T343 1nd Edition Lecture 2 Outline of Current Lecture I As an Account Executive You Will Interact Most With II 4 Primary Objectives III How Do I Accomplish Those IV Zig Ziglar Sales is a Proud Profession V Some Common Sales Misconceptions VI The 5 P s of Marketing VII No Control Over Which P s Current Lecture I As an AE You Will Interact Most With a Prospects i People who have marketing problems your media outlet can solve ii But who have never bough advertising on your website or through your outlet iii Most time is spent on prospects b Customers i People you have built relations with already c Partners i Persuaded them more than once that your media outlet meets their marketing needs They view you more as a partner ii Most income comes from partners II 4 Primary Objectives a 1 To get results for customers i Work with customers to decide what result makes sense b 2 To develop new business i To account for attrition to ensure growth c 3 Increase current business i Customer service is key d 4 Increase customer loyalty i To try to get them to move from customers to partners III How Do I Accomplish Those a Must stay current on product knowledge and the industry b You can find most information on the Internet These notes represent a detailed interpretation of the professor s lecture GradeBuddy is best used as a supplement to your own notes not as a substitute c If you know your product and know what your client needs you can create a differential competitive advantage IV Zig Ziglar Sales is a Proud Profession a Must be willing to put in hard work to develop relationships b Sales is a way of life you have to think of it as solving problems not making sales V Some Common Sales Misconceptions a Sales is manipulative unethical b Our customer is everyone anyone c Every sale is a good one d Never take no for an answer i No means you haven t figured out what the real problem is yet VI The 5 P s of Marketing a 1 Product b 2 Place c 3 Price d 4 Promotion i Designing advertising that 1 Creates brand awareness 2 Develops positive affect 3 Stimulates trial purchase 4 Translates repeat business 5 Establishes USP ii You have a say in this for Prospects and Customers Not Partners e 5 Post purchase VII No Control Over Which P s a Price it communicates things i Prestige set high price ii Value set price low iii Loss leaders advertise high use item at low price but other products priced normally iv Off pricing promoting old vs new b Place it communicates things too i Distribution is the product theme ii Location is the business in a place that s attractive to target c Product i I can only sell bad soup once