Marketing and sales differ greatly, but have the same goal. Scene 1: NEW FIRM, NEW PRODUCT LINE/MIX 13 Personal selling to consumers takes place through retail and direct-to-consumer channels. Personal selling is just one of many skills you should have in your sales toolbox. Prospecting and Qualifying Stage One – Prospecting. Psychological resistance includes resistance to interference, giving importance for well established brands, apathy, impatience, reluctance to participate in the talk, unpleasant situation created by the salesperson, aversion towards decision making, etc. The rep asks questions, listens to buyer concerns and recommends the right product or service solution. The personal selling process consists of a series of steps. 3. The 5 Cs of Selling ... Cronyism emerged in the industrial boom following World War II when the sales process was about making personal connections and home visits were common. For example, salesmen go to different societies to sell the products. Prospecting is all about finding prospects, or potential new customers. Personal Selling Process – Identifying the Prospective Buyer, Pre-Approach, Approach, Presentation, Demonstration, Overcoming Objection, Closing and a Few Others; Personal Selling Process – Prospecting, Evaluating, Approaching the Consumer, Preparing for the Sale, Making the Presentation, Overcoming the Objection and a Few Others The Nature of Personal SellingTo integrate the PS effort into the overall promotional program, we must understand the nature of this tool.Wotruba has identified five distinct stages of personal selling evolution:1. “Commodities are fungible, goods tangible, services intangible, and experiences memorable.” Moreover, two people cannot have the same experience because each experience derives from the interaction between the stages event and the individual’s state of mind. At this point your only goal is to get the prospect’s attention so that you can determine what kind of product or service best fits their needs. Personal selling allows the marketer to communicate directly with the prospect or customer and listen to his or her concerns, answer specific questions, provide additional information, inform, persuade, and possibly even recommend other products or services. Describe the role of the advertising agency. All of them involve the action you need to take when you haven’t spoken yet: looking them up online. There is direct interaction between the buyer and the seller. Each step of the process has sales-related issues, skills, and training needs, as well as marketing solutions to improve each discrete step. Some sales organisations will blend together some of these stages. Sales person can send an email and ask whether a customer is happy in a very quick and efficient way. How to choose best agency for International Market Research? While personal selling positions have been categorized into taxonomies, a longitudinal view of how selling jobs change or evolve has not yet been provided. This is the first stage of every sale. 3. 5. Promotion and role of personal selling: 7 Outline the four tools of marketing and explain advertising’s relationship to them 6. Read on for 5 examples of personal selling that take place over email. The 5 Basic Stages of Selling. There are three styles of sales presentation, namely. Scene 4: OLD FIRM, OLD PRODUCT/SERVICE. Prospects should be 'qualified,' which means that they need to be assessed to see if there is business potential, otherwise you could be wasting your time. A Five Stage Personal Selling Process.Stage One - Prospecting.Prospecting is all about finding prospects, or potential new customers. Some sales representatives develop scripts for all or part of the sales process. The need-satisfaction approach starts with a search for customer’s real needs. Its organization and compensation methods. A Five Stage Personal Selling Process. 1. For example, “Mr. 4. The personal selling process involves seven steps that a salesperson must go through with most sales. Companies generate leads in the following ways: 2. You can have the best or most innovative products or services, but if your internal and external communications are weak, then the demand for your products or services raises a personal flag of concern. There are many sources from which potential customers can be found: observation, social contacts, trade shows, commercially-available databases, commercially-available mail list and cold calling. Prospecting and qualifying: ‘Prospecting and qualifying’ are the first steps the personal selling process. Prospects should be ‘qualified,’ which means that they need to be assessed to see if there is business potential, otherwise you could be wasting your time. Using the telephone, mail and the internet to find leads. Each layer adds more customer value, and the five levels are: establishing a booth at trade shows and exhibitions, getting the names of the prospects from existing customers. Commodity selling was popular in the late 1950s through 1960s and focused on price through discounts. Attention: Get the attention of your prospect through advertising or promotions. For Example– Beauty and health-related products which require personal selling to match customize needs. The "five stages of grief" is a set of emotional stages human beings go through during the grieving process. 