MGT 103 FINAL CH 9,10,11,13,14,15,16,18,19,20,21
STUDY GUIDE
Personal selling - Business to customer - Answers - People in "sales" that go to hoiuses
to sell
Transactional selling - Answers - a form of personal selling that focuses on making an
immediate sale with little or no attempt to develop a relationship with the customer
Relationship selling - Answers - Process of building long term customers by developing
mutually satisfying, win- win relationships with customers, building trust and
commitment to customers need over time.
- focus on creating a relationship
- getting to know you
Who excels at personal selling - Answers - -personal trainers - therapist - people who
have clients
inside sales - Answers - from a desk, personalized
Outside sale - Answers - Sales read visiting locations, personalized, selling products
into retail stores, setting up display
Order taker - Answers - Sales person who collects orders but does not attempt to find
new customers or persuade existing costumers to increase the size or frequency of their
orders
responsibility of order taker - Answers - To preserve an ongoing relationship with
existing customers
- ex. Call on stores to ensure the snacks are adequate
- ex. Assisting callers with their purchase decisions.
Order getter - Answers - Sales person who increase the firms sales revenue by
acquiring orders from new customer and more orders from existing customers
Responsibly of order getter - Answers - Trying to get new customers to get more orders
Stages and objectives of the personal selling process - Answers - 1. Prospecting
2. Preapproach
3. Approach
4. Presentation
, 5. Close
6. Follow-up
Stimulus response presentation: - Answers - given the appropriate stimulus, the
customer will buy (suggestive selling)
Ex- when McDonald's asks if you want fries or a meal with your order . This counts as
suggestive selling
formula selling presentation - Answers - information must be provided in step-by-step,
thorough, accurate manner (canned sales presentation)
Ex. -used in firms and door to doors
need-satisfaction presentation - Answers - probing and listening, identifying
needs/interests (adaptive selling)
Tailors the presentation to the prospect and highlighting products benefits that may be
valued by the prospect.
Ex.-
Techniques from handling objections - Answers - -Acknowledge and convert - yes and
this is why
-Postpone- ill get to it later
-Agree and neutralize - explain why it isn't a problem
-Accept the objection- learn from them
-Denial- prevent misinformation
- ignore the objection- if meant as stalling technique
many-to-many model - Answers - buzz building, social media
groundswell - Answers - a social trend in which people use technology to get the things
they need from each other rather than from traditional institutions like corporations
Crowdsourcing - Answers - generating insights leading to actions based on ideas from
massive numbers of people
Example of crowdsourcing - Answers - A practice when firms outsource marketing
activities to a community if users
- creating the next potato chip favor
- the flavor would be release in the Super Bowl.
Crowdfunding - Answers - Gathering an online community of supporters to financially all
around a specific project unlikely to get resources from traditional funding ( banks,
venture captial firm)
STUDY GUIDE
Personal selling - Business to customer - Answers - People in "sales" that go to hoiuses
to sell
Transactional selling - Answers - a form of personal selling that focuses on making an
immediate sale with little or no attempt to develop a relationship with the customer
Relationship selling - Answers - Process of building long term customers by developing
mutually satisfying, win- win relationships with customers, building trust and
commitment to customers need over time.
- focus on creating a relationship
- getting to know you
Who excels at personal selling - Answers - -personal trainers - therapist - people who
have clients
inside sales - Answers - from a desk, personalized
Outside sale - Answers - Sales read visiting locations, personalized, selling products
into retail stores, setting up display
Order taker - Answers - Sales person who collects orders but does not attempt to find
new customers or persuade existing costumers to increase the size or frequency of their
orders
responsibility of order taker - Answers - To preserve an ongoing relationship with
existing customers
- ex. Call on stores to ensure the snacks are adequate
- ex. Assisting callers with their purchase decisions.
Order getter - Answers - Sales person who increase the firms sales revenue by
acquiring orders from new customer and more orders from existing customers
Responsibly of order getter - Answers - Trying to get new customers to get more orders
Stages and objectives of the personal selling process - Answers - 1. Prospecting
2. Preapproach
3. Approach
4. Presentation
, 5. Close
6. Follow-up
Stimulus response presentation: - Answers - given the appropriate stimulus, the
customer will buy (suggestive selling)
Ex- when McDonald's asks if you want fries or a meal with your order . This counts as
suggestive selling
formula selling presentation - Answers - information must be provided in step-by-step,
thorough, accurate manner (canned sales presentation)
Ex. -used in firms and door to doors
need-satisfaction presentation - Answers - probing and listening, identifying
needs/interests (adaptive selling)
Tailors the presentation to the prospect and highlighting products benefits that may be
valued by the prospect.
Ex.-
Techniques from handling objections - Answers - -Acknowledge and convert - yes and
this is why
-Postpone- ill get to it later
-Agree and neutralize - explain why it isn't a problem
-Accept the objection- learn from them
-Denial- prevent misinformation
- ignore the objection- if meant as stalling technique
many-to-many model - Answers - buzz building, social media
groundswell - Answers - a social trend in which people use technology to get the things
they need from each other rather than from traditional institutions like corporations
Crowdsourcing - Answers - generating insights leading to actions based on ideas from
massive numbers of people
Example of crowdsourcing - Answers - A practice when firms outsource marketing
activities to a community if users
- creating the next potato chip favor
- the flavor would be release in the Super Bowl.
Crowdfunding - Answers - Gathering an online community of supporters to financially all
around a specific project unlikely to get resources from traditional funding ( banks,
venture captial firm)
