Marketing Chapter 12-13

Customer Relationship Management(CRM)
core function of selling, finding customers and keeping them satisfied. Email, social media, loyalty programs
Call report
a written report that documents a sales representative’s visit with a customer
Sales quota
a dollar or unit sales goal set for the sales staff to achieve in a period of time
Personal selling
any form of direct contact between a salesperson and a customer
Organizational selling
involves sales exchanges that occur between two or more companies or business groups
Telemarketing
telephone solicitation to make a sale
Extensive decision making
used when making a purchase where there has been little or no previous experience with an item, has a high risk purchase
Limited decision making
when a person buys goods or services that you have purchased before but not regularly, and you need some sort of help to do it
Routine decision making
used when a person needs little information about a product that he or she is buying, it is usually not very expensive
Merchandising
coordinating sales and promotional plans with buying and pricing
Feature benefit selling
matching the characteristics of a product to a customers needs and wants
Product feature
basic, physical, or extended attribute of a product or purchase
Physical feature
tangible attribute that helps explain how a product is constructed (color,style)
Extended product feature
intangible attribute related to the sale of a product that customers find important (warranty)
Customer benefits
advantage or personal satisfaction a customer will get from a service or good
Selling points
the function of a product feature and its benefit to a customer
Buying motive
a reason a customer buys a product
Rational motive
a conscious, logical reason for a purchase
Emotional motive
a feeling expressed by a customer through association with a product
Patronage motive
a reason for remaining a loyal customer of a company (you can have more than one motive at once)
Prospecting
looking for new customers
Prospect
a potential customer
Referral
a recommendation of another person who might buy the product being sold
Endless-chain method
when salespeople ask previous customers for names of potential customers
Cold canvassing
the process of locating as many potential customers as possible without checking leads beforehand