Upgrade to remove ads
sales exam 2
Terms in this set (83)
what is attention and how do you get it?
make a connection -> preview value -> identify new steps
must earn attention in the first five seconds, must continue to earn it in 60-second increments
what are the mediums for gaining attention?
third party referral
who manages a prospect's schedule?
what are the approaches salespeople can use to convert attention and interest?
review meeting goals
show that you value customers time
agenda should be flexible
product demonstration approach
give actual product demo
use computer/other visual aid to provide virtual demo
third party opinion or statement adds credibility (aka name dropping)
include name/direct reference to third party
customer benefit approach
immediately point out at least one benefit of your product
present key benefits in order of importance
ask direct question
get prospect thinking about problem your product will solve
listen to response
prospect completes questionnaire before contact
analyze results to assess needs and benefits
avoid early price discussion
"I'd like to give you a sample"
what is an elevator speech and why is it useful?
focuses on the benefit of working with the salesperson
is used to open the door and establish credibility to meet a need
what are four parts of the consultative sales process guide?
1. need discovery (emphasis on questions)
2. selection of the solution (a pivotal point)
3. need satisfaction through informing, persuading and/or reminding (emphasis on statements)
4. servicing the sale (build repeat business)
what goes into the needs discovery stage?
ask appropriate questions
listen and acknowledge customer response
establish buying motive
what are the types of questions salespeople can use in a sales meeting?
survey- information gathering questions, discover buying motives, uncover prospect's buying problem
probing- clarify why prospect's problem is important, help customer realize how a problem can have other consequences
confirmation- assure a mutual understanding of info exchanged
need-satisfaction- shows how your product provides a solution for problem, called 'pleasure' questions
check-in- gives buyer a chance to clarify what you've said
how are open and closed questions different?
open- lends itself to explanations and isn't expecting a specific answer (ex. tell me a little about your needs)
closed- straightforward question with straightforward response (ex. did the recession hurt your sales?)
what should you do if asked a tough question in a sales call?
start with a general reply while formulating your answer
don't fake it!
how can you improve your listening ability?
actually pay attention
show you are paying attention
paraphrase the customer's meaning
how do you demonstrate active listening?
verbal cues (uh-huh, ok, right, I understand)
non verbal cues (nod, smile, take notes)
how do you become a product expert?
know about product history, development, performance, maintenance, provide positive delivery and experience
what are specific areas (product expert) in which you should be knowledgable?
product development and quality improvement processes
performance data and specifications
maintenance and service contracts
price and delivery
product development and quality improvement process
be familiar with product history
know stages of product testing
link key features and customer needs
measuring against standards
extensive sales-force training is key element of quality control
performance date and specifications
know stats, facts, etc about product
important when comparing products
maintenance and service contracts
provide service-related info in proposal or at time of sale
customized service agreement to each buyer
price and delivery
price objections often barrier to closing the sale
clients expect salespeople to be well-verse in price/delivery policies
why do you need to be a product expert?
make a better sale
what goes into a written proposal?
budget and overview
can salespeople know too much about their product? can giving too much info be bad?
angle things to benefit your sale (ex. higher price point)
what is the best way to handle your competition?
avoid referring to competition
never discuss the competition unless you have the facts straight
know the strengths/weaknesses of competing products
be prepared to answer questions about competition
knowing your company entails what?
company culture and organization
company support for product
what is the difference between product development and product quality?
development- history, stages of product testing
quality- measuring against standards, extensive sales-force training is key element
having the authority to make pricing decisions entails what for salespeople?
more power and more responsibility
what is a value proposition?
the set of benefits and values the company promises to deliver and customers to satisfy their needs
what is a feature and what is a benefit?
feature- data, facts, characteristics of product
benefit- advantage it provides a customer
what is product positioning?
decisions and activities intended to create and maintain a certain concept of the firm's product in the customer's mind
what is product differentiation?
the ability to separate yourself and your product from your competitors and their products, key to competitive advantage
how do firms use perceptual mapping?
why is perception important for firms?
what are the stages of a product life cycle?
maturity (highest amount of sales)
what are considerations when creating a pricing strategy?
depends on each life cycle stage
reflects products position in the marketplace
buy more, costs less
price linked to special promotion or advertising campaign
what are the four product dimensions?
basic substantive product you're selling (hotels, soda, insurance)
importance of perception
small addition that adds value
(hotel remembering your newspaper preference, wake-up time)
what is possible
(hotel offering services for business meetings)
what is a customer strategy?
how should organizations treat customers?
what is the difference between consumer buyers and business buyers?
how do organizations approach decisions differently than individuals?
what are the different types of organizational buyers?
don't need you to uncover their needs
focus on needs awareness and helping customer evaluate solutions
companies team up to gain mutual competitive advantage
must first study potential partners
what are the types of organizational buying situations?
new task buy
purchase of minor importance
purchase of moderate importance
more complex choices
new task buy
buying decision is very important and the choice is quite complex
what are the types of consumer buying situations? how are they similar?
low customer involvement
brand differences usually insignificant
low customer involvement
not dissatisfied, just want to try something new
influenced by brand, coupons, price, ads
high customer involvement
expensive, infrequent purchase
what goes into an organizational culture?
reflects firms needs and desires, influences how they make decisions
vary dramatically in how they approach problems involving risk, innovation and change
what are the steps in the buying process?
evaluation of solutions
resolution of problems
needs awareness (added value)
determine problems, identify solutions
evaluation of solutions (added value)
provide information that will help achieve objectives
resolution of problems (added value)
buyers often need help overcoming obstacles that prevent them from moving to purchase stage
purchase (added value)
arrange financing or supervise delivery and installation
implementation (added value)
timely delivery, superior installations, accurate invoicing, follow-up contracts
what are the steps of buyer resolution theory?
why should I buy?
what should I buy?
where should I buy?
what is a fair price?
when should I buy?
what types of group influences have an effect on behavior?
culture and subculture
what did the Asch Phenomenon demonstrate?
Impact of groups and groups norms on individual behavior. You will follow the majority opinion even if it contradicts your beliefs.
what are the different needs in Maslow's hierarchy?
what are the different types of buying motives evident in purchase behavior?
what is a consumption subculture?
distinct groups of people united by a common commitment to a particular set of consumption activities
set of shared beliefs and values
unique jargon and rituals
how will demographic data be used in sales in the future?
how do salespeople create value throughout the buying process?
what are the different buying motives?
acts due to passion, feelings or sentiments
with 2 unique products, salesperson who "connects" has the advantage
acts on reason or judgment
relatively free of emotion
salespeople gather, interpret, and disseminate customer-specific information
buy from a particular firm
past experience positive
buyer believes one product is superior to others
sometimes without direct comparison
YOU MIGHT ALSO LIKE...
MARK 3337 Exam 2
Marketing 3580 Exam 2
MKT 360- Test 2
OTHER SETS BY THIS CREATOR
Consumer Behavior Midterm questions
Consumer Behavior Midterm terms
Sales Exam 3