FOOD & AGRI SALES
FOOD & AGRI SALES AGEC 315
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This 2 page Study Guide was uploaded by Clifford Mertz on Wednesday October 21, 2015. The Study Guide belongs to AGEC 315 at Texas A&M University taught by Kerry Litzenberg in Fall. Since its upload, it has received 87 views. For similar materials see /class/225920/agec-315-texas-a-m-university in Agricultural & Resource Econ at Texas A&M University.
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Date Created: 10/21/15
AGEC 315 Exam Review Chapters 16 This is a study sheet containing the highlights from each of the above chapters Questions on the exam will require you to fully understand both the principles behind each ofthe highlights and the correlation between them Be aware that there may be topics on the test that have not been directly addressed in this study guide It is important to study all class notes in order to fully prepare for the exam In order to help you in your preparation for this exam we have placed two past exams on the web It would be beneficial for you to print and study these exams However do not memorize the answers to individual questions as they or the structure of the question will be different CHAPTER 1 CHAPTER 2 I Understand Business to Business Selling and how it differs from Consumer andor Retail Selling What is the role of selling in a business Characteristics of a good salesperson Understand the different parts ofthe Value Bundle and how it benefits your customer CHAPTER 3 CHAPTER 4 Selling is a Profession Know the characteristics of professional selling 1 C mmon Language 2 Systematic Procedures 3 Body of Knowledge 4 Set of Principles 5 Code of Ethics Dr Litzenberg s two part ethics test Be able to differentiate between Direct and Indirect Responsibilities of Salespeople Be able to describe and explain the differences between the Levels of Selling Selling in the traditional distribution channel Manufacture Distributor Retail or Dealer Producer It is important to be able to describe the differences between them and how selling is involved with and between each of the four stages WNT Understand the benefitsdisadvantages of selling as a profession Types of compensation 3 and the associated levels of risk associated with each Challenges of professional selling Be able to explain the Economic Exchange Model how it helps to explain the reason why people buy Needs Bases Selling Remember that needs are relative not absolute Maslow s Hierarchy of Human Needs 1 Self Actualization CHAPTER 5 CHAPTER 6 Self Esteem Social Needs Security Physiological Understand the differences between each of Maslow s levels and how each relates to selling approaches Customers seldom distinguish between Needs and Wants Therefore the sale will only occur when the customer perceives the total of values exceeds the perceived cost Understand and be able to describe the three types of buyers how each require a different selling approach 1 ationship 2 Economic 3 Business wsww The Buying Decision Process AIATAF Steps 1 Need Recognition Awareness Information Search Interest Evaluate Alternatives Alternatives Choose to Try Trial Adoption Adoption Follow Up Follow Up Post Purchase Dissonance Customer Loyalty Cost Loyalty to Salesperson not to Company CLONEWN Adoption of Technology Know the 5 different kinds of adaptors and how it each require a different selling approach Opinion Leaders Buying Situations 1 New Task Buying 2 Modified Rebuy 3 Straight Rebuy Sales and Marketing process is about CREATING PERCEIVED VALUE in customers mind The total benefits must outweigh total costs Intangible Values Important Can be hard to mana e Include emotions pride prestige status etc Tangible Values Concrete easy to measure Performance of product must exceed at leash the minimums that is acceptable Price Most perceive it as negative but it can be neutralized ifthe customer perceives the value received is greater than the price paid As long as the price is important that is the most important Costs can be decreased by Value Levels
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