Midterm Review - SIE 415 - Spring 08

Midterm Review - SIE 415 - Spring 08 - Technical Sales and...

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Technical Sales and Marketing SIE 415 Spring, 2008 Midterm Exam – Review You are responsible for the material included in the slides, textbook chapters and articles posted on d2l. The following is intended as a guide and may not be all-inclusive. Technical Sales and Marketing Definitions of technology, marketing and effective communication o Technology – The process by which humans modify nature to meet their needs and wants. Infrastructure Knowledge and processes Engineering know-how Manufacturing expertise Technical skills Science Understand the "why" and "how" of nature Engineering "Design under constraint" o Marketing – o Effective Communication – The ability to communicate effectively in writing remains a critical skill in business, particularly for engineers who often need to communicate complex technical information to non-technical professionals. Most important success factors in selling (in order from greatest to least) o Listening skills o Follow-up skills o Ability to adapt sales style from situation to situation o Tenacity – sticking to the task o Organizational skills o Verbal communication skills o Proficiency in interacting with people at all levels within an organization o Demonstrated ability to overcome objections o Closing skills o Personal planning and time management skills Product life cycle Adoption of innovation
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Technical Sales and Marketing SIE 415 Spring, 2008 Market segmentation – the process of identifying those clusters of customers in a market which share similar needs and wants and will respond in a unique way to a given marketing effort. Company marketing efforts are tailored specifically to the needs of these segments on which the company has decided to target its marketing. o Attributes used for segmentation of Consumer Products/markets? Consumer products/markets Age Gender Income Social status Geographical location Type of residence Personality Benefits sought Usage rate o Industrial products/markets Geographical location Benefits sought Usage rate End use market Type of industry Product application Company size Break even chart
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Technical Sales and Marketing SIE 415 Spring, 2008 ] Sales vs. Marketing Responsibilities of sales and marketing departments Arguments that Tim Hayes makes in the article “Sales vs. Marketing” for and against having sales and marketing in the same function Leads and Lead Qualification Definition of a lead and lead qualification, where leads can be found o Lead A piece of information that indicates that an individual or entity is a potential customer. Identification
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This note was uploaded on 04/02/2008 for the course SIE 415 taught by Professor Hunter during the Spring '08 term at Arizona.

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Midterm Review - SIE 415 - Spring 08 - Technical Sales and...

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