BET430 Lecture Notes - Lecture 21: Sales Process Engineering, Retail, Personal Selling
16 Dec 2018
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Document Summary
B2c: individuals or organizations that sell goods or services to final customers for their personal, non-business use. 70% of our economy is driven by consumer spending so it is very important for our economic growth. B2b: 30% of our economy is from business and government spending but that is heavily influenced by consumer spending. B2c drives b2b production/scale and produces taxes for government. When it is person to person, the same fundamental sales principles apply. Basic selling techniques can be used effectively when adapted to any retailing situation. Sales process, sales cycle, and conversion ratios all apply. Biggest difference is usually the length of the sales cycle. Most instore and online transactions are lower dollar purchases and therefore faster decisions. Quickly understanding customer needs and matching available products is the goal. Personal selling style and skills are very important. Accurately completing and supporting the transaction is critical for long term customer satisfaction and loyalty.
