The Power of Selling, 2010a

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o o Simon Cowell Angelina Jolie 4. Discuss what you would do in each of the following situations. Is it ethical behavior? o You are not really sick, but you want to take the day off. What do you say when you call your supervisor? o You are on a job interview for a job you really want, and the interviewer mentions that the candidate she hires will need to be fluent in Excel. Although you are familiar with Excel, you are not especially good at it and don’t really know all the features. What would you say when she asks you about your skill level with Excel? o You went on a business trip for the company you work for and are preparing your expense report. You are able to include tips, mileage, and other categories without a receipt. Since you’ve been working a lot of overtime without pay, you consider adding in an additional $25 to cover your extra hours; no one will notice. What do you do as you are completing the expense report? o Your boss takes the afternoon off but asks you to tell everyone at the staff meeting that he is in a meeting with a client. When you are in a staff meeting, a manager asks you why your boss isn’t there. What would you say? 5. [1] Elianne Friend, “Woman Fined to Tune of $1.9 Million for Illegal Downloads,”CNN.com, June 18, 2009,http://www.cnn.com/2009/CRIME/06/18/minnesota.music.download.fine/index.html(accessed February 13, 2010). 6. [2] John C. Maxwell, There’s No Such Thing As “Business” Ethics (New York: Center Street, 2003), 23–24. 7. [3] Manual Velasquez, Claire Andre, Thomas Shanks, and Michael J. Meyer, “What Is Ethics?” Santa Clara University,http://www.scu.edu/ethics/practicing/decision/whatisethics.html (accessed August 31, 2009). 8. 9. [5] College Confidential, http://talk.collegeconfidential.com/california-institute-technology/427749- ethical-dilemma-question.html (accessed August 31, 2009). 10. [6] Manual Velasquez, Claire Andre, Thomas Shanks, and Michael J. Meyer, “What Is Ethics?” Santa Clara University,http://www.scu.edu/ethics/practicing/decision/whatisethics.html (accessed August 31, 2009). Saylor URL: http://www.saylor.org/books Saylor.org 153
11. [7] Manual Velasquez, Claire Andre, Thomas Shanks, and Michael J. Meyer, “Ethics and Virtue,” Santa Clara University,http://www.scu.edu/ethics/practicing/decision/ethicsandvirtue.html (accessed August 29, 2009). 12. [8] Margaret Soltan, “Southern Illinois University an Official Laughingstock,” Inside Higher Ed, August 30, 2007,http://www.insidehighered.com/blogs/university_diaries/southern_illinois_university_an_official_la ughingstock (accessed February 18, 2010). 13. [9] Wendy Weinhold, “SIU Accused of Copying Plagiarism Policy,” Daily Egyptian, January 29, 2009, http://web2.collegepublisher.com/se/daily-egyptian/siu-accused-of-copying-plagiarism-policy- 1.1318397 (accessed February 18, 2010). 14. [10] Stefanie Fontenez, “Tax-Troubled Celebrities, Politicians, Outlaws,” CNN.com, April 15, 2008, http://www.cnn.com/2008/LIVING/wayoflife/04/15/famous.tax/index.html(accessed August 29, 2009). 15. [11] Danny Hakim, “Eliot Spitzer,” New York Times, Times Topics, August 31, 2009,http://topics.nytimes.com/topics/reference/timestopics/people/s/eliot_l_spitzer/index.html (access ed August 31, 2009). 16. [12] Gerhard Gschwandtner, “Lies and Deception in Selling: How to Tell When Customers or Prospects Are Lying to You,” Selling Power 15, no. 9,http://www.sellingpower.com/content/article.php?a=4256 (accessed March 16, 2010). 17. [13] “An Education in Ethics,” Selling Power Sales Management eNewsletter, April 17, 2002, http://www.sellingpower.com/content/newsletter/issue.php?pc=197 (accessed March 16, 2010). 18. [16] NewsHour Extra, “What Happened to Enron?” Paul Solman, PBS, January 22, 2002,http://www.pbs.org/newshour/extra/features/jan-june02/enron_past.html (accessed December 6, 2009). 19. [17] SearchCIO, “Sarbanes-Oxley Act,”http://searchcio.techtarget.com/sDefinition/0,,sid182_gci920030,00.html (accessed December 6, 2009). 20. [18] “Bernie Madoff Ponzi Scheme: Victim List Grows,” Huffington Post, December 15, 2008, http://www.huffingtonpost.com/2008/12/15/bernie-madoff-ponzischem_n_151018.html (accessed December 6, 2009). Saylor URL: http://www.saylor.org/books Saylor.org 154
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This text was adapted by The Saylor
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helping you learn and succeed. In f
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Sales professionals (left to right)
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Andrew Sykes, Pharmaceutical Sales
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Chapter 1 The Power to Get What You
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Pearson-Bernard, the president and
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Mac and fries, and you always know
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Personal selling is a powerful part
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But the bigger story is the fact th
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understand the power of collaborati
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departments, according to Dennis J.
