...HANSON CANADA PROFESSIONAL SELLING SAMPLE OF QUESTIONS 1) Many studies dealing with incomes earned in the business community tell us that: A) salespeople earn significantly higher incomes than most other workers in the business communitY. B) salespeople earn siigntly less than other workers in the business community. C) salespeople earn about the same income as other persons in the business communitY. D) there are no relevant studies that link income and the salesperson. Answer: A ' 2) Which of the following statements accurately describes a career in selling? A) salespeople generally do not have good job security Bi salespeople have numerous opportunities to advance to middle-management ranks C) salespeople generally have lower incomes D) salespeople have limited opportunities for advancement Answer: B 3) ln sales, CSR stands for: A) Computer Sales Representative. B) Customer Service Representative. C) Customer Satisfaction Representative. D) Competitor Status Rating. Answer: B 4) All of the following describe a category of sales personnel in the field of manufacturing excePf: A) rack jobber. B) sales engineer, C) field salesPerson. D) detail salesPerson. Answer: A 5) All the following statements regarding careers in personal selling are true except: A) Sales careers can provide above-average psychic income. ei fne skills and knowledge needed to achieve success in the various selling careers vary greatlY. c) salespeople today have many...
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...Evolution of Selling Models that Complement the Marketing Concept May-14-14 11:57 AM Marketing Concept- a philosophy that says the firm should co-ordinate all its activities to satisfy its customers whole achieving its own goal Marketing Mix- a set of controllable, tactical marketing tools that consists of everything the firm can do to influence the demand for its product. These can be organized into four sets of variables; product, place, promotion, price Consultative Selling- an approach to personal selling that is an extension of the marketing concept. Emphasis is placed on need identification, need satisfaction, and the building of a relationship that results in repeat business Transactional Selling- a sales process that most effectively matches the needs of the value-conscious buyer, who is primarily interested in price and convenience The major features of consultative selling are as follows; 1. The customer is seen as a person to be served, not to be sold a. NEED DISCOVERY 1. The buyers needs are identified through two-way communication (key for sales person to learn about the needs of the consumer as much as possible) a. SELECTION OF THE SOLUTION 1. Helping the buyer make an informed and intelligent buying decision adds value to the sales process a. NEED SATISFACTION PRESENTATION 1. Emphasizes service at every phase of the personal selling process a. SERVICING THE SALE The Evolution of Strategic Selling Strategic...
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...kitchens- could be packed in flat, stackable boxes (Nelson and Quick, 2011-438)”. His way of running the company is based on creativity, hard work and being frugal in his own life as well as the way he runs his company. So frugal that when employees travel they must share hotel rooms, a policy not carried in any major company. The philosophies that he has developed for IKEA are distinctive and have provided a successful way of being very profitable. Kamprad’s leadership characteristics have made him a very wealthy entrepreneur and admirable person but with a dark past. A past that he does not deny but states that he has learned from this and according to some has a message to send to other that carries great wisdom. Issues Addressed Kamprad’s company IKEA has been on the rise along with that his personal problems also increased. Alcoholism, his history of Nazi affiliation, and store openings where people died were his biggest problems. Even during his personal problems he never failed to provide creativity for IKEA and to make sure the company was on the right track. He always found a way to lead his company in the direction to be successful despite his personal life. His appreciation for what it takes to be successful and the knowledge that he realizes “there are no guarantees to economic success tomorrow apart from hard work (Nelson and Quick, 2011-438).” Answering the Questions 1. Kamprad is the manager of IKEA, while he is not the CEO he still continues to...
