Marketing Chapter 16 terms

Price packs-

offers consumers savings off the regular price of a product.

Personal selling-

personal presentations by the firm's sales force for the purpose of making sales and building customer relationships.

Trade promotions

sales promotion tools used to persuade resellers to carry a brand, give it shelf space, promote it in advertising, and push it to consumers.

Inside sales force-

salespeople who conduct business from their offices via telephone, the Internet, or visits from perspective buyers.

Outside sales force (or field sales force)-

salesperson who travel to call customers in the field. A company may have an inside sales force or an outside sales force.

Sales promotion

short term incentives to encourage purchases of sales of a product or a service. It offers reasons to buy now.

Territorial sales force structure

- a sales force organization that assigns each salesperson to an exclusive geographic territory.

Sales quotas

- a standard that states the amount a salesperson should sell and how sales should be divided among the company's products.

Salesperson

- an individual who represents a company to customers by performing one or more of the following activities: prospecting, communicating, selling, servicing, information gathering, and relationship building.

Product sales force structure

- if a company has numerous and complex products. Sales people specialize in selling only a portion of the company's products or lines.

Follow up

- the sales step in which a salesperson follows up after the sale to ensure customer satisfaction and repeat business. Salesperson calls customer after sale to make sure everything is working right.

Customer (or market) sales force structure

-a sales force organization in which salespeople specialize in selling only to certain customers or industries.

Business promotions-

-sales promotion tools used to generate business leads, stimulate purchases, reward customers, and motivates salespeople.

Preapproach-

-the sales step in which a salesperson learns as much as possible about a prospective customer before making a sales call.

Compensation consists of four elements:

1. Fixed amount. 2. Variable amount. 3. Expenses. 4. Fringe benefits. Salespeople only spend 11% of their time active selling.

Sales force management-

analyzing, planning, implementing, and controlling sales force activities. Designing sales force strategy and structure> recruiting and selecting salespeople>training salespeople>compensating salespeople>supervising salespeople>evaluating sales people

Sales promotion objectives include

consumer promotions, trade promotions, and business promotions.

Event marketing (or event sponsorships)

creating a brand marketing event or serving as a sole or particpating sponsor or events created by others.

Organizational climate-

describes the feeling that salespeople have about their opportunities, value, and rewards for a good performance

Prospecting-

identifying qualified potential customers.

Closing

the sales step in which a salesperson asks the customer for an order. Salesperson tries to close the sale.

Handling objectives

the sales step in which a salesperson seeks out, clarifies, and overcomes

Presentation -

the sales step in which a salesperson tells the "value story" to the buyer, showing how the company's offer solves the customer's problems. Most important is for salespeople to listen to sell correctly.

Selling process-

the steps that salespeople follow when selling, which includes prospecting and qualifying, preapproach, approach, presentation and demonstration, handling, objections, closing, and follow-up.

Team selling -

used for large accounts. Using teams of people from sales, marketing, engineering, finance, technical, support, and even upper management.

Consumer promotions-

used to urge short-term customer buying or boost customer brand involvement or enhance long-term customer relationships. Include samples, coupons, refunds, premiums, sweepstakes, event sponsorships, and point-of purchase display contests.

Complex sales force structure

when a company sells a wide variety of products to many types of customers over a broad geographic area.

Cold calling-

when salespeople drop in unannounced on various offices.