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Personal selling

Marketing lecture11 personal selling and sales promotions

TermDefinition
Personal selling oral communication with potential buyers of a product with the intentions of making a sale. The personal selling may focus initially on developing a relationship with the potential buyer but will always ultimately end with an attempt to "close the sale".
6 Main roles of the sales forces 1)prospecting 2)communicating 3)selling 4)servicing 5)information gathering 6)allocating
Advantages of personal selling 1. face to face activities and high degree of personal attention 2. costomization of sales messages 3. prompt responses from consumers 4. delivery of large amounts of complex information
Disadvadvantages of using personal selling 1.cost of sales people 2. not cost-effective...a sales person can only call on one costomers
Seven steps of personal selling process 1.prospecting and qualifying 2.preapproaching 3.approaching 4.presentation and demonstration 5.handling objections 6.closing 7.following up
prospecting Identify qualified potential customers. The best source of prospects in referrals
qualifying a lead knowing how to identify the good ones and sceen out the poor ones.
prospects can be qualified by: 1.their financial abiliy, 2.volume of business, 3.special needs, 4.location, 5.possibilities for growth
preappeoaching learn as much as possible about a client
presenting and demonstrating sales person tells the "value story" to the buyer, showing how the company'soffer solves the consumer's problems.
closing 1. ask for the order 2. review points of argument
following up important inorder to have an loyal costomer
sales promotions making activities that stimulate consumer purchases and improve retailer or middlemen effectiveness and cooperation.
Sales promotions objectives 1.consumer promotions 2. trade promotions 3.sales force
consumer promotions urge short-term customers buying (imidiate sales)
trade promotions get retailers to cary new items and more inventory & promote the company's products
sales force fet more sales force support for current or new products
characteristics of sales promotions -oparates on a short term -use more rational appeal -fosters an imidiate sales -contributes highly to profitability (however doing it too frequent will also dilutes the brand)
9 methods of consumer sales promotions 1.coupons 2.cash refunds(or rebates) 3.price packs(also called cents-off deals) 4.samples 5.patronage rewards 6.point-of-purchase(POP) promotions 7. contests, sweepstakes and games 8. premiums 9.advertising specialties
Trade promotions persuade resellers to carry a brand, give it shelf space, promote it in advertising and push it to consumers.
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