Textbook Notes (369,133)
Canada (162,403)
Marketing (884)
MKT 504 (49)
Chapter 1

MKT 504- Chapter 1

3 Pages
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Department
Marketing
Course Code
MKT 504
Professor
Roy Morley

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žCHAPTER 1: Relationship Selling Opportunities in the Information Economy Involves person­to­person communication with a prospect It is a process of: ­developing relationships;  ­discovering customer needs;  ­matching appropriate products with those needs; and  ­communicating benefits through informing, reminding, or persuading. Emergence of relationship selling in the information economy:   Information economy – an economy where there is an emphasis on information  processing. Four major developments: 1)Major advances occur in information technology and electronic commerce 2)Information is a strategic resource 3)Business is defined by customer relationships 4)Sales success depends on adding value Value­added Selling ­ improving the sales process to create value for the customer: ­offer better advice and product solutions,  ­carefully manage customer relationships, and ­provide better service after the sale. Considerations for a future in personal selling  Two factors contribute to new titles: ­Shift from “selling” to “partnering” ­To reflect difference in education & skill ­Above­average income ­Above­average psychic income ­Factors that provide psychological rewards; ­Helps to satisfy the need for recognition and security, and motivates us to achieve  higher levels of performance ­Opportunity for advancement ­Opportunities for women Employment Settings in Selling Today Inside Salesperson – performs selling activities at the employer’s location, typically  using the telephone and email ­Take orders ­Make calls on customers ­Provide support for outside salespeople ­Inside salesperson sometimes called a customer service representative ­Providing a number of support services on behalf of outside salespeople Telemarketing – a common form of outbound inside sales that serves several purposes,  including sales and service. ­Can include technical support personnel Outside Salesperson – travels to meet prospects and customers in their place of business  or residence ­Many direct­to­consumer salespeople engage at least partial
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