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At times, however, sales and market
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6. [4] Bureau of Economic Analysis,
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Chapter 6 "Why and How People Buy:
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Resource Description information. J
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Choosing a career direction and wri
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managed your costs and time. Every
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Now that you have read this chapter
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2. Write your personal mission stat
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garage in 1976. Jobs said, “I was
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Contrary to popular belief, speakin
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evealed that boomers are more likel
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many can put it all together.” [2
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phone?” No techno-talk, no slick
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A good salesperson does more than s
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18. [13] Margaret Norton, “Is the
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Toshiba to manufacture laptop compu
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Types of B2B and B2C Selling When y
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outside salesperson. Inside salespe
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Title Description Industries manage
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Selling Power Magazine “50 Best C
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You’ve now seen how B2B, B2C, and
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want to focus on making a contribut
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14. [7] Justin Sorkin, “AT&T Urgi
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lasting impression. If you think yo
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Figure 2.8 Standard Résumé Incorp
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Now, it’s time to put your brand
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Step 4: Write Your Bullet Points On
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Consider the difference between the
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1. First paragraph. Introduction an
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Step 3: Write Your Cover Letter Wit
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Saylor URL: http://www.saylor.org/b
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KEY TAKEAWAYS Your résumé and co
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Now it’s time to put what you’v
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The Power of Building Relationships
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ather than what you want to sell he
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single man could and should be nurt
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For example, many companies offer l
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Trust Me “The check is in the mai
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No one likes to deliver bad news. B
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according to Tim Conner, sales trai
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Page 108 and 109: 29. [24] Tom Reilly, “Relationshi
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Page 114 and 115: Expressives are creative and can se
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Page 118 and 119: 16. [13] Barton A. Weitz, Stephen B
Page 120 and 121: providing an excellent method to ne
Page 122 and 123: Jon: Have you talked to anyone at U
Page 124 and 125: down an otherwise promising job can
Page 126 and 127: Search the social networking job bo
Page 128 and 129: 7. [3] Meredith Levinson, “How to
Page 130 and 131: Role: Pharmaceutical sales manager
Page 132 and 133: 7. Be professional; focus on facts
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Page 140 and 141: just like personal ethics, mean doi
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Page 146 and 147: You learned about creating your per
Page 148 and 149: These ten things are the principles
Page 150 and 151: Ludwig, author ofPower Selling, exp
Page 152 and 153: At some point in your selling caree
Page 156 and 157: 21. [19] Julie Creswell and Landon
Page 158 and 159: 44. [42] FedEx, “Company Informat
Page 160 and 161: Conduct, for example, explains when
Page 162 and 163: Family interests create a conflict
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Page 168 and 169: 9. [3] Starbucks, Business Ethics a
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Page 176 and 177: Now that you have read this chapter
Page 178 and 179: 2. What influences your values? Mak
Page 180 and 181: has often been referred to as a sof
Page 182 and 183: The same thing can happen in a sell
Page 184 and 185: Figure 5.3 Letter of Apology from J
Page 186 and 187: you receive the check. Specificity
Page 188 and 189: Take notes. While it may seem like
Page 190 and 191: Figure 5.4 The Impact of Intonation
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Page 196 and 197: extra time to review before you sen
Page 198 and 199: EXERCISES 1. Choose an advertisemen
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Etiquette Tips for Conversations, M
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The purpose of a business breakfast
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Now, we’re seeing a bit of a reve
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Don’t leave a long, rambling voic
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Proper etiquette is a necessity in
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10. [4] Kim Richmond, “Poll: Entr
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31. [25] Patrick Welsh, “Txting A
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An informational interview is exact
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Informational interviews are usuall
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Bring extra copies of your résumé
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Your interviewee will most likely s
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13. [8] “Informational Interviewi
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You are meeting with a potential cu
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and is best used for communicating
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The science of consumer behavior de
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what anyone did for a living, or if
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Although recovery will be going on
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to retailers such as Foot Locker, w
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and your decisions don’t put you
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Figure 6.7 Comparison of B2C and B2
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technology will not only be expensi
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The September 2009 issue of Vanity
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An individual such as a buyer, purc
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Content,http://www.associatedconten
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The Traditional View of the Seven S
