Chapter 17

the point at which a consumer and a company representative exchange information and develop learning relationships

Interaction

the process by which consumer information is centralized and shared in order to enhance the relationship between customers and the organization

Knowledge Management

determination of a sales prospect's (1) recognized need, (2) buyer power, and (3) receptivity and accessibility

Lead Qualification

a determination of the customer's specific need sand wants and the range of options the customer has for satisfying them

Needs Assessment

a statement of the salesperson's goals, usually based on sales volume

Quota

a sales practice that involves building, maintaining, and enhancing interactions with customers in order to develop long-term satisfaction through mutually beneficial partnerships

Relationship Selling, Or Consultative Selling

a meeting in which the salesperson presents a sales proposal to a prospective buyer

Sales Presenation

identification of those firms and people most likely to buy the seller's offerings

lead generation (prospecting)

a form of lead generation in which the salesperson approaches potential buyers, without any prior knowledge of the prospects' need or financial status

Cold Calling

developing a product or service offerings customized for the appropriate customer segment and then pricing and communicating these offerings for the purpose of enhancing customer relationships

campaign management

a philosophy under which the company customizes its product and service offerings based on data generated through interactions between the customer and the company

customer-centric

the final step of the selling process, in which the salesperson ensures delivery schedules are met, goods or services perform as promised, and the buyers' employees are properly trained to use the products

follow up

the process during which both the salesperson and the prospect offer special concessions in an attempt to arrive at a sales agreement

negotiation

a process of finding out about potential clients from friends, business contacts, coworkers, acquaintances, and fellow members in professional and civic organizations

networking

a touch point in stores or information kiosks that uses software to enable customers to easily provide information about themselves without feeling violated

point-of-sale interactions

a process that describes the 'homework' that must be done by a salesperson before he or she contacts a prospect

preapproach

a recommendation to a salesperson from a customer or business associate

referral

the set of steps a salesperson goes through in a particular organization to sell a particular product or service

sales process (sales cycle)

a formal written document or professional presentation that outlines how the salesperson's product or service will meet or exceed the prospect's needs

sales proposal

areas of business where customers have contact with the company and data might be gathered

touch points