Marketing 340 Test 1-3
Marketing 340 Test 1-3
Popular in Course
verified elite notetaker
Popular in Department
This 7 page Study Guide was uploaded by Kevin Cress on Monday February 9, 2015. The Study Guide belongs to a course at a university taught by a professor in Fall. Since its upload, it has received 74 views.
Reviews for Marketing 340 Test 1-3
No all-nighter needed with these notes...Thank you!!!
Report this Material
What is Karma?
Karma is the currency of StudySoup.
You can buy or earn more Karma at anytime and redeem it for class notes, study guides, flashcards, and more!
Date Created: 02/09/15
Marketing 340 Test 1 UNIT 1 Clgss 1 I Intro to Personal Selling a Perceptions 96 negative perception of sales people in 1990 95 in 2000 b Why History and barriers 19301970 dark ages of professional selling People tend to remember the negatives and controversial stuff Very few barriers to entry so people who shouldn t do it sometimes do it c Can it be changed Yes but it would take generations In industries that have bad reputations those that do well will do very well II Selling and sales people a d 6 Why learn about it 1 everyone sells stuff people never change there minds they make a decision based on new information 2 role in marketing communication sales people are conduits by nature they are the link between company and clients 3 role in the marketing mix advertising is to inform and remind people of things more expensive items not usually bought over the internet What do they do i Sell ii Service iii Provide information in both directions Describing sales jobs i News vs Continuing some sell to new business while others sell to existing To the person new business is more profitable Finding new people is hard ii Order takers vs order makers an order taker works behind a register wears uniform has catch phrase Order makers act like small business owners iii Product vs Services service can t be touched or stored If you are good at one you might struggle with the other iv Field vs Inside Field goes to clients inside clients come to them Field is more profitable v Consumer vs Business consumer sell to end user business sales people sell to resellers Characteristics of successful sales people i Motivated 1 Two types one is those who are externally motivated by money and power one is those who are internally motivated which is when you have standards that are above what is expected Internals do better in life then externals and usually have externals work for them ii Dependable your word must be bond no exceptions Must under promise and over deliver iii Ethical iv Customer and product knowledge must know your product very well our generation is very good at this v Flexible you must understand the world is not perfect vi Communication a good communicator is someone who can take a complex concept and break it down so everyone can understand vii Emotionally intelligent if you are EI you can anticipate human behavior before it happens you studied the watch while I studied you Born vs Made a combo of the two but leans more towards made III IV f Rewards of sales i Independence most have control of own calendar people are selfemployed who cannot manage their time will eventually end up working for someone else who knows how to manage theirs ii Responsibility control your own destiny and actions iii Financial most industries the more you sell the more you make iv Sales Management best sales managers are not the best sales people if you are truly great at selling you can t translate it to someone else In class company case Justin Diamond takes a sales course Video ROERIG a What he did well remembered names friendly great time management well grounded b What he did poorly robotic monotone UNIT 1 Clgss 2 1 Building partnering relationships a Types of relationships i Market exchanges one time short exchanges convenience store ii Functional we attack ourselves to vendors buy colgate every time you need toothpaste iii Strategic Partnership when the relationship is so strong that the salesperson acts like they work on the payroll of that company buy colgate but you tell friends to advertise it love it etc b Characteristics of successful relationships i Trust DCCHL dependable competent customer oriented honest likeable ii Open communication ability to tell someone anything without fear of repercussions iii Common goals similar interests iv Commitment to mutual gain feel you can accomplish more together then separately v Organizational support more people believe in relationship besides the 2 parties c Education of personal selling i Production people will buy if its readily available ii Product concept people will buy based on features available iii Sales Concept people will buy based on promotion iv Marketing concept total market divide into target markets and provide offerings to each Goal is to still get total v Partnering Don t care if all people buy but you get repeat from those fewer clients Fewer clients better service 11 InClass Company Case New buyerold account amp one too many III Video How not to sell a The guy in the video sold poorly way too much talking 8020 rule 80 talking by prospect 20 by salesperson UNIT 1 Cont 1 Ethical issues in selling Why the dilemma a Relationship with