MKT 504 Study Guide - Midterm Guide: Reference Group, Organizational Culture, Customer Relationship Management
28 Jun 2013
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Document Summary
Chapter 1: relationship selling opportunities in the info economy. Personal selling: person-to-person communication (informing, reminding, persuading) with prospective customer about a product/service; develop relationships, discover needs, match products with needs; adds value. Product: broadly interpreted to encompass physical goods, service, and ideas. Personal selling philosophy: adopt marketing concept, value personal selling, become a problem solver/partner to help customers make better buying decisions. Selling 2. 0: using info technology tools + innovative sales practices to create value by improving speed, collaboration, customer engagement, and accountability of sales process. Value-added selling: improving sales process by offering advice & product solutions, managing customer relationships, and providing service after sale. Tasks performed by salespeople: administrative, sales prep, face-to-face selling, travelling*(mostly this) Psychic income: factors that provide psychological rewards; satisfy need for recognition & security. Inside salesperson: performs selling activities at employer"s location, typically via phone & email. Outside salesperson: travels to meet prospects/customers in their place of business.
