Textbook Notes (367,844)
Canada (161,454)
Commerce (1,683)
Chapter 15

Chapter 15 Textbook Notes.docx

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Department
Commerce
Course
COMMERCE 2MA3
Professor
Stephen Charko
Semester
Fall

Description
Chapter 15: Personal Selling and Sales Promotion The Evolution of Personal Selling… •Personal Selling: interpersonal influence process involving a seller's promotional presentation conducted on a person-to-person basis with the buyer o Primary component of a firm's promotional mix when one or more of several well- defined factors are present: 1. Customers are geographically concentrated 1. Individual orders account for large amounts of revenue 2. The firm markets goods and services that are expensive, are technically complex, or require special handling 1. Trade-ins are involved 1. Products move through short channels 1. The firm markets to relatively few potential customers The Four Sales Channels… •Over-the Counter Selling: personal selling conducted in retail and some wholesale locations in which customers comes to the seller's place of business o Most frequent form of personal selling •Field Selling: sales presentations made at prospective customers' locations on a face-to- face basis o Network Marketing: personal selling that relies on lists of family members and friends of the salesperson, who organizes a gathering of potential customers for a demonstration of products •Telemarketing: promotional presentation involving the use of the telephone on an outbound basis by salespeople or on an inbound basis by customers who initiate calls to obtain information and place orders o Outbound Telemarketing: sales method in which sales personnel place phone calls to prospects and try to conclude the sale over the phone • Predictive Dialers weed out busy signals and answering machines • Autodialling allows telemarketers to dial numbers continuously • Random-Digit Dialling allows telemarketers to reach unlisted numbers and block caller-ID o Inbound Telemarketing: sales method in which prospects call a seller to obtain information, make reservations, and purchase goods and services •Inside Selling: selling by phone, mail, and electronic commerce Trends in Personal Selling… •Relationship Selling: regular contacts between sales representatives and customers over an extended period to establish a sustained seller-buyer relationship •Consultative Selling: meeting customer needs by listening to customers, understanding their problems, paying attention to details, and following through after the sale o Cross-Selling: selling several, often unrelated, goods and services to the same customer based on knowledge of that customer's needs •Team Selling: selling situation in which several sales associates or other members of the organization are recruited to assist the lead sales representative in reaching all those who influence the purchase decision o Virtual Sales Team: network of strategic partners, suppliers, and other who recommend a firm's goods or services Sales Tasks… •Three basic sales tasks may be identified: 1. Order Processing: selling, mostly at the wholesale and retail levels, that involves identifying customer needs, pointing them out to customers, and completing orders 1. Creative Selling: personal selling that involves situations in which a considerable degree of analytical decision making on the buyer's part results in the need for skillful proposals of solutions for the customer's needs 1. Missionary Selling: indirect type of selling in which specialized salespeople promote the firm's goodwill among indirect customers, often by assisting customers in product use • Sales Incentives: programs that reward salespeople for superior performance The Sales Process… • The sales process involves the following list of steps: 1. Prospecting and Qualifying • Prospecting: personal selling function of identifying potential customers • Qualifying: determining a prospect's needs, income, and purchase authority as a potential customer 1. Approach: salesperson's initial contact with a prospective customer • Precall Planning: use of information collected during the prospecting and qualifying stages of the sales process and during previous contacts with the prospect to tailor the approach and presentation to match the customer's needs 1. Presentation: personal selling function of describing a product's major features and relating them to a cus
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