Personal selling
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Personal selling involves oral communication between a salesperson and potential buyer with the goal of making a sale. It focuses on developing a relationship with the buyer and customizing the message before ultimately trying to close the sale. Personal selling provides benefits like customized messaging, feedback, and demonstration of the product, but it also has drawbacks such as expense and difficulty finding qualified salespeople. The personal selling process involves prospecting, communicating, selling, servicing, and gathering information from customers.
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Ppt on personal selling and its process
This ppt is all about the personal selling and its process.I explained each stage of its process by related to image of that process.
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Personal selling involves oral communication between a seller and buyer to influence a purchase decision. It is a two-way communication process that allows marketers to adjust their message to individual customers. The process of personal selling generally involves prospecting, pre-approach, presentation, demonstration, handling objections, closing the sale, and follow-up. It has evolved from door-to-door peddlers to a more professional function within business organizations.
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a) Market penetration pricing strategy is used when the retailer wishes to acquire revenue by setting a low price and selling a large number of product units.
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The personal selling process involves several steps from identifying and qualifying potential customers through closing the sale and following up. It starts with prospecting and qualifying customers to determine if their needs align with the company's products. Next, the salesperson prepares for their initial approach, where they make contact and assess the customer's specific wants. They then present and demonstrate the product features, handling any objections before closing by securing an order. Follow up ensures customer satisfaction and builds relationships for repeat business.
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Merchandise management
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A price strategy should reflect the company's own objectives and be related to the sales and profit. The goals to be achieved can be established as income and/ or volume units.
a) Market penetration pricing strategy is used when the retailer wishes to acquire revenue by setting a low price and selling a large number of product units.
b) High price strategy is used by the company to attract customers who are not concerned about the price, but the service and prestige. Usually the strategy does not maximize sales, but brings great profit per unit.
c) Cost-oriented pricing strategy The retailer sets the price, adding the operating expenses and desired profit to the cost per unit. The difference between the merchandise cost and the selling price is the trade margin. With a variable margin policy, retailers adjust the margins on merchandise categories.
d) The strategy of prices adjustment to market conditions The retailer may adjust prices according to the demand or market segment. The best example of adapting the retailer prices from Romania to the market demand are represented by some food prices (oil, sugar, flour) and durable goods prices (electronics, appliances, cars) in 2008.
e) Competition-oriented price strategy A retailer can use competition prices as guide. A company may not modify prices if there have been changes in demand or costs, if they are not modified by competition. Similarly, a firm may change its prices if the competition changes them, even if there have not been changes in demand or costs.
3. Place
Some specialists substituted in the literature the term "distribution channel" with "marketing channel” This change aims to emphasize the role of intermediaries in the distribution process, to create value for users or consumers, adding the utility of form, possession, time and place. In addition, the role of marketing channels is not only to participate in demand satisfaction by offering goods and services, but it also requires active participation to stimulate demand through information, creating proximity and promotion developed by members of the economic units network that form the channel. The product must be available at the right place (Product category), at the right time (time you sell your product), and in the right quantity (enough stock).
4. Promotion
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The document discusses key topics in personal selling and sales management. It covers the personal selling process, different types of sales roles, sales management responsibilities, and techniques. Personal selling involves relationship building between buyers and sellers. Sales management involves planning, implementing, and controlling a firm's selling efforts. The personal selling process has six stages: prospecting, preapproach, approach, presentation, close, and follow-up.
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The document discusses various elements of promotion mix including advertising, personal selling, sales promotion, direct marketing, and publicity. It then provides definitions and examples of each element, describing techniques like print ads, television ads, sales presentations, coupons, contests, and direct mail. The document also covers objectives and types of various sales promotion techniques targeted at consumers or the trade.
Sales promotion: basic sales promotion techniques
This document provides an overview of basic sales promotion techniques. It defines sales promotion as a planned marketing activity that enhances a product or service's appeal and positively changes consumer behavior in return for an additional benefit. The document outlines various types of sales promotions like temporary price discounts, coupons, bonus packs, sampling, premiums, and sweepstakes. It also discusses the impact of promotions on consumers in economic, emotional and informational ways. Additionally, the benefits of promotions for timed purchasing, brand switching, and increased volume are presented, as well as some potential problems like lack of brand building and orienting managers to the short-term.
