MKT 3427 Test 1 - Gleiberman

Personal Selling is a process of:

1 Developing relationships

2 Discovering needs

3 Matching products with needs

4 Communicating benefits

Industrial Economy

1 Major advances occur in manufacturing and transportation

2 Strategic resources are capital and natural resources

3 Business is defined by its products and factories

4 Sales success depends on meeting sales quota

Information Economy: 4 major developments

1 Major advances occur in technology

2 Strategic resources are technology

3 Business is defined by customer relations

4 Sales success depends on adding value

Psychic Income

job rewards you emotionally and mentally, feeling valued at your organization.

the reason why people are in sales

Future in personal selling:

Wide range of employment opportunities

Wide range of tasks = Need variety of skills

Freedom to manage time and activities

Above average financial and psychic income

Opportunities for advancement

Opportunities for women

Inside Salespeople

Perform selling activities at employers location. Don't leave their office

Inbound Sales

Sale is initiated by the customer, like taking phone calls

Outbound Sales

Sale is initiated by the sales rep, like making calls to get more customers

Outside salespeople

travel to meet prospects or customers in their area of business

"B2C" Business to consumer sales

Salespeople selling to consumers

"B2B" Business to business sales

Salespeople selling to businesses

About ___ percent of US labor force is employed in service sector?

80

____ is important in our new economy, even when products are focal to the sale (adds value!)

Service

Examples of service channel careers

Hotel, motel, convention center

Telecom services

Financial sales

Media sales

Real estate

Insurance

Business services

Industrial Salespeople

Include both technical and non-technical salespeople. Sell heavy equipment and must be knowledgeable about product.

Sales Engineer

Must possess detailed and thorough technical knowledge as well as knowledge about competition. Must be able to identify and analyze customer problems and be technically proficient.

Field Salespeople

Going out and closing accounts, interact with new and current customers. Must be able to recommend proper product.

Missionary Salespeople

Not really selling a product but making the territory your in aware of your business. Known as detailed salespeople.

B2C sales include both ____ sales and _____ selling?

Retail, Direct

_____ is in sales

Everyone

Knowledge workers

Work effort is centered around creating, using, sharing, and applying knowledge.

Examples of knowledge workers

Managerial personnel

Professionals (accountants, consultants, lawyers, architects, engineers, etc.)

Entrepreneurs

Marketing personnel and customer service reps

Four Sources of learning to sell

Corporate-sponsored training

Training provided by commercial vendors

Certification programs

College and university courses

This source is growing rapidly ______?

College and university courses

Corporate based selling example

Many firms have established programs

Millions spent in training each year

Salespeople among most intensively trained employees

Training for consultative selling = Few months to a year

Some web-based training used

Best companies provide ______ training?

On-going

Selling has moved from peddling to ____, _____, and _______

Long- term relationships

consultative selling

value-added partnering.

Marketing Concept

A principle that holds that achieving organizational goals

depends on:

Knowing the needs and wants of target markets

Delivering the desired product

idea that all functions of a firm work together to benefit a customer

Paths to sales and profits are ____ and ____?

Customer focus and value

Consultative Selling Era

era (late 1960s to early 1970s)

Mass markets break into target markets

Emphasis on need identification

Information sharing and negotiation replace manipulation

Marketing era

Product focus begins to replace by a customer focus

Organizations begin to adapt to delivering customer satisfaction

Sales person is viewed as conduit for collecting product market and service information about the market

Transactional Selling

Process that serves the buyer primarily interested in price and convenience

Consultative Selling

Process that developed from the marketing concept, emphasizing need identification

Features of consultative selling

Customer is a person to be served, not a prospect to be sold

Two-way communication

Emphasis on information giving, problem solving, and negotiation versus manipulation

Emphasis on service after the sale

Strategic Market Plan

Matches firm resources to market opportunities

Outlines necessary methods and resources

Considers areas to be coordinated

Influences the sale of products

Serves as guide for strategic selling plan

Economic Friction

Marketing wants advertising money

Sales wants funding for increased sales force

Cultural Conflict

Marketing focuses on program elements

Sales focuses on customers

Strategic Selling Era (1980)

Market niches require more planning

Equal emphasis on strategy and tactics

Product positioning vital

Partnering Era (1990-present)

Customer, not product, as driving force...building relationships

Emphasis on strategies that create customer value

Tactics

Specific techniques, practices, and

methods used in customer interaction

Used in the moment

Strategy

Carefully conceived plan needed to accomplish sales objectives

A prerequisite to tactical success

Planned in advance

Relationship Strategy

Well-thought-out plan for establishing, building, and maintaining relationships

Primary goals of relationship strategy are ____, _____, and ____?

Rapport, trust, and mutual respect

Product Strategy

Plan that helps salespeople make correct decisions concerning selection and positioning of products to meet customer needs.

Product strategy begins with _______________________?

thorough product knowledge.

Product strategy boiled down ______, ______, and _______?

