Key Terms
Personal selling
One-on-one buyer-seller interaction; relationship focused Relationship selling: building trust to become a trusted advis
Relationship selling
A method within personal selling where the salesperson becomes a trusted advisor. Best used when the product is high-pri
Sales promotion
A promotional strategy focused on inducing sales in the short term. The only promotion mix element with a direct, immedi
Formula
Total cost of marketing activities divided by number of customers acquired
Goal
Incentivize wholesalers and retailers to push the product toward consumers.
Prospect
Qualified potential customer with willingness, authority, and financial capacity to buy Sales leads: database of potenti
SFA
Software to acquire customers CRM: software to retain and manage customers Order taker: processes orders; inside (in-sto
Pull strategy
Incentivize consumers to seek out the product Opportunity win rate: sales closed divided by total opportunities Channel
Kickbacks
Illegal payments for preferential treatment; FCPA governs internationally Hidden fees: undisclosed costs attached to a p
Ambiguous terms and conditions
Unclear contract language that misleads the customer