Chapter 17 Vocab - Marketing Management

sales practice that involves building a relationship with customers in order to develop long-term satisfaction

1- Generating Leads
2- Qualifying Leads
3- Approaching the Customer and Probing Needs
4- Developing and proposing Solutions
5- Handling Objections
6- Closing the Sale
7-Following Up

set of steps a salesperson goes through in an organization to sell products or services

identification of firms and people that are most likely to buy the seller's offering

a form of lead generation in which the sales person approaches a potential buyer without any prior knowledge of the prospects' needs or financial statues

recommendation to a salesperson from a customer or business ass.

processed of finding out about potential clients from friends, business contacts, coworkers, acquaintances, or other professional fellow member in an organization

determination of sales prospect's
1. recognize need
2. buying power
3. receptivity and accessibility

process that describes the "homework" that must be done by a salesperson before he/she contacts a prospect

determination of the customer's specific needs and wants and the range of options the customer has for satisfying them

written document or professional presentation that outlines how the salesperson's product or service will meet or exceed the prospect's needs

formal meeting in which the salesperson presents a sales proposal to a prospective buyer

process during both the salesperson and the prospect offer special concessions in an attempt to arrive at a sales agreement

final step of the selling process, in which salesperson ensures delivery schedules are met, goods and services performed as promised, and the buyers' employees are properly trained to use the products

statement of salespersons goals, usually based on sales volume

a philosophy in which the company customizes its product and service offerings based on data collected generated through interactions between the customer and the company

the point at which a customer and a company representative exchange information and develop a learning relationships

areas of a business where customers have contract with the company and data might be gathered

process by which customer information is centralized and shared in order to enhance the relationship between customers and the organization

touch point in stored or information kiosks that uses software to enable customers to easily provide information about themselves without feeling violated

developing product or service offering customized for the appropriate customer segment and then pricing and communicating these offerings for the purpose of enhancing customer relationshis