2. How to Piss People Off: The Opposite of Personal Selling . Provider Stage: Activities are limited to accepting orders for the suppliers available offering and conveying it to buyer.2. 2. Prospects should be qualified, which meansthat they need to be assessed to see if there is business potential, otherwise you could be wasting your time. Discuss and define marketing and how advertising relates to marketing strategy Then ask for the order. The personal selling process is a 7 step approach: prospecting, pre-approach, approach, presentation, meeting objections, closing the sale, and follow-up. I will do my best to make this visit profitable for you”. FOUNDATIONS OF PERSONAL SELLING: AN ORGANIZATION CUSTOMER FOCUS: 5 He must convert the objections into reasons for buying. It is seen that in some cases, despite knowing some shortcomings of a product, customer tend to purchase it simply because of personal relationship with the seller. This is the first and the most basic step in the selling process. Understanding these seven steps can help improve your individual sales or the sales of your company. Finally, value describes the overall worth in terms of money. Five stages in this evolution of selling are presented and discussed: provider, persuader, prospector, problem-solver, and procreator. Personal selling is the most expensive, Pre-approach phase, this is the second step where by after identifying prospects in the prospecting stage now sales professionals should find a way to know what their customers prefer much, how they behave, what are their needs and wants. He should also decide on the best approach which may be a personal visit, a phone call or a letter. Describe the “customer-value hierarchy” and identify and explain the five levels of product contained within. Prospecting. Stages of the selling process 9 In retail, sales representatives interact with customers who come to the business in pursuit of products or services. Merits of Personal Selling: They can ask for the order by drawing the attention of the customers towards colour, size or type of the product. Arguments against personal selling. Closing the sale: A goods sales talk results in clinching a sale. Features narrate physical characteristics of a market. Objection handling. Remember the marketing section earlier? Presentation and demonstration: The sales presentation should be based on AIDA formula.In other words, the presentation should gain attention, ho!d interest, arouse desire and obtain the action of the buyer. Under the retail channel, a sales person interacts with potential customers who come on their own to enquire about a product. Prospecting is all about finding prospects, or potential new customers. Getting the names of the prospects from organizations and associations. 2. After knowing the important particulars about the prospects, the salesperson should set call objectives. Jacob, I am Rahim from Jeevan Company. Desire: Build desire by starting with the OBJECTIVE and designing for the total project. Personal Selling Process: Steps and Stages. Pickton and Broderick (2005) mentioned, most important and vital strategic areas of an organization's success. The salesperson can ensure customer satisfaction by properly attending matters which are important to the customers. 2. In most cases, there are a multitude of tasks that must be completed prior to obtaining a commitment to move forward with the deal. searching names by examining data sources such as newspapers, directories, CD-ROMs etc. It encourages the customer to talk of his own needs. Personal selling can take place through two different channels – through retail and through direct-to-consumer channel. We’ve all been there. The opening line must pay importance to the buyer’s needs. Prospecting refers to locating potential customers. It is the personal selling process that allows marketers the greatest freedom to adjust a message to satisfy customers' information needs. 4. Review of Literature for Poverty Measurements. When you identify their responsibilities, interests, and needs, you take one giant leap for saleskind. Stage One - Prospecting. Planning the sales call (pre-approach) The salesperson should be properly dressed which coincides with the temperament of the buyer. Industrial Selling Environment 3 This article presents such a view, based on an inductive analysis from available literature on sellingjobs, selling's history, and characteristics of competitive and market environments. Companies generate leads in the following ways: searching names by examining data sources such as newspapers, directories, CD-ROMs etc. It also helps to obtain necessary information about the market and pass on the same to the producer. Pre-approach: Having found out the prospective customers, the salesperson should collect some important details about the prospects. Experiences were usually associated with the entertainment business, such as Disney World. Each stage of the process should be undertaken by the salesperson with utmost care. 2. To meet the specific needs of the people-Personal selling can help in meeting the specific need of the customer. It was first described by Dr. Elisabeth Kubler-Ross in 1969. Personal selling should be part of a wider sales mix, alongside telesales, email marketing, sales promotion, advertising, and public relations. Advantages & Disadvantages of direct distribution method of