MGMT 430 Professional Selling Quiz 2 Content

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24 Terms

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Relationship Selling

Sales approach that builds and maintains customer trust over a long time

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Customer Engagement

The connection that exists between the salesperson, the selling firm, and the customer.

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Types of Customer Purchases and Their Characteristics

New-Task Purchase, Straight-Rebuy, Modified-Rebuy

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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.

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Straight-Rebuy Purchases

Purchases the customer makes on a frequent basis, involving low information needs and a short timeline.

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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.

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Electronic Data Interchange (EDI)

A technology designed to integrate the computer systems of supplier and buyer firms.

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Buying Teams

Groups of individuals who ultimately have a voice in the purchase decision.

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Initiator

The individual or group of individuals on a buying team who first recognizes the customer’s need.

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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.

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Deciders

Individuals on a buying team who make the actual choice of a product or service for purchase.

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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.

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Purchaser

Individuals within the buying organization who negotiate final terms and make the actual purchase.

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Gatekeeper

Individuals within the buying organization who control access to the buying-team members; typically not part of the buying team.

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Five-Step Decision-Making Model

Problem Recognition, Information Search, Evaluation of Alternatives, Supplier-Solution Decision, Post-Purchase Evaluation

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Problem Recognition

Phase of the decision-making process in which the customer first recognizes a need.

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Information Search

Phase of the decision-making process in which the customer gathers information and identifies potential suppliers.

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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.

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Supplier-Solution Decision

Phase of the decision-making process in which the customer actually chooses a vendor from which to buy.

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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.

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Salesperson-Owned Loyalty

The loyalty directed toward an individual salesperson as opposed to the selling firm.

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Constrained Loyalty

The loyalty that exists when the customer is constrained to the relationship, usually by a contractual obligation.

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Affective Loyalty

The loyalty that exists when the customer feels a strong attitudinal connection and true attachment with the salesperson and/or selling firm.

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Spurious Loyalty

The loyalty that exists when the customer continues to purchase only out of habit.