Shared Flashcard Set

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BUS 466 - Personal Selling
Ch. 7
24
Marketing
Undergraduate 4
03/09/2012

Additional Marketing Flashcards

 


 

Cards

Term
importance of prospecting
Definition
experts believe its the most important activity a salesperson does; world is constantly changing; no salesperson can ignore leads
Term
lead vs. prospect
Definition
something that is out there vs. has shown interest. they have been qualified.
Term
characteristics of good prospect
Definition
does a want/need exist? does the lead have the ability to pay? does the lead have the authority to buy? can the lead be approached favorably? (will they take the time to work w/ you/) is the lead eligible to buy? (volume, status, territory)
Term
satisfied customer
Definition
are most effective source for leads
Term
to maximize usefulness of satisfied customers
Definition
make a list of potential references from among satisfied customers, decide how each customer can help, ask for the names of leads and the specific type of help needed. Keep in touch
Term
referral events
Definition
gatherings designed to allow current customers to introduce prospects to the salesperson, to generate leads
Term
selling deeper
Definition
additional sales to satisfied customer who provide leads
Term
negative referral
Definition
customer who tell others about how poorly you or your product performed
Term
network
Definition
salesperson uses personal relationships with those who are connected and cooperative to secure leads.
Term
suggestions for networking
Definition
mingle at events, call at least 2 ppl per day, learn about your prospects, thank you letters
Term
center of influence
Definition
sales person cultivates well-known, influential ppl in the territory who are willing to supply lead info, buying community, may never buy
Term
networking - the internet
Definition
salesperson uses web, email, forums to secure leads. ex: e-selling, extranets
Term
networking - ads and direct mail
Definition
salespeople use these forms of promotional activities to generate leads. ex: postcard pack, bounce-back cards
Term
shows, fairs, merchandise markets
Definition
salespeople use these venues for lead generation, all attendees are customers, timely follow-up of leads is critical if sales follow as show
Term
seminars
Definition
salespeople use them for prospects to generate leads, appeal to a specialized market, invite good prospects, be involved before, during, and after
Term
lists and directories
Definition
salespeople use secondary date sources, which can be free or fee based; SICs (standardized industry classification) and NAICS, purchasing lists
Term
data mining and CRM system
Definition
salespeople use sophisticated data analysis software and the company's CRM system to generate leads, interactive databases
Term
cold calling
Definition
salesperson tries to generate lads by calling on totally unfamiliar organizations; a blitz
Term
spotters
Definition
salesperson pays someone for lead information, also called bird dogs
Term
telemarketing
Definition
salesperson uses-phone and/or _______ staff to generate leads; outbound vs. inbound telemarkeing, overseen by FTC
Term
sales letters
Definition
salesperson writes personal letters to potential leads, follow up w/ a telephone call, include promotional items
Term
other sources of leads
Definition
personal observations, nonsales employees w/in the salesperson's firm, gov't agencies, etc
Term
reasons for reluctance to talk to prospect
Definition
worrying about worst-case scenarios, spending too much time preparing, being overly concerned w/ looking successful, being fearful of: making group presentations, appearing too pushy, losing approval
Term
overcoming a reluctance to prospect (helpful activities
Definition
identify and evaluate excuses not to call, engage in sales training and role-playing, make prospecting contacts w/ a supporting partner, set goals, make it a game
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