Shared Flashcard Set

Details

CSR 315 exam 2
n/a
58
Other
Undergraduate 3
03/28/2010

Additional Other Flashcards

 


 

Cards

Term
Spin Selling
Definition
Uses situational questions that lead to problem questions that reveals needs
Term
Situation questions
Definition
uncovers buyers existing situation; builds trust
Term
Problem questions
Definition
uncover what is causing the buyer pain while clarifying problem
Term
Need-payoff questions
Definition
Introduce solution and get buyer to explain benefits
Term
Sales presentation
Definition
Gather info, identify prospects problem, prepare presentation sales proposal, confirm the sale, ensure customer satisfaction
Term
Consultative problem-solving approach
Definition
Uncover prospects perceived problems and needs through questioning
Term
FAB
Definition
Features of product, Advantages of how the product solves problems, Benefits
Term
FAb leads to SELLS
Definition

S: show product features

E: Explain its advantages

L: lead into benefits

L: let the prospect talk

Term
VAS
Definition
Value-added selling: shows customers that the extra overall perceived value is greater than what the competitors are showing
Term
Sales presentation format
Definition

Problem

Product

Benefits

Evidence

Summary

Action

 

Term
SAD TIE
Definition

Statistics

Analogies,similies

Demonstrations

Testimonials

Incidents

Exhibits

Term
Adaptive Selling
Definition
stresses the adaptation of each sales presentation and demonstration to fit each individual prospect
Term
Canned selling
Definition
any highly structured or patterend selling approach
Term
Objections
Definition

statements, questions, or actions by the prospect that indicate resistance or unwillingness to buy

objections=10% higher success rate

Term
Valid Objections
Definition

Product objections: concern with features, advantages, and benefits

Price: most frequently raised; show value

Promotion: seller is known not to promote products aggresively; offer special rebates

Term
Latent Objections
Definition
hidden and sometimes too personal or embarrassing for the prospect to reveal so they remain unspoken
Term
Overcoming objections
Definition

Proper attitude

Uncover the objection

Clarify the objection

Acknowledge objection

Handle it

Term
Keystone in the Arch of Resistance
Definition

service contract terms

price

PRODUCT STYLING

delivery terms

lack of accessories

Term
Negotiation
Definition
Mutual discussion and arrangement of the terms of a transaction or agreement
Term
Negotiating Buyer objections
Definition

Put-off: things like price til end

Switch focus: to another model, express experience with product

Offset strategies: turn objection into reason for buying

 

Term
Perceived Value
Definition
Perceieved Benefits/Perceived price
Term
Consistency principle
Definition
series of positive agreements on benefits, clossing will follow=manipulative
Term
Commitment principle
Definition
prepurchase efforts by prospects to learn about a product, tend to increase their committment to buy
Term
Reciprocity principle
Definition
one person does a favor, 2nd person feels obligated to return favor
Term
Social validation principle
Definition
likely to buy when they learn the people and similar companies like them have purchased it= BEST
Term
Clarification close
Definition

1.assume purchase decision has been made so prospect feels compelled to buy

2. Offer alternate products

3. offset objection with important buying benefit

Term
psychologically oriented close
Definition

1.use questions to make it easier for prospect to say yes

2. suggest opportunity to buy is brief

3. Flatter prospect for asking intelligent question

Term
Straightforward closes
Definition

1. Ask directly/indirectly

2. summarize benefits

Term
Buyer-Seller Relationship interactions
Definition

Low: Transactional Selling

Medium: Relationship Selling

High: Strategic Partnerships

Term

Transactional Selling

 

Definition
Short term needs; one time purchase agreement
Term
Relationship Selling
Definition

Cost-efective high value ties= high frequence transactions

Win-win

Term
Strategic Partnerships
Definition
Capitalize on strengths of each othet, cooperation, share expertise
Term
Customer service
Definition

performance of value-added activites designed to enhance the sale and fully satisfying us of a product before,during and after

Perceived service>customer expectations

Term
8Cs of customer Loyalty
Definition
Customization, contract interactivity, cultivation, care, community, choice, convience, and character
Term
Industrial Markets
Definition
Manufacturer markets; buy the most, have most jobs and there's the most money in it
Term
Reseller Markets
Definition
exist for risk minimalization; buy goods and resell to other organizations
Term

Government Markets

 

Definition
Buy and sell goods and services for governing functions
Term
nonprofit markets
Definition
price sensitive; ex: hospitals, universities, nursing homes and prisons
Term
NAICS
Definition
North American Industry Classification System: identify certain industries and firms, better coverage of services like health care
Term
Foundation goods
Definition
major fixed equipment and office equipment; not part of the finished product
Term
entering goods
Definition
Raw materials, part of the finished product
Term
Facilitating goods
Definition
everything you need to continue making the goods; maintenance
Term
Buying Center
Definition

Consists of all people who influence the purchase decision

1. Initiator: recognize problem

2. Gatekeepers: control info; secretary

3. Influencers

4. Deciders: high level managers

5. Buyers: authority to order products

6. Users: people who use product

Term
Types of Resellers: Industrial distributors
Definition

Sell to manufacturers

a.General-line distributors

b. Specialist firms

c. Combination houses

Term
Types of Resellers: Wholesalers
Definition
Sell to retails
Term
Types of Resellers: Retailers
Definition
Sell to consumers
Term
POS
Definition
Electronic point-of-sale systems and in-store computers; resellers have more info about inventory turnover, product performance, cash flow than salespeople
Term
General Services Administration
Definition

purchases goods and services for civilian government agencies

(function like wholesaler and resellers)

Purchases or negotiated contracts or open bids

Term
Defense Logistics Agency
Definition

purchases for the military services

(20% on contracts are awarded on the basis of only 1 bid)

Term

Preferred relationship: Commercial Friends

 

Definition
Interact with salespeople like personal friends, share casual convos and engage in leisure activities=long term
Term
Prferred relationship:Customer Coworkers
Definition
trest salespeople like fellow employee; less intimate but include some personal info= long term
Term
Business acquaintances
Definition
Formal relationship and reliant for economic gain, no interaction beyond business context
Term
Communication
Definition
info and understanding are exchaged between 2 or more people
Term
5 models of communication
Definition

*Listening-40%

Writing-15%

Talking-35%

Reading-10%

Nonverbal

Term
Levels of Listening
Definition

Marginal: hear words but distracted

Evaluative: concentrates but no sensing

Active: recieves and processes message and encourages communication

Active Empathetic listening: Reices verbal/nonverbal message; highest level of listening

Term
Nonverbal
Definition
70% of communication, kinesics: body gestures
Term
Assertiveness & Responsiveness
Definition

Amiables:high responsiveness, low assertiveness

Expressiveness: high responsiveness, high assertiveness

Analyticals: low assertiveness and responsiveness

Drivers: assertive and unresponsive

Term
Ana
Definition
Supporting users have an ad free experience!