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Chapter 20
CCIII
27
Marketing
Undergraduate 1
11/20/2008

Additional Marketing Flashcards

 


 

Cards

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 

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