Term
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Definition
| creating the type of relationship that best suits the customer's need, which may or may not require a partnership |
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Definition
| the purchase of the same product from the same vendor over time; purchase out of habit |
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Term
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Definition
| an emotional attachment to a brand, company, or salesperson; emotional attachment to Apple products |
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Term
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Definition
| one time sale, no future business, both parties pursue their own self interest. Ex: quick fix of car at car shop. You try to pay the lowest price, mechanic tries to charge the highest price |
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Definition
| long-term market exchanges characterized by behavioral loyalty; the buyer purchases the same product out of habit or routine; previous purchase influences next purchase |
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Definition
| when the buyer's expectations are met and needs are fulfilled |
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Term
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Definition
| buyer & seller have a close personal relationship, buyer and seller work together to solve problems, trust. |
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Term
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Definition
| long-term relationships, partner organizations make significant investments to improve the profitability of both parties, uncover and exploit joint opportunities |
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Term
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Definition
| contracts are absolute, everything in writing |
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Term
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Definition
| contract is a guide, oral agreements are more important, you're "word" is very important |
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Term
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Definition
| the buyer's perception that the salesperson, and the product and company he or she represents, will live up to the promises made, is not something a salesperson can demonstrate immediately. living up to promises |
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Term
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Definition
| demonstrated knowledge of the customer, the product, the industry and the competition. |
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Term
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Definition
| is a belief by one party that the other party will fulfill its obligations in a relationship |
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Term
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Definition
| when you delegate to a group, no one is responsible. When you delegate to an individual you identify an accountable party. |
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Term
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Definition
| the degree to which the salesperson puts the customer's needs first |
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Term
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Definition
| truthfulness, sincerity, being candid |
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Term
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Definition
| least important component of trust but customer wont buy from you if they don't like you. |
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Term
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Definition
| key building block, listen, be aware of cultural differences, relational vs. strategic interaction (best interest of the org) |
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Term
| commitment of mutual gain-mutual investments |
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Definition
| tangible investments in the relationship by both parties |
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Term
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Definition
| structure & culture-organizational structure & mgmt provide the necessary support for the salespeople and buyers in a partnering relationship; training, rewards |
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Term
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Definition
| salespeople locate and qualify prospects; buyers identify sources of supply |
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Term
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Definition
| both parties may explore the potential benefits and costs of a partnership |
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Term
| supplier relationship management (SRM) |
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Definition
| the use of technology and statistics to identify important suppliers and opportunities for cost reduction, greater efficiency, and other benefits. |
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Term
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Definition
| both parties investigate the benefits of a long-tem relationship |
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Term
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Definition
| the customer and seller pledge to continue the relationship for a period of time |
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Term
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Definition
| process of terminating the relationship |
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Term
| knowledge mgmt technology |
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Definition
| use of tech to help salespeople manage all the information required to be effective |
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Term
| relational mgmt technology |
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Definition
| build on customer knowledge mgmt system to create models that can be used to develop strategy |
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