Download Chapter 18 Vocab | MKT 301 - PRIN OF MARKETING and more Quizzes Principles of Marketing in PDF only on Docsity!
Relationship Selling
A sales philosophy and process that emphasizes a commitment to maintaining the relationship over the long term and investing in opportunities that are mutually beneficial to all parties. TERM 2
Leads
DEFINITION 2 A list of potential customers. TERM 3
Qualify
DEFINITION 3 The process of assessing the potential of sales leads. TERM 4
Trade
Shows
DEFINITION 4 Major events attended by buyers who choose to be exposed to products and services offered by potential suppliers in an industry. TERM 5
Cold Calls
DEFINITION 5 A method of prospecting in which sales people telephone or go to see potential customers without appointments.
Telemarketing
A method of prospecting in which sales people telephone potential customers. TERM 7
Preapproach
DEFINITION 7 In the personal selling process, occurs prior to meeting the customer for the first time and extends the qualification of leads procedure; in this step, the sales person conducts additional research and develops plans for meeting with the customer. TERM 8
Role Playing
DEFINITION 8 A good technique for practicing the sales presentation prior to meeting with a customer; the sales person acts out of a simulated buying situation while a colleague or manager acts as the buyer. TERM 9
Closing the Sale
DEFINITION 9 Obtaining a commitment from the customer to make a purchase. TERM 10
Commission
DEFINITION 10 Compensation or financial incentive for sales people based on a fixed percentage of their sales.
Sales Support Personnel
Employees who enhance and help with a firm's overall selling effort, such as by responding to the customer's technical questions or facilitating repairs. TERM 17
Selling Teams
DEFINITION 17 Combinations of sales specialists whose primary duties are order getting, taking, or sales support but who work together to service important clients. TERM 18
Salary
DEFINITION 18 Compensation in the form of a fixed sum of money paid at regular intervals. TERM 19
Bonus
DEFINITION 19 A payment made at a management's discretion when the sales person attains certain goals; usually given only periodically, such as at the end of the year. TERM 20
Sales Contest
DEFINITION 20 A short-term incentive designed to elicit a specific response from the sales force.
