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Terms in this set (39)
What's a bridge statement?
A statement that connects features to benefits
What is SPN selling?
Asking a lot of questions to a customer during the first meeting to figure out the business
What does RFP (or RFQ) stand for?
RFP- Request For Proposal
RFQ- Request For Quote
Give TWO examples of what could be included in RFP.
Budget & Strategy
If you're trying to add value to a maintenance or service contract, what is the main way to do so?
Customized service agreements; make the customer think you're doing something special for them
Give a specific example of what you can do to be a product expert.
Evaluation of Solutions; salespeople can provide information that will achieve objectives
Give TWO examples of sources for industry expertise.
Industry seminars & trade journals
We don't sell features, we sell _______
What's a decoy?
An option that makes a product look better than the other option
The decisions and activities intended to create and maintain a certain concept of the firm's product in the customer's mind is known as what?
What do we mean when we say "cluster of satisfactions"
A customer doesn't want you to just sell them a product, they want you to sell yourself also
What is SFA?
Sales Force Automated
Give one example of a product selling strategy for a mature/well established product
Emphasize brand superiority
Name one way a firm sets prices
Name another way a firm sets prices
Market share objective
If you remove a part of a product to make it cheaper, what technique are you using?
Name one dimension and matching description of the "Total Product Concept"
Value-added product; the salesperson's knowledge. The Ritz knows your newspaper preference
What does "economies of scale" mean?
The more you produce (the bigger you are), the cheaper it gets
Name something true about consumer buys that is different from business buyers
Consumers purchase for individuals or household's personal consumption
What is it called when a company like FedEx Kinkos hires a 3rd party vendor to manage its many stores' issues?
Give one example of a specifically-business buying situation and its brief description.
Straight Rebuy- salespeople constantly monitor customer satisfaction
What are the middle two steps in the six step presentation plan?
Presentation & Negotiation
What are metrics?
Numerical & quantifiable ways to measure somethiing
Write something true about the Buyer Resolution Theory
Every time a customer buys something they ask themselves a series of questions. We don't know in what order or the level of importance they're asked.
What is the top of the Maslow pyramid?
What is a DBM?
Dominant Buyer Motive; the top reason the customer is buying
What are the four major basic motive types of a consumer?
Emotive, Rational, Patronage, Product
What's the sales term for the group of people made up of current and potential customers?
Give TWO examples of sources of prospects
Referrals & Networking
The fact that we will naturally lose customers over time through no fault of the business is called
The idea of the "Ferris Wheel" talks about three ways to improve the quality of the prospecting effort. What is one?
Increase the number of people who board
What's another way to improve the quality of the prospecting effort?
Shortening the sales cycle by determining what prospects are qualified
Other than a shorter sales cycle, what are the other TWO major benefits of referrals?
Higher close rates & larger sales
Approaching someone you have never met before as a sales person is called what?
Here & now observations
What is a Center-of-Influence?
A person who uses referrals to your advantage
What's a trade association?
Chamber of Commerce
What's the name for those little index-cards where you write your name and information on them, and send them back to the company?
What are the sites like infousa.com and onesource.com good for?
There are four basic questions to ask yourself about QUALIFYING a prospect. What are they?
Does the prospect
- Need my product
- Have the authority to buy my product
- Have the financial resources to buy my product
- Have the willingness to buy my product
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