LECTURE-23 Personal Selling Preliminary Steps In The Selling

LECTURE-23 Personal Selling (Preliminary Steps In The Selling Process)

Chapter Questions § How does personal selling work and what are its objectives? § What is the personal selling process? (Preliminary Steps In The Selling Process)

Chapter Perspective §If you can sell you have a job for life. §Everyone lives by selling something. §Some sale people are born but most are develop. §Work smart not hard. §Sales man do not work for the company he works for the customers.

Chapter Perspective “I don’t care how many degrees you have on the wall, if you don’t know how to sell, you’re probably going to starve. ” Heavyweight boxer George Forman’s advice to his children L. A. Times, pg. C 2, Tuesday, March 25, 1997

Opening Case: Avon

Opening Case: Avon Challenge: Answer: Results: Recruit a new generation of Avon salespeople An IMC program featuring: • The introduction of a new youth brand, mark • Joint sales training program with University of Phoenix • New magazine/catalog: meet mark • To early to tell, but the target audience, young women 16 -24, is a huge potential market, spending approximately $24 billion on beauty-related products

How Does Personal Selling Work? Personal selling: Person-to-person interactive communication used to ultimately persuade a current/ prospective customer to buy something. The Oldest Marketing Communication Function

Acquiring New Customers Problem: 15 -20% customer turnover rate each year Prospecting Ways to Respond Following up on Sales Leads Toughest Challenge: Cold Calling

Retaining Current Customers Problem: often overlooked in favor of attracting new customers Ways to Respond Build Trust By: Being Customeroriented, Demonstrating Dependability, Being Honest Treating Current Customer Like New Ones

Personal Selling Objectives Typical Measurable Examples Make X Cold Calls Identify Y Qualified Sales Leads Increase Current Customers’ Business by Z Percent

Personal Selling Strategies Solution (enterprise) Selling • Helping customers solve problems or take advantage of opportunities Partnering • Working with prospects and customers as business partners

Prospecting Identifying Prospects 1. Present Customers 2. Former Customers 3. End Less Chain 4. Center Of Influence 5. Cold Calling 6. Spotters 7. Directories 8. Mailing Lists 9. Prospecting Services 10. Advertising 11. Personal Contacts 12. Trade Shows And Exhibitions 13. Internet/Social Media

Qualifying Prospects MAN APPROACH Money Authority Need

PREPARATION PRE APPROACH § Who is the customer? § Who will be the actual decision maker? § Who will influence the decision? § Who will be the actual user? § With Whom will develop favorable relationship? § What are the customer’s needs? § Identify the prospects need § Try to understand his liking or disliking § What other information is required? § Family back ground § Hobbies / Interest / Memberships etc.

PREPARATION…. PRE APPROACH § Where does one obtain information? § Company’s internal records § Annual reports § Catalogs § Trade publications § Advertisements § Yellow pages § Company’s official website

PREPARATION. . CALL PLANNING § Specify the objectives § Why am I going? § What am I trying to happen? § What am I going to recommend? § Develop a strategy § Course of action § Various alternatives § Make an appointment § Sales call are costly

Bibliography v Marketing Management – A South Asian Perspective by Philip Kotler, Kevin Lane Keller, Abraham Koshy & Mithileshwar Jha, 13 th Edition, Published by Pearson Education, Inc. v Sales Management Concepts, Practices, and Cases by Eugene M. Johnson, David L. Kurtz & Eberhard E. Scheuing Published by Mc. Graw-Hill Irwin. v Principles of Advertising & IMC by Tom Duncan 2 nd Edition, Published by Mc. Graw-Hill Irwin. v Principles of Marketing by Philip Kotler & Gary Armstrong Thirteenth Edition, Published by Prentice Hall

The End: “Enjoy life. This is not a dress rehearsal. ” Author Unknown