MKTG 313 Study Guide - Quiz Guide: Marketing Mix, Positive Mental Attitude, Personal Selling
MKT 313 Exam 1 terms
Personal Selling
Occurs when a company representative interacts directly with a customer or
prospective customer to present information about a product or service
3 prescriptions for developing personal selling philosophies
1-adopt marketing concept
2-value personal selling
3-become a problem solver/partner
Inside Salespeople
Those who perform selling activities at the employer's location
Outside Salespeople
Those who travel to meet prospects and customers in their places of business or
residence
Trade Selling
The sale of a product or service to another member of the supply chain
Major developments affecting selling
-major advances in info. technology and electric commerce
-strategic resource is information
-business is defined by customer relationships
-sales success depends on creating and adding value
How much time do people spend in "nonsales selling"?
40%
Marketing Concept
Personal selling involves finding out what the customer needs and then delivering
that
Marketing Mix
1-Product
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2-Price
3-Place
4-Promotion
Evolution of consultative selling
Evolved from the marketing concept and emphasized the role of the salesperson
as someone who could listen to prospect needs and offer solutions in a non-
manipulative way
Identifying needs of the customer=crucial
4 steps of consultative selling
1-Need discovery
2-Selection of solution
3-Need-satisfaction presentation
4-Servicing the sale
Major features of consultative selling
-customer is person to be served
-communication is two-way
-problem-solving is offered
-service is emphasized at every phase
Salesperson doesn't seek to sell so much as to solve the problems of the prospect
in a way that emphasizes service
5 steps to strategic selling
1-develop personal selling philosophy
2-develop relationship strategy
3-develop a product strategy
4-develop a customer strategy
5-develop a presentation strategy
Product Strategy
A plan that helps salespeople make correct decisions concerning the selection and
positioning of products to meet identified customer needs
find more resources at oneclass.com
find more resources at oneclass.com
Document Summary
Occurs when a company representative interacts directly with a customer or prospective customer to present information about a product or service. Those who perform selling activities at the employer"s location. Those who travel to meet prospects and customers in their places of business or residence. The sale of a product or service to another member of the supply chain. Major advances in info. technology and electric commerce. Sales success depends on creating and adding value. Personal selling involves finding out what the customer needs and then delivering that. Evolved from the marketing concept and emphasized the role of the salesperson as someone who could listen to prospect needs and offer solutions in a non- manipulative way. Salesperson doesn"t seek to sell so much as to solve the problems of the prospect in a way that emphasizes service. A plan that helps salespeople make correct decisions concerning the selection and positioning of products to meet identified customer needs.
