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Marketing Chapter 20
Personal Selling and Sales Management
| Term | Definition |
|---|---|
| Personal selling | Two-way communication between buyer and seller intended to influence the buying decision |
| Sales management | Planning, implementing, an evaluating the selling program |
| Salespeople are useful because... | They provide information/advice to the buyer, create a link between customer and company, represent the company, solve problems, build relationships, generate new ideas |
| Typical selling | A short-term relationship, e.g. someone helping you at the store |
| Relationship selling | Building long-term ties, can involve short-term sacrifices e.g. waiving an expedited fee |
| Partnership selling | The selling process is a joint venture--e.g. when you're selling someone an engine, a plane, etc. |
| Order takers | Primarily processes routine orders/rebuys (e.g. Girl Scouts and cookies) |
| Order getters | Identifies potential customers and engages them in discussions to hopefully make a sale (usually involved in new buys and modified rebuys) |
| Missionary salespeople | Just try to give you information about the product |
| Sales engineer | Works on engineering a product along with the buyer |
| Conference and seminar selling | Can speak to large number of people, seminar is disguised as learning opportunity |
| Stage 1 of the personal sales process: prospecting | Generating leads (may want the product), prospects (definitely want the product), and qualified prospects (wants it, can afford it, and as the power to decide). Can involve trade shows, cold calling, inbound marketing |
| Stage 2 of the personal sales process: pre-approach | Research the prospect, be aware of social/cultural factors, choose approach method, etc. |
| Stage 3 of the personal sales process: approach | The first meeting--not necessarily a pitch. Choose the right venue, etc. |
| Stage 4 of the personal sales process: the presentation | Converting the prospect into a customer |
| Presentation approaches | Stimulus response (try different tactics/interest points and see what works), formula selling (same for everyone), needs-satisfaction (bad if done badly, includes adaptive and consultative selling) |
| Dealing with objections in the sales process | Acknowledge and convert, postpone, agree and neutralize (yes, but), accept, deny, ignore |
| Stage 5 of the personal sales process: close the sale | Trial close (when you act like it's the official close but you're still willing to negotiate), assumptive close ("when will you need it by?"), urgency close (offer will go away) |
| Stage 6 of the personal sales process: follow up | Check on delivery status/setup process, ask about problems and provide help as necessary, generally don't try to sell something else |
| Paying and evaluating salespeople | Quantitative/sales quotas? Qualitative/behavioral? |
Created by:
ejrasmus
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