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Marketing Chapter 20

by: Melanie Guerrero

Marketing Chapter 20 MAR 250

Marketplace > Pace University > Marketing > MAR 250 > Marketing Chapter 20
Melanie Guerrero
GPA 3.43

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About this Document

These only contain vocabulary definitions needed to know for the FINAL exam
Principles of Marketing (20335)
Harvey Markowitz
Class Notes
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This 2 page Class Notes was uploaded by Melanie Guerrero on Saturday April 23, 2016. The Class Notes belongs to MAR 250 at Pace University taught by Harvey Markowitz in Winter 2016. Since its upload, it has received 8 views. For similar materials see Principles of Marketing (20335) in Marketing at Pace University.

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Date Created: 04/23/16
Chapter 20 Account management policies – specifying whom salespeople should contact, what kinds of selling and customer service activities should be engaged in, and how these activities should be carried out Adaptive selling – involves adjusting the presentation to fit the selling situation, such as knowing when to offer solutions and when to ask for more information Consultative selling – focuses on problem identification, where the salesperson serves as an expert on problem recognition and resolution Emotional intelligence – the ability to understand one’s own emotions and the emotions of people with whom one interacts on a daily basis Formula selling presentation – format based on the view that a presentation consists of information that must be provided in an accurate, thorough, and step-by-step manner to inform the prospect Key account management – the practice of using team selling to focus on important customers so as to build mutually beneficial, long-term, cooperative relationships Need-satisfaction presentation – format emphasizes probing and listening by the salesperson to identify the needs and interests of prospective buyers Order getter – sells in a conventional sense and identifies prospective customers, provides customers with information, persuades customers to buy, closes sales, and follows up on customers’ use of a product or service Order taker – processes routine orders or reorders for products that were already sold by the company Partnership selling – aka enterprise selling, buyer and sellers combine their expertise and resources to create customized solutions; commit to joint planning; and share customer, competitive, and company information for their mutual benefit and ultimately, the benefit of the customer Personal selling – involves the two-way flow of communication between a buyer and seller, often in a face-to-face encounter, designed to influence a person’s or group’s purchase decision Personal selling process – 1. Prospecting 2. Pre-approach 3. Approach 4. Presentation 5. Close and 6. Follow up Relationship selling – the practice of building ties to customers based on a salesperson’s attention and commitment to customer needs over time Sales management – involves planning the selling program and implementing and evaluating the personal selling effort of the firm Sales plan – a statement describing what is to be achieved and where and bow the selling effort of salespeople is to be deployed. 1. Setting objectives, 2 organizing salesforce 3. Developing account management policies Sales quota – contains specific goals assigned to a salesperson, sales team, branch of sales office, or sales district for a stated time period Sales force automation (SFA) – the use of marketing dashboards to make the sales function more effective and efficient Stimulus-response presentation – format assumes that given the appropriate stimulus by a salesperson, the prospect will buy Team selling – the practice of using an entire team of professionals in selling to and servicing major customers Workload method – formula-based method integrates the number of customers served, call frequency, call length, and available selling time to arrive at a figure for the salesforce size


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