CLEP Principles of Marketing Study Notes

2 pre approach aka preparing where a salesperson

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2. Pre-Approach (aka: Preparing) - where a salesperson conducts research on a prospect-- such as determining the prospect's specific product needs, current use of brands, personal characteristics, etc .. Where the salesperson gathers information about the prospect and analyzes that information. The more information a salesperson has about a prospect, the better prepared he will be to develop an effective presentation. 3. Approach – (1 ST meets buyer) - where a salesperson conducts research on a prospect--such as determining the prospect's specific product needs, current use of brands, personal characteristics, etc.. Where the salesperson gathers information about the prospect and analyzes that information. The more information a salesperson has about a prospect, the better prepared he will be to develop an effective presentation. 4. Presentation - salesperson works to attract and hold the prospect's attention to stimulate interest and stir up a desire for the product. The Presentation can either be prepared, or it can be interactive. Either way, the salesperson must listen and try to adjust the message to meet the prospect's information needs. 5. Meeting Objections - Overcoming Objections is usually part of the presentation, but is considered an individual step in the Selling Process. A salesperson seeks out a prospect's objections in order to address them; a well- prepared salesperson will anticipate objections and be ready to overcome them. 6. Closing the Sale (aka: Closing) - Closing is the element in the Selling Process where the salesperson asks the prospect to buy the product. If unsure if it's time to close the deal, a salesperson will often try a trial close, which involves asking questions that assume the prospect will buy the product. For example, asking about financial terms, delivery arrangements, etc., allow the prospect to indicate indirectly that he is ready to buy the product. 7. Follow-Up - final step where the salesperson makes an effort to assure customer satisfaction after the sale. May involve calling the customer to find out if any problems or questions have arisen regarding the product. It can also be used to determine future product needs for that customer. The exact activities involved in this process vary among salespersons, but some or all of these activities take place in a successful sale. When making a presentation to customers, salesmen usually use a combination of a canned approach and an interactive approach. Partnership Selling – formal arrangements between buyers & sellers that create unique, customized products & services for buyers. Relationship Selling – salesperson’s activities that are focused on building ties with customer.
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Sales Force Structure – how seller’s choose to organize salesfoce (i.e., geographic, customer, product lines,etc.) A Canned sales presentation - basically just a memorized message which the salesperson delivers.
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