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6. Evaluating proposals. After the
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world to solve the problem. This is
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Norm Brodsky is the owner of an arc
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Traditional Seven Steps of Selling
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Figure 6.10 Nutritional Information
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Source:http://www.thedailyplate.com
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Table 6.3 FAB in Action Product Fea
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The traditional B2B buying process
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15. [10] Bryan Eisenberg, “Buying
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40. [36] Bryan Eisenberg, “Want T
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Brand Positioning Point Feature Adv
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Choose a few work samples. Select s
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A word of caution: Your professiona
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6. [2] “Job Search: Back Up Your
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You are a salesperson for an advert
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Chapter 7 Prospecting and Qualifyin
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Saylor URL: http://www.saylor.org/b
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If you’re satisfied with his resp
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happens if the customer is not inte
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and prospecting for new customers.
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16. [13] Dave Dolak, “Sales and P
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good fit. Sometimes you aren’t ac
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1. Describe the ideal customer for
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It costs five times more to attract
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If you’re a member of the America
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Forget Google for a minute. It migh
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Database or Directory Good source f
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Business journals such as the Phila
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As a salesperson, you can use trade
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isn’t a qualified prospect. For t
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egin prospecting for another lead a
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latest Google search results based
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KEY TAKEAWAYS Prospecting takes c
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21. [15] Paige Palmateer, “Inaugu
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employment agencies. This is a fair
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you might or might not find later o
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Local business journals, like the P
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Business Directories and Databases
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sites to gather stats. Publicly hel
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3. When a customer says, “It’s
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9. There are several business journ
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service in order to make a decision
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Listing your goals in writing befor
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Sporting Goods, Dick’s Sporting G
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presentation. For instance, you mig
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the company also has a communicatio
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companies or people he has worked w
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13. [7] Marcel Sim, “Leveraging Y
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play MP3s, store a day planner, sur
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for instance—can often be a surpr
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question early on in the sales call
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8. [2] Mark Anthony, “The Psychol
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According to Gary Duncan, principal
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SMART objectives give you the power
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3. Assume you are a financial advis
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order. For example, Szaky knows tha
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2. Assume you are the director of d
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tool, in combination with five othe
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on your part. If one of your target
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SMEI http://smei.associationcareern
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Internships and professional organi
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Use networking sites like LinkedIn
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You can determine SMART precall obj
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TEST YOUR POWER KNOWLEDGE ANSWERS 1
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The Approach: The Power of Connecti
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Communication Customization Collab
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taste in shoes. As long as the appr
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you will read more about the dos an
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included fifteen-second audio spots
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7. [4] Brian Johnson’s Philosophe
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9.2 How to Start Off on the Right F
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Approaching by Telephone Establishi
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uilding up your wardrobe so that yo
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prospect’s name in the heading an
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new contacts: “I thought you migh
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stop by on Tuesday morning so we ca
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in the retail environment as it is
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Customers can’t seem to stop sayi
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1. Take the listening quiz by click
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19. [12] Sharon Drew Morgan, “Thi
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43. [36] Donna Siegel, “Relations
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fewer paper jams than any other cop
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contact you. She thought your compa
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ing out several products for custom
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move straight into a question or cu
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9.4 Overcoming Barriers to Success
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to go through the gatekeeper first.
