by TheBusinessProfessor | Feb 23, 2025 | Principles of Marketing
Why are Sales Relationships Important? Building an maintaining professional relationships is important for salespeople for the following reasons: Assisting Intermediaries (Distributors, Retailers, etc.) in making sales Providing Tech Support to those purchasing the...
by TheBusinessProfessor | Feb 23, 2025 | Principles of Marketing
Why is it Important to Follow Up with a Customer after a Sale? It is important to follow up with a customer after making a sale for the following reasons: Reinforces a positive experiences Helps in Tracking Orders Builds or Strengthens Customer Relationships...
by TheBusinessProfessor | Feb 23, 2025 | Principles of Marketing
What is Upselling?Upselling is the suggestion of additional goods or services (or the suggestion of an more expensive product or additional feature or options) to increase the value of a sale. Many business models depend entirely on upselling to become profitable....
by TheBusinessProfessor | Feb 23, 2025 | Principles of Marketing
What is Lead Generation?Lead generation is the process of identifying prospective customer who have a need for and/or an interest in a particular good or service that your are selling. This generally results in a list or pool of sales targets for the salesperson to...
by TheBusinessProfessor | Feb 23, 2025 | Principles of Marketing
What is the Sales Process? The sales process generally consists of the following steps: Select Target Customers Prepare Sales Presentations/Sales Calls Make the Sales Presentation/Sales Call Close the Deal (Consummate the Transaction) Follow Up with the Customer...
by TheBusinessProfessor | Feb 23, 2025 | Principles of Marketing
What does a Salesperson Do?Salespeople generally undertake the following marketing tasks: Lead Generation – This means identifying potential clients. Qualify Leads – This means identifying potential clients that are actually capable and interested in...
by TheBusinessProfessor | Feb 23, 2025 | Principles of Marketing
What are the Benefits of Personal Selling?The primary benefits of personal selling include: Flexibility Required by some Products Allows for Relationship Building Provides Real-Time Market Information It is Most Effective What are the Negative Aspects of Personal...
by TheBusinessProfessor | Feb 23, 2025 | Principles of Marketing
What are the types of Consumer Decisions?Consumer decisions can be categorized into three primary types: Routinized Response – This is the kind of decision where you don’t really have to think much about it. Limited Problem Solving – This type of...
by TheBusinessProfessor | Feb 23, 2025 | Principles of Marketing
What are the Types of Need-Motivated Consumer Decisions? Consumer decisions can be motivated by the following types of needs. Each of these needs are drawn from Maslow’s Hierarchy of Needs. While an individual may have various types of needs at once; generally,...
by TheBusinessProfessor | Feb 23, 2025 | Principles of Marketing
What is the Consumer Decision-Making Process?The steps in the consumer decision-making process are as follows: Need Recognition – This is when a person decides that they need something. It could be a product or change of situation. Information Search –...
