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Personal Selling
 

Personal Selling

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Personal Selling Personal Selling Presentation Transcript

  • PERSONAL SELLING ( MEANING )
    • Personal selling is selling technique involved between
    • person to person and between the prospective buyer
    • and seller.
    • Personal selling consists of human contact and direct
    • communication rather than impersonal mass
    • communication.
    • Personal selling involves developing customers
    • relationship, discovering & communicating customer
    • needs, matching the appropriate products with these
    • needs.
  • PERSONAL SELLING (MEANING)
    • Personal selling is the most significant
    • promotional tool in terms of number of people
    • employed.
    • Personal selling is so important because the
    • sales person is the catalyst that making reaction
    • in the Marketing activities.
    • Eg: Business Firms, factories, Retailers, Banks, Hotels, Personal Computers, Laptops For Institutes, Audio Visual Equipments etc…
  • METHODS OF PERSONAL SELLING
    • Retail selling :
    • Selling to ultimate consumer.
    • Field Selling :
    • Business to business selling that take place in the prospective customer's place of business.
    • Telemarketing :
    • Using the Telephone as the primary means of communicating with prospective customers & Telemarketers often used computers for order taking.
    • Inside Selling :
    • Business to business selling in the Sales person’s place of business.
  • Characteristics (P.S)
    • 1) PERSONAL SELLING IS FLEXIBLE.
    • PERSONAL SELLING BUILDS RELATIONSHIPS.
    • PERSONAL SELLING PRODUCE IMMEDIATE RESPONSE.
  • STEPS IN PERSONAL SELLING "Todays sales people tomorrow's Glogal Managers" CLOSING HANDLING OBJECTIVES PRESENTATION & DEMONSTRATION FOLLOW UP PROSPECTING & QUALIFYING PREAPPROACH APPROACH
  • Marketing Planning
    • Henry Fayol stated, “ Marketing planning refers to forecasting and providing a means of examining action.”
    • Marketing planning involves the setting of marketing objectives, choice of marketing mix, selection of markets and designing of marketing programs for each product-market for a specified future period.
  • Nature of Marketing Planning
    • It is based on marketing information system.
    • It is an unending process because selling is a continuous
    • process, not a single act.
    • It is a process of building the foundation of confidence
    • with every prospect and future sales, rests on that
    • foundation.
    • This foundation is created by :
    • 1) Understanding the basic needs which should be
    • satisfied.
    • 2) Identifying the prospects that we have those needs n
    • wants.
    • 3) Making the prospects recognize the needs
    • 4) Convincing the prospects that the product will satisfy
    • his needs.
  • Importance of Marketing Planning
    • 1. Planning focuses on future direction, values and sense of purpose in which basic objective tell the direction of the growth.
    • 2. Planning helps to identify potential market opportunities and threats.
    • 3. Planning offers standards of performance for comparison and evaluation of actual performance.
    • 4. Planning provides a unique decision-making framework and facilitate co-ordination of efforts.
    • 5. Planning enables the organization to tune in business with the environment and establish a profitable relationship with the environment.
  • Benefits of Marketing Planning
    • Makes the company basically Market/Consumer-
    • oriented.
    • 2 . Encourages systematic thinking-ahead by
    • management.
    • 3 . Helps to identify the opportunities and the
    • problems.
    • Due to marketing planning, at the time of
    • planning we can get new ideas due to group efforts.
    • 5 . Planning injects innovations in the product or
    • organization.
  • Marketing planning is of two types namely:-
    • On the bases of time planning can be classified into two as:
    • 1) Short Term Planning.
    • 2) Long Term Planning.
    • Marketing planning cam also be classified under the heading Firm perspective/marketing perspective as:
    • 1) Operational Marketing Planning.
    • 2) Strategic Marketing planning.
  • Marketing Planning Process
    • Planning generally means looking into the future.
    • According to Henry Fayol “ Marketing planning
    • refers to forecasting and providing a means of examining the future and drawing up a plan of action.
    • Another feature of marketing planning is that it is an unending process. This is because selling is continuous process and not a single act.
  • Conceptual Process Assess areas of marketing opportunities. Determining market goals . Operational Process Developing The Marketing action Coordinating marketing action Evaluation of marketing Program. MARKETING PLANNING PROCESS
  • Strategic Marketing Planning Process Defining organizational goals Establishing strategic business unit (SBU) Setting Marketing Objectives Situation Analysis Developing marketing strategy Implementing tactics Monitoring results
    • 1) Defining organizational goals:
    • It refers to a long time commitment to a type of business and a place in market.
