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PS&M Final1
Personal Sales & Management
| Question | Answer |
|---|---|
| A form of personal selling that focuses primarily on interersonal communication between buyers and sellers with the goal of establishing relationships | trust-based selling |
| the ability of a salesperson to alter their sales messages and behaviors during a sales presentation or as they encounter different sales situations and different customers | adaptive-selling |
| an approach to selling where the key idea is that various stimuli can elicit predictable responses fro customers. Salespeople furnish the stimuli from a repetoire of words and actions designed to produce the desired response | stimulus-response selling |
| a role the salesperson plays in consultative selling where he or she arranges the use of the sales org. resources in an effort to satisfy the customer | strategic orchestrator |
| a series of interrelated steps beginning with locating qualified prospective customers. From there, the salesperson plans the sales presentation, makes an appointment to see the customer, completes the sale, and performs post sale activities. | sales process |
| The extent of the buyers confidence that he or she can rely on the salesperson integrity. | Trust |
| term used by buyers to define trust | Openness |
| term used by buyers to define trust; predictability of a person's actions | dependability |
| term used by buyers to define trust: honesty of the spoken word | Candor |
| term used by buyers to define trust | Honesty |
| the act of salespeople placing as much emphasis on the customer's interest as their own. | customer orientation |
| the specific needs that are contingent on, and often a result of, conditions related to the specific environment, time, and place | situational needs |
| the need for a specific core task or function to be performed; the functional purpose of a specific product or service | functional needs |
| the need for acceptance from and the association with others; a desire to belong to some reference group | Social needs |
| the desire for feelings of assurance and risk reduction, as well as positive emotions and feelings such as success, joy, excitement, and stimulation | psychological needs |
| a procedure for evaluating suppliers and products that incorporates weighted averages across desired characteristics | multiattribute model |
| individuals within an organization who identify a need or perhaps realize that the acquisition of a product might solve a need or problem | initiators |
| individuals within an org. who will actually use the product being purchased | users |
| individuals within an org. who have the ultimate responsibility of determining which product or service will be purchased. | deciders |
| individuals within an org who have the responsibility of neogotiating final terms of purchase with suppliers and executing the actual purchase or acquisition. | purchasers |
| members of an org who are in the position to control the flow of info. to and between vendors and other buying center members | gatekeepers |
| situation questison, problem questions, implication questions, need payoff questions | SPIN |
| assesment questions, discovery questions, activation questions, projection questions, transition questions, | ADAPT |
| the cognitive process of actively sensing, interpreting, evaluating, and responding to the verbal and nonverbal messages of present or potential customers | Active Listening |
| a salespersons plan for generating qualified prospects | strategic prospecting |
| the act performed by salespeople of searching out, collecting, and analyzing information to determine the likelihood of the lead being a good candidate | Qualifying sales lead |
| a representation of the trust-based sales process vertically in the form of a funnell. | sales pipeline/sales funnel |
| aka org. sales presentation. unlike a canned sales presentation, an organized sales dialogue has high level of customer involvement | organized sales dialogue |
| a statement of how the sales offering will add value to the prospects business by meeting a need or providing an opportunity | customer value proposition |
| a quality or characteristic of a product or service that is designed to provide value to a buyer | features |
| benefits | |
| a combo of a specific feature and its meaningful benefit statement | selling point |
| confirmatory questions in search of a yes or no response | check-backs |
| confirmatory questions in search of an open ended response | response checks |
| claims of benefits and value produced and provided to the buyer during a sales presentation that have been backed up with evidence to highlight their believability | proof providers |
| acronym salespeople can follow during a sales preseantion to remind them of what features are relevant and what benefits are meaningful to the prospective buyer in terms of value to be realized | SPES sequence |
| buyers objections to a product or service during a sales presentation | sales resistance |
| Listen, acknowledge, asses, respond confirm | LAARC |
| assuming an agreement has been reached | assumptive close |
| the process of improving a product for the customer | adding value |
| meetings in which the salesperson encourages to discuss tough issues | critical encounters |
| goals and objectives | |
| placing customers and prospects into categories based on potential | account classification |
| analyzing accounts and allowing two factors to be considered simultaneously | portfolio analysis |
