CHAPTER 12 & 13 STUDY GUIDE MARKETING DYNAMICS MARKETING DYNAMICS

Personal selling -any form of direct contact occurring between a salesperson and a customer. -any form of direct contact occurring between a salesperson and a customer.

Business to Business selling- takes place in a manufacturer’s or wholesaler’s showroom or a customer’s place of business. takes place in a manufacturer’s or wholesaler’s showroom or a customer’s place of business.

Telemarketing - the process of selling over the telephone the process of selling over the telephone

Feature-benefit selling- matching the characteristics of a product to a customer’s needs and wants. matching the characteristics of a product to a customer’s needs and wants.

Product features- basic, physical, or extended attributes of the product or purchase basic, physical, or extended attributes of the product or purchase

Customer benefits- the advantages of personal satisfaction a customer will get from a good or service. the advantages of personal satisfaction a customer will get from a good or service.

Rational motive- a conscious, logical reason for a purchase. a conscious, logical reason for a purchase.

Emotional motive- a feeling experienced by a customer through association with a product. a feeling experienced by a customer through association with a product.

Extensive decision making-used when there has been little or no previous experience with an item. making-used when there has been little or no previous experience with an item.

Limited decision making- is used when a person buys goods and services that he or she has purchased before but not regularly. is used when a person buys goods and services that he or she has purchased before but not regularly.

Routine decision making- used when a person needs little information about a product that he or she is buying. used when a person needs little information about a product that he or she is buying.

Preapproach- getting ready for the face to face encounter in a selling situation. getting ready for the face to face encounter in a selling situation.

Prospect- a potential customer a potential customer

Referrals- the names of other people who might buy the product. the names of other people who might buy the product.

Endless chain method- occurs when salespeople ask previous customers for names of potential customers. occurs when salespeople ask previous customers for names of potential customers.

Cold canvassing- a salesperson tries to locate as many potential customers as possible without checking out leads beforehand. a salesperson tries to locate as many potential customers as possible without checking out leads beforehand.

Service approach method- the salesperson asks the customer if he or she needs assistance. the salesperson asks the customer if he or she needs assistance.

Greeting approach method- the salesperson simply welcomes the customer to the store. the salesperson simply welcomes the customer to the store.

Merchandise approach method- the salesperson makes a comment or asks questions about a product in which the customer shows interest. the salesperson makes a comment or asks questions about a product in which the customer shows interest.

nonverbal communication- expressing yourself through body language. expressing yourself through body language.

open-ended questions- requires more than a yes or no answer. requires more than a yes or no answer. What are four categories for sources of product information- What are four categories for sources of product information- direct experience, written publications, other people, and formal training direct experience, written publications, other people, and formal training

Name five sources of prospecting- employer leads, telephone directories, trade and professional directories, newspapers, and commercial lists employer leads, telephone directories, trade and professional directories, newspapers, and commercial lists

#7 Math problem- Calculate price per ounce. Divide price/Fluid ounce Calculate price per ounce. Divide price/Fluid ounce

13.1 #1 List the seven steps of a sale- approach customer, determine needs, present product, overcome objections, close sale, suggestion selling, relationship building approach customer, determine needs, present product, overcome objections, close sale, suggestion selling, relationship building

The first two steps of a sale- approaching the customer and determining needs. approaching the customer and determining needs.

The most effective retail sales approach is merchandise approach merchandise approach

Three steps to determine needs are- listening, observing and asking questions. listening, observing and asking questions.