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Personal selling involves one-on-one communication to sell products or services. It plays a dominant role in industrial firms but a smaller role in other firms. Personal selling differs from other promotions in allowing immediate feedback. When determining the role of personal selling, firms examine alternatives and their effectiveness and cost. Personal selling has evolved from simply providing offerings to collaborating with customers to create customized solutions. It is an important part of relationship marketing and integrated marketing communications.
Advertising and Sales promotion
Advertising is a form of communication used to encourage or persuade an audience to take action. The objectives of advertising include preparing for new products, creating demand, facing competition, and informing customers. When developing an advertising message, companies must generate, evaluate, and execute the message. They must also consider the product life cycle stage, market share, competition, and advertising frequency when setting their advertising budget. Selecting the right media is also important, as it depends on factors like reach, frequency, and timing. Measuring the effectiveness of advertising allows companies to understand the communication and sales effects of their campaigns.
Sales Promotion
Sales promotion includes short-term tactics to provide added value or incentives to consumers, wholesalers, retailers, or salespeople to stimulate immediate sales. The objective is to build awareness, create interest, and increase short-term sales volume. Common consumer promotion tools include free samples, coupons, discounts, buy one get one offers, and combo packs. Major trade promotion tools given to retailers are price discounts, advertising allowances, free goods, and point-of-purchase displays to encourage purchasing and stocking certain products. An example given is Nike providing a 40% discount to attract new customers, increase store footfall, and clear existing stock.
Sales promotion developing the sales promotion plan
The document outlines the stages involved in developing an effective sales promotion plan, including environmental analysis, internal analysis, consideration of marketing strategy, identifying target audiences, determining objectives, and developing the promotional program. It emphasizes that the sales promotion plan should align with and support the overall marketing plan. Key stages in the planning process include situational analysis, setting objectives, budgeting, developing the promotional activities, implementation, and evaluation.
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Personal selling involves face-to-face communication between a seller and buyer with the goal of making a sale. It is one of the oldest forms of promotion. The personal selling process typically involves prospecting, pre-approach planning, the approach, presentation, handling objections, closing the sale, and follow-up. It is most useful for small businesses, concentrated markets, complex products, and those requiring demonstrations. Benefits include customized messaging, feedback, and building long-term relationships, though it also has higher costs than other promotional methods.
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Personal selling involves oral presentations to potential customers with the goal of making a sale. It allows for customized messaging and demonstrations as well as building relationships over time through frequent interactions. However, it also has high costs since it requires employing and incentivizing salespeople who can only reach a limited number of customers at once. Door-to-door selling is a form of personal selling but elicits mixed reactions from potential customers.
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This document provides an overview of personal selling. It defines personal selling as oral communication with potential buyers to make a sale. Personal selling is useful when a company is small, the market is concentrated, demonstration or customization is needed, or products are purchased frequently. The document outlines objectives, importance, principles, steps, keys to success, advantages, and disadvantages of personal selling. It concludes with definitions of personal selling from marketing organizations.
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brand
A brand is a name, symbol or design that identifies a seller's products and differentiates them from competitors. There are four key branding decisions: brand positioning, brand name selection, brand sponsorship, and brand development. Brand positioning involves establishing how the brand will be perceived in customers' minds based on attributes, benefits or beliefs. The brand name should be memorable, distinctive and suggest the brand's benefits. A brand can be the manufacturer's, a private label, licensed or co-branded. Brand development grows brands through line extensions, extensions to new categories, or launching multiple brands to target different segments.
Brand identity vs image
Brand identity is how a company wants to portray itself and be identified, representing what it desires to be. Brand image is the perception customers have of a brand, representing what they associate with it based on their views. For example, Coca Cola's "Open Happiness" theme is an example of its desired brand identity, while the graphical image of two hands for Nokia forms customers' brand image of the company.
Benefits of branding
This document discusses the hidden benefits of branding, including increased revenues and separating a business from its competitors through a unique brand strategy. As a brand strategy is developed and activated, brand positioning will start to take effect and awareness will grow over time. Some hidden benefits that branding provides include reduced marketing costs as brand visibility increases, greater customer engagement, becoming a trendsetter, getting better leads, and improving networking. Branding also ensures a brand never falls behind by providing clear and consistent messaging that creates a positive, up-to-date brand image to increase sales.