| salespeople can increase their effectiveness by... | improving their professional demeanor |
| the most important part of marketing communication in terms of money spent by most business firms is | personal selling |
| which of the following aspects of predicted sales force is NOT expected to change response. | more sales dollars will be spent on advertising |
| the responsibility of revenue production is shared by the salespeople and.. | management staff |
| accounts are concerned with profitability in.... salespeople are concerned with profitablity in... | bottom-line, top line |
| salespersons are expected to... | contribute to the success of the buyer's firm |
| four basic approaches to personal selling | stimulus-response, need satisfaction, mental sales, problem-solution |
| typical skills required for trust-based selling | information gathering, listening and questioning, strategic problem solving, team building and teamwork |
| the most important part of a salesperson's job is... | the sales process |
| "Do you know what you're talking about?" | competence or expertise |
| "Will you recommend what is best for me?" | customer orientation |
| "are you being open and up-front with me?" | candor |
| "can I count on you to be here on time?" | dependability |
| salespeople often adjust their appearance and communication style to that of their customers to build trust | computability |
| pricing policies are important because | legal obligation to quoted prices and negotiation responsibilities |
| to better understand a product's position in the marketplace, salespeople need... | a high degree of competitor knowledge |
| ethics is... | right and wrong conduct of individuals and institutions of which they are a part |
| covering pros and cons of market gives the perception of customer oriented salespeople | true |
| the gap between a buyer's desired state and his actual state is | problem and need |
| a salesperson's best chance for making a sale is to get involved with the buyer when they are in what stage of the buying process? | recognition of need |
| types of buyer needs | functional, social, situational, psychological. NOT PHYSIOLOGICAL |
| a potential buyer will spend more time gathering information in which type of purchasing decision? | new tasks |
| shorter version of buying process | recognition of needs, evaluation of options, resolution of concerns |
| RFP | request for proposals |
| with respect to trust-based selling, the purpose of sales communication is | to seek common understanding between the buyer and seller |
| salespeople need to posses effective communication skills so that they | better able to identify buying needs and accurately convey proposed solutions |
| a salesperson wishing to shift or redirect the topic of discussion should use which of the folowing types of questions? | tactical |
| a salesperson wishing to uncover a prospects perceptions and feelings regarding a proposed solution should use which type of question? | evaluative |
| "that sounds like an important issue, could you give me an example of what you mean?" | reactive |
| primary objective of strategic prospecting | identifying qualified prospects |
| sales leads are not prospects, but | suspects |
| when planning a sales dialouge, a salesman must | focus on customer needs and how the customer defines value |
| type of sales presentation that makes the assumption that customer needs and buying motives are homogeneous | canned sales presentation |
| salesmans ability to develop a good solution relies on | listening to discover needs and use of visual aids |
| sally is interested in creating a completely self-contained sales proposal. she should probably develop a | written sales proposal |
| a major advantage of an effective written sales proposal is | the ability to continue selling in the absence of the salesman |
| what is a good indicator of buyer resistance? | anything the prospect says or does that slows down the buying process |
| an objection to most likely result in the loss of a sale | the prospect was not qualified |
| what is a very common, but usually not a very important objection | price |
| objection categories | needs, product or service, price, company or source |
| a good way to overcome objections | improve prospecting and qualifying |
| one of the hardest objections to overcome | loyalty to a competitor |
| addressing certain sources of buyer resistance before the buyer mentions them | forestalling |
| after overcoming buyer resistance, the salesman should | summarize the pertinent buying signals |
| if the salesman initially fails to earn the buyer's commitment, they should | probe to try to find out why the buyer is resistant |
| it costs seven to ten times more to acquire a new customer than it does to retain an existing customer | true |
| which of the following components of effective follow-up reflects a salesman's actions that create and maintain contact with influential people in the buying org | connect |
| how do salesman demonstrate customer commitment by satisfying long term relationships? | follow-up with customers on a regular basis, especially after they've placed an order |
| the first step to resolve customer complaint | ask the customer to explain the problem and listen to the whole story |
| most fortune 500 companeis lose 50% of their customers in 5 years | true |
| the process of first deciding what is to be accomplished and then placing into motion the proper plan to achieve those objectives | self-leadersihp |
| classifying accounts based on level of sales potential | single-factor analysis |
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