Chapter 1

Question 1

Personal Selling

Answer 1

Involves person to person communication with a prospect. It is a process of developing relationships; matching appropriate products with those needs; and communicating benefits through informing, reminding, or persuading.

Question 2

Product

Answer 2

Should be broadly interpreted to encompass physical goods, services, and ideas.

Question 3

Personal Selling Phyilosophy

Answer 3

A sales persons commitment to value personal selling, adopt the marketing concept, and become a problem solver and partner to help customers make better buying decisions.

Question 4

information economy

Answer 4

An economy where there is an emphasis on information processing.

Question 5

selling 2.0

Answer 5

Information technology tools along with innovative sales practices used to create value for both buyers and sellers by improving the speed, collaboration, customer engagement, and accountability of the sales process.

Question 6

value-added selling

Answer 6

Improving the sales process to create value for the customer. Salespeople add value when they offer better advice and product solutions, carefully manage customer relationships, and provide better service.

Question 7

Psychic Income

Answer 7

Consists of factors that provide psychological rewards; it helps to satisfy the need for