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2. Imagine that you are a sales rep
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Your elevator pitch is critical bec
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ask the person for their business c
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Power Wrap-Up Now that you have rea
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3. Use your elevator pitch in a pro
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about to connect in an exciting way
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presentations to their prospect’s
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will you have to find a parking gar
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EXERCISES 1. You are preparing for
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to take off a jacket and tie than t
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EXERCISES 1. Review the clothes tha
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A good salesperson can read group d
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keeping an eye on group dynamics du
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When the five executives arrived, W
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It is also important to resist the
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salespeople who are starting out an
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won’t get read. [30] Don’t rely
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A cost-benefit analysis asks the qu
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through but (b) establishing a conn
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2008,http://www.completeselling.com
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36. [29] Geoff William, “The Perf
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prospect you have already met.) [4]
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You: So your IT people have regular
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In smaller sales, obtaining commitm
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unstated needs: situation, problem,
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1. Learn the five steps of a succes
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that shows how outsourcing your bac
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to make sure you understand and hav
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information you are presenting and
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a call to action that asks the pros
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Timing: When to Deliver Your Propos
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The most important ingredient of a
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18. [10] Kelley Robertson, “How t
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10.6 Selling U: Selling Yourself in
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Does this company deal in B2B or B2
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important to be honest when you res
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Interviewers often ask this questio
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Step 8: Prepare Your Wardrobe Your
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A job interview is like a sales pre
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18. [15] Kim Richmond, Brand You, 3
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PUT YOUR POWER TO WORK: SELLING U A
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Chapter 11 Handling Objections: The
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What Are Objections? Objections, al
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what you can deliver and by when. I
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When Prospects Object While you may
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identifying his problem, and presen
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2. Try to sell your professor on co
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11.2 Types of Objections and How to
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Don’t say anything negative about
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When a prospect has a source object
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car has what you want. At this poin
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uild a deeper trust. [18] Just as w
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14. [7] Felice Philip Verrecchia,
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This is another opportunity to refe
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Mention something specific that you
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Do proof your thank-you e-mail or n
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Thank-you notes are a reflection of
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You understand how to use a follow-
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3. A prospect may object at any tim
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salesperson who continues to follow
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Relationship selling doesn’t work
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http://www.bestsampleletters.com/sa
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Web site so unique is that you can
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a negative impact on the company’
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6. Imagine that you are a sales rep
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28. [22] Tamara Monosoff, “Focus
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asking customers what they think ca
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(scores of 7 to 8), reflect poorly
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14. [8] Rob Markey, Fred Reichheld,
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Plan your route. Even though you pr
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1. Assume you just accepted a job o
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You can identify ways to add value
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2. Identify someone who already wor
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unstructured, and sometimes unpredi
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his insights to help you be success
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Procurement or product development
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Figure 14.3 Activities of Salespeop
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Poor planning. Avoid getting caught
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Being successful in sales doesn’t
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one of the components of the compen
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draw. This is an advance against fu
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some performance KPIs and conversio
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KPI Name Calculation KPI Goal Avera
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Activity Color (Red, Yellow, Green)
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Activity Comments Time to complete
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[10] Data from Gerald L. Manning, B
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[32] Jim Kahrs, “Sales Compensati
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passion and desire he played with,
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It may seem counterintuitive, but t
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It’s virtually impossible to be s
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3. Assume you are a designer and yo
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2005,http://kansascity.bizjournals.
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find the right internship to help y
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Your campus career center and facul
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eight hours for every twenty-four-h
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Professional Organization Informati
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8. [5] Kim Richmond, Brand You, 3rd
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7. Is it possible for an employer t
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sites and review the mission, event
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15.1 The Power of Entrepreneurship
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Approximately 75 percent of new job
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These facts reflect the importance
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Tech-savvy teenagers are starting o
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Best Social Entrepreneurs View the
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View Entrepreneur magazine’s list
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2008, http://www.america.gov/st/bus
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43. [40] Scott A. Shane, “Failure
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a business plan are standard. The f
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Private investors may want to have
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When you present your business plan
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Entrepreneur: Noah Lehmann-Haupt Ho
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Entrepreneur: Jeremy Bloom Article:
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Resource Name and Web Site Descript
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Resource Name and Web Site Descript
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You can describe the impact that en
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3. Free market system is an economy
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