Become an expert, sell benefits, and develop value-added solutions

Customer strategy

Plan that results in maximum responsiveness to customer's needs

Factors of Customer Strategy

Collection and analysis of specific information for each customer

Dictated by needs of customer

Differs from customer to customer

Presentation Strategy plan that includes:

Sales presentation objectives

Presentation plan to meet objectives

Renewed commitment to provide outstanding

customer service

Presale planning ensures organizations ___________________?

should be adapted to each specific customer

Personal Selling Philosophy: Building Quality RelationShips in the middle

Relationship Strategy

Product Strategy

Consumer Strategy

Presentation Strategy

Partnering

Strategically developed, long-term relationship that solves the customer's problems

Relationship Selling

is a well thought out plan for establishing building and maintaining quality relationships and an integral dimension of relationship selling.

______ and ______ Enhances relationship selling.

High ethical standards

Customer relationship management

Strategic Alliances

Formed by companies that have similar business interests and gain mutual competitive advantage

Goal is to achieve a marketplace advantage by teaming up with another firm

Highest form of consultative selling required to build win-win alliances

Value Creation

1) Understand customer needs

2) Create value proposition

3) Communicate value proposition

4) Deliver value proposition

Emotional Intelligence

-Monitoring our own feelings and those of others

- Motivating ourselves

- Managing emotions well in ourselves and in our relationships

_______ _______ is a key predictor of success

Emotional Intelligence

3 major relationship challenges

1. Building new relationships

2. Transforming relationships from personal level to business level (or vice versa)

3. Managing relationships

Salesperson traits that help create perception of value

Honesty

Accountability

Sincere concern for customer welfare

Selling is viewed as a ____ not a ______

Process, event

Self-concept

-Shaped by ideas, attitudes, feelings, and thoughts you have about yourself

-Influences the way you relate to others

-Feelings and behavior are consistent with the

self-concept

Ways to develop a more positive self concept

Focus on the future, not past mistakes

Develop expertise in selected areas

Develop a positive mental attitude

Win win philosophy

Customer satisfaction of primary importance

First step in relationship strategy

Buyer and seller come out of the sale with respective best interests served

This is a critical mindset for negotiation as well

Empathy

is the ability to understand what a person is feeling

Ego drive

is an inner force that makes the salesperson need to make the sale.

Character

includes personal standards such as honesty, integrity, and moral strength.

Integrity

involves achieving congruence between what you know, say, and do.

Customers are more likely to buy from salespeople they believe are of high _____ and ______?

Character and Integrity

Silent Messages communicated through

- Facial expressions

- Tone of voice

- Gestures

- Appearance

- Posture

- Other nonverbal means

________ messages have greater impact than verbal messages

Non-verbal

Entrance and Carriage

Believe and project that you have a reason to be there and something important to offer the client.

Communicate confidence with:

Strong stride

Good posture

Friendly smile

Shaking hands

Proper greeting, symbolizes respect

Make eye contact

Use firm, deep grip

Duration and dryness

State your name when you extend your hand

Facial expression convey ________?

Facial expressions convey

People tend to trust a _____ face?

Smiling

Good eye contact says ________?

"I'm listening"

Adaptive Selling

altering sales behaviors in order to improve communication with the customer.

Communication style bias

Develops when we have contact with another person whose communication style is different from our own.

Individual difference

Each person displays individual array of verbal

and nonverbal characteristics

Ability

is how well you can do something

Style

is how you like to do it

Tactic Knowledge

Any knowledge that is difficult to transfer to another person through written or verbal communication

Emotive

They display characteristics that are unique to them

*High sociability, high dominance)

Directive

Think of a director - sit behind camera, not involved in action but are controlling everything

*(High sociability, Low dominance)

Reflective

They examine all of the facts, take a little longer, detail-oriented *(Low dominance, Low sociability)

Supportive

Low visibility but like to help

*(Low dominance, High sociability)

Low dominance

Cooperative

Let others control

Low in assertiveness

High dominance

Like to control

Initiate demands

More aggressive

Low sociability

Control feelings

Prefer solitude

More reserved

More formal

High sociability

Express feelings

Prefer interaction

More outgoing

More informal

Emotive Style Traits:

Appears quite active

Usually takes the social initiative

Likes to encourage informality

Expresses emotional opinions

EX: OPRAH

Directive Style Traits

Appears quite busy

May give the impression of not listening

Displays rather serious attitude

Likes to maintain control

EX: OBAMA

Reflective Style Traits

Controls emotional expression

Displays preference for order

Tends to express measured opinion

Seems difficult to get to know

Ex: BILL GATES

Supportive Style Traits

Appears to be quiet and reserved

Listens attentively

Tends to avoid use of power

Makes thoughtful decisions in deliberate manner

Ex: SANDRA BULLOCK

Versatility

is one's ability to minimize communication- style bias.

Style Flexing

Is a deliberate attempt to adjust one's communication style to accommodate others' needs. Moving from zone 1 to zone 2.

Platinum Rule

Do Unto Others As They Want Done Unto Them.

Selling to Emotives

Be enthusiastic

Don't be too stiff or formal

Take time to establish goodwill and relationships

Maintain eye contact

Be a good listener

Selling to directives

Stay as businesslike as possible

Be efficient, time disciplined, and organized

Identify their goals

Ask questions and note responses