mktg 321

What is golden silence, and why is it referred to that way?

1. Golden silence is very important. Golden silence is similar to effective listening. Golden silence is a great tool. To practice golden silence the salesperson has to have a 5 second pause after they ask the question or after they receive a response to a question. This is a valuable technique in the sales process. Golden silence is referred to this because "You learn when you listen, not when you are talking" (Brauer, 63). This silence is needed to better figure out what the buyer is looking for and understanding their wants and needs.

In an academic survey, what were the top two criteria judged to be the most important attributes of great salespeople

1. Honesty and trust 2. Relationship building skills

What is relationship tension?

1. Relationship tension is "the initial apprehension that is felt between individuals when meeting for the first time. Typically, as time goes on, the pressure decreases, and the relationship becomes more comfortable and natural" (Brauer and Brauer, 59). This tension is created from a new situation and is a concern that is created early in the relationship.

What is Trust Tension?

1. The concept of trust is very important in a sales career. "Trust needs to be established bilaterally" ((Brauer and Brauer, 49). Trust tension is when one meets someone knew and is trying to evaluate if they can trust this person. One is examining this new person and trying to figure out if they feel like they can view them as a trustworthy individual.

The success in building relationships relies on four factors. What are they?

1. The manner in which you conduct yourself 2. Your ability to create a link or a common point of interest 3. The motives you demonstrate why you are there 4. Your competence

How does trust tension and relationship tensions interact?

1. Trust tension and relationship tension interact because every relationship needs trust. Once someone is seen as trustworthy the relationship tension will then decrease. In sales, the salesperson needs to be seen as trustworthy so the customer and the salesperson can form a relationship.

What is the definition of a commodity provider?

20-30% The commodity provider is the third lowest level on the relationship pyramid. Both the salesperson and the product or services are viewed as a commodity. Price drives your success. You never get a second look. Forty to fifty percent of salespeople are seen as commodity providers Customers do not share any strategic plans or concerns with you. You're often the last one to know that a request for a proposal is out.

What is the definition of the milestone in the relationship pyramid?

A milestone is the lowest level on the relationship pyramid. The individual adds no value and their opinion is meaningless to the customer. No one wants to deal with the milestone. If a milestone provides a proposal that is better than the competitors, the competitor will be given another chance to improve their offering. Typically, 10% of salespeople as in this role.

What are some positive attributes of getting a "no" from a buyer

A no response will force you to find out why. If it is something you can correct, they may become a prospect. If it is something uncorrectable, it allows you to move on to your next prospect.

An anti-sponsor wants to see anyone, but the incumbent, be successful? True or false?

Antisponr: does not want you or your organization to be successful. There may be a hidden agenda. A with the coach, this person can be anywhere. They usually have another agenda they they support and are the coach to your competition.

Provided three examples of personal issues of a buyer?

Be seen as a contributor to the organization... be viewed as a problem solver.. Gain a higher degree of credibility... increased recognition by peers or superiors. Create a leadership role... increased power or influence... greater self-esteem... create a potential growth situation... increase in social or professional status... increased responsibility.. Make thing sless complicated... gain more flexibility

Sales organizations usually prohibit several activities. Name four of these activities

Bribes Kickbacks Conspiracy Defamation

what are bribes

Bribes are money, or other types of compensation, to an individual in order to influence/and or change their decision process

What is a key reason to be an expert in time management

By eliminating your time wasters, you will have time to handle those things important to your success.

What does the mnemonic COVE represent

C- closing questions O- opinion questions V- validation questions E- exploration questions

What is the difference between conspiracy and collusion

Conspiracy: is the secret of two or more individuals or organizations agreeing to commit an illegal or wrongful act collusion : is a secret agreement to limit competition through a deceitful act

Provide a definition of ethics

Ethics can be defined as the morality of one's behavior. It is the established convention that dictate how an individual or group responds or behave

How do you move a buyer form uncertainty to certainty?

Good solutions are viable alternatives that allow one to move from a level of uncertainty to a level of certainty. To succeed you have to know what issues are important to your customer and if you can solve those issues, you will gain your customer business. Construct the solution on how you will fix future problem

How are honesty and integrity intertwined

Honesty means telling the truth and being true in what you say. Integrity is based on honesty and means possessing moral principles. Integrity occurs when you are keeping your word. Integrity is based on honesty.

