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Marketing 330 > Final Exam - Chapter 19 > Flashcards

Final Exam - Chapter 19 Flashcards

1
Q

Personal Selling

A

paid personal communication that attempts to inform customers and persuades them to buy products in an exchange situation

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2
Q

Advantages to Personal Selling

A

greatest freedom to satisfy customers; most precise promotional method

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3
Q

Disadvantages to Personal Selling

A

expensive!

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4
Q

7 Step Process to Personal Selling

A

prospecting, pre-approach, approach, making the presentation, overcoming objections, closing the sale, following up

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5
Q

PS Step 1 (Prospecting)

A

developing a database of potential customers (leads)

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6
Q

PS Step 2 (Pre-approach)

A

salesperson analyzes info about the prospect’s needs (“What might they be interested in?”) ex: key decision makers, credit history, product needs, etc.

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7
Q

PS Step 3 (Approach)

A

the manner in which a salesperson contacts a potential customer; creating relationships; first impression

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8
Q

PS Step 4 (Making the Presentation)

A

the salesperson must attract and hold the prospect’s attention, stimulate interest in and spark a desire for the product

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9
Q

PS Step 5 (Overcoming Objections)

A

anticipate and counter objections before the prospect raises them (objections are requests for more info)

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10
Q

PS Step 6 (Closing the Sale)

A

the salesperson asks the prospect to buy the product (ask for the order); attempt to close at several points during the presentation in case the prospect is ready to buy

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11
Q

PS Step 7 (Follow-Up)

A

checking in with buyer to make sure everything’s in order; building and maintaining relationships

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12
Q

Types of Salespeople

A

order getters, order takers, Support Personnel

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13
Q

Order Getters

A

salespeople who sell to new customers and increase sales to current customers

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14
Q

Order Takers

A

salespeople who primarily seek repeat sales (ex: retail and wholesalers)

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15
Q

Support Personnel

A

sales staff members who facilitate selling but usually are ot involved solely with making sales

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16
Q

Missionary Salespeople

A

usually employed by a manufacturer, assist the producer’s customers in selling to their own customers (pharma-detailers explain/promote product to medical community)

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17
Q

Trade Salespeople

A

involved mainly in helping a producer’s customers promote a product-Food(Kraft)-convenience products

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18
Q

Technical Salespeople

A

give technical assistance to a firm’s current customers (ex: software and sales engineers)

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19
Q

Team Selling

A

using a team of experts from all functional areas of a firm, lead by a salesperson, to conduct the personal selling process

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20
Q

Relationship Selling

A

building of mutually beneficial long-term associations with a customer through regular communications over prolonged periods of time

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21
Q

Suggestions for Attracting and Retaining a Top Sales Force

A

training and development, compensation, work/life autonomy (working from home), product quality and service

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22
Q

Recruiting Sources

A

departments within firm, other firms, employment agencies, universities

23
Q

Compensating Salespeople

A

straight salary, straight commission, combination

24
Q

Straight Salary

A

paying salespeople a specific amount per time period, regardless of selling effort

25
Q

Straight Commission

A

paying salespeople according to the amount of their sales in a given time period (ex: 5% of sales)

26
Q

Combination Compensation

A

paying salespeople a fixed salary plus commission based on sales volume

27
Q

Motivating Salespeople

A

additional efforts such as trophies, trips, incentives

28
Q

Creating Sales Territories

A

routing and scheduling salespeople; minimize non-selling time; create territories with measurable sales potential (ex: geographic area, assigned accounts)

29
Q

Evaluating Sales Force Performance

A

call reports (what happened?), measure performance determined by sales objectives such as calls/day, cost/call, # of new customer orders, etc.

30
Q

Sales Promotion

A

an activity and/or material that acts as an inducement to reseller or salespeople to sell a product or consumer to buy it

31
Q

Sales Promotion vs. Advertising

A

sales promotion more heavily used than ever at expense of advertising (ex: coupons)

32
Q

Consumer Sales Promotion Methods

A

sales promotion techniques that encourage consumers to patronize specific stores or try particular products

33
Q

Coupons

A

written price reductions used to encourage consumers to buy a specific product (DON’T USE TOO MUCH – ADDICTIONS)

34
Q

Cents-Off

A

Promotions that allow buyers to pay less than the regular price to encourage purchase (tag or label saying get $.25 off)

35
Q

Money Refunds

A

Promotion techniques that offer consumers a specified amount of money when they mail in a proof of purchase, usually for multiple product purchases-(low response rate-usually convenience type products-low value)

36
Q

Rebates

A

Promotion techniques in which a consumer receives a specified amount of money for making a single product purchase (usually more expensive products-people generally hate these and redemption rate is low)

37
Q

Frequent-User Incentives

A

Many firms develop incentive programs to reward customers who engage in repeat/frequent purchases (airline miles, coffee shop)

38
Q

Point-of-Purchase Materials (POP)

A

Signs, window displays, counter pieces, etc. designed to attract attention and inform customers

39
Q

Demontrations

A

Sales promotion methods a manufacturer uses temporarily to encourage trial use and purchase of a product or to show how a product works

40
Q

Free Samples

A

Samples of a product given out to encourage trial or purchase

41
Q

Premiums

A

Items offered free or at a minimal cost as a bonus for purchasing a product

42
Q

Consumer Contests

A

Sales promotion methods in which individuals compete for prizes based on their analytical or creative skills

43
Q

Consumer Games

A

Sales promotion methods in which individuals compete for prizes based primarily on chance

44
Q

Consumer Sweepstakes

A

A sales promotion in which entrants submit their names for inclusion in a drawing for prizes

45
Q

Trade Sales Promotion Methods

A

attempt to persuade wholesalers and retailers to carry and aggressively market a producer’s product

46
Q

Buying Allowance

A

A temporary price reduction to resellers for purchasing specific quantities of a product

47
Q

Scan-Back Allowance

A

A manufacturer’s reward to retailers based on the number of pieces scanned

48
Q

Merchandise Allowance

A

A manufacturer’s agreement to pay resellers certain amounts of money for providing special promotional efforts, such as setting up and maintaining a display

49
Q

Cooperative Advertising

A

An arrangement in which a manufacturer agrees to pay a certain amount of a retailer’s media costs for advertising the manufacturer’s products

50
Q

Dealer Listings

A

Advertisements promoting a product and identifying the names of retailers that sell the product

51
Q

Free Merchandise

A

A manufacturer’s reward given to resellers that purchase a stated quantity of products

52
Q

Dealer Loader

A

A gift given to a retailer that purchases a specified quantity of merchandise; Often used to coerce special display efforts

53
Q

Premium (Push) Money

A

additional compensation to salespeople offered by the manufacturer as an incentive to push a line of goods

54
Q

Sales Contests

A

A sales promotion method used to motivate distributors, retailers, and sales personnel through recognition of outstanding achievement

Marketing 330 (16 decks)

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