Marketing

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Author:
wargodess210
ID:
161754
Filename:
Marketing
Updated:
2012-07-09 15:02:26
Tags:
Chapter Seventeen
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Description:
Personal Selling and Sales Promotion
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  1. Personal selling
    Interpersonal influence process involving a seller's promotional presentation conducted on a person-to-person basis with the buyer
  2. The four sales channels:
    • 1. Over-the-counter selling (online selling)
    • 2. Field selling
    • 3. Telemarketing
    • 4. Inside selling     
  3. Over-the-counter selling
    Personal selling conducted in retail and some wholesale locations in which customers come to the seller's place of business
  4. Field selling
    Sales presentations made at prospective customer's locationson a face-to-face basis
  5. Network marketing
    Personal selling that relies on lists of family members and friends of the salesperson, who organizes a gathering of potential customers for a demonstratoin of products
  6. Telemarketing
    Promotional presentation involving the use of the telephone on an outbound basis by salespeople or on an inbound basis by customerswho initiate calls to obtain information and place orders
  7. Outbound telemarketing
    Sales method in which sales personnel place phone calls to prospects and try to conclude the sale over the phone
  8. Inbound telemarketing
    Sales method in which prospects call a seller to obtain information, make reservations, and purchase goods and service
  9. Inside selling
    Selling by phone, mall, and electronic commerce
  10. Relationship selling
    Regular contacts between sales representatives and customers over an extended period to establish a sustained buyer-seller relationship
  11. Consusltative selling
    Meeting customers needs by listening to them, understanding their problems, paying attention to details, and following through after the sale
  12. Cross-selling
    Selling multiple, often unrelated, goods and services to the same customer based on knowledge of that customer's needs
  13. Team selling
    Selling situation in which several sales associates or other members of the organization are employed to help the lead sales representative reach all those who influence the purchase decision
  14. Virtual sales teams
    Network of strategic partners, suppliers, and others who recommend a firm's goods or services
  15. Order processing
    Selling mostly at the wholesale and retail levels, that involves identifying customer needs, pointing them out to customers, and completing orders
  16. Creative Selling
    Personal selling in which a considerable degree of analytical decision making on the buyer's part results in the need of skillful proposals of solutions for the customer's needs
  17. Missionary selling
    Indirect selling method in which salespeople promote goodwill for the firm by educating customers and providing technical or operational assistance
  18. Sales incentives
    Programs that reward salespeople for superior performance
  19. Prospecting
    Personal selling function of identifying potential customers
  20. Qualifying
    Determining a prospect's needs, income, and purchase authority as a potential customer
  21. Approach
    Salesperson's initial contact with a prospective customer
  22. Precall planning
    Use of information collected during the prospecting and qualifying stages of the sales process and during previous contacts with the prospect to tailor the approach and presentation to match the customer's needs
  23. Presentation
    Personal selling function of describing a product's major features and relating them to a customer's problems or needs
  24. Cold calling
    Contacting a prospect without a prior appointment
  25. Demonstraton
    Stage in the personal selling process in which the customer has the opportunity to try out or otherwise see how a good or service works before purchase
  26. Objection
    Expression of sales resistance by the prospect
  27. Closing
    Stage of the personal selling process in which the saleperson asks the customer to make a purchase decision
  28. Follow-up
    Postsale activities that often determine whether an individual who has made a recent purchase will become a repeat customer
  29. Seven basic managerial functions:
    • 1. Recruitment and Selection
    • 2. Training
    • 3. Organization
    • 4. Supervision
    • 5. Motovation
    • 6. Compensation
    • 7. Evaluation and control       
  30. National accounts organization
    Promotional effort in which a dedicated slaes team is assigned to a firm's major customers to provide sales and service needs
  31. Span of control
    Number of representatives who report to first-level sales managers
  32. Expectancy theory
    Theory that motovation depends on an individual's expectations of his or her ability to perform a job and how that performance relates to attaining a desired reward
  33. Commission
    Incentive compensation directly related to the sales or profits achieved by a salesperson
  34. Salary
    Fixed compensation payment made periodically to an employee (straight salary plan gives managment more control over how sales personnel allocate their efforts)
  35. Sales quota
    Level of expected sales for a territory, product,customer, or salesperson against which actual results are compared
  36. Sales promotion
    Marketing activites other than personal selling, advertising, and publicity that enhance consumer purchasing and dealer effectiveness
  37. Coupon
    Sales promotion technique that offers a discount on the purchase price of goods or services
  38. Refund
    Cash given back to customers who send in proof of purchase for one or more produts
  39. Sampling
    Free distribution of a product in an attempt to obtain future sales; process of selecting survey repsondents or research participants
  40. Bonus pack
    Specially packaged item that gives the purchaser a larger quantity at the regular price
  41. Premium
    Item given free or at a reduced cost with purchases of other products
  42. Contest
    Sales promotion technique that requires entrants to complete a task, such as solving a puzzle or answering questions on a quiz, for the chance to win a prize
  43. Sweepstakes
    Sales promotion technique in which prize winners are selected by chance
  44. Specialty advertisting
    Sales promotion technique that places the advertiser's name, address, and advertising message on useful articles that are then distributed to target consumers (Products name on the item)
  45. Trade Promotion
    Sale promotion that appeals to marketing intermediaries rather than to consumers
  46. Trade Allowance
    Financial incentive offered to wholesalers and retailers that purchase or promote specific products
  47. Point-of-perchase (POP) advertising
    Display or other promotion placed near the site of the actual buying decision
  48. Trade show
    Product exhibition organized by industry trade associations to showcase goods and services
  49. Push money
    Cash reward paid to retail salespeople for every unit of a product they sell

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