Relationship selling exam 1

What are hard skills and what are soft skills?

Hard skills relate to technology and soft relate to personal

What is competitive advantage in todays age? what can the competition not take away from you? what is not considered an advantage but is often a factor in a sale

Relationship with your customer, high-quality product and service. A competitor cant take away your relationship with the customer. Price is not seen as a competitive advantage

What does the majority of success in life depend on?

ability to communicate and manage personal relationships

What is the biggest advantage of personal selling?

face-to-face communication and real-time feedback

What are the two essence of sales?

Build relationship and problem solving

3 challenges of information age selling relationships

building new relationships, transforming them into business relationship, managing different relationships

What is the definition of personal selling?

A representative interacts face-to-face with a prospective customer to ask questions and communicate information to persuade a prospective customer to buy something to satisfy the customers needs.

What is value added selling and what is it determined by?

A series of creative improvements within the sales process that enhance the customers experience. The customer determines the value-addedness by the perception of what they get in exchange for what they give up.

What is customer value

how much a customer is willing to give up to enjoy a product or service

What are some characteristics of a profession

learned pursuit for public good, common language, code of ethics, shared body of knowledge, public trust, method of procedures, set of professional skills

what are types of sales positions?

service, retail, wholesale, manufacture rep

what are the functions of a salesperson

provide solutions to customers problems, help people re-sell products, provide with information, build goodwill, help customers understand how to use product

what are some desired skills a sales person can have

optimism, problem-solver, curiosity, goal oriented, listener and question asker, good service, time management

What is B2B sales?

the exchange of products, services or information between businesses rather than between businesses and consumers. the sale of a product or service to another business. it’s for a buyer further along the channel that leads to the customer

what is marketing

a system a company uses for identifying and satisfying customer needs and wants profitably.

What should you identify when trying to market a product?

who the customers are, what they want and need, how our products and meet those needs, how services satisfy customers, how company can profit with the offerings.

achieving organizational goals depends on what?

knowing the needs and wants of the target market and delivering that product.

What is target market and segmentation market?

target market is what customers and markets are most profitable “biggest bang for buck”

segmentation market is grouping of consumers into different clusters to focus on marketing efforts to tailor messages to fit, demographics, product usage, and psychographics

targeting a specific market does not mean what?

excluding people who do not fit the criteria

What does a target market allow a business to do?

focus on marketing dollars and brand messages to a specific market that is more likely to buy. this helps optimize outcome and money

what is in the marketing mix? (4 p’s)

product, place, price, promotion

what is all included in psychographics

personality, attitudes/behaviors, values, interests/hobbies, lifestyles

what are the 4 steps to consultative sales?

needs discovery, selection of solution, need satisfaction presentation, servicing the sale

what are the major features of consultative selling

customer is seen as a person needed to be served
buyers needs are found

you present their needs and find solutions

service their needs and continue the relationship

what is adaptive selling

altering sales behaviors during interactions to improve communication

what are major strategies that serve as personal selling philosophy in strategic/consultative selling model

relationship strategy, product strategy, customer strategy, presentation strategy

what is a relationship strategy? and how to do it correctly

a well-thought out plan for establishing, building and maintaining quality relationship. maintain high ethical standard, have a good professional image

what is a product strategy, and how to do it correctly

a plan that helps salespeople make correct decisions concerning the selection and positioning of products to meet customers needs. become a product expert, sell benefits

what is a customer strategy and what is needed to make it works

a plan that results in maximum responsiveness to the customers needs, understand the buying process

what is a presentation strategy? and how to make it works

well-developed plan for meeting objectives for each sales call. preparation!

creating and delivering customer value involves what steps?

understanding customers value needs, creating value proposition, communicating it and delivering the proposition

What is partnering in sales?

developed, high-quality long term relationship that focuses on solving the customers buying problems

what are the key relationship groups to a sales person

customers, management, company support staff, secondary decision makers

what are some keys to a partnering relationship

its built on shared values, both parties having a clear understanding of the purpose of partnership, the role of salesperson

what is encoding in the communication model?

creating an idea and putting it into words to convey a meaning or transfer information

what is decoding?

its when the intended person gets the message and they understand it.

what is self-concept?

bundle of facts, opinions, beliefs and perceptions about themself

when is the secert of personal and professional success realized?

when you can understand yourself, understand others and realize the impact of personal behaviors on others

what is communication style?

its the pattern of behavior that others observe

what do you look at when accessing someones communication style? (4)

how quickly and firmly someone makes decisions, how easily people share information, how someone reacts to change, how firmly a person believes in rules

What are the two things on a scale from high to low that determine communication style

sociability and dominance

what takes more time to sell? a solution or product

a solution takes more time and effort to define and diagnose the customer problem

what are a few things that are needed when selling to a company?

knowing company culture, product information and product performance

What is the difference between features and benefits?

features are data, facts, and characteristics of product or service.

benefits help answer “what will it do for the customer” what is to gain

Because of… you will be able to… and this means that… are connected to what? F-A-B

features, advantages, and benefits

What are some characteristics of effective presentation

custom to customer needs, use correct amount of detail, one detail at a time, appeal to senses, show off product, creative presentation

