61 Cards in this Set
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3 C's of selling
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concern, candor, competence
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4 stages of a sales call
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opening, investigating, demonstrating capability, obtaining commitment
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4 stages of sales calls
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"Opening
Investigating- most important
Demonstrating Capability
Obtaining Commitment- least important"
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4 E's
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excite, educate, experience, engage
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3 ways of demonstrating capability
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features, advantages, benefit
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4 P's
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product, price, promotion, place
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4 p's decisions
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creating, communication, capturing, delivering
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3 ways to perform marketing
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b2b, b2c, c2c
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categories of social media
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social network, thought sharing, media sharing
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3 Cs's of selling
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concern, candor, competence
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concern
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"Focus on buyers and their needs, not on products and services
Understand buyer problems and why they matter
More seeking than giving"
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candor
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"Be straight, be honest
If you don't know, don't pretend
Don't deceive or exaggerate"
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competence
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"Know how products or services meet buyer needs
Know how they solve business problems"
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SPIN
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"situation
Problem
implication
need-payoff"
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situation questions
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"About background, facts, context
More in unsuccessful calls
Best sellers ask fewer but focus them better"
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Problem questions
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"About problems, difficulties, dissatisfaction
More in successful calls
Inexperienced sellers don't ask enough"
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Implication questions
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"Link separate problems to separate problems
Talk about the significance
Most difficult to ask
Develop the problem"
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Need-payoff questions
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"Develop the solution
Identification & clarification"
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Implied need
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A statement of a problem, difficulty, or dissatisfaction
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Explicit need
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"A clear want or desire
As 2 components
A clear problem
A desire to solve it"
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Difference between a benefit and an advantage
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They both explain what a feature will do, but the difference is timing. A benefit is expressed with an explicit need and an advantage is just expressed.
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Greeting card speaker
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"John Beeter
""customers need a solution not a product""
Credibility enables sales & commitment
Comes thru learning
Talk with your mouth, listen with your ears
short cycle--> buying coffee at Starbucks
Long cycle--> buying a car or house"
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The 4 P's of marketing
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Product
Price
Place
Promotion
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Product (4 P's)
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Creating value
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Price (4 P's)
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Capturing value
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Place (4 P's)
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Delivering the value proposition
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Marketing channel management (supply chain management)
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Set of approaches and techniques that firms use to efficiently and effectively integrate suppliers, manufacturers, warehouses, etc.
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Promotion (4 P's)
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communicating the value proposition
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Supply chain
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Raw material--> manufacturer--> retailer--> consumer
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The 4E framework for social media
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-Excite
-Educate
-Experience
-Engage
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Social Network Sites
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Excite the customer
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Media-Sharing sites
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Enables the customer to experience the product and engages the customer
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Thought-sharing sites
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Educate and engage the consumer
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Social Media Engagement Process
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1. Listen
2. Analyze
3. Do
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Immediate Environment
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Company capabilities
Competitors
Corporate partners
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Immediate environment
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Company
Competition
Corporate partners.
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Macroenvironmental factors
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CDSTEP- Culture, Demographics, social issues, Technological advances, Economic situation, Political/regulatory environment
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Consumer Decision-Making Process
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A five-step process used by consumers when buying goods or services
1. Need Recognition
2. Information search
3. Evaluation of Alternatives
4. Purchase and consumption
5. Postpurchase Behavior
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Social Factors Influencing the Consumer Decision Process
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Family
Reference Groups
Culture
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Psychological Factors Influencing the Consumer Decision Process
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Motives
Attitudes
Perceptions
Learning
Lifestyle
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Situational Factors influencing the consumer decision process
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Purchase situation
Shopping situation
Temporal situation
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3 steps in social media engagement process
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listen, analyze, do
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an extended network is a measure of
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how far a person's influence extends when friends of friends are considered
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4 E framework
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1. exciting the customer
2. Educating the customer.
3.helping the customer experience the product.
3.giving the customer an opportunity to engage through their social network
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Creators (social media)
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use SM to post and their their ideas
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Professionals (social media)
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Use SM to enhance their reputation a intelligent and efficient individuals.
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5 steps for a social media marketing campaign.
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1. Identify strategy goals.
2.Target audiences.
3.Campaign: experiment and engage.
4. Budget
5.Monitor and exchange.
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Sharers
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The ones most likely to respond to online requests for information out of a genuine desire to help
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bonders
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are social butterflies who use social media to enhance and expand their relationsihps, which they consider all important in their lives
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sentiment analysis
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opinion mining, feedback; scours the social media to collect and analyze words people use when describing a certain product
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click paths
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show how users move through pages of a website.
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Gamification
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integrating game dynamics to increase participation.
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conversion rate (social media)
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Percentage of visitors who take the action the marketers wanted them to take: buy, download, subscribe etc.
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3 persuasion styles
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1. giving more than seeking.
2.Same giving as seeking
3.More seeking than giving.
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Data mining
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looking into data to find facts that might surprise you.
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Macro Environmental Factors
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Economic
Technology
Political/ Legal
Demographics
Culture
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3 Steps to Obtaining comitment
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Check that you have addressed key concerns
Summarize the benefits
Propose a realistic commitment (Advance)
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Political/ regulatory environment
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comprises political parties, gov orgs, and legislation and laws
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Generation Cohorts
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Groups of generations with shared major experiences that end up shaping their core values.
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RFID
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radio frequency identification; attach tags to goods and track their movement through radio signals
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SWOT
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Marketers must understand the current and potential environment in which the product/service will be marketed.
Must consider internal Strengths and Weaknesses, as well as the external Opportunities and Threats.
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Study Guide