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Relationship Selling
Sales approach that builds and maintains customer trust over a long time
Customer Engagement
The connection that exists between the salesperson, the selling firm, and the customer.
Types of Customer Purchases and Their Characteristics
New-Task Purchase, Straight-Rebuy, Modified-Rebuy
New-Task Purchases
Purchases that are new to the purchasing organization, typically involving high information needs, a high number of purchasing participants, and an extended timeline.
Straight-Rebuy Purchases
Purchases the customer makes on a frequent basis, involving low information needs and a short timeline.
Modified-Rebuy Purchases
Purchases that combine elements of both new-task purchases and straight-rebuy purchases, involving moderate information needs, a moderate timeline, and moderate dollar volume.
Electronic Data Interchange (EDI)
A technology designed to integrate the computer systems of supplier and buyer firms.
Buying Teams
Groups of individuals who ultimately have a voice in the purchase decision.
Initiator
The individual or group of individuals on a buying team who first recognizes the customer’s need.
Influencer
Individuals on a buying team who help determine the priorities to be addressed when making the purchase decision and express their opinions regarding potential solutions.
Deciders
Individuals on a buying team who make the actual choice of a product or service for purchase.
Product User
Individuals on a buying team who use the product or service in their daily activities; because of their involvement, they often focus on product functionality.
Purchaser
Individuals within the buying organization who negotiate final terms and make the actual purchase.
Gatekeeper
Individuals within the buying organization who control access to the buying-team members; typically not part of the buying team.
Five-Step Decision-Making Model
Problem Recognition, Information Search, Evaluation of Alternatives, Supplier-Solution Decision, Post-Purchase Evaluation
Problem Recognition
Phase of the decision-making process in which the customer first recognizes a need.
Information Search
Phase of the decision-making process in which the customer gathers information and identifies potential suppliers.
Evaluation of Alternatives
Phase of the decision-making process in which the customer assesses the competing solutions, weighing their decisions based on criteria that are most important in the decision.
Supplier-Solution Decision
Phase of the decision-making process in which the customer actually chooses a vendor from which to buy.
Post-Purchase Evaluation
Phase of the decision-making process in which the customer assesses how well the solution-implementation process promised by the salesperson and selling firm actually unfolded.
Salesperson-Owned Loyalty
The loyalty directed toward an individual salesperson as opposed to the selling firm.
Constrained Loyalty
The loyalty that exists when the customer is constrained to the relationship, usually by a contractual obligation.
Affective Loyalty
The loyalty that exists when the customer feels a strong attitudinal connection and true attachment with the salesperson and/or selling firm.
Spurious Loyalty
The loyalty that exists when the customer continues to purchase only out of habit.