Chapter 21

vocab random

100

The most basic application of CRM; the use of various technologies to make the selling function more effective and efficient.

Sales force automation

200

emphasizes predictive analytics; applies to systems and technologies like AI algorithms, to provide insights to salespeople

Marketing automation

300

• processes and technologies that supply customers with information about post- sale activities, including installation, repair, replacement, and technical expertise pertaining to products; “live chat “and the ability to provide a single source for customer problem solving to eliminate customer frustration

Customer service and support automation:

vocab random

100

Objections

excuses for not making the purchase decision or commitment; usually reflect product skepticism or indifference

200

geographical sales organization

• the simplest structure; the U.S. is divided into regions and each region is divided into districts or territories. Salespeople are assigned to each district with defined geographical boundaries and call on all customers and represent all products sold by the company.
• Advantage: minimize travel time, expenses and duplication of selling effort
• Disadvantage: if a company’s products or customers require specialized knowledge then this structure aint the one!

300

customer sales organization 

• Customer sales organization: when different buyers have different needs; a different salesforce calls on each separate type of buyer or marketing channel
• More effective, specialized customer support and knowledge provided to buyers
• Disadvantage: higher administrative costs and some duplication of selling effort

400

product sales organization 

• when specific knowledge is required to sell certain types of products
• Advantage: salespeople develop expertise with technical characteristics, applications and selling methods associated to the different types of products
• Disadvantage: once again, higher administrative costs and some duplication of selling effort

500

These systems are designed with the goal of improving business relationships with customers, creating value for them, assisting in acquiring new customers and current customer retention. Ultimately achieving sales growth for companies. What are they?

Customer Relationship Management

Selling in the personal selling process

100

The Needs Satisfaction Presentation

most consistent with the marketing concept and focuses on relationship building; emphasizes probing and listening by the salesperson to identify the needs and interests of the prospective buyers. Once these are identified, the salesperson tailors the presentation to the prospect and highlights product benefits that may be valued to the customer

200

Adaptive selling

- common approach with the needs based satisfaction format

-involves adapting the presentation to fit the selling situation, such as knowing when to offer and when to ask for more information

-key ingredients: knowledge of the customer and knowledge of the sale situation

300

Consultative selling

• prominent in b2b marketing; focuses on problem identification, where the salesperson serves as an expert on problem recognition and resolution

The salesperson in this case is an expert, so they are providing a consultation and responsible for problem recognition as well as solution

400

Upselling 

• possible when a salesperson is viewed as an expert; the practice of introducing a higher-end product solution other than the one in question
• Underlying intent is to gain customer value

500

Cross-selling

• common when the salesperson is an expert: the practicing of proposing related or complimentary products/ services
• Underlying intent is to gain customer value

Selling

100

The 2- way flow of communication between a buyer and seller, usually a face to face encounter, designed to influence their purchase decision

What is personal selling?

200

Planning the selling program and implementing and evaluating the personal selling effort of the firm

What is Sales Management?

300

The practice of building ties to customers based on a salesperson’s attention and commitment to customer needs over time

Relationship Selling 

400

Processes routine orders or reorders for products that were already sold by the company

Order Taker

500

Identifies prospective customers, provides customers with info, persuades customers to buy, closes sales, and follows up on customers use of product

What is order getter?

Selling Part 2

100

Used when specialized knowledge is needed to satisfy the different interests of individuals in a customer’s buying center; the practice of using an entire team of professionals in selling to and servicing major customers

What is team selling?

200

What is the personal selling process?

• Sales activities occurring before, during and after the sale itself, consisting of 6 stages: (1) prospecting (2) pre-approach (3) approach (4) presentation (5) close and (6) follow-up

300

What is a lead?

The name of a potential customer

400

What is the difference between a prospect and a qualified prospect?

- a prospect is someone who wants or needs the product

- a qualifies prospect is someone who wants or needs it, can afford it, and is the decision maker

500

What is cold calling or cold canvassing? And what are the implications?

When a salesperson opens a directory, picks a name and contacts that individual. It is frowned by many cultures, criticized in the U.S. and now regulated