    • 2) Establishing strategic business unit:
    • Each SBU is a self-contained division, product line or product department with in an organization with a specific market focus and a manager with complete responsibility for integrating all functions into a strategy.
  • 3) Setting marketing objectives: Marketing objectives are not independent but are closely related to business goals. The objectives should be formulated in quantitative and qualitative statements. 4) Situation analysis: It is one of the preparatory exercises for setting marketing objectives. In this analysis, an organization identifies the marketing opportunities and potential problem it faces.
    • 5) Developing marketing strategies:
    • A marketing strategy outlines the manner in which marketing mix is used to attract and satisfy the target markets and accomplish the organization’s objectives.
    • 6) Implementing tactics:
    • Whatever strategies are developed, they
    • are implemented in the marketing areas.
    • 7) Monitoring results:
    • The results arising out of marketing planning are monitored and the deviations are corrected for achieving desired results.
  • Boston Consulting Group Approach (BCG)
    • The Boston Consulting Group is a leading management consultant firm in US, developed an approach known as BCG Growth Share Matrix.
    • Two variables taken in this matrix were:
    • 1) The Market Growth Rate.
    • 2) Relative Market Share of an SBU.
    • Market growth rate is shown in the vertical axis, which represents the annual growth rate of the market which the SBU operated.
    • The Relative market share of SBU is hone on the horizontal axis.
  • 24 22 20 18 16 14 12 10 8 6 4 2 0 3 2 1 Question marks Stars 4 6 Cash cows 5 7 Dogs 8 High Market Growth Rate (%) Low 10 High 8.0 6.0 4.0 2.0 1.5 1.0 0.8 0.5 0.1 Low Relative Market Share
    • The BCG matrix categorized SBU into four groups
    • Question marks.
    • Stars.
    • Cash cows.
    • Dogs.
  • 1. Question Marks:
    • These SBUs struggling to make there presence felt in a high market growth areas.
    • Most of the SBUs in this segment is in the initial period of their launch.
    • The firm has to decide whether it should continue to invest in these SBUs or not.
  • 2. Stars:
    • These are the SBUs in which the firm has acquired market leadership.
    • This situation occurs only when the firm has successfully evolved strategies to convert Question Marks into Stars.
  • 3. Cash Cows:
    • These SBUs are generating desired cash for the company. In this the company already occupies a market leader position.
    • In this, the Brands are household and the Firm has to do very little to market them. Eg. Colgate, Lux, Lifebuoy and Godrej products (Godrej falling)
  • 4. Dogs:
    • These SBUs have lost their glamour.
    • The firm has lost the market leadership and market is also not growing at a high rate.
    • The recommended strategy is to “KILL THE DOG” or “DROP THE PRODUCT” from product line.
  • Marketing Audit :
    • Meaning:
    • “ Marketing audit is a comprehensive systematic, independent and periodic examination of a company (or) business units and recommending a plan of actions to improve the company’s marketing performance”
    • A market audit is a systematic critical review and appraisal of the environment and the company’s marketing operations.
    • It is a powerful tool in ascertaining whether a company is in its dynamic phase and under rapidly changing marketing environment (or) not.
    • Marketing audit may also referred to as situation analysis.
    • A marketing audit included a careful appraisal of a company’s past performance as well as an evaluation of its marketing strength.
    • Thus its is a systematic and thorough examination of company's marketing position.
    • Types:
    • There are two types of marketing audits
    • 1. Horizontal marketing audit.
    • 2. Vertical marketing audit.
  • Components Of Marketing Audit Part I. Marketing Environment Audit
    • (a) Macro environment:
    • 1. Demographic.
    • 2. Economic.
    • 3. Environmental.
    • 4. Technological.
    • 5. Political.
    • 6. Cultural.
    • (b) Task environment :
    • 1. Markets.
    • 2. Customers.
    • 3. Competitors.
    • 4. Distribution &
    • Dealers.
    • 5. Suppliers.
    • 6. Facilitators &
    • Marketing
    • Firms.
    • 7. Publics.
  • Components Of Marketing Audit
    • Part II. Marketing Strategy Audit
    • Business Mission.
    • Marketing Objectives & Goals.
    • Strategy.
  • Components Of Marketing Audit
    • Part III. Marketing Organization Audit
    • Formal Structure.
    • Functional Efficiency.
    • Interface Efficiency .
  • Components Of Marketing Audit
    • Part IV. Marketing System Audit
    • Marketing Information System.
    • Marketing Planning System.
    • Marketing Control System.
    • New-Product Development System.
  • Components Of Marketing Audit
    • Part V. Marketing Productivity Audit
    • Profitability Analysis.
    • Cost-Effectiveness Analysis.
  • Components Of Marketing Audit
    • Part VI. Marketing Function Audit
    • Products.
    • Distribution.
    • Price.
    • Advertising, Sales, Promotion, Publicity & Direct Marketing.
    • Sales Force.