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...and Objectives 1.1 Introduction 1.2 Marketing Concept 1.2.1 The Production Concept 1.2.2 The Selling Concept 1.2.3 The Marketing Concept 1.2.4 Relationship Marketing 1.2.5 The Societal Marketing Concept 1.2.6 Holistic Marketing Approach 1.2.7 Marketing Mix 1.2.8 Product (Customer Benefit) 1.2.9 Promotion (Marketing Communications) 1.2.10 Distribution (Customer Convenience) 1.2.11 Price (Customer Cost) 1.2.12 The Marketing Mix Coherency 1.2.13 The Marketing Mix Dynamics 1.3 Defining and Delivering Customer Value and Satisfaction 1.3.1 Customer Value and Satisfaction 1.4 Value Chain 1.5 Benchmarking 1.6 Delivery Network 1.7 Let us Sum up 1.8 Lesson-end Activity 1.9 Keywords 1.10 Questions for Discussion 1.11 Suggested Readings Marketing Management 1.0 AIMS AND OBJECTIVES In this lesson we shall discuss about–An introduction to Marketing Management. After going through this lesson you will be able to: (i) (ii) Understand Marketing Concept and customer value and satisfaction. Describe Value Chain and Benchmarking. (iii) Convey delivery network. 1.1 INTRODUCTION While a product could represent many different things, a good, however, is a tangible object that can be seen and touched. A service, while a good and in sharp contrast to it, represents an intangible product that may involve human or mechanical effort in its delivery. Services are being consumed increasingly by personal and organisational consumers and constitute a very important part of the economics of developed...
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...Concept m o 1.2.2 The Selling Concept .c rs 1.2.3 The Marketing Concept 1.2.4 Relationship Marketing 1.2.5 The Societal Marketing Concept e e 1.2.6 Holistic Marketing Approach in g 1.2.7 Marketing Mix 1.2.8 Product (Customer Benefit) n E 1.2.9 Promotion (Marketing Communications) 1.2.10 Distribution (Customer Convenience) O o 1.2.11 Price (Customer Cost) 1.2.12 The Marketing Mix Coherency D a 1.2.13 The Marketing Mix Dynamics a F 1.3 Defining and Delivering Customer Value and Satisfaction 1.3.1 Customer Value and Satisfaction 1.4 Value Chain 1.5 Benchmarking 1.6 Delivery Network 1.7 Let us Sum up 1.8 Lesson-end Activity 1.9 Keywords 1.10 Questions for Discussion 1.11 Suggested Readings www.jntuworld.com Marketing Management 1.0 AIMS AND OBJECTIVES In this lesson we shall discuss about–An introduction to Marketing Management. After going through this lesson you will be able to: (i) Understand Marketing Concept and customer value and satisfaction. (ii) Describe Value Chain and Benchmarking. (iii) Convey delivery network. 1.1 INTRODUCTION While a product could represent many different things, a good, however, is a tangible object that can be seen and touched. A service, while a good and in sharp contrast to it, represents an intangible product that may involve human or mechanical effort in its delivery. Services are being consumed increasingly by personal and organisational consumers...
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...• is a set of practices or activities necessary to transfer the ownership of goods, and to move goods, from the point of production to the point of consumption and, as such, which consists of all the institutions and all the marketing activities in the marketing process. 4. Describe and explain the relationship between marketing channels, supply chains, supply chain management, and logistics management. Provide examples. 5. Define Marketing and Social Marketing. Explain the similarities and differences between commercial and social marketing. 6. Discuss and describe the three forms of consumer ads. Discuss and describe the three forms of industrial ads. • 486-487 • 3 types • Consumer Product: focus on selling a good or service • Pionnering (informational) • Competitivte (persuasive) • Reminder • Institutional: build goodwill or an image for an organization • Advocacy • Pionnering institutional • Competitive institutional • Reminder institutional 7. Compare and contrast fear appeals, sex appeals, and humorous appeals in advertising. 8. Define...
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...INTRODUCTION TO MARKETING MARKET MEANING OF MARKET The term MARKET is derived from the latin word “MERCATUS” which means merchandise or a place where business is conducted. THUS MARKET WOULD IMPLY : * A place where goods and persons are physically present. * An assemble of people (buyers and sellers) * An area of operation * An act of buying and selling * A place where consumer’s wants are satisfied However in a general sense it is a whole of any region in which buyers and sellers are brought in contact with one another and by means of the prices of the goods tend to be equalized easily and quickly. * According to PHILIP KOTLER: “Market is an area or atmosphere for exchange.” * According to AMA: “Market is the aggregate demand of potential buyers for the product.” CONCEPTS OF MARKETS * In an Economic sense: Market is defined as the aggregate demand of potential buyers for the products, i.e. demand for the commodity. * From Social view point: Markets are institutions delivering quality of life to people. Thus the concept of market can be * Place Concept – A convenient meeting place for exchange of goods. * Area Concept – Any area providing a set of price making forces. * Demand Concept- It stands for people with need and wants to satisfy and have purchasing power. CLASSIFICATION OF MARKETS Markets can be classified on the basis of 1. ON THE BASIS OF AREA : * LOCAL MARKETS confine to locality mostly...
