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