customers i Deception not telling whole truth lying ii Bribes gifts and entertainment if only reason people buy is because you are giving them something all you have is a temporary customer looking for a better offer 1 3 tips if you entertain be physically there check industry for max amount you are allowed to spend use common sense iii Special treatment it is unethical for one client to benefit directly at the expense of another Treat everyone special iv Confidential information people will tell you stuff they won t tell anyone else have to resist telling people don t want reputation of violating confidence V Backdoor selling unethical to establish a relationship with any company then try to go around it b Relationship within the company i Expense account stupid to lie about expense accounts because you don t make money by cheating there are people who do nothing all day but look for problems in expense accounts it is dangerous to ii Reporting work time activities pulls people away for something that could be more important iii Switching jobs never bad mouth previous employer own decisions you made do not approach clients for previous business exceptions self employed partner in a company with equity company goes bankrupt independent contractor c Relationship with colleagues i Sexual harassment its illegal second fastest growing form of litigation today Do not date coworkers never ends well ii Taking advantage cowardly to take advantage of another rep d Relationship with competitors i Treat competitors with respect and admiration ii Always focus on what you can do not what they can t do 11 In class case Tom Winger a What do you do if you are Tom Winger i Just give him money ii Give him nothing answer is give him 0 and threaten to cancel account UNIT 1 Clgss 2 2 1 Buying behavior and the buying process a Derived demand there is a secondary demand behind it tirescars b Direct demand 11 Cont a Steps in the buying process business and consumers purchase identically with 2 exceptions i Developing product specifications businesses buy on specs and consumers buy on what is available ii Placing an order and receiving product business reorder consumers make another purchase b Types of organization buying decisions i New task new products new vendor ii Straight rebuy same product same vendor iii Modified rebuy change to one not both C Buying center all the players on the buying side i User actually uses product ii In uencer people not on payroll who assist in decision iii Gatekeeper control ows of info to decision maker iv Decider formal or informal buying authority III Video Trade shows a ICX company software company 4 people that work there are i Margo CEO ii Bill VP of sales iii Jennifer VP of finance iv Howard VP of marketing New product called solstice they will be displaying it at a trade show finding a company that specializes in trade shows 3 companies fighting for ICX account i Sally ii Jeff iii Michael Howard meeting with Sally sally took charge right away she handled the visuals badly should have handed him one at once and let him look she described time as blocked off which she shouldn t have Howard meeting with Jeff entire meeting changed when Jeff said ill show you later he should ve said specifically when Howard meeting with Michael said no thanks to coffee immediately organized time talked about marketing a lot used visuals well used the term bridging said exploring phase was good idea said if moving forward makes sense Second meetings i Jeff talked way too much ii Sally made the interview like confession made howard vulnerable called Howard unprofessional iii Michael took notes shows he is listening sign of respect sign of fallability used a lot of bridging said marketing a lot got howard excited Third meeting i Jeff reminded Howard of his emotions asking CEO to be there showed disrespect should have told him the amount of points he was summarizing tell people how long you need to get ready ii Michael said how many points he was going to summarize got the names of Jennifer and Bill iii Sally should have ended the meeting when the phone call happened instead of trying summarize she should not have tried to finish up the over the phone UNIT 1 Clgss 3 1 Personality Types a Analytical uses logic the most Need a reason to go from point A to B Tend to like things in s and s Typical jobs are finance accounting engineering and most of the sciences Jennifer Amiable Believe more in the relationship itself Piggyback on your own confidence and recommendations Typical jobs are nursing teaching most nonprofit jobs most care II III IV taker type positions First of personality types to give up their trust first to take it back Howard c Steady Relator moved by status and image Has to be the newest fastest best most competitive of the personality types Heavily in uenced by celebrities most athletes tend to be steady relators and most extremely motivated sales people Bill d Driver motivated by being in control and not wasting time Want immediate answers to immediate questions Nobody is born a driver Underneath every driver is an amiable who suffered a loss of faith or trust Three ways people interpret information a Visually need to see something to observe it b Auditory Interpret by