4.01 Explain the importance and types of selling.

Selling Selling is the exchange of goods and services from _________to __________ for a price. Businesses and sponsors might ________ incentives, media time, naming rights, pre-/post-game entertainment, signage, ______ (group or season), and products designed for the corporation's target _______.

Selling Continued... ________ of sponsored products should ________ as a result of advertisement at an event. Sponsors _____ a rights fee for media time to a sports or entertainment organization for the opportunity to provide broadcasts.

Data-based marketing Data-based ________ involves the collection or ________ about past, current, and _________ consumers. In _______ marketing, a database is needed to generate leads or sources of new customers.

Data-based marketing continued... One common way to generate leads is through __________. Telemarketing is communicating with customers via the telephone. Ex: ________________________________ ________________________________

Personal Selling Personal selling is a two-way communication between a representative of the company and the customer. Ex: ________________________________ ________________________________.

Business to Business Selling B2B selling takes place in a manufacturer’s or wholesaler’s showroom (inside sales) or a customer’s place of business (outside sales). Ex: ________________________________ ________________________________

Direct Mail Direct mail is personal and received in the mailbox. Used to initiate the sales process. Ex: _______________________ _______________________

Internet Selling Internet Selling (www) is executed using the Internet. Ex: _______________ _______________ _______________

Customer vs. Consumer The customer is the person who buys the product or service The consumer is the person who uses the product or service Ex: ________________________________ ________________________________ ________________________________ ________________________________.

Need vs. Want A need is anything necessary or required to live. EX: _____________ A want is an unfulfilled desire. EX: Tickets to a Carolina Panthers football game. It is crucial that sports and entertainment businesses help customers recognize the ______ and need of the products.

Selling and Full-Menu Marketing Selling helps customers make informed buying decisions, which results in customer satisfaction and repeat business. Full-menu marketing is having products or services that meet virtually any customer's needs and/or wants.

Feature-Benefit Selling Product features are the basic, physical, and extended characteristics of an item. Ex: ____________________________. Involves matching the characteristics of a products to a customer’s needs and wants. EX: ________________________________.

Feature-Benefit Selling Continued... Customer benefits are the advantages or personal satisfaction a customer will get from a good or service. Ex: ________________________________ ________________________________ ________________________________.

Customer Buying Motives Buying motives are the motives for to purchase a product. Rational motives Emotional motives Patronage motives

Rational Motives Based on conscious, logical thinking and decision making. Product dependability, time or monetary savings, quality, and price are rational motives for buying or purchasing a products or service. Ex: _________________________________________ ________________________________________.

Emotional Motives Based on feelings Social approval, recognition, power, love, and prestige are emotional motives for buying or purchasing a product Ex: ___________________________________ __________________________________.

Patronage Motives- Based on loyalty Low prices, high quality, friendly staff, great customer service, merchandise assortment, and/or convenience of location are patronage motives for buying or purchasing a product. Ex: _________________________________________ ________________________________________.

Decision Making Process Customers go through a decision-making process in order to determine what products they will buy.

Extensive Decision-Making Occurs when there is a high level or perceived risk, a product or service is very expensive or has a high value to the customer. A customer will conduct research and evaluate product alternatives before making a decision Ex: ___________________________________ __________________________________.

Limited Decision Making Occurs when a customer buys products that he or she has purchased before but not regularly. Ex: ______________________________________ ______________________________________ _____________________________________.

Routine Decision Making Occurs when little info. is needed about the product being purchased Ex: ___________________________________ __________________________________.

Activities that take Place During the Preapproach Product information Reviewing current trade periodicals Sources and methods of prospecting

Product Information Knowing how to use and care for a product is essential when educating consumers and demonstrating a product. EX: Demonstrating to a customer the proper way to oil a baseball glove. Four sources of product information are direct experience, written publications, other people, and formal training. Ex: Debbi is a sales associate for Foot Locker. She attends an Adidas clinic on the proper way to fit children for shoes.

Reviewing Current Trade Periodicals It is crucial to stay abreast of current trends and industry information. The sales manager for the Carolina Hurricanes subscribes to Street & Smith’s Sports Business Journal

Sources and Methods of Prospecting A prospect is a potential customer. Ex. Employer leads, telephone directories, trade and professional directories, commercial lists, customer referrals and cold canvassing. Ex. _____________________________________ ___________________________.