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Chapter 1

MKT 504 Chapter Notes - Chapter 1: Customer Relationship Management, Transition Economy, Sales Process Engineering


Department
Marketing
Course Code
MKT 504
Professor
Daryl D' Souza
Chapter
1

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MKT504 Chapter 1: Overview of Personal Selling
1 1) Personal Selling Defined
personal selling = an important part of marketing that relies heavily on interpersonal interactions between buyers and
sellers to initiate, develop, and enhance customer relationships
unique: interpersonal and communication before/during/after sale immediate customer feedback
MVP of a business
B2B marketing
1 2) Trust-Based Relationship Selling
trust-based relationship selling = a form of personal selling that requires that salespeople earn customer trust and their
selling strategy meets customer needs and contributes to the creation, communication, and delivery of customer value
differs from traditional sales (not short term (transaction focus))
solving customer problems, providing opportunities, adding value to customer business over extended period of time
IMPORTANCE OF CUSTOMER VALUE
deliver customer value while initiating, developing, enhancing customer relationships
ustoer alue = ustoers’ pereptio of hat the get for hat the gie up; e.) eefits fro uig a produt i
exchange for money paid
complex, answer questions:
o salesperson dependable? do a good job/save money? achieve strategic priorities? easy work w/? enlist others
creating value? sales rep. understand business/industry?
customers want to be heard
IMPORTANCE OF SALES DIALOGUE
sales dialogue = business conversations between buyers and sellers that occur as salespeople attempt to initiate, develop,
and enhance customer relationships
o sales dialogue should be customer focused and have a clear purpose
conversation purposes:
o prospective customer targeted for further sales attention
o clarify prospective customer situation/buying
o discover prospective customer unique needs + requirements
o determine prospective customer strategic priorities
o how sales firm can add value
o negotiate business deal, customer commitment
o more opp. increase value
o assess sales org./person to continually add value
both parties benefit
1 3) Evolution of Personal Selling
selling as an exchange activity
salespeople earn a living by selling; predecessors like traders, merchants, artisans sell
peddlers sell door-to-door, perform marketing functions (purchasing, assembling, sorting, redistributing goods)
INDUSTRIAL REVOLUTION ERA
economic justification for salespeople
trade and need to reach new customers
find more resources at oneclass.com
find more resources at oneclass.com
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