Pro Selling Test 1

Personal Selling

human-driven interactions of individuals or organizations designed to bring about economic exchange within a value-creation context

1. Provide an interface between the companies

2. Develop the ability to be a person that can help somebody

3. Help others understand their own perception of value

4. Create economic exchange

How can salespeople add value?

CVP - customer value proposition

A collection of buyer-specific benefits

PVE - Personal value equation

Customer benefit received

Go-to-market Strategies

approaches used by companies to sell

Ethics

Principles governing the behavior of an individual or a group

Unethical behavior

What hinders the relationship between buyers and sellers?

Manipulation

eliminating or reducing a buyer’s choice unfairly

Persuasion

Influencing the buyer’s decision

1. using deception

2. offering bribes, kickbacks, or expensive gifts

3. giving confidential information

4. backdoor selling

What are the common areas of ethical concern?

1. inappropriate conduct

2. inappropriate humor

3. posting sexually explicit material on bulletin boards

What are some Examples of Sexual Harassment?

Agent

Person who acts on behalf of another

Sale

Transfer of title to goods for a consideration known as price

Offer

Takes place when the salesperson quotes specific terms

Orders

Written offers become contracts when they are deceived

Free on board

FOB meaning

FOB destination

Seller has title until the goods are received

FOB factory

buyer has title when the good leave the seller’s factory

Expressed warranty

oral or written agreements

Implied warranty

understood agreement

1. satisfy a want or desire

2. salve a problem

What are some Reasons of why people buy?

1. Manufacturers

2. resellers

3. government agencies

4. institutions

5. consumers

What are some types of customers?

OEM purchases

1 of the 2 types of manufacturer purchases

Purchased by businesses to use for manufacturing products they’re selling

End user purchases

1 of the 2 types of manufacturer purchases

Purchased by a business for their use/to consume is

1. Profit margin

2. turnover

3. effort

What are some things to consider when selling to resellers

Profit margins

percentage of net profit on each item

Turnover

How quickly a product sells

Derived Demand

Sales to OEMs and resellers are based on this

1. New task

2. straight rebuy

3. modified rebuy

What are the 3 types of Organizational buying decisions

New task

a company is buying a new product they’ve never purchased before

Straight rebuy

a company is rebuying something they’ve purchased before

Modified rebuy

a company is rebuying something they’ve purchased before, but there’s a small change in the purchase

1. Rational needs

2. Emotional needs

What are the 2 categories of organizational and personal needs?

Economic Criteria

type of buying criteria

Demand for lowest price

Quality Criteria

Type of buying criteria

Demand for quality

Service criteria

Type of buying criteria

Demand for “level of service”

Supply chain management

Program designed to facilitate the flow of products, timely and at a low cost

Electronic data interchange

The automated, computer-to-computer exchange of structures business documents between different company systems without manual human intervention

Auto replenishment

A system/subscription automatically refills, reorders, or restores something when it runs low or reaches a set schedule

Buying center of an organization

Group of people involved in a purchase decision

Life-cycle costing

Method for determining the cost of a purchase over their useful lives

2 way communication

What type of communication is an interpersonal communication?

Encoding

Type of interpersonal communication is has to do with creating and sending

Decoding

Type of interpersonal communication is has to do with receiving and interpreting

Feedback

Type of interpersonal communication is has to do with response to actions

Inflection

Tone or pitch of speech

Articulation

Production of recognizable sounds

Word picture

using words that makes the topic more clear

listen 80% of the times, and talk 20% of the time

Describe the 80/20 Listening rule