Topic 3: Understanding Buyers Flashcards Preview

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Flashcards in Topic 3: Understanding Buyers Deck (16)
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1

categories of buyers (2)

1. consumer markets
2. business markets (firms, institutions, governments)

2

distinguishing characteristics of business markets (6)

1. concentrated demand
2. derived demand
3. higher levels of demand fluctuation
4. purchasing professionals
5. multiple buying influences
6. closer buyer-seller relationships

3

buying decision process (7)

1. Recognition of a Need 2.Description of Desired Characteristics
3. Determination of Desired Characteristics
4.Search for Qualified Sources
5. Acquisition and analysis of proposals
6. Evaluation and Selection
7. Performance feedback and evaluation

4

needs gap

between the desire state and actual state

5

types of buyer needs (5)

1. situational needs
2. functional needs
3. social needs
4. psychological needs
5. knowledge needs

6

procedures for evaluating suppliers and products (3)

1. descriptive rating
2. performance score rating
3. multi-attribute model

7

buyer evaluation procedures

- modify the product offering being proposed
- alter the buyer’s beliefs about the proposed offering
- alter the buyer’s beliefs about the competitors offering
- alter the importance weights
- call attention to neglected attributes

8

two factor model of buyer evaluation

1. functional attributes
2. psychological attributes

9

types of purchasing decisions

1. straight rebuy
2. modified rebuy
3. new task

10

communication styles (4)

1. low assertiveness
2. los responsiveness
3. high assertiveness
4. high responsiveness

11

low assertiveness

team player
easygoing
avoids risk
cooperate

12

low responsiveness

task-oriented
formal

13

high assertiveness

fast paced
competitive
confrontational

14

high responsiveness

relationship-oriented
emotional
informal

15

communication style flexing

the process by which the salesperson adjusts his/her communication style to fit that of the customers in order to facility effective communciation

16

buying teams (6)

1. initiators
2. influencers
3. users
4. deciders
5. purchasers
6. gatekeepers