An organizational process for communicating, creating, and delivering value to customers and managing relations that benefit the business.
What are the four main elements for the marketing mix?
1. Product
2. Price
3. Place
4. Promotion
What is selling?
Communication of information to persuade a perspective customer to buying something that will satisfy their needs and wants.
What is the Golden Rule of personal selling?
The sales philosophy that states "Treat people as you want to be treated"
What is social responsibility?
Management's obligation to make choices and take actions that contribute to the welfare and interests of society as well as to those pf the organization.
What is a stakeholder?
Any group within or outside the organization that has a stake in the organization's performance.
What are four types of responsibilities stakeholders have? Explain
1. Economic: Be profitable.
2. Legal: Obey the law.
3. Ethical: Be Ethical and do what is right.
4. Discretionary: Contribute to the community and quality of life.
What are the different levels of moral development?
Level 1: Preconventional "What can I get away with"
Level 2: Conventional "What am I legally required to do"
Level 3: Principled "What is the right thing to do"
What does a salesperson do?
1. Create new customers.
2. Sells more to present customers.
3. Builds a long-term relationship with customers.
4. Provides solutions to customers' problems.
5. Provide service to customers.
6. Helps customers resell products to their customers.