Identify the basecamps on a sales expedition

Identify the ideal customer profile→ developing the profile of your ideal customer Evaluate leads Prioritize your prospects Discover needs and issues Create a win win situation Have a trial close Handle objections Validate everything Obtaining commitment Follow up Obtain referrals

What is the role of a gatekeeper

In charge of a gat that allows for the flow of information or individuals. Beyond the technical buyer there are other potential gatekeepers in an organization. The gatekeeper may be a receptionist, an administrative assistant, a personal assistant, or a secretary. They can be anyone who can block you from access to information or individuals that you need to meet to be successful in your solicitation

The needs of a buyer are divided into business and personal issues. Describe the three subsets of business issues and gives example of each

Market issues: new competitors entering the market, competitors emerged, new market trends, changes in governments regulations or economic climate. Bad press, global events Financial issuesL increasing or decreasing market share, growing or eroding margins, energy cost, cost of raw materials, labor cost Operational Issues: limitation on capacity, lack of skilled workers, restructuring issues, IT issues, leadership issues, facilities closing or opening, budget constraints

Name the four levels of the relationship pyramid from bottom to top

Milestone Commodity provider Strategic Expert Valued Advosiors

What are some reasons to have a prepared script for a meeting

Most effective way to begin a meeting or to handle comments. It helps kick off a meeting with you in control. Scripts keep you focused and consistent. Your scripts need to constantly evolve and adapt to the situations.

How many economic buyers can there be and who are they?

One Economic buyer is the one individual who have the ability to say no when all others say yes is the economic buyer. This individual has final approval and is necessary to complete the sale. They usually control the purse and are focused on the larger picture. They are sometimes difficult to access because of their position and multiple demands on their time. They will be focused on the bottom line as it impacts the organization. If possible they like to spreadsheet the decision The number one cause of an unsuccessful sales solicitation process it due to inability to identify and ro meet the economic buyer

What is the difference in the response to an open or closed question? open ended

Open questions→ these questions are meant to obtain responses that help you gather information for further discussion and give you a view into your buyers thoughts

Good service stories are not told as frequently as poor service stories. How many more times is a poor service story told

Poor service is told much more than good service. With research I have seen that when an American experiences good service they tell about nine people. When Americans experience bad service, they tell about 16 people. This means when Americans experience bad service they tell almost twice as many people.

What is the difference between price and cost?

Price is simply the monetary value of the product or service. It does not include any other costs associated with them or caused by them. Cost includes not only the price of the product or service, but also the dollars associated with changing product or service, guarantees and warranties associated with a product or service, longevity of the product or service, and other features and benefits of the products and services.

What is a coach

The position of the coach can have a profound impact on your success. This is the individual who wants you to win. This person can be located inside of the buying organization. Inside your brown organization, or outside of both organizations. The coach wants to act as a guide for you in the sales process. They, as your advocate, will provide you critical information and insight. The coach may be someone in the role previously discussed or someone entirely different. They will provide information and interpret information about the situation and buying influences. Their focus is one seeing your succeed. A coach must have credibility with the customer.

What is a technical buyer?

The role of screening supp;iers based on their ability or inability to meet requirements is that of the technical buyer. This buyer wuk judge the quantifiable and measurable aspects of what you are proposing. They deal in black and white. You either meet the requirements or you do not. Sometimes, they can be viewed as a gatekeeper by blocking access to key decision-makers. They never have the ability to give final approval, and are only focused on whether or not what you are suggesting meets their requirements.

What is the definition of a strategic expert?

The strategic expert is the second from the top level on the relationship pyramid. The salesperson is respected for their knowledge and often is used as a surrounding board by the customer. Typically, the relationship is limited to specific strategic or tactical situations. The strategic expert can be subjected to competitive situations and will infrequently get the last look. Twenty to thirty percent of sales people are in this role.

What is the difference between the two dimensions?

The x axis corresponds to assertiveness, while the Y axis corresponds to responsiveness.

The Merrill and Reid Social style concept looks at two dimensions of social syles and four types of social styles. What are they?

Their study had two social dimensions of assertiveness and responsiveness and four types of social styles, analytic, driver, expressive, and amiable.

What does the mnemonic CUTE represent?

There are various types of buyers and they can be remembered the this mnemonic. This includes coach, user buyer, technical buyer, and economic buyer.

What is a user buyer

These individuals will be living with the impact that your product or services makes or changes at their organization. Their role is to assess how your product or services will impact job performance and operations. They can have a negative impact on your success if they do not want change or do not like your service or team. Even though they don't have final authority, other buyers normally delay their opinion until they hear after from the user buyer. These are individuals who are using or supervising a product or service and the users attitude and ability to implement it.

What is the definition of a valued advisor?

