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Selling: Building Partnerships
flashcards for Chapter 1
20
Marketing
Undergraduate 2
02/12/2011

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Term
creativity
Definition
the trait of having imagination and inventiveness and using it to come up with new solutions and ideas
Term
customer-centric
Definition
process of making the customer the center of everything that the selling firm does
Term
customer relationship management (CRM)
Definition
a system to organize information about customers, their needs, company information, and sales information
Term
distribution channel
Definition
set of people and organizations responsible for the flow of products and service from the producer to the ultimate user
Term
emotional intelligence
Definition
the ability to effectively understand and use your own emotions and those of people with whom you interact
Term
field salespeople
Definition
salespeople who spend considerable time in the customer's place of business, communicating with the customer face to face
Term
go-to-market
Definition
the various options that firms have to sell their product. ex: internet, franchises, agents, field salespeople
Term
inside salespeople
Definition
salespeople who work at their employer's location and interact with customers by telephone or letter
Term
integrated marketing communications
Definition
coordinated communications programs that exploit the strengths of various communication vehicles to maximize the total impact of customers
Term
lifetime customer value
Definition
the sum of the customer's purchases over its entire life
Term
manufacturers' agents
Definition
independent businesspeople who are pain a commission by a manufacturer for all products and services the agent sells
Term
missionary salespeople
Definition
salespeople who work for a manufacturer and promote the manufacturer's products to other firms. Those firms buy products from distributors or other manufacturers, not directly from the salesperson's firm
Term
multichannel strategy
Definition
the process of a firm using various go-to-market strategies at the same time
Term
personal selling
Definition
interpersonal communication process in which a seller uncovers and satisfies the needs of a buyer to the mutual, long-term benefit of both parties
Term
sales-force intensive organization
Definition
firms whose go-to-market strategy relies heavily on salespeople
Term
six sigma selling programs
Definition
programs designed to reduce errors introduced by the selling system
Term
trade salespeople
Definition
salespeople who sell to firms that resell the products rather than using them within their own firms
Term
24/7 service
Definition
a phrase that highlights the fact that customers expect a selling firm to be available 24 hours a day, 7 days a week
Term
value
Definition
the total benefit that the seller's products and services provide to the buyer
Term
value proposition
Definition
a written statement that clearly states how purchasing your product or service can help add shareholder value
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