Benefits of branding to the manufacturer and customers
Branding provides benefits to both manufacturers and customers. For manufacturers, branding allows for easier advertising using the brand name, establishes a permanent product identity, promotes customer repurchasing, and creates brand loyalty that makes competing easier. For customers, branding makes shopping faster by making products easily identifiable, ensures better quality for branded products, and provides price stability with prices set by companies rather than fluctuating frequently.
Datawarehouse
The document discusses data warehouses. It defines a data warehouse as a relational database designed for analysis rather than transactions that contains historical data from multiple sources. It includes tools for extracting, transforming, and loading data from various sources and enabling analysis through OLAP engines and client tools. Data warehouses integrate information, maintain data history, improve data quality, and add value to other applications. While expensive to scale for complex data, they remain important for big data analysis.
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This document discusses the relevance of ERP software systems for small and medium enterprises (SMEs). It states that ERP systems can help SMEs maximize operational efficiency and transparency through integrated and automated processes. ERP systems also allow SMEs to monitor, manage, and improve their financial and organizational performance. The document further discusses how business intelligence solutions, SAP Edge planning and budgeting tools, and mobile access can provide SMEs with real-time insights and accelerate decision making. Finally, it claims that implementing an ERP system can help SMEs achieve fast growth, cut costs, and enhance performance.
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Benefit segmentation is the approach most consistent with the marketing concept because it focuses on the underlying motivations that drive consumer decision making. For example, a mother shopping for cookie ingredients is motivated by making her children happy, not by wanting cookies herself. Benefit segmentation can also be applied by an athletic footwear company to segment the market into trail runners, professional runners, and recreational runners, with each group seeking different key benefits from shoes.
CONSUMER BEHAVIOR by pearson
This document discusses consumer market segmentation. It defines segmentation as dividing a large market into identifiable subgroups with similar needs, wants or characteristics. The objective is to design a tailored marketing mix for each targeted segment.
There are five main bases for segmenting consumers: geographic, demographic, psychographic, benefits sought, and behavioral. Geographic looks at location factors. Demographic examines population attributes like age. Psychographic analyzes lifestyle and opinions. Benefits sought groups by desired product perks. Behavioral segments by relationship to the product or brand, such as usage level.
The document provides examples of how to jointly use two segmentation bases for four products: men's denim pants by urban/rural area and age; women
CONSUMER BEHAVIOR by pearson
The document discusses how marketers can use different types of consumer data for predictive analytics. It explains that websites visited can help predict purchase likelihood. Level of engagement data like pages viewed and return visits can also be used. Consumer interests, lifestyles and personalities revealed on social media can provide insights. Purchase history details such as abandoned carts and returns allow analysis of consumer behaviors. Predictive models help businesses attract, retain and profit from optimal customers.
CONSUMER BEHAVIOR by pearson
This document discusses consumer behavior and psychographic segmentation. It defines VALs (values, attitudes, and lifestyles) as a primary way to perform psychographic segmentation to understand consumers' inherent nature and how to attract them. It then provides examples of segmentation names (Innovators, Thinkers, Believers), their motivations, demographics, and consumption values/patterns. The document also discusses benefits Colgate toothpastes provide and how they target consumers. Finally, it discusses how dentists can position themselves by following up with patients and sharing their accomplishments to build patient confidence.
CONSUMER BEHAVIOR by pearson
Market segmentation is the process of dividing the overall market into smaller subgroups of consumers with similar preferences, needs, and characteristics. It involves segmenting the market based on demographics, geography, behaviors, and psychographics. Market segmentation is related to the marketing concept because it allows companies to develop tailored marketing strategies for each segment, helping them more effectively target customers and influence buying decisions. By understanding customer segments, organizations can promote their products to a wider audience in a way that appeals to the tastes of specific groups.
CONSUMER BEHAVIOR by Pearson
This document discusses how market segmentation, targeting, and positioning are interrelated stages in developing a marketing strategy. Segmentation involves dividing the market based on demographics or other factors. Targeting selects one or two segments to focus on and designs a customized marketing mix. Positioning occupies a unique and favorable place in customers' minds. These stages inform each other and help redesign existing products or position new ones. For Dove face wash, the document illustrates how segmentation focused on women over 18 concerned with skincare. Targeting targeted working women aged 21-35. Positioning positioned Dove as celebrating real beauty at all ages without photoshopping.
