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MKT 358

Ch. 1-Personal Selling

a person to person business activity in which a salesperson uncovers and satisfies the needs of a buyer to the mutual, long term benefit of both parties

Ch. 1-Why learn about personal selling? (3)

-The principles of selling are useful to everyone, not just people with the title of salesperson
-Developing mutually beneficial, long-term relationships is vital to all of us
-People in business use selling principles all the time

Ch. 1-Go-to market strategies (2)

-Options firms have in how they can approach customers as they add value
-Selling through the Internet, field sales, representatives, business partners, resellers, manufacturer agents, franchises, telemarketers

Ch. 1-Sales force - intensive organizations

Organizations whose go-to-market strategies rely heavily on salespeople

Ch. 1-Multichannel strategy

Using several strategies at one time

Ch. 1-Communication Methods (y-axis, x-axis and combinations) (6)

Y axis - Paid and unpaid
X axis - Impersonal and personal
(P,I)- Advertising/sales promotion
(U,I)- Publicity
(P,P)- Personal selling/email
(U,P)- Word of mouth

Ch. 1-Communication Methods Strengths (4)

-Firms have more control when using paid vs. unpaid methods
-publicity and word of mouth usually perceived as more credible
-Advertising, Internet sites, and sales promotions give companies control over content and timing
-Personal selling allows more flexibility

Ch. 1-Communication Methods Weaknesses

Personal selling is the most costly method of communication

Ch. 1-Integrated Marketing Communications

Communication programs that coordinate the use of various vehicles to maximize the total impact of the programs on customers (Stouffers)

Ch. 1-Why Do Buyer's Buy? Formula? (3)

-To satisfy a need or a want
-More helpful is to recognize that buyers also buy to make a profit
Value = Benefits received - (selling price + time and effort to purchase)

Ch. 1-Distribution Channel

A set of people and organizations responsible for the flow of products and services from the producer to the ultimate user

Ch. 1-Distribution Channel Chart (2)

1. manufacturer -> industrial salesperson -> business customer
2.manufacturer->Trade sales person->distributor->distributor salesperson->business customer
2b. Manufacturer- (bypass distributor) - Missionary salesperson->business customer

Ch. 1-Business-to-Business channels (2)

-Direct sales to customer
-Sales through distributor

Ch. 1-Trade Salespeople

Sell to firms that resell the products (sell/trade) rather then using them within the firm

Ch. 1-Missionary Salespeople (2)

-"Sell" the product, but firms buy from distributors or other manufacturers
-Frequently call on people who influence a buying decision but do not actually place the order

Ch. 1-Manufacturers' Agents (3)

-independent businesspeople who are paid a commission by a manufacturer for all products or services sold
-Unlike distributors and retailers, agents never own the products
-Simply perform the selling activities and then transmit the orders to the manufacturers

Ch. 2-Ethics (2)

-The principles governing behavior of an individual or a group
-These principles establish appropriate behavior, indicating what is right and wrong

Ch. 2-Ethics and Partnering Relationships (Ethics) (5)

-Partnerships between buyers and sellers cannot develop when salespeople behave unethically or illegally
-Trust deteriorates if integrity becomes questionable
-Legal principles guide market exchange relationships
-increasingly important as firms move to partnerships particularly strategic partnerships
-Basic Principle: Customer remains free to make a choice

Ch. 2-Manipulation

Eliminates or reduces the buyer's choice unfairly

Ch. 2-Persuasion

Trying to influence the buyer's decision, not force it

Company Policies

Code of ethics

Values of Significant others (3)

-Relatives and friends
-Other Salespeople
-Sales manager

A Personal Code of Ethics Rationalizations (4)

-All salespeople behave "this way"
-No one will be hurt by this behavior
-This behavior is the lesser of two evils
-This is the price one has to pay for being in business

Choices You Can Make if Your Manager Asks You to Act Unethically (3)

-Ignore your personal values and do what your company asks you to do
-Take a stand and tell your employer what you think
-Refuse to compromise your principles

Selling Ethics and Relationships (4)

-Principle of fairness
-Equal and fair access to information
-Withheld information or misrepresented information is unfair
-Kickbacks, bribes, and other unethical activities are unfair

Deception (2)

-Telling half-truths
-Withholding important information

Guidelines for Giving Gifts (4)

-Check your motives for gift giving
-Make sure the customer understands no strings attached
-Make sure the gift does not violate either companies' policies
-Safest gifts are inexpensive business items imprinted with the salesperson's company logo

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