hearing things Paint word pictures Tell them a long story or a long joke if they have no trouble keeping up with you they are auditory If they break a lot they are visual 95 of the population is either visually or auditory c Kinetically Irrelevant what type of personality type a sales person is a Sally presentation condescending to margo i Compensation technique can t handle objection so you try to minimize it in the big picture People always remember your last remark b Jeff presentation pulls energy out of room Thought margo was personally attacking him Do you really need it by the 1 should have charged more c Michael presentation Howard defends objection Matching or modeling body language technique copying someones body language creates a zone of friendship Free of administrative headaches Finds out she is visual Tell her to go to page 4 leave this with you any questions call me later stand out from the crowd steady relator i technical problems Jennifer ii lead management package Michael Communication Principles a Verbal Messages i Use of Words 1 Characteristics abstract or concrete emotional or neutral 2 Painting word pictures take an image in your brain and place it into others brain so they feel like they are experiencing it 3 Tailoring words to customers if customer is visual you say see observe and demonstrate if auditory say hear announce mention ii Voice Characteristics 1 Speech rate average person speaks at 140 words per minute average person listens at 140 words per minute Until you know how fast someone is listening it is better to speak too fast rather then to slow 2 Loudness try not to use microphones you ll get dependent on technology 3 In ection changing your tone when speaking 4 Articulation if you have words that are hard to pronounce slow down to hit every syllable iii Questions 1 Open ended why questions Questions that cant be answered with yes no or alternative Purpose of open ended is to collect info if you ask more then 3 open ended in a row it has a negative effect because you get frustrated iv UNIT 1 Clgss 3 Part 2 I 2 Closed ended can only be answered by yes no or alternative choice Purpose is to confirm information more then 3 closed ended in a row becomes an interrogation 3 Spacing combination of closed and open ended questions never asking 3 in a row of each type 4 Leading asking a question you already know the answer to Not used in professional selling Other words 1 Listening reactive listeners hear something then respond Activeproactive listeners hear whats being said filter out important info and formulate a response 2 Repeating info word for word no changes 3 Clarifying info take someones words and put them into own personality type clarify info in your head 4 Summarize info summarize to build emotion 5 Silences when somebody goes quiet there are 3 clocks going a Actual amount of silence b How long it appears to sales person c How long it appears to person who went quiet d when someone goes quiet you shut up Nonverbal communication a Body Language things you read in others 1 ii iii iv v Body angle if person is rocking back and forth in a north and south direction that is a positive sign if they are moving from side to side it is a negative sign if someone is leaning forward it is a positive sign if someone is leaning back it is negative Face study eyes to learn a lot Pupils dilate when people are interested when someone looks straight at you they are passively receiving information when people turn head and eyes to the right they are examining logic of what you said when you turn your head to the left you are examining the emotions of what is said when someone is staring straight down they are intensely concentrating which is positive blushing is a sign of anger or embarrassment tightness in cheeks or neck is a sign of tension or anger Arms greater the arm movement the stronger the opinion when someones arms are crossed it is extremely negative Hands palms that are open and relaxed are positive clenched fist is negative Legs for men and woman not wearing skirts uncrossed legs are positive crossed legs and body turned is negative crossed legs alone are neutral b Sending messages nonverbally 1 ii iii iv Face smile naturally Eye Contact sign of respect do it in moderation people who don t make eye contact are perceived to have something to hide Hand movements do not point at audience Posture people interpret product the way you carry yourself if stiff they will think you are in exible and opposite slouchlazy Matching when you copy someones body language to create a zone of friendship Vi Vii 1 Do not match bad body language 2 If they get ahead of you let them go 3 First time you try you will suck Handshakes and touching when you meet someone for the first time you don t extend your hand first let them dictate how they want to be greeted Appearance dress professionally netural meaning do not pull from your message in either direction If you have multiple customers in one day dress the most conservative
Are you sure you want to buy this material for
You're already Subscribed!
Looks like you've already subscribed to StudySoup, you won't need to purchase another subscription to get this material. To access this material simply click 'View Full Document'