services, Customer Relationship Management | Meaning | Objectives, Indirect Distribution | Roles of service intermediaries, Challenges in distributing services through electronic channels, Weaknesses of Trade Union Movement in India and Suggestion to Strengthen, Audit Planning & Developing an Active Audit Plan – Considerations, Advantages, Good and evil effects of Inflation on Economy, Vouching of Cash Receipts | General Guidelines to Auditors, Audit of Clubs, Hotels & Cinemas in India | Guidelines to Auditors, Depreciation – Meaning, Characteristics, Causes, Objectives, Factors Affecting Depreciation Calculation, Inequality of Income – Causes, Evils or Consequences, Accountlearning | Contents for Management Studies |. But the audience with the customer should Identifying Stages in the Personal Selling Process. Advantages describe why the features provide an advantage to the customer. Prospecting is all about finding prospects, or potential new customers. Thus, follow up is necessary if the salesperson wants to ensure repeat purchase. Bank marketing does not only include service selling of the bank, Advertising and the Marketing Process Stage One – Prospecting. Challenges in Personal Selling Personal selling involves face-to-face contact with a customer. 1. Personal selling is a form of selling that many companies rely on heavily to promote and move their products. 5. 5 steps of the sales process. The opening line should be positive. cultivating referral sources such as dealers, suppliers, sales reps, executives, bankers etc. Personal selling: the conceptual framework: 9 5. In most cases, the salesman earns the ill-will rather than the goodwill of the buyer. 1. The Personal Selling Process The personal selling process is a consecutive series of activities conducted by the salesperson, the lead to a prospect taking the desired action of buying a product or service and finish with a follow-up contact to ensure purchase satisfaction. A Five Stage Personal Selling Process. Scene 2: NEW UNKNOWN FIRM AND OLD, ESTABLISHED PRODUCT CONCEPT 14 Closing the sale Prospecting: This stage includes finding potential customers to approach to. Approach: The salesperson should properly approach the prospects. Personal selling only helps to acquire the customers but also to grow and retain the customers. Handling and overcoming objections are the most important part of sales process. The basic product—the actual product that provides, The personal selling process is a continuously revolving cycle of stages that assist the professional sales person of today in developing basic selling strategies and tactics that help them improve and prefect their own personal selling styles. Scene 3: OLD FIRM, NEW PRODUCT-SERVICE 14 While their hacks and tips may be helpful, success starts with a solid … Chapter Objectives Disclaimer: This essay has been written and submitted by students and is not an example of our work. Exogenous Variables: 3 5. 6. 4. 7. This is to identify and qualify prospects in order to help sales people in the process of selling. The core benefit—the service or benefit the customer is really buying; 7 Important stages in personal selling process, Internal factors affecting pricing decision. The steps are what a salesperson has to go through to sell a particular product or service. Endogenous variables: 3 The first step of the personal selling process is called ‘prospecting’. Please click this link to view samples of our professional work witten by our professional essay writers. Not only the product lifecycle, the environment elements like social and cultural aspect should be concerned when companies set their marketing objectives. Interest. Making first contact. As a result of these developments seven steps selling became more customer oriented compared to original paradigm and serves businesses in a much economically efficient and productive way. The steps of personal selling are also knows as the sales process or cycle. What is Marketing? The sales call. 4. Consider the target market Personal selling becomes necessary for a firm to achieve quick sales. Personal Selling Examples. Personal Selling Steps. Here, ‘close’ means the act of actually getting the prospect’s assent to the sales proposal or … 2. For example, 'You need product X in blue, by Friday, packaged accordingly, and delivered to your wife 's office. ' Relationships to management practice and implications for future research efforts are also noted. Benefits explain the economic, technical aspects and social benefits delivered by the offering. Personal selling occurs when a sales representative meets with a potential client for the purpose of transacting a sale. in this video i try to explain the concept of personal selling with the help of white board animations. Persuader Stage: Selling involves an attempt to … For example, if the prospect is a company, then he should know what the company needs, who takes purchase decisions and who are its buyers. Many sales representatives rely on a sequential sales process that typically includes nine steps. Prospects should be ‘qualified,’ which means that they need to be assessed to see if there is business potential, otherwise you could be wasting your time. 3. This is a “features, advantages, benefits and value” approach. A Five Stage Personal Selling Process. In orderto qualify your prospects, one needs to:Plan a sales approach