Details Title: approaches to sales and selling Description: terminology Total Flash Cards: 30 Created: 07/05/2009 23:15:08		New Users: To study from this flashcard set, or to create your own your own study flash cards, REGISTER HERE. Existing Users: CLICK HERE. Additional Business Flashcards
Cards in this set: Term technical selling Definition selling that requires a company's sales representatives to impart detailed technical information to their customers Term missionary selling Definition selling that occurs when a salesperson educates customers, builds goodwill, and performs promotional activities to encourage them to purchase a product at a later date Term agent Definition a person or intermediary acting on behalf of final customers Term creative selling Definition selling that requires salespeople to combine their technical knowledge and personal selling experience to craft creative and unique ways to better meet the needs of their customers Term trade selling Definition selling done through intermediaries, such as wholesalers and retailers, which manage the sale of a company's products to other companies Term retail selling Definition selling to the final customer Term telemarketing Definition a sales method used to contact prospective customers exclusively by phone Term prospects Definition potential customers for the goods and services a salesperson is offering Term cold call Definition the first contact a salesperson has with a customer, either by email, phone, or in person Term buyer's remorse Definition a phenomenon that occurs when a customer believes he or she made a poor purchasing choice Term customer relationship management system Definition an IT-based knowledge management system designed to track a company's customers- what they are buying, how satisfied they are, and how their demands are changing Term operations Definition a company's system of value-creation activities used to transform inputs into finished goods and services Term materials management Definition the set of activities that control the flow of resources into and out of a firm's operating system Term maquiladoras Definition US companies' manufacturing plants in cities along the Mexican border Term inventory Definition the resources- materials, supplies, and goods- a company holds in stock Term work-in-process goods Definition the semifinished goods and services that move through a company's production process Term distribution costs Definition the cost of getting products to customers Term small-batch production Definition an operating system designed to make one-of-a-kind or small quantities of customized products Term customized products Definition products designed to match the needs of individual customers Term mass production Definition an operating system based on the use of automated machines and standard operating procedures to make work routine and create a large number of standardized products Term standardized products Definition identical products Term flexible production Definition an advanced operating system that combines the benefits of mass production with the benefits of small-batch production Term computer-integrated manufacturing Definition a manufacturing technique that controls the changeover of machines from one operation to another via computer software Term flexible work team Definition a team of self-managed employees who assume responsibility for performing the operating tasks necessary to make a part, or all, of a product Term production layout Definition the way teams of employees are physically grouped into work cells or pods to assemble a product Term total quality management Definition an operations technique used to continuously improve the production process, increase the quality of products, and help companies lower their operating costs Term quality control circles Definition team meetings in which production employees discuss ways to improve operating quality and productivity Term Human resources Definition the people a company employs, from its CEO and top managers, the middle managers throughout its functions, to its nonmanagerial employees Term Human resource management Definition the set of activities designed to recruit high-quality employees and then improve their skills and capabilities Term performance appraisal Definition the task of accruately identifying differences in the level and quality of the work employees and providing them with feedback that increases their performance levels