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First and second Class notes

by: odette antabi

First and second Class notes Mkt 340

Marketplace > University of Miami > Mkt 340 > First and second Class notes
odette antabi
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About this Document

Unit one notes including cases and videos part of the study guide for the exam!
Professional Selling
Ian Scharf
Class Notes
study guide sharf notes 1st week exam midterm um mkt340 unit1




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This 4 page Class Notes was uploaded by odette antabi on Sunday February 7, 2016. The Class Notes belongs to Mkt 340 at University of Miami taught by Ian Scharf in Spring2015. Since its upload, it has received 44 views.

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Date Created: 02/07/16
Unit 1 I. Intro to personal selling A. Human perception  People tend to remember controversial or negative events B. Barriers  There is no homogeneous way to reach all the personal sellers  There are few barriers to entry the sales area  Its easier to become a good seller than a good attorney or doctor  Everyone can sell C. Can it be changed: Slow process to change . it would take generations II. Selling and Sales people A. Why learn? 1. People never change their minds. They make a new decision based on new info 2. Role of markets and communication. Sellers are conducts between the company and clients 3. The role that plays in the marketing mix. The four P’s 5 ways to promote yourselves 1. Personal selling 2. Advertising (inform, remind, does not persuade) 3. B. What do they do?  Sell (hunter)  Service (farmers)  provide information in 2 directions. Company to client and client to company They sell to:  existing or continued customers  new customers C. Describing sales job  New vs continuing  Order takers vs order makers (act like small business)  Products vs services  Field ( go to clients) vs inside (clients go to them)  Consumer (end consumer) vs business (sell to reseller) D. Characteristics of a Successful Salespeople  Motivation: o Externally: money, power recognition o Internally: standards up, perform that level. Do better in life, have externally working for them  Dependable: word most be bond. Can’t break promises. Under promising and over delivering  Ethical  Customer and product knowledge  Flexible: world is not perfect. Function of maturity  Communication skills: take the complex concept and break it down so everyone can understand it. bad communicator eats up your time  Emotionally intelligent: anticipate human behavior before it happens, study of humans goods. Pool Hustler: play bellow your ability, then at your ability E. Born vs made  Combination between born and made  More made F. Rewards  Independence: people who are self employed that cannot manage their time will eventually end working for someone who knows how to manage theirs  Responsibility: not the same as liability. Can’t get fired  Sales management: not top sales people. If you are the best in what you do it can’t be translated. Video Roering  Mike Parella from New Jersey  Works in a pharmaceutical company as a medical representative  He is open minded, good in management skills and positive ( he likes what he does)  He may need to improve in his boringness Case: Justin Diamond takes a sales course  He wants to go into sales when he graduates  Meet new people all the time,  People don’t repsenct sales people Unit 1, class (2) I. Building partnering Relationships A. Types of relationships  Marketing exchange: one time  Functional relationship: attach ourselves with vendors  Strategic partnership: you feel like you are in the pay list of the company B. Characteristics of a successful relationship:  Trust: dependable, competent, customer oriented, honesty, likeable  Open communication: say anything no fear of repercussions  Common goals  Commitment to mutual gain: accomplish more together than alone  Organizational support: other people believe in the relationship besides the two parties. C. Evolution of personal selling:  Product concept: people will buy based on the features available  Production concept people will buy if its available  Sales: people will buy based on the amount of promotion you do  Marketing: divide your market in target markets and make one proposal for each. The goal remains the same  Partnering concept: fewer clients better service Rule 80-20: 20% talking sales person. 80% prospect Case: New Buyer/ old account  Tanita : sales person  Morgan office solutions: oldest distributer of office equipment in California  Business 10 years ago with school district  New board of member  Choosing between 3 suppliers.  It’s a commodity so it has same quality no matter the price. One too many  Monahan: owner and president od Promoteit!  Damon Products: the oldest and largest client  They gave the chance to Damon to take the promotion they were not ready so Haddock took the promotion  Then Damon calls to take the promotion but is al ready taken  They should honor their word and keep the contract, next time Damon will get the chance


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