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MKT 301 - Ch. 18 - University of Louisville

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Section 1

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Relationship Selling

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Last updated

4 years ago

Date created

Mar 1, 2020

Cards (31)

Section 1

(31 cards)

Relationship Selling

Front

building of mutually beneficial long-term association with a customer through regular communication.

Back

Team Selling

Front

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

Back

Trade Salespeople

Front

mainly help producer's customers promote a product

Back

Top-performing Sales Rep Salaries

Front

often the highest compensation in an organization, even greater than that of many executives.

Back

Disadvantages of Coupons

Front

1. Fraud and misredemption 2. Customer reliance 3. Brand loyalty diminished.

Back

Trade Sales Promotion

Front

Attempt to persuade wholesalers and retailers to carry and aggressively market a product

Back

Order Getters

Front

Sell to new customers and increase sales to current customers.

Back

Preapproach

Front

Finding and analyzing information about each prospect's specific product needs, current use of brands, etc.

Back

Consumer Sales Promotion Methods

Front

Techniques that encourage consumers to patronize specific stores or try particular products. 1. Coupons 2. Cents-Off 3. Refunds 4. Rebates 5. Frequent-User 6. Point of Purchase Materials 7. Demonstrations 8. Free Samples 9. Premiums 10. Consumer Contests 11. Games 12. Sweepstakes

Back

Personal Selling

Front

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

Back

Coupons

Front

Most widely used technique, encourage purchase of specific product

Back

Advantage of Personal Selling

Front

Provides marketers greatest freedom to adjust a message. Most precise form of promotion.

Back

Reasons for Sales Promotion Popularity

Front

1. Customer concerns about value. 2. Retailers have considerable power in the supply chain. 3. Declines in brand loyalty 4. Stronger emphasis on improving short term results

Back

Advantages of Coupons

Front

1. Reward present users/win back former users. 2. Encourage large qty purchases. 3. Traceable

Back

Prospecting

Front

developing a database of potential customers

Back

Sales Promotion

Front

Inducement/Incentive

Back

Support Personnel

Front

1. Missionary Salespeople 2. Trade Salespeople 3. Technical Salespeople

Back

Closing

Front

The stage in the personal selling process when the salesperson asks the prospect to buy the product.

Back

Approach

Front

Manner in which a salesperson contacts a potential customer. 80% of the time, purpose is to gather information about buyer's needs and objectives.

Back

Buying Allowance

Front

temporary price reduction to resellers for products

Back

Overcoming Objections

Front

Must be sought out, and should be handled as they arise.

Back

Technical Salespeople

Front

technical assistance to a firm's current customers

Back

Recruiting

Front

Developing a list of qualified applicants for sales positions

Back

Popularity of Sales Promotion

Front

sales promotion is more heavily used than ever, but at the expense of advertising.

Back

Order Takers

Front

Primarily seek to repeat sales.

Back

Disadvantage of Personal Selling

Front

Most expensive possible element of promotional mix.

Back

Missionary Salespeople

Front

employed by a manufacturer, assist the producer's customers in selling to their own customers.

Back

Types of Salespeople

Front

1. Order getters 2. Order takers 3. Support Personnel

Back

Steps in Personal Selling Process

Front

1. Prospecting 2. Preapproach 3. Approach 4. Making Presentation 5. Overcoming Objections 6. Closing the Sale 7. Following Up

Back

Making the Presentation

Front

Nonverbal modes of communication are especially important to building trust in this step.

Back

Merchandise allowance

Front

manufacturer's agreement to pay resellers certain amts of money for providing special promotional efforts, such as setting up a display

Back