Relationship and Strategic Selling Models in the Information Age

Personal Selling

Occurs when a company representative interacts directly with a customer or prospective customer to present information about a product or service.

Personal Selling Philosophy

Includes three prescriptions: Adopt marketing concept, Value personal selling, Become a problem solver/partner.

Emergence of Relationship Selling

The development of selling practices that focus on building long-term relationships with customers, driven by advances in information technology and electronic commerce.

Sales Success Factors

Depends on creating and adding value in customer relationships.

Sales Training Sources

Four major sources of sales training that contribute to the development of personal-selling skills.

Inside Salespeople

Perform selling activities at the employer's location.

Outside Salespeople

Travel to meet prospects and customers in their places of business or residence.

Account Executive (A E)

A title used in selling today.

Account Representative

A title used in selling today.

Account Manager

A title used in selling today.

Relationship Manager

A title used in selling today.

District Representative

A title used in selling today.

Marketing Partner

A title used in selling today.

Regional Account Manager (R A M)

A title used in selling today.

Key Accounts Manager (K A M)

A title used in selling today.

Strategic Accounts Manager (S A M)

A title used in selling today.

Sales Consultant

A title used in selling today.

Business Development Representative (B D R)

A title used in selling today.

Sales Associate

A title used in selling today.

Marketing Representative

A title used in selling today.

Territory Manager

A title used in selling today.

Channel Partner

A title used in selling today.

National Accounts Manager (N A M)

A title used in selling today.

Global Accounts Manager (G A M)

A title used in selling today.

Account Development Representative (A D R)

A title used in selling today.

Customer Relationship Management (C R M)

A software that records in one place the extensive information necessary to understand a customer and their needs and expectations.

Career Opportunities in the Service Channel

Includes Hotel, Motel, and Convention Center Services, Telecommunication Services, Financial Services, Media Sales, Real Estate, Insurance, and Business Services.

Career Opportunities: Business Goods Channel

Includes Industrial Salespeople, Sales Engineer or Applications Engineer, and Field Salespeople.

Career Opportunities: Consumer Goods Channel

Includes Retail Selling and Direct Salespeople.

Leading C R M software company websites

Salesforce.com, Netsuite.com, Sugarcrm.com, Saleslogic.com, Siebel.com.

Selling Skills

Considered one of the 'Master Skills for Success' in the Information Age.

Nonsales selling

People spend 40 percent of their time in this activity, which involves persuading, influencing, and convincing others in ways that do not involve a purchase.

Knowledge workers

Individuals who add value to information and are focused on creating, using, sharing, and applying knowledge.

Personal-selling skills

Contribute significantly to the work performed by Managerial personnel, Professionals, Entrepreneurs, and Marketing personnel.

Four Sources of Sales Training

Corporate sponsored training, Training provided by commercial vendors, Certification programs, College and university courses.

Sales Training

Training programs provided by commercial vendors that are very popular.

Review

Define personal selling and describe the three prescriptions of a personal-selling philosophy.

Rewarding aspects of a career in selling

Discuss the rewarding aspects of a career in selling today.

Different employment settings in selling

Discuss the different employment settings in selling today.

Master skills needed for success

Explain how personal-selling skills have become one of the master skills needed for success in the information age.

Contribution of personal-selling skills

How personal-selling skills contribute to the work performed by knowledge workers.

Four major sources of sales training

Identify the four major sources of sales training.

Marketing Concept

The principle that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired products.

Customer Focus

The approach that prioritizes understanding and meeting the needs of customers to drive sales and profits.

Value in Selling

The importance of delivering value to customers as a path to achieving sales and profits.

Personal Selling Evolution

The development of personal selling models as an extension of the marketing concept.

Consultative Selling

A selling approach that emphasizes need identification, problem solving, and negotiation, with the salesperson acting as a consultant.

Strategic Selling

A selling model that includes four broad strategic areas aimed at enhancing sales effectiveness.

Strategic Account Management

The evolution of partnering relationships that focus on managing key accounts strategically.

Value-Added Selling Strategies

Strategies that enhance personal selling by providing additional value to customers.

Two-Way Communication

A communication process where buyer's needs are identified through interactive dialogue.

Negotiation in Selling

The process of discussing terms and conditions to reach an agreement, emphasized in consultative selling.

Service in Selling

The emphasis on providing service at every phase of the personal-selling process.

Strategic Planning

The process that matches a firm's resources to its market opportunities.

Tactics in Selling

Techniques, practices, or methods used to implement strategies in selling.

Selling Strategies

Plans for accomplishing sales objectives.

Repeat Business

Business that is generated through satisfied customers returning for additional purchases.

Referrals in Selling

New potential customers that are directed to a salesperson by satisfied existing customers.

Customer Satisfaction

The degree to which customers feel their needs and expectations are met.

Consultative Sales Presentation Guide

A contemporary guide that emphasizes the customer as a person to be served.

Problem Solving in Selling

The process of identifying and addressing customer issues to provide solutions.

Sales Objectives

Specific goals set for sales performance that guide selling strategies.

Adaptive selling

To alter sales behaviors during interactions to improve communication.

Relationship strategy

A well-thought-out plan for establishing, building, and maintaining quality relationships and an integral dimension of relationship selling.

Product strategy

A plan that helps salespeople make correct decisions concerning the selection and positioning of products to meet identified customer needs.

Customer strategy

A plan that results in maximum responsiveness to the customer's needs.

Presentation strategy

A well-developed plan for meeting objectives for each sales call.

Strategic-Selling Alliances

The highest form of partnering.

Strategic Account Manager (S A M)

A role focused on managing strategic accounts.

Key Account Manager (K A M)

A role focused on managing key accounts that are critical to the business.

National Account Manager (N A M)

A role focused on managing accounts at a national level.

Global Account Manager (G A M)

A role focused on managing accounts on a global scale.

Building Strategic Account Relationships

Learning about proposed partners, meeting with them, and exploring benefits of the alliance.

Partnering

Enhanced with high ethical standards and customer relationship management.

Sales presentation objectives

Goals set for what the sales presentation aims to achieve.

Presentation plan

A structured outline of how the sales presentation will be conducted.

Customer service commitment

A renewed focus on providing excellent service to customers.

Understanding the buying process

Gaining insight into how customers make purchasing decisions.

Understanding buyer behavior

Analyzing how customers behave when making purchasing choices.

Developing prospect base

Creating a list of potential customers to target for sales.