What do the worst presentations have in them?

answers to questions that have not been asked

What does product positioning involve?

decisions and activates intended to create and maintain certain concept of the product in the customers mind

How do you develop product positioning?

sales and marketing strategy aimed at influencing how a particular market segment perceives a product in comparison to the competition

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what is a salesperson role when relating to prodct positioning? USE DIFFERENTIATION

separate your product and company from competitors. differentiation can include quality, price, convenience, service

what is value proposition?

set of benefits and values the salesperson configures to meet and exceed customers needs

why should you create a value proposal?

products have similar features, your price is higher, develop a plan for what you offer, customer needs to acknowledge how your solution can benefit them

how to build the value proposition through a needs assessment

diagnose the customer needs, find solutions TOGETHER, identify the benefits to solve the problem

What is generic product related to product selling strategy?

the starting point, basically what the product is that you’re selling (first step)

What is expected product?

represents the customers minimal expectations of the product

what is a value added product in product selling strategy

salesperson offers a product to the customer that has more they expect and may not even know exists

what can you not count on the customer to do when relating to value?

you can’t count on them to see the value so you must show them the value

What is the customer strategy plan?

its a plan that results in understanding the customers perceptions and maximizing customer satisfactions and responsiveness

what are the typical steps in a buying process?

needs awareness, evaluation of solutions, resolution of problems, purchase and implementation

What is a need vs a want in selling?

need is a customer seeks a solution the want is what the buyer wants to do about something

When dealing with people remember that we are not dealing with what?

creatures of logic, we are dealing with creatures of emotion

What is emotional vs rational buying motives?

emotional is an appeal to passion or sentiment

rational is objective though process, and capabilities of a product

What are the 5 W’s

why, what buy, where, what price, when

what does maslows hierarchy of needs say

a persons buying behavior is affected by the types of needs they have at any given time.

self-actualization, self-esteem, social needs, safety and physiological needs

what is a salesperson role?

understand buyers to build relationships

What should you do on a sales call with a new person?

establish rapport, obtain permission to ask identifying questions, information to establish customers file, involve custom in product demonstration,

what is the pre-call plan

salesperson develops to determine exactly what will take place during an upcoming meeting or phone call

what are some elements of a pre-call plan

find objective, how log will it take, whats your role, whats customers role, identifying what youll do to accomplish objectives, document outcome

steps to make an appointment by phone

plan what youll say, identify you and your company, state the purpose of the call, explain time duration and dates, confirm appointment

what is the si step presentation plan?

approach, needs discovery, present, negotiate, close and then service the sale

how can you seem friendlier?

become interested in other people

regardless of the physical or finacial assets an organization may have….

its the people who make it successful. people are the key asset

Features… benefits…

features can be seen, felt, measured;tell

benefits sell; provides customer with advantage or gain

what to do if a customer says no?

get some feedback from them, keep trying for the sale, negotiate

what are 5 types of buyer resistance

need; hardest to overcome

product; too new or not established

source; they have loyalty elsewhere

price'; most common but you can always sell the benefits better

time; “they need time to think”

What is SPIN selling and what questions are related to it?

situation questions, problem questions, implication questions, need-payoff

You don’t close sales…

you build commitment to a sourse of action that brings value to the customer

general guidelines for closing the sale

focus on dominant buying motive, achieve commitment, negotiate through tough points, avoid surprises like delivery times, display self-confidence, ask for the order more than once

Should you figure out how to close the sale in advance?

Yes

What are the 5 techs of closing a sale?

trial close, direct appeal, puppy dog, ben franklin, order sheet close

Trial close could sound like what?

“when would you like x to start?” “can i come to the location?” when can i deliver

direct appeal close can sound like what?

clear and simple, straight to the point

puppy dog close can sound like what?

take it and try it, free trial

ben franklin close looks like what?

write down the pros of your product and ask customer to write down the cons visa versa

the order sheet close looks like what?

help the customer fill out the order sheet by them giving you gradual information or you asking for it “just to have it on hand”

Use what to your advantage after a close?

silence!

Never bring up what at the beginning of a sales pitch?

the price, only if they ask for it straight up

Is it normal to have a customer that doesn’t ask questions about a product?

its rare for a buyer to not have questions

What are the three C’s of what you shouldn’t do to people (book)

Don’t criticize, condemn, or complain

What do people crave? (book)

people crave appreciation

Focus on what the other person what? (book)

focus on what the other person wants and show them how they can get it

Become genuinely interested in other people

show interest in others and people are more likely to like you

smiling can do what? (book)

creates warm impression

a persons name is what to them
(book)

its the sweetest sound to them. use it when speaking to people

be a good listen and encourage others to do what?

talk about themselves

talk in terms of other peoples whats?

other peoples interests

how should you make other people feel?

make them feel important

what is the way to get the best of an arguement?

avoid it, arguments rarely result in someone winning

never say what to people?

never say youre wrong, show respect for peoples opinions