focused upon the needs of the … A Five Stage Personal Selling Process. When communicating the value of your products or, INTRODUCTION 3 Personal selling happens when companies and business firms send out their salesmen to use the sale force and sell the products and services by meeting the consumer face – to – face. Stage One - Prospecting. into one of five (5) stages of the personal selling process: (1) prospecting and qualifying, (2) approach, (3) presentation, (4) handling objections, or (5) gaining commitment. This will enable the firm to produce products that match with prospect needs and wants thus it will be easy for the, as the stage, and goods as props, to engage individual customers in a way that creates a memorable event. Personal selling and Competition: 12 Personal selling forces buyers to buy goods they may not actually require. 1. The success in earlier stages will lead to the last stage of closing the sale and clinch the deal. This activity is important because marketing students should be aware that finalizing a sale is only a stage in the ongoing personal selling process. The sales process can be used in face-to-face encounters and in telemarketing. All the earlier stages of sales talk namely, prospecting, pre-approach; approach, presentation and handling the objections have been designed to induce the prospect to make decision to buy so that a sale can be concluded. However, today, the concept of selling experiences, in banking sector should be considered under the service marketing framework. 3, point in the selling process, personal selling usually becomes involved. Prospecting and qualifying: ‘Prospecting and qualifying’ are the first steps the personal selling process. Overcoming objections: Customers when pressed for orders, voice their objections known as customer’s resistance. Canned approach is memorized sales talk covering the main points while formulated approach identifies the buyer’s needs and buying style and then uses an appropriate approach. But personal selling must not be overlooked: it remains an extremely important part of a salesperson’s arsenal and is a skill every good salesperson must master. He may give details about delivery time, purchase terms and mode of payment of price, etc. The salesmen aim to inform and encourage the customer to buy, or at least try the product. Follow-up and maintenance: Immediately after closing the sale, the salesperson should take some follow up measures. In planning its market offering, the marketer must address the five product levels of the customer-value hierarchy. He should know how to greet the buyer before starting his conversation. 1. My company and I appreciate your willingness to see me. The salesperson should qualify the prospect, collect information and make an immediate sale. Prospecting is all about finding prospects, or potential new customers. There was little focus on product differentiation or deeper buyer needs. 3. Published Date: 23 Mar 2015. A Five Stage Personal Selling Process Marketing Essay. Interest: Build interest through an emotional appeal such as how good they will look. The most common combination of the five-step model components is to merge Step 3 and 4, or 4 and 5 as follows: Meet and greet; Understand needs; Demonstrate and recommend; Close; Or, Meet and greet; Understand needs; Demonstrate; Recommend and close By Wayan Vota on October 22, 2009. Attention. There are five stages in every sale, whether you are selling a hamburger or a Caterpillar tractor: 1. At this juncture, the salesperson closes the sale at the right moment. The resistance of the customers may either be psychological or logical. As listed in the text, “there are countless small tasks in the personal selling process that are generally organized into seven major stages that overlap and interact which are: For each of the nine activities that Joseph has obtained from Mr. Gorman select the appropriate step of the personal selling process. Moreover, the salesperson should adopt FABV approach. Explain the marketing concept Personal selling ensures development of relationship between the sales person and the prospective customer. A salesperson can successfully close the sale by studying the body language and the statements made by the buyers. Logical resistance is based on some reasons associated with price, delivery schedule; product or company characteristics, etc. P-6: Analyze the stages in personal selling process. When you have completed this chapter, you should be able to Sales presentation varies in style. The stages in personal selling are briefly explained below. This is to identify and qualify prospects in order to help sales people in the process of selling. 1. The Selling Process includes: 1. * The American Marketing Association defines marketing as, At the last stage, profits start to decline. 4. Besides he should also decide on the timing of approach, based on the convenience of the prospects. To what extent are the ‚Äòself‚Äô and ‚Äòidentity‚Äô separate from society? This helps in making sales. In this two-way communication, the seller can identify the specific needs and problems of the buyer and tailor the sales presentation in light of this knowledge. Performed marketing strategy is the case which is determination of the place of financial institutions on customers’ mind.
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