency. Also called visual presenter.

efficient consumer response (ECR) system

Distribution system that drives inventory to the lowest possible levels, increases the frequency of shipping, and automates ordering and inventory control processes without the problems of stockouts and higher costs.

electronic data interchange (EDI)

Computer-to-computer linkages between suppliers and buyers for information sharing about sales, production, shipment, and receipt of products.

electronic whiteboard

A digital version of an easel.

executive briefing center

Presentation room set aside to highlight a company’s products and capabilities.

executive summary

In a written proposal, a summary of one page or less that briefly describes the total cost minus total savings, the problem to be solved, and the proposed solution.

handouts

Written documents provided to buyers before, during, or after a meeting to help them remember what was said.

inventory turnover

Measure of how efficiently a retailer manages inventory; calculated by dividing net sales by inventory.

multiple-sense appeals

Method of attracting as many of the senses (hearing, sight, touch, taste, and smell) as possible.

net present value (NPV)

The investment minus the net value today of future cash inflows (discounted back to their present value today at the firm’s cost of capital).

opportunity cost

The return a buyer would have earned from a different use of the same investment capital.

payback period

Length of time it takes for the investment cash outflows to be returned in the form of cash inflows or savings.

portfolio

Collection of visual aids that can be used to enhance communication during a sales call.

profit margin

The net profit the reseller makes, expressed as a percentage of sales. Also called margin.

quantifying the solution

Showing the prospect that the cost of the proposal is offset by added value. See also value analysis.

quick-response (QR) system

System of minimizing order quantities to the lowest level possible while increasing the speed of delivery to drive inventory turnover; accomplished by prepackaging certain combinations of products.

request for proposal (RFP)

Statement issued by a potential buyer desiring bids from several potential vendors for a product. RFPs often include specifications for the product, desired payment terms, and other information helpful to the bidder. Also called request for bids or request for quotes.

return on investment (ROI)

Net profits (or savings) expected from a given investment, expressed as a percentage of the investment.

reverse auction

A method of product procurement whereby an opening price is set by the buyer, and then sellers try to win the bidding competition by offering increasingly lower prices

reverse demonstration

Before a salesperson demonstrates their product, they have the buyer demonstrate the current product the buyer has. The purpose is to learn more about what the buyer likes and dislikes about the current product.

sales asset management system

System that archives, catalogs, and retrieves digital media and text. Used by salespeople to create presentations.

simple cost–benefit analysis

Simple listing of the costs and savings that a buyer can expect from an investment.

testimonial

Statement, usually in the form of a letter, written by a satisfied customer about a product or service.

value analysis

Problem-solving approach for reducing the cost of a product while providing the same level of performance. See also quantifying the solution.

acknowledge method

Responding to an objection by letting the buyer talk, acknowledging that you heard the concern, and then moving on to another topic without trying to resolve the concern. Also called the pass-up method.

compensation method

Method used to respond helpfully to objections by agreeing that the objection is valid, but then proceeding to show any compensating advantages.

direct denial method

Method of answering objections in which the salesperson makes a relatively strong statement indicating the error the prospect has made.

excuses

Concerns expressed by the buyer that are intended to mask the buyer’s true objections.

forestall

To resolve objections before buyers have a chance to raise them.

friendly silent questioning stare (FSQS)

The act of silently waiting to encourage buyers to elaborate or explain more fully what their concern is

indirect denial method

Method used to respond to objections in which the salesperson denies the objection but attempts to soften the response by first agreeing with the prospect that the objection is an important one.

LAARC method

Method to respond to objections: Listen, Acknowledge, Assess (the validity of the objection), Respond, Confirm (that the objection has been answered).

objection

Concern or question raised by the buyer.

pioneer selling

Selling a new and different product, service, or idea. In these situations, the salesperson usually has difficulty establishing a need in the buyer’s mind.

postpone method

Objection response technique in which the salesperson asks permission to answer the question at a later time.

probing method

Method to obtain commitment in which the salesperson initially uses the direct request method and, if unsuccessful, uses a series of probing questions designed to discover the reason for the hesitation.

referral method

Method of helpfully responding to objections in which the salesperson shows how others held similar views before trying the product or service. Also called the feel – felt – found method.

revisit method

Process of responding to objections by turning the objection into a reason for acting now. Also called the boomerang metho

superior benefit method

Type of compensation method of responding to an objection during a sales presentation that uses a high score on one attribute to compensate for a low score on another attribute.