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Marketing: The Core 8th Edition

Marketing: The Core (8th Edition)

Book Edition8th Edition
Author(s)Hartley, Kerin
ISBN9781260711455
PublisherMcGraw-Hill, Inc.
SubjectBusiness
End of Chapter
APPLYING MARKETING KNOWLEDGE

Chapter 18, End of Chapter, APPLYING MARKETING KNOWLEDGE, Exercise 1

Page 511

Here is a tip:

Middlemen are those who bridge the gaps between manufacturers and consumers in terms of delivering the product.

Explanation

Personal selling is a process where the product is sold directly to the consumer.

However, the steps followed by individual J in the process were as follows: 

 

  • Prospecting through lead generation- In this stage, an individual searches for potential customers and identifies the qualification for potential customers. In this process of personal selling, individual J calls each of the members and asks them to provide the basic information about their investment in stocks. While the prospects with no broker were asked about further investment patterns which depicted the art of qualifying the prospects.
  • Pre Approach to the prospects- In this stage, an individual gathers necessary information and makes decisions on how to approach the prospect. In this process of personal selling, individual J called for those people who were interested in her/his discount brokerage services by giving them investment advice and asking them if they were interested in opening an account.

Verified Answer

The steps followed by Individual J were as follows: 

 

  • Prospecting through lead generation.
  • Pre approach to the prospects.
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Page 511