quiz 1 notes - Chapter 1 Value- represents the net bundle...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Chapter 1 Value- represents the net bundle of benefits the customer derives from the product you are selling (this is often referred to as your Value Proposition) Customer Loyalty- giving your customers many reasons not to switch to competitors, is central to successful selling today Relationship selling- central goal is securing, building and maintaining long term relationships with profitable customers Sales mgmt- the way the various aspects of relationship selling are managed by the salespersons firm Customer relationship mgmt (CRM)- an organizationwide customer focus that uses advanced technology to maximize the firms ability to add value to customers and develop long term relationships Customer- centric-puts the customer at the center of everything that happens both inside and outside the firm Customer orientation- firms that are customer-centric have a high level of customer orientation Return on customer investment- how much time, money, and other resources should be invested in a customer versus the anticipated return on the investment Lifetime value of a customer- customers long term value to the sales organization Transactional selling- is the set of skills, strategies, and sales processes that meets the needs of buyers who treat suppliers as a commodity and who are mainly or exclusively interested in price and convenience Relationship selling – Consultative selling- works most effectively with buyers who demand , and are willing to pay for, a sales effort that creates new value and provides additional benefits outside of the product itself -Enterprise selling-2 nd type of relationship selling that works most
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 5

quiz 1 notes - Chapter 1 Value- represents the net bundle...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online