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mkt504 ch1.docx

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MKT 504
Roy Morley

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CHAPTER 1: RELATIONSHIP SELLING OPPORTUNITIES IN THE INFO ECONOMY -Personal selling: person-to-person communication (informing, reminding, persuading) with prospective customer about a product/service; develop relationships, discover needs, match products with needs; adds value -Product: broadly interpreted to encompass physical goods, service, and ideas -Personal selling philosophy: adopt marketing concept, value personal selling, become a problem solver/partner to help customers make better buying decisions -Selling 2.0: using info technology tools + innovative sales practices to create value by improving speed, collaboration, customer engagement, and accountability of sales process -Business is defined by customer relationships -Value-added selling: improving sales process by offering advice & product solutions, managing customer relationships, and providing service after sale -Tasks performed by salespeople: administrative, sales prep, face-to-face selling, travelling*(mostly this) -Psychic income: factors that provide psychological rewards; satisfy need for recognition & security -Inside salesperson: performs selling activities at employer’s location, typically via phone & email -Outside salesperson: travels to meet prosp
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