Details Title: Chapter 20 Description: CCIII Total Flash Cards: 27 Created: 11/20/2008 06:45:20		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 Marketing Flashcards
Cards in this set: Term Personal Selling Definition Paid Personal (communication) attempts to persuade/inform   Term 7 steps of Personal Selling Process Definition 1) Prospecting 2) Preapproach 3) Approach 4) Making Presentation 5) Overcoming Objections 6) Closing Sale 7) Following Up  Term (1) Prospecting Definition Developing list of potential customers   **constistent activity critical for success  Term (2) Preapproach Definition Before contacting prospects   -salesperson find/analyzing potential's info   Term (3) Approach Definition The manner in which salesperson contacts potential   - referrals (name dropping) - cold calling - repeat contact  Term (4) Making the Presentation Definition *attract & hold prospect's attention *stimulate interest   -talk AND listen - determine needs!  Term (5) Overcoming Objections Definition Seek out objections BEFORE or ask so you can deal     Term (6) Closing Sale Definition salesman asks person to buy product   Term (7) Follow Up Definition reduce buyer remorse   Term Types of Salesperson(s) Definition Order Getter: sells to new & increases sales to old *Current-Customer Sales *New-Business Sales   Order Takers: seeks repeat sales primarily *Inside Order takers: in-office, receive orders *Field Order takers: travel to customer   Support Personnel: facilitate selling; more than just sales  *Missionary: employed by manufacturer assist producer in selling to own customers *Trade: strictly support personnel, restock, etc *Technical: technical assistance to current customers    Term Team Selling Definition team of experts from all areas of firm led by salesperson     Term Relationship selling Definition aka consultative selling   builds mutually beneficial long-term relations  Term Recruiting/ Selecting Salespeople Definition Costs are astronomical vital part of strategic sales force plan     Term Coupons Definition written price reduction   encourages consumers to buy specific product   advantages: effective brand awareness lower cost per redemption   drawbacks: fraud, which is expensive losing value because everyone offers them  Term Cents-off Offers Definition allows buyers to pay less than regular price Term Rebates Definition consumer receives specified amount of money for making a single product purchase Term Frequent User Incentives Definition Reward loyal cutsomers Term Point-of-Purchase Materials Demonstration Definition P_O_P   Signs, Racks, Window Displays (etc) to attract customers  Term demonstration Definition encourages trial use and purchase or shows how product works  Term Free Samples Definition free trial stimulates trial and purchase  Term Premiums Definition offered free or at a minimal cost as a BONUS for purchasing a product  Term customer contest Definition individuals compete for prizes based on analytical skills/ creative skills  Term consumer games Definition individuals compete for prizes based primarily on chance Term Trade Sales promotion methods Definition persuade wholesalers and retailers to carry a producer's products and market them aggressively Term Buy-back allowance Definition sum of money producer gives to reseller   for each unit bought after an initial promotional deal is over Term scan-back allowance Definition manufacturer's reward to retailers based on number of pieces moved through retailers' scanners   during specific time period  Term Definition