MARK 3321 1st Edition Lecture 16 Outline of Last Lecture I Advertising II Major Types of Advertising III Product Advertising IV Creative Decisions in Advertising V The DAGMAR Approach VI Common Advertising Appeals VII Unique Selling Proposition VIII Media Decisions in Advertising IX The Internet and Alternative Media X Media Selection Considerations XI Media Scheduling XII Public Relations XIII Public Relations Tools XIV Sales Promotion XV Tools for Consumer Sales Promotion Outline of Current Lecture I Personal Selling II Personal Selling vs Ads Sales Promotion III Relationship Selling IV Generating Leads V Time spent in key steps of the selling process sales cycle VI Approaching the customer and probing needs VII Handling Objectives VIII Closing the Sale IX Following Up X Social Media XI Categorizing Media Types Current Lecture CH 17 Personal Selling Personal selling o A purchase situation involving a personal paid for communication between two people in an attempt to influence each other 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 Personal selling vs Ads Sales promotion Relationship selling consultative selling o A sales practice that involves building maintaining and enhancing interactions with customers in order to develop long term satisfaction through mutually beneficial partnerships Generating leads o Advertising o Webinars o Referrals o Trade shows conventions o Direct mail o Networking o Social media o Telemarketing o Cold calling Time spent in key steps of the selling process sales cycle Approaching the customer and probing needs o Needs assessment A determination of the customer s specific needs and wants and the range of options a customer has for satisfying them Handling objectives o View objectives as requests for information o Anticipate specific objections o Investigate the objection with the customer o Be aware of competitors products o Stay calm o Use the objection to close the sale Closing the sale o Look for customer signals o Keep an open mind o Negotiate o Tailor to each market Following up o In the final step of the selling process follow up the sales person must ensure Delivery schedules are met Goods or services perform as promise Buyers employees are properly trained to use the products CH 18 Social Media Social media o Social media and integrated marketing communications o o Any tool or service that uses the internet to facilitate conversations Allows marketers to Have conversations with consumers Forge deeper relationships Build brand loyalty Allows consumers to Connect with each other Share opinions Collaborate on new ideas according to interests Categorizing media types o Owned media Corporate blog o Earned media o Paid media