Sales and Selling Process - Video

A set of Q&A style flashcards covering the key concepts from the lecture notes on sales, selling, marketing, personal selling, the process steps, and the qualities of a good salesman.

What is the meaning of Sales?

Sales is the process whereby the seller transfers ownership of goods or services for a price.

What is the meaning of Personal Selling?

Personal selling is the process of persuading prospective buyers to buy a product or service in a face-to-face situation, with the aim of creating lasting customer satisfaction.

What is the difference between Marketing and Sales?

Marketing is a wider, customer-oriented activity that plans, prices, persuades, and distributes to satisfy customers; selling is product-oriented, begins after production, and focuses on obtaining orders and delivering the product. Marketing begins before production and continues after sale, while selling ends at delivery.

What does Caveat vendor mean?

Let the seller beware.

What does Caveat emptor mean?

Let the buyer beware.

What is a key feature of Selling?

Selling involves persuading and convincing people to buy the product or service.

Can selling occur over the counter or door-to-door?

Yes, selling can be over the counter (retail) or door-to-door.

What is Sale by Inspection?

A method where the buyer inspects the goods before deciding to buy; used when goods are non-standardized or perishable; it is time-consuming.

What is Sale by Description?

Goods are sold by descriptive details (size, shape, design, contents); used for standardized goods.

What is Sale by Sample?

A sample is shown and a bulk order is placed on the basis of the sample (e.g., grains, tea, coffee).

What is Sale on Approval or Return?

The seller ships the goods to the buyer, who may decide to buy or return them after checking.

What is the main distinction between Marketing and Sales in orientation?

Marketing is customer-oriented; selling is product-oriented.

When does Marketing begin?

Before production, to understand customer wants.

When does Selling begin?

After the goods are produced.

Does Marketing continue after sale?

Yes, marketing continues after sale to provide after-sale service; selling ends with delivery.

Does Selling continue after sale?

No, selling ends with the delivery of the product to the customer.

What is the aim of Selling vs Marketing?

Selling aims at profits through sales volume; Marketing aims at satisfying customers and long-term growth.

What is the meaning of the AIDCAM acronym in Personal Selling?

Attention, Interest, Desire, Conviction, Action, and More Sales.

What is the first step in the Personal Selling Process?

Preparation – a well-trained sales force with product knowledge and awareness of competitors and the firm.

What is the second step in the Personal Selling Process?

Prospecting – locating and identifying potential buyers and gathering information about them (pre-approach).

What is the third step in the Personal Selling Process?

Approach – face-to-face contact with the prospective buyer, introduction, and creating a favorable first impression.

What is the fourth step in the Personal Selling Process?

Presentation – displaying and describing the product, explaining its quality, utility, and how it meets the customer’s needs.

What is the fifth step in the Personal Selling Process?

Convincing – handling objections as sales opportunities and aiming to persuade the customer.

What is the sixth step in the Personal Selling Process?

Closing the Sale – obtaining the buyer’s consent, possibly with concessions, and arranging delivery.

What is the seventh step in the Personal Selling Process?

Post-Sale Follow-Up – checking that the product works to the customer’s satisfaction and building trust for future sales.

What does the acronym AIDCAM stand for besides Attention, Interest, Desire, Conviction, and Action?

More Sales.

Name a key physical quality of a good salesman.

Good physique: sound health, neat appearance, cheerful disposition, and proper dress.

Name a quality related to a salesman’s demeanor.

Cheerful disposition: pleasing manners, a smiling face, sociable and courteous.

What does sincerity mean in the context of a good salesman?

Loyal, committed, dependable, courageous, with a cool temperament and enthusiasm.

Why is sensitivity important for a salesman?

He is sensitive to customer needs, a good listener, and patient.

Why is knowledge important for a salesman?

Adequate and up-to-date knowledge about the firm, product, market, competitors, and customers.

What does a good salesman’s memory help with?

Keen observation, alert mind, sharp memory, judgment; self-confidence and initiative are important.

What is the difference between Sales and the Selling Process?

Sales is the total quantity sold in a period; the selling process is the series of steps to sell. Selling is ongoing and not a fixed quantity term.