- adaptive selling
- an approach to personal selling in which selling behaviors are altered during the sales interaction or across customer interactions, based on information about the nature of the selling situation
- AIDA model
- the model consumers go through when becoming interested in a product. First the product must grab their attention, then they gain interest, they have a desire for the product, and they act to acquire the product
- ambiguous terms and conditions
- when a contract is unclear and misleading
- approach
- the stage of the sales process where the salesperson makes the initial approach to introduce the product to the customer
- commission
- the compensation paid to salespeople based on a fixed formula related to the salesperson’s activity or performance
- consultative selling
- focuses on the expertise of a salesperson with problem solving
- contest
- a marketing or consumer sales promotion technique that involves collection, matching, or use of skill to complete a project or activity with the goal of a prize or reward for the player
- cooperative advertising
- an approach to paying for local advertising or retail advertising whereby the details are handled by a local retail store but is partly or fully paid for by a national manufacturer whose product is featured in the ad
- coupon
- a printed certificate entitling the bearer to a stated price reduction or special value on a specific product
- credit terms
- credit terms of the agreement between the buyer and seller with length of time and payments to be made
- customer relationship management
- the process sales personnel undertake to work with the customer to build the relationship and move into the role of a trusted advisor
- formula selling
- an approach in which the sales presentation is designed to move the customer through the stages in the decision-making process, such as get the customer’s attention, develop interest, build desire, and secure action
- hidden fees
- also called undisclosed fees and are fees that are not made known to the buyer
- inside order taker
- a salesclerk or order clerk that is employed for a company that address questions and complete the final sale
- kickbacks
- illegal payment for preferential or improper service
- lead response time
- the activity of evaluating factors through data analytics, demographics, buyer behavior, competitor analysis, and economics
- loyalty programs
- a form of promotion focused on repeat purchases and frequently attached to a sales receipt, punch card, or stamp card
- missionary salespeople
- individuals who have the power to influence the customer to purchase a product or service
- need/satisfaction format
- a type of customized sales presentation in which the salesperson first identifies the prospective customer’s needs and then tries to offer a solution that satisfies those needs
- opportunity win rate
- the number of sales closed divided by the total number of opportunities created; calculates another opportunity to track sales
- order getters
- highly trained salespeople who know their products, services involved, and competition across the street
- order takers
- sales personnel that are responsible for taking orders from customers by identifying the customer and finding the right product fit
- outside order takers
- salespeople out in the trenches, visiting customers and delivering inventory to retailers and wholesalers
- personal selling
- communication between a buyer and seller. The primary responsibility is to build a relationship with the buyer.
- point-of-purchase displays
- displays that allow manufacturers to showcase their products in a way that stands out from all the other products in the store
- pre-approach stage
- the stage of the sales process where the salesperson will work to understand the needs of the customer and begin working with them to become a customer
- premiums
- a promotional tool that is often defined in three forms: merchandise offered at a lower price or free; an item of value, other than the product; souvenir merchandise
- presentation
- the stage of the sales process where the salesperson showcases the features about a product that will be of most benefit to the prospect based on the needs uncovered during the pre-approach and approach stages
- prospect
- a potential qualified customer who has the willingness, financial capacity, authority, and eligibility to buy the salesperson’s offering
- qualification
- the process the salesperson undertakes to make sure the sales lead is a good fit for the product they are selling
- quantitative assessments
- numbers driven and based on inputs and outputs of the sales cycle
- rebates
- a form of promotion that rewards consumers for sending information to the company
- relationship selling
- a method of personal selling used to better understand the needs and wants of the buyer
- sales force automation
- a software tool that helps organizations acquire customers
- sales leads
- a database of potential customers that sales professionals work to create and develop through lead generation
- sales promotion
- a short-term way of enticing the consumer to purchase a product or service
- samples
- providing consumers with a free sample of a product is a form of promotion
- selling process
- includes all of the steps the salesperson will implement as they work with the buyer to become a customer
- support personnel
- fulfill the responsibilities that assist the sales team in supporting the customer and completing the sale
- sweepstakes
- a marketing or consumer sales promotion that involves the offering of prizes to participants, where winners are selected by chance and no consideration is required
- team selling
- the practice of involving a group of people familiar with the viewpoints and concerns of a customer’s key decision makers to sell and service a major account
- technical specialist
- a salesperson who has extensive product knowledge and uses this knowledge as the focal aspect of the sales presentation