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This document discusses how market segmentation, targeting, and positioning are interrelated stages in developing a marketing strategy. Segmentation involves dividing the market based on demographics or other factors. Targeting selects one or two segments to focus on and designs a customized marketing mix. Positioning occupies a unique and favorable place in customers' minds. These stages inform each other and help redesign existing products or position new ones. As an example, a marketing strategy is outlined for Dove Pure Face Wash that segments the market by demographics and psychographics, targets working women ages 21-35, and positions the brand as celebrating real beauty at all ages without photoshopping.
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Targeting
Targeting involves selecting potential customers to sell products and services to. It is the process of selecting targets and matching appropriate responses. A target market includes a set of customers a company directs its marketing efforts towards. Companies invest time and capital monitoring target markets as not all products appeal to all consumers due to differences in spending power, age, location, lifestyles, income, region, climate, population factors, opinions, values, attitudes, interests and lifestyles. All marketing strategies begin with segmentation, targeting, and positioning.
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This document defines sales promotion as steps taken to increase or obtain sales. It discusses the objectives of sales promotion such as increasing sales, introducing new products, and meeting competition. The importance of sales promotion is that large amounts of money are spent on promotional activities to attract consumers. The document also outlines different elements of a sales promotion mix, including personal selling, advertising, direct marketing, sales promotion, and public relations. It provides examples of various sales promotion techniques targeted at consumers, trade partners, and the sales force.
Global marketing environment and current scenario
This document discusses global marketing and strategies for entering foreign markets. It outlines the key elements of the global marketing environment, including globalization, national business environments, and the international business environment. Some main reasons for firms to engage in global marketing are to gain access to new buyers, spread risk across international markets, and lower costs. Common strategies for entering foreign markets mentioned include exporting, licensing, joint ventures, and direct investment through foreign subsidiaries. The document also provides brief definitions of social marketing and relationship marketing in the global context.
Product differentiation
This document discusses product differentiation and positioning. It defines product differentiation as the process of distinguishing a product from competitors by adding new utilities, meeting market expectations through segmentation, and gaining competitive advantages. The document then outlines various types of differentiation including by form, features, customization, durability, style, price, reliability, and quality. For each type, it provides examples of companies that use those differentiation strategies. It concludes by discussing factors like reparability and service, how differentiation helps dominate market segments, and the objectives and tasks involved in product positioning.
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Public relations involves strategic communication to build beneficial relationships between organizations and their stakeholders. A PR department aims to cultivate a positive company image by planning promotional campaigns and events, facilitating interviews, distributing press releases and statistics, and organizing press conferences, to accommodate favorable media opportunities.
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Digital Marketing Trends - Experts Insights on How to Gain a Competitive Edge...
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Mastering Your Online Visibility - Fernando Angulo
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Boost Your Instagram Views Instantly Proven Free Strategies.
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Get admission in various courses and boost your employment opportunities.
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How to Kickstart Content Marketing With A Small Team - Dennis Shiao
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Concept of Marketing Information systems .ppt(1).pptx....
Personal selling
- 5. Personal selling is oral communication with potential buyers of a product with the intention 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. • High customer attention • Message is customize • Flexibility & adaptability • Minimum waste • Act as a feedback • Long lasting impression • Demonstration • Expensive • Difficulty of getting right kind of salesmen • More administrative problem • Mark of fraud • Bad pay masters • Limited reach
- 7. 1. Personal form 2. Development of relationship 3. Oral conversation 4. Quick solution of queries 5. Receipt of additional information 6. Real sale
- 8. 1. PROSPECTING 2. COMMUNICATING 3. SELLING 4. SERVICING 5. INFORMATION GATHERING 6. ALLOCATING
- 9. Personal selling is an important tool in the marketing of goods and services. Its importance to the businessmen, customers and society is discussed below.
- 10. Effective Promotional Tool Minimizes Wastage of Efforts Customer Attention Lasting Relationship
- 11. Helps in Identifying Needs Latest Market Information Expert Advice
- 12. Converts Latest Demand Employment Opportunities Career Opportunities
- 14. • Consultative selling is ideal for business selling. • It focuses on understanding customer needs and finding solutions. • It has a longer selling cycle compared to other selling methods.