Textbook Notes (367,753)
Canada (161,369)
Marketing (884)
MKT 504 (49)
Chapter 3

MKT 504- Chapter 3

7 Pages
143 Views
Unlock Document

Department
Marketing
Course
MKT 504
Professor
Roy Morley
Semester
Winter

Description
žCHAPTER 3: Creating Value with a Relationship Strategy Developing a Relationship Strategy: ­Many forms of intelligence influence our actions throughout life ­One form is emotional intelligence Emotional Intelligence (EQ) – the capacity for recognizing our own feelings and those  of others, for motivating ourselves, and for managing emotions effectively in ourselves  and in our relationships. People with a high level display many of the qualities needed in sales work: ­Self­confidence ­Trustworthiness ­Adaptability ­Initiative ­Optimism ­Empathy ­Well developed social skills ­In the field of personal selling and most other business occupations, emotional  intelligence (EQ) is a much greater predictor of success than a high intelligence quotient  (IQ) ­The good news is that one can enhance EQ with various activities Information­age selling involves three major relationship challenges: 1)Building new relationships 2)Transforming relationships from the personal level to the business level 3)Management of relationships ­Major player in the conceptual age will be the empathizer Empathizer – someone who has the ability to imagine themselves in someone else’s  position and understand what that person is feeling  ­Customers perceive that value is added when they feel comfortable with the relationship  they have with a salesperson Partnering – The Highest­Quality Selling Relationship  Keys to a partnering relationship: 1)The relationship is built on shared values 2)Everyone needs to clearly understand the purpose of the partnership and be committed  to the vision 3)The role of the salesperson must move from selling to supporting ­Larry Wilson, Author Adapting the Relationship Strategy Tailored to the type of buyer: Transactional – relationship strategy is secondary to price, convenience, and delivery Consultative – effective communication and relationship built on mutual trust and respect Strategic alliance – building relationships with several representatives in the seller’s and  buyer’s organization; most challenging Self­concept – is the bundle of facts, opinions, beliefs, and perceptions about yourself  that are present in your life every moment of every day ­Consciously aware of some things ­Many are processed unconsciously Practical approaches to develop a positive self­concept: 1)Focus on the future and stop being overly concerned with past mistakes and failures 2)Develop expertise in selected areas 3)Learn to develop a positive mental attitude The Win­Win Philosophy ­The first step in developing a relationship strategy ­Both the buyer and seller come out of the sale understanding both their respective best  interests have been served – they’ve both won Empathy and Ego Drive ­A salesperson simply cannot sell well without the invaluable ability to get critical  feedback from the client through empathy ­Can be learned Ego Drive – inner force that makes the salesperson want and need to make the sale  Character and Integrity Character –personal standards of behaviour, including your honesty and integrity ­Based on internal valu
More Less

Related notes for MKT 504

Log In


OR

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


OR

By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.


Submit