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

MKT 504- Chapter 1

3 Pages

Course Code
MKT 504
Roy Morley

This preview shows page 1. Sign up to view the full 3 pages of the document.
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
More Less
Unlock Document

Only page 1 are available for preview. Some parts have been intentionally blurred.

Unlock Document
You're Reading a Preview

Unlock to view full version

Unlock Document

Log In


Join OneClass

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

Sign up

Join to view


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.