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...between you and your customers with the goal of selling your product or service to them. Communicating the value of your product or service is a key aspect ofmarketing. noun the action or business of promoting and selling products or services, including market research and advertising. Marketing is about communicating the value of a product, service or brand to customers or consumers for the purpose of promoting or selling that product, service, or brand. The oldest – and perhaps simplest and most natural form of marketing – is 'word of mouth' (WOM) marketing, in which consumers convey their experiences of a product, service or brand in their day-to-day communications with others. These communications can of course be either positive or negative. In for-profit enterprise the main purpose of marketing is to increase product sales and therefore the profits of the company. In the case of nonprofit marketing, the aim is to increase the take-up of the organization's services by its consumers or clients. Governments often employ social marketing to communicate messages with a social purpose, such as a public health or safety message, to citizens. In for-profit enterprise marketing often acts as a support for the sales team by propagating the message and information to the desired target audience. According to the American Marketing Association (AMA) Board of Directors,Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging...
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...Ch. 1 Marketing-a philosophy, attitude, perspective or mgt. orientation that stresses customer satisfaction. Organizational function & set of processes used to implement this philosophy. Mgt. Philosophies -Product: internal capabilities of firm vs desires/needs of market. Whats the best product? -Sales: people will buy more if aggressive sales techniques are used. -Market: focus on customer wants/needs. Achieve LT goals -Societal Marketing: some products customers want may not be in best interest Sales v Market Orientation -Organizations Focus: Sales: focuses on selling what the firm makes rather than making what market want. Market: customer wants and needs -Firms business: -Sales: product-Market: customer’s benefits -Those to whom the product is directed: Sales: everybody, the average customer Market: specific groups of people -The firm’s primary goal: Sales: profitability through sales volume. Don’t care whether or not you need it Market: achieve profit by meeting customer’s needs -Tools the organization uses to achieve its goals: Sales: promotion, personal selling, and advertising Market: create, communicate and deliver superior customer service and value Ch. 2 Strategic Planning- Managerial process of creating and maintaining a fit between the organizations objectives and resources and the evolving market opportunities. Focuses on LT growth Strategic Business Units (SBUs)- a number of very different businesses that a larger company manages. -SUBs have:...
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...next 5 years. Zoomlife Café will provide an environment of social interaction and relationship building through its layout, furnishings and strong implementation of Customer Relationship Management (CRM) education and training for staff. Marketing will be paramount in making ‘Zoomlife’ a household term and synonymous with a memorable experience. To create this ‘vibe’ a strong utilization in print advertising and social media will be used in marketing efforts. Emphasis will be placed on creating an experience that makes customers want to come back. Target markets include: 1. College students 2. Local business professional and employees 3. Local musicians and artists Company Description Praveen Injeti and myself, Madhu Enjati, established Zoomlife Productions, LLC, a photography company, in May of 2010. The primary focus was on portraiture for families, individuals and weddings. Since then, through conversations with my partner, the term ‘zoomlife’ has become a philosophy. “ZoomLife is about a moment in time you wish will never end. It is an experience, in fact, that...
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...organizational goals. (AMA). Marketing is meeting needs profitably. Marketing Philosophy The Marketing Philosophy comprises of Production Concept, Product Concept, Selling Concept , Marketing Concept, Customer Concept and Societal Marketing Concept The Production Concept The production concept says that the Consumers will prefer products that are widely available and inexpensive. To focus on achieving high production efficiency, low costs, and mass distribution. It is useful when (1) the demand for a product exceeds the supply; (2) the product’s cost is too high. Its examples are: Standard Raw Materials and Components, CD, LCD. The Product Concept The product concept says that Consumers will favor those products that offer the most quality, performance, or innovative features. It focus in making superior products and improving them over time. it common examples are Digital Camera, CPU. The Selling Concept The selling concept says that Consumers and businesses, if left alone, will ordinarily not buy enough of organization’s products. It focus on undertaking an aggressive selling and promotion effort. Its examples are unsought goods: encyclopedias, funeral plots, foundations. The Marketing Concept The marketing concept says that key to achieving its organizational goals consists of the company being more effective than competitors in creating, delivering, and communicating superior customer value to its chosen target...
