MKT 504 Study Guide - Final Guide: Sales Process Engineering, Customer Service, Communication
17 May 2018
School
Department
Course
Professor
MKT 504 Effective Persuasion
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Chapter 1: Overview of Personal Selling............................................................................................................. - 1 -
Chapter 2: Building Trust and Sales Ethics .......................................................................................................... - 8 -
Chapter 3: Understanding Buyers ..................................................................................................................... - 14 -
Chapter 4: Communication Skills ...................................................................................................................... - 22 -
Chapter 5: Strategic Prospecting and Preparing for Sales Dialogue ................................................................. - 30 -
Chapter 6: Planning Sales Dialogues and Presentations .................................................................................. - 36 -
Chapter 7: Sales Dialogue ................................................................................................................................. - 39 -
Chapter 8: Addressing Concerns and Earning Commitment ............................................................................ - 41 -
Chapter 9: Expanding Customer Relationships ................................................................................................ - 44 -
Chapter 10: Adding Value ................................................................................................................................. - 48 -
Chapter 11: Sales Management and Sales 2.0 ................................................................................................. - 51 -
Chapter 1: Overview of Personal Selling
Personal Selling
➢ Important part of marketing that relies heavily on interpersonal
interactions between buyers and sellers to initiate, develop and enhance
customer relationships
Trust-Based
Relationship Selling
➢ Requires that salespeople:
1. Earn customer trust,
2. Provide a selling strategy that meets customer needs
3. Provide a selling strategy that contributes to the creation,
communication and delivery of customer value
Customer Value
➢ Custoe’s peeptio of what they get for what they have to give up
Sales Dialogue
➢ Business conversations between buyers and sellers that occur as
salespeople attempt to initiate develop and enhance customer
relationships
Importance of sales Dialogue
- Allows for more thorough qualifying
- Demonstrates sincere interest in the prospective customer
- Helps deteie pospetie ustoe’s uiue eeds
- Ensures meaningful presentation of value-added solutions
- Promotes open communication and satisfaction feedback.
find more resources at oneclass.com
find more resources at oneclass.com
MKT 504 Effective Persuasion
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Evolution of Personal
Selling
(The past several decades)
From Reliance on
Canned sales presentations:
- Sales presentations that
include scripted sales
calls, memorized
presentations and
automated presentations
To greater focus on
Sales Professionalism
- A customer-oriented
approach that uses
truthful, non
manipulative tactics to
satisfy the long-term
needs of both the
customer and the selling
firm.
Contributions of
Personal Selling:
Sales People and
Society
➢ Salespeople help stimulate the economy
- World economic system deals with such
issues as increased globalization of business,
more emphasis on customer satisfaction
and building competitiveness through
quality improvement programs
- It is expected that salespeople will be
recognized as a key force in executing the
appropriate strategies and tactics necessary
for survival growth.
➢ Salespeople help with the diffusion of
innovation
- The process whereby new products services
and ideas are distributed to the members of
society.
- Ex. Early adopters of an innovation often
rely on salespeople as a primary source of
information.
Sales people and
the employing firm
➢ Salespeople generate revenue
➢ Salespeople provide market research and
customer feedback
find more resources at oneclass.com
find more resources at oneclass.com
MKT 504 Effective Persuasion
- 3 -
- 3 -
➢ Sales people become future leaders in the
organization
Sales people and
the Customer
➢ Sales people provide solutions to problems
➢ Salespeople provide expertise and serve as
information resources
➢ Salespeople serve as advocates for the
customer when dealing with the selling
organization
Alternative Personal
Selling Approaches
Adaptive
Selling:
➢ The ability of salespeople to alter their sales messages
and behaviours during a sales presentation or as they
encounter different sales situations and different
customers.
Stimulus-
Response
Selling
➢ Simple in design, assumes conditioned response improves
likelihood of success; a risky and unreliable strategy
Salesperson Provides
Stimuli: →
- Statements
- Questions
- Actions
- Audio/Visual
Aids
- Demonstrations
Buyer Responses
Sought: →
- Favourable
reactions
and
eventful
purchase
Continue
Process
Until
Purchase
Decision
➢ The salespeople attempt to gain favourable responses
from the customer by providing stimuli or cues to
influence the buyer.
➢ After the customer has been properly conditioned, the
salesperson tries to secure a positive purchase decision
Mental
States
Selling
➢ Assumes buyer can be led through mental states;
promotes one-way communication;
➢ a risky and unreliable strategy
➢ Assumes that the buying process for most buyers is
essentially identical and that buyers can be led through
certain mental states or steps in the buying process
➢ These mental states
are referred to as
AIDA:
- Attention
- Interest
- Desire
- Action
➢ Appropriate sales
messages provide a
transition from one
mental state to the
next
find more resources at oneclass.com
find more resources at oneclass.com
Document Summary
Chapter 1: overview of personal selling - 1 - Chapter 2: building trust and sales ethics - 8 - Chapter 3: understanding buyers - 14 - Chapter 4: communication skills - 22 - Chapter 5: strategic prospecting and preparing for sales dialogue - 30 - Chapter 6: planning sales dialogues and presentations - 36 - Chapter 7: sales dialogue - 39 - Chapter 8: addressing concerns and earning commitment - 41 - Chapter 9: expanding customer relationships - 44 - Chapter 10: adding value - 48 - Chapter 11: sales management and sales 2. 0 - 51 - Important part of marketing that relies heavily on interpersonal. Sales dialogue interactions between buyers and sellers to initiate, develop and enhance customer relationships. Requires that salespeople: earn customer trust, provide a selling strategy that meets customer needs, provide a selling strategy that contributes to the creation, communication and delivery of customer value.