This is the "legacy" salesperson. They are the top 10% of the industry. The customer views them as a member of the decision making process. They are privy to internal operations and information that other outsiders are not. They are always given multiple "last looks"

Most calls should have a valid business purpose and minimum and maximum expectations. True or false?

True

Complete the following. The strength of a relationship is based on the degree of ----- that is eliminated by the salesperson. ---- is built when uncertainty is reduced.

Uncertainity Trust

What are the two top reason salespeople avoid prospecting

Unpreparedness or the fear of rejection You need to have an in-depth knowledge of their organization and the services as well as the products that they are offering. Preparedness includes talking with other salespeople in your organization to understand common questions that will be asked.

When do you use closing questions?

When you need to access your position. These questions determine where you are and move you toward a final close Example: "You agree that we have met all of the concerns of your remodeling project so we can begin next week?"

What is the value of creating a profile of an ideal customer

Will enhance the effectiveness of your sales efforts. The more demographics that can be associated with your ideal customer, the more clear necessary actions will become. As a salesperson you have limited resources, and you will not have time to spend on low priority prospects. Your success ration will be enhanced when the similarity of your top prospects are closest to the profile of your ideal customer. The profile will be key when you prioritize prospects.

This is one of the four social style types. The --- is low on assertiveness and high on responsiveness. They prefer to avoid conflict and are good with people. Their position on the grid is the bottom left quadrant.

amiable

When an individual is low on assertiveness and high on responsiveness they are

amiable Seen by others as good with being with people, and they will avoid conflict whenever possible. Their preference is to work in a team and they are typically deependable. When they make a decision, it is typically done with consensus of other

This is one of the four social types. They are lower in the assertiveness and responsive scales. They are task oriented and do not like to make a mistake. Their position on the grid is the top left quadrant.

analytic

When an individual is low on assertiveness and responsiveness they are some traits

analytical Avoid direct eye contact, and are most at ease when they are checking and double-checking data. Their environment is usually very neat and well organized. They greatly dislike being wrong and will spend an excessive amount of time making sure things are correct

business defamation

defamation occurs if you make false comments about a competing organization, their products or services

This is one of the four social style types. The ----- is high in assertiveness and lower on responsiveness. They are pragmatists with a high degree of focus on results. Their position on the grid is the tope right quadrant

driver

When an individual is higher on assertiveness and low on responsiveness they are

driver Their focus is on tasks and not people, and they expect others around them to act the same. They are not concerned with how others respond to their methods, and do not place a high degree of importance on building relationships. They work with others as a means to an end and not because they enjoy it. If their words or action upset other people, it does not concern them.

What is expense report kitting

expense report kiting, or padding occurs when an individual intentionally inflates the value of the expenses to be greater than was actually incurred

this is one of the four social style types. The ---- is high in assertiveness and responsiveness. They are typically very articulate and enthusiastic. They spend their energy on trying to get their vision accomplished. Their position on the grid is the bottom right quadrant.

expressive

When an individual is high on assertiveness and responsiveness they are Some of their traits are?

expressive' They are articulate and enthusiastic individuals. Their style focuses on the future and they spend their energy on things that will achieve their vision. They will act based on their own opinions or on the opinions of other, not necessarily factual. They speak quickly, leaning forward into someone's space, have a non-monotone voice, and strong eye contact.

responsivness

is an indicator of how good your poker face is. You are said to be highly responsive if it easy to read your body language and your words readily describe your feeling about things

conspiracy

is the secret of two or more individuals or organizations agreeing to commit an illegal or wrongful act

kickbacks

kickbacks are form of bribery briber where a buyer may receive remuneration based on the amount of product or service then buy from the salesperson

What activity feeds successful salespeople and their organizations

prospecting

What is the difference in the response to an open or closed question? close questions

provide you with very limited information. The information gathered is typically a singular confirmation or some topic or issue.

asertivness

s the degree to which the individual tries to convince others of their point of view. An individual who is highly assertive demands rather than asks

Describe the journey of the sales expedition

the concept of a sales expedition is to create a more accurate visual representation of the sales process as compared to a sales funnel. On a sales expedition the leads begin at the base and work their way to the top as the criteria for each basecamps are met. Each step is important and builds on the previous one. You can not move to the next level until you satisfy the requirements of your current level. The sales expedition derives its name from the journey. There is alot to accomplish before you begin. Success depends on how you accomplish each step. Expeditions like the sales process, begins with understanding your purpose and your destination Plan for the unexpected. The more time you spend in preparation, the more likely you can overcome problems. You needed to be prepared for the expected and unexpected. In sales you need a well-defined plan of the journey and how various challenges will be handled.