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...ORIENTATION OF A FIRM (Production concept, Product concept, Selling concept and marketing concept) Marketing management wants to design strategies that will build profitable relationships with target consumers. But what philosophy should guide these marketing strategies ? What weight should be given to the interests of customers ? Very often, various interests conflict. There are four alternative concepts under which organizations design and carry out their marketing strategies : the production concept, product concept, selling concept and marketing concept. PRODUCTION CONCEPT The production concept holds that consumer will favor products that available and highly affordable. This is one of the oldest orientations that guide sellers. It gives too much importance to production of goods and services. Large scale production is the base of production concept. Hence, management should focus on improving production and distribution efficiency. Production is important in marketing as without production marketing is just not possible. This concept is still a useful philosophy in some situations e.g. A computer maker Lenovo dominates the highly competitive, price sensitive Chinese PC market through low labor costs, high production and efficiency and mass distribution. However, production concept is one-sided concept as production without considering the needs and expectations of consumers may not get the support of consumers. Companies adopting this orientation run a...
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...BUAD479 Chapter Outlines: Chapter 1: * Marketing is an organizational function and a collection of processes designed to plan for, create, communicate, and deliver value to customers and to build effective customer relationships in ways that benefit the organization and its stakeholders * Marketing explained: * Distinct activity in an organization- marketing department * Set of tasks, such as assembling, pricing and promoting, which may or may not be performed by the department that results in products, services, ideas, ad other tangible and intangible items * These items produce profits or achieve stated goals for an organization * Profits achieved by creating value for customers * Creation of value- realization of the benefits that are at parity or that exceed the cost of products, services, etc. * Customers search for value on a daily basis when making buying decisions * Marketing has roots in economics, psychology, sociology, and statistics * Economics- borrowed the idea of utility- satisfaction received from owning or consuming a product or service * Value that consumers attach to the products * Supply and demand for products influence price, production costs influence supply, and utility influences demand * If consumers perceive that a product has utility-> inclined to consider purchasing it * Need- necessity to meet an urgent requirement * Want- desire...
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...MKC1 Marketing: the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large 4 components of marketing 1. Creating: the process of collaborating with suppliers and customers to create offerings that have value 2. Communicating: Broadly describing the offering and its value to potential customers as well as learning from customers 3. Delivering: getting those offerings to the consumer in a way that optimizes value 4. Exchanging: trading value for those offerings Marketing’s 4 P’s 1. Product: goods or services (creating offerings) 2. Promotion: communication 3. Place: getting the product to a point at which the customer can purchase it (delivering) 4. Price: The monetary amount charged for the product (exchange) Value: Total sum of benefits received that meet a buyers needs Personal value equation: The net benefit a consumer receives from a product less the price paid for it and the hassle of effort expanded to acquire it Value = benefits received – (price + hassle) Hassle: The time and effort the consumer puts into the shopping process Marketing concept: A philosophy underlying all that marketers do, driven by satisfying customer wants and needs Market oriented: The degree to which a company follows the marketing concept Supply chain: All of the organizations that participate in the production...
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...definitions of marketing is “ meeting needs profitably.” 3 ALTERNATIVE PHILOSOPHIES THAT CAN GUIDE ORGANIZATIONS IN THEIR EFFORTS TO CARRY OUT THEIR MARKETING GOAL(S) THE PRODUCTION CONCEPT The production concepts, one of the oldest concepts in business, holds that consumers prefer products that are widely available and inexpensive. Managers of production– oriented businesses concentrate on achieving high production efficiency, low costs, and mass distribution. This orientation makes sense in developing countries such as China, where the largest PC manufacturer, Lenovo, takes advantage of the country’s huge and inexpensive labor pool to dominate the market. Marketers also apply the production concept when they want to expand the market. THE PRODUCT CONCEPT The product concept proposes that consumers favor products offering the most quality, per-formance, or innovative features. However, managers are sometimes caught in a love affair with their products. They might commit the “ better mousetrap” fallacy, believing a better product will by itself lead people to beat a path to their door. A new or improved product will not necessarily be successful unless it’s priced, distributed, advertised, and sold properly. THE SELLING CONCEPT The selling concept holds that consumers and businesses, if left alone, won’t buy enough of the organization’s products, so the organization must undertake an aggressive selling effort. It is practiced most aggressively with unsought goods buyers don’t...
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