BA 488 first section Essays

BA 488 first section Essays BA 488 first section Essay BA 488 first section Essay Essential Questions BA 488 1) What is personal selling? Relationship based selling 2) Explain the difference between traditional transaction focused selling and trust- based relationship selling. transaction based ends after the sale 3) How does personal selling contribute to society, businesses, and customers? Strengthens relationships leading to increased sales and productivity 4) Briefly describe the five alternative approaches to personal selling. Which are more transaction based and which are more trust-based? Stimilus Response-scripted Mental States- Curiosity_sales Need satisfaction Problem Solving consultative 5) Briefly describe the three major phases of the trust-based sales process. Understanding customer value -creating and communicating value and delivering value CH2 1) Trust is a very complex concept. What five questions that are commonly asked by customers are answered when the salesperson is trusted? 2) Identify and describe the five characteristics of a salesperson that help that salesperson to earn a customers trust. How can a salesperson demonstrate each of the characteristics? . Expertise, compatibility, customer orientation, dependability and candor ) In order for salespeople to earn customers trust, they must be knowledgeable in several different areas. Identify and briefly describe the various types of knowledge a good salesperson should possess. Why is it important for salespeople to have a good knowledge base in each of these different areas? a. Industry, company, produ ct, service, price,market,competitor, tech 4) Assume you get a Job as a sales representative. How can you determine which sales practices are ethical and which are unethical? Company laws and guidelines 5) American society clearly defines some practices, such as deception, as unethical. Identify three practices that qualify as deception. a. Exagerating benefits, unfounded answers withholding information 6) Some sales practices are deemed so unethical by our society that engaging in them has legal consequences. Describe four things you as a salesperson should not do to avoid any legal problems for yourself and your company. a. Bribery, Product liability, negligence, basis of the bargain CH3 1) Briefly describe six ways that business markets differ from consumer markets. a. Trained purchasing professionals, ritualized, buying teams, chasing demand, larger ccounts, more buyer power, concentrated demand 2) Outline the steps of the business buying process. What does the buyer do in each step? What opportunities for involvement and/or influence does the seller have in each step? a. Recognition of b. Determining quality needed c. Quantity of item needed d. Qualification of potential sources e. Acquisition andAnalysis of proposals f. Evaluation of proposals and selection of suppliers Selection of order routine g. h. Performance feedback 3) Some salespeople find it useful to categorize buyers various needs. How can this be helpful toa salesperson? Describe five types of needs that buyers may possess. a. Functional Needs- Features and prupose desired b. Situational Needs- Ability to meet demands-timely-capacity c. Social Needs- Benefits of associations d. Psychological Needs- Assurance and strong appeal e. Knowledge needs-How something is made/upkept 4) Many business buyers use a compensatory multiattribute model to make buying decisions. When you, as a salesperson, think that your potential customer is using this type of model, what can you do to give your company the best chance of coming out on top (that is, of being chosen as the provider)? Ask what they hold in high regards 1) Satisfying buyers is extremely important in sales because satisfied buyers become repeat buyers. Identify and describe the two types of attributes that influence buyer satisfaction. Which have the greater influence on satisfaction? What can you as a salesperson do to ensure that your customers are satisfied? 2 ) Describe the three types of business buying decisions. Assuming you are the salesperson, how will your involvement in the purchasing process differ for each type? Straight Rebuy, electronic data interschange Low Modified Rebuy Moderate New Task High ) Your text describes four different communication styles based on the communicators degrees of assertiveness and responsiveness. Briefly describe each of these communication styles. How can you identify each of the styles? What should you do to communicate effectively with people exhibiting each of the styles? High Responsive Low Low Assertive Amiables-Relationship oriented, slow paced. Low R, Low A Analyticals-Task oriented, Slow Pased High R high A Expressives, Relationship oriented and fast paced Drivers Task oriented and fast paced buying center). What is a buying team? Describe the different roles of buying team embers. What are some of the things that you as a salesperson must do to effectively sell to a buying team? Initiators†find the need Influencers†Engineering Users†evaluate how it will affect their Job users serve as both AA DECIDERS-Make the call Purchasers†Negotiate terms Gatekeepers†le secretaries CH4 1) One of the most important, if not the most important thing for a salesperson to do is to ask the customer relevant, timely, and well crafted questions. Describe the different types of questions you could use as a salesperson and the purpose(s) that each type of question serve(s). . Open ended, Closed ended, Multiple choice, probing, evaluative, tactical, Reactive 2) There are so many different types of questions and objectives you may want to accomplish that it is helpful to organize questions into an easy to remember system. One system you could use is the SPIN system. Describe the steps of SPIN. What is your goal (as the salesperson) in each step? What characteristics should your question(s) possess in each step? Provide an example of a question that you would ask in each step. SPIN Situational Question- ascertain who the supplier is, purchase decisions Problem Questions- current problems with suppliers products etc Implication Questions- Help buyer reach decision†IE how does this affect profitability Need-payoff Questions- Solutions†would increased deliveries increased productivity? 3) ADAPT is another questioning system that you could use. Describe the steps of ADAPT and answer the same questions for ADAPT as you did above for SPIN. ADAPT logic based funneling system Assesment†open ended general assessments Discovery†Probe into assessment discoverys to uncover potential gaps Activation† Show the negatives of the problem from previous steps to pique interest Projection† Speculate as to what life would be like if problem would be solved Transiton, Segway †so having a supplier who is on time is important to you? If I can show you how we can be that would you be interested in purchasing.. 1. In order to successfully sell products, services, ideas, or yourself, you need to listen well. By the way, listening well will also help you to succeed in other aspects of your life, including being a student, an employee, a boss, a partner, a spouse, a parent. the list goes on and on! ) Although we seem to listen all the time, most of us dont listen well very often ecause listening effectively takes effort and dedication. Describe six things that you need to do while listening in order to listen ef fectively. Pay attention, Monitor Nonvervals, Paraphrase and repeat, make no assumptions ask clarifying questions. Encourage buyer to talk. Visualize. 2. Now lets think about what is going on in your brain as you listen. The SIER model breaks down active listening into four steps that must be carried out thoroughly and in the proper order to achieve active listening. thoroughly complete each step before moving on to the next. SIER Sensing- Actually listening Interpreting† summarizing key points and asking questions Evaluating†seeing if you agree Respondingparalinguistic 3. Weve all heard the phrase, A picture is worth a thousand words. Studies in cognitive psychology seem to support this statement. People remember pictures far better than they remember words. Identify some ways that you as a salesperson can leverage buyers bias towards remembering images to engage in more effective sales dialogue. Abstract words and phrases, be graphic, bursting with flavor, concrete descriptions 4. Much of our communication is nonverbal. What percentage of the meaning contained in communication is co nveyed through nonverbal behavior? How might a buyer express particular meanings through nonverbal behavior? You should know a couple of behaviors that are warning signs that the sales call is not going well, and a couple that indicate that the buyer is interested. ) How can you as a salesperson express positive messages through your own nonverbal cues? 50 percent, Facial expressions, eye movements, body language, posture and orientations, proxemics CH5 1. What is prospecting? Why is it important for salespeople to prospect? The finding of new customers 2. Strategic prospecting involves generating, qualifying, and prioritizing sales opportunities. Describe the characteristics that distinguish a suspect from a prospect. (Hint: the acronym MAD is useful for remembering these characteristics. ) Why is qualifying and prioritizing prospects important? 3. Describe the four main sources of prospects outlined in your book. What is a referral? Who could you ask for a referral? How could noncompeting salespeople be helpful to you in your prospecting? Where can you look within your own company to find new prospects? Which sources are likely to produce the most promising prospects? Cold canvasing†cold calls referrals introductions Networking†centers of influence, non-competing sales people Company Sources† records, advertising inquiries trade shows seminars Published sources†directories commercial lead lists 4. Describe the five elements of a strategic prospecting plan. Explain why each is important for effective prospecting. Allocating time Keep records Stay positive Evaluate Set Goals 5. What preliminary information should you gather before contacting a prospect? Where could you look for this information? Internet