Marketing Cont. Ch 18

Personal selling offers several advantages over other forms or promotion:

1. Personal selling provides a detailed explanation or demonstration of the product. 2. The sales message can be varied according to the motivations and interests of each prospective customer. 3. Personal selling can be directed only to qualified prospects. 4. Costs can be controlled by adjusting the size of the sales force in one-person increments. 5. Perhaps the most important advantage is that personal selling is considerably more effective than other forms of promotion in obtaining a sale and gaining a satisfied customer.

lead qualification

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

campaign management

involves monitoring and leveraging customer interactions to sell a company's products and to increase customer service.

knowledge management

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

quota

is a statement of the salesperson's sales goals, usually based on sales volume alone but sometimes including key accounts, new accounts, repeat sales, and specific products.

lead generation (prospecting)

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

negotiation

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

interaction

occurs when a customer and a company representative exchange information and develop learning relationships.

needs assessment

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

customer centric

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

preapproach

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

referral

a recommendation to a salesperson from a customer or business associate.

learning

an informal process of collecting customer information through comments and feedbacks on product and service performance.

touch points

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

Sale's Manager must:

• Define sales goals and the sales process • Determine the sales force structure • Recruit and train the sales force • Compensate and motivate the sales force • Evaluate the sales force

Evaluating the Sales Force

• Performance evaluations allow managers to review the strengths and weaknesses of the sales force. • This information can then tell a manager what sales skills might need to be reassessed or retrained.

The Sales Force:

•Strong Ego •Sense of Urgency •Assertiveness •Sociable •Risk Taker •Intelligent •